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Moving Into 2010 With Exciting Beginnings

Note by John Ng, CEO of PowerSeraya

john-ng_issue03 As most would agree, the economic conditions for 2009 were wrought with much uncertainty and produced business challenges that were unavoidable for most companies, including PowerSeraya. While we stood the test and produced a resilient performance, we are certainly not resting on our laurels. Building upon the sound business strategies PowerSeraya has formulated, the company is looking to perform better in 2010.

A change in the PowerSeraya Board recently in November 2009 has brought about three new members, namely Tan Sri Francis Yeoh as Chairman, Mr. Joseph Tan and Mr. Harald Burchardt, who all bring with them a wealth of experience in operating power plants and expanding business operations. They join the current board members, Dato’ Yeoh Seok Hong, Dato’ Yeoh Seok Kah and myself - to drive the business forward with our customers in mind.

The company continues to seek out opportunities to expand the business through new growth engines to augment our reach into the multi-utilities arena which will add steam, water and gas to our current electricity and oil portfolio. We are very excited about the completion of our 800MW Co-Generation Combined Cycle Plant (Co-Gen CCP) in the first half of 2010 as this will mean an increased capacity to serve the expanding energy needs of the Petrochemical hub of Jurong Island.

Already, the successful First Synchronisation of one of two units of our Co-Gen CCP, which is a trial to ensure the plant can be connected smoothly to the power grid, in October 2009 has marked an important achievement in the commissioning progress. From November last year, we have also commenced a 15-year agreement to supply steam through a dedicated network of pipes to our customer, Petrochemical Corporation of Singapore (PCS).

In essence, we are picking up steam more than ever through these developments – an apt term as we seek to strengthen our position in the industry.

Besides a strong focus on our business activities, we also have plans to fulfill our social responsibility role to the community in the year ahead by engaging our employees in community-related activities as well as by continuing our support for efforts that are environmentally friendly.

Partnerships are important to us. We’ve come this far because of your continuing support as our valued customers and business partners. At the same time, backed by our people whom we also value as key partners in growing the business, we collectively aim to bring the best expertise and know-how to the table to enable your business success. And this will be one of the greatest motivating factors that will propel the company to continually push ahead to do its best.

With the closing chapter of a turbulent year in 2009, let us open the door to a brighter year in 2010 and I hope that it will be an even better and more successful one for all.

Yours truly,
John Ng
CEO
PowerSeraya Limited

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