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Forging Ahead With Resilience

Message by John Ng, CEO of PowerSeraya

ceo-msg_johnng_big While we have been affected by the economic turmoil like most businesses – as a result of fluctuations in oil prices and a weakened demand for electricity – PowerSeraya’s strategic advantage of having a diversified portfolio has allowed us to continue to perform well. We remain bullish that electricity demand will also pick up shortly.

There’s good news in PowerSeraya as well. Since YTL Power International came on board as our new parent company on 6 March 2009, we have been working closely with the Group to achieve greater synergies for growth. YTL Power’s proven expertise and capability in the utilities sector can only seek to further strengthen the business capabilities of PowerSeraya and grow our intellectual capital base, so we can further enhance value for our customers. We have never been more excited about our future and look forward to continuing and developing our relationship with customers under the new ownership.

Personally, it has also been an eventful journey. I was honoured to have taken over the helm of the company as CEO from our ex-MD Neil McGregor on 16 May. Neil has established PowerSeraya as a strong organisation with sustainable growth and I am privileged to now lead this company into the next lap of progression.

The on-going economic challenges that come our way can only make us stronger. We continue to focus on building our multi-utilities platform, starting with the completion of our new Co-Generation plant which will strengthen our steam capability once it is fully operational in May 2010. PetroSeraya continues to explore all avenues to expand the supply chain, as well as maximise and develop its trading business to maintain its competitiveness.

I am proud that Seraya Energy continues to occupy the market leader position among private electricity retailers for the second consecutive year – a reflection of the dedication and excellent performance displayed by the team. Mr. Lim Sam San has also recently been appointed the new Vice-President of Retail and Regulations on 29 June. Sam’s career originated from the power industry, where he joins us most recently from Air Products Asia. With his leadership, I trust that our retail arm will continue to stay at the forefront of the service industry to deliver even more competitive products and services to meet your business needs.

Our growth journey would not have been possible without your continuing support and confidence in PowerSeraya.

Thank you for giving PowerSeraya an opportunity to build an enduring relationship with you and I hope you enjoy reading the latest updates of the Company.

Yours truly,
John Ng
CEO
PowerSeraya Limited

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