Malaysia: Nam Cheong Names New Chief Executive Officer

Nam Cheong Limited, a leading global offshore marine player listed on the Main Board of the Singapore Exchange Securities Trading Limited and Malaysia’s largest Offshore Support Vessel builder, recently announced appointment of Mr Leong Seng Keat as the Group’s Chief Executive Officer with immediate effect.

Mr Leong was Nam Cheong’s Executive Director, and the new appointment is in line with the Group’s strategy to strengthen and streamline the management team as it embarks on its next phase of growth. Riding on the strong and positive industry momentum that is sweeping the offshore marine sector in the region and globally, Nam Cheong has expanded its shipbuilding programme to meet new demands. The new appointment will further enhance the corporate structure, decision-making process and execution of strategies as the Group seeks new opportunities to grow.

Datuk Tiong Su Kouk  remains at the helm of Nam Cheong as its Executive Chairman, with oversight of the strategic growth direction of the Group. As CEO, Mr Leong will be instrumental in charting Nam Cheong’s corporate and strategic directions, working closely with members of the management team to steer the course of Nam Cheong’s expansion plans.

Mr Leong joined the Group in 2005 as an Executive Director, bringing with him more than 15 years of vast experience in sales and management. Since his involvement with the Group, Mr Leong has successfully marketed the Group’s vessels to the international market. He is currently overseeing the commercial development and the outsourcing of shipbuilding contracts to the Group’s PRC contractors. He is also a member of the Regional Technical Committee of the American Bureau of Shipping and a member of the Singapore Institute of Directors.

The board has accepted Datuk Tiong’s recommendation of Mr Leong for the position of new CEO. The board is confident that, with Datuk Tiong remaining as Executive Chairman of the Board and Mr Leong as the CEO, Nam Cheong will continue its achievements.

Commenting on the new appointment, Datuk Tiong said: “My vision for Nam Cheong has always been to deliver reliable, quality vessels on time, every time, to our customers, and I remain deeply committed to Nam Cheong’s growth path as it rises in its position as a global marine player. At the same time, I’m pleased that Mr Leong shares this same vision and commitment. In a short span of time since Nam Cheong’s May 2011 listing on the Singapore Exchange, Nam Cheong has grown remarkably. Last year we hit a record-high of 21 vessels being sold in a single year. This is in no small part a tribute to the hard work, tenacity and foresight of Mr Leong, who has worked tirelessly to drive operations and push boundaries, ensuring that the Group is always ahead of the curve.

“Even as I remain active on the board of directors and the overall strategic functions of the business, I am confident that Mr Leong is the best man – with his experience, knowledge, capabilities and passion – to oversee the day-to-day operations and continue to bring Nam Cheong to greater heights.”

Commenting on his appointment, Mr Leong said, “I am honoured to be given this opportunity to continue to lead Nam Cheong. Together with the management team, I will be working closely with the Executive Chairman, whose invaluable counsel is built on decades of industry experience and a strong network of contacts. His business philosophy of always treating our customers as partners and valuing the trust and relationships we have forged with them forms the bedrock of Nam Cheong’s culture, one which I have the privilege of assuming as its new CEO, and will strive to continue for the benefit of all our stakeholders.”

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Nam Cheong, May 23, 2013