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Viking Offshore and Marine Names Top Management; Chairmen of Three Unlisted Subsidiaries

Viking Offshore and Marine Names Top Management; Chairmen of Three Unlisted Subsidiaries

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Published by: WeR1 Consultants Pte Ltd on Sep 03, 2010
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09/02/2010

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 VIKING OFFSHORE AND MARINE LIMITED
Company Registration No. 199307300M3 Phillip Street #11-01 Commerce Point Singapore 048693Tel: 6536 3353 Fax: 6536 1733 Website:www.vikingom.com 
MEDIA RELEASE
Viking Offshore and Marine Names TopManagement; Chairmen of Three UnlistedSubsidiaries
 
Oxford-trained former Singapore Navy scholar Ng Yeau Chong tohead Operations
 
Executive Director Ivan Chong to be named Chairman of unlistedFMCG subsidiary and head of HR and Corporate Services
 
INSEAD-trained former management consultant Jason Ong to headInternational Business Development
 
CFO Low Jooi Kok and Independent Director Lee Suan Hiang tohead separate boards of two unlisted offshore and marinesubsidiaries
 
New independent Director Woo Peng Kong brings strongengineering background to strengthen Viking’s Board
Singapore, 17 August 2010 –
Homegrown
Viking Offshore and Marine Limited(“Viking” or the “Group”)
has named an Oxford-trained naval scholar as its ChiefOperating Officer (“COO”) and appointed chairmen to its three subsidiaries to transformthe management leadership of the Singapore Exchange Catalist-listed company.The appointments will strengthen business development, management and operations tointegrate three major companies acquired since the start of the year and accelerate thetransformation of Viking into a leading offshore and marine (“O&M”) services player.Viking last month announced it was buying controlling stakes worth S$29.8 million in twocompanies as part of its strategy to bolt-on capabilities to its wholly owned company VikingAirtech Pte Ltd (“Viking Airtech”), a Heating, Ventilation, Air-conditioning & Refrigerationsystems (“HVAC&R”) specialist acquired in January for S$44 million.
 
Media Release – Viking Offshore and Marine Names Top Management; Chairmen of Three Unlisted Subsidiaries 
 
17 August 2010 Page 2 of 4 
 ____________________________________________________________________________ 
The two companies are Promoter Hydraulics Distributor Pte Ltd (“Promoter”) – a leadingwholesaler of winches, power packs and marine decking equipment – and MarineAccomm Pte Ltd (“Marine Accomm”) – Singapore’s largest turnkey project integrators ofaccommodation and fit-out for the O&M industry.“Having undertaken these major acquisitions in less than a year as part of our bolt-onstrategy, the challenge now for Viking is to integrate and streamline the operations so thatthe enlarged Group is able to reap economies of scale in business development,operations and human resources. Viking is moving swiftly to tackle the “soft” aspectsneeded to make its bolt-on strategy work,” Mr Lim said. “Viking’s transformation can onlytake place with the right leaders at the helm.”
Mr Ng Yeau Chong
, aged 43, who has a Master of Arts from Oxford University, is namedChief Operating Officer (“COO”). He will oversee sales and marketing and integration ofthe newly acquired subsidiaries. Apart from his Group-wide COO duties, he will also serveas CEO of wholly owned Promoter.After serving eight years in the navy, Mr Ng went on to stints in the public sector (SPRINGSingapore), banking (UOB) and global IT giant (Oracle). He holds a MBA (Accountancy)from Nanyang Technological University, is a Chartered Financial Analyst and is certifiedas a Financial Risk Manager.Viking, which announced net profit after tax of S$5.9 million for the six months ended 30June 2010, is also taking the unusual step of appointing chairmen of three unlistedsubsidiaries.
Mr Ivan Chong
, aged 55, will step down as independent director of Viking from 1September and become Executive Director in charge of human resources developmentand corporate services. He is also named chairman of Viking’s subsidiary Chuan SengLeong Pte Ltd, a leading wholesale distributor of household and personal care essentials.Currently an advisor to the Advertising Standards Authority of Singapore, he has beenconferred the “Friend of Labour” award by the National Trades Union Congress.
 
Media Release – Viking Offshore and Marine Names Top Management; Chairmen of Three Unlisted Subsidiaries 
 
17 August 2010 Page 3 of 4 
 ____________________________________________________________________________ 
Mr Jason Ong
, Director of International Business will be based in Shanghai, China, andtasked to drive the geographical expansion plans as to increase international footprintsespecially in Brazil, India and China. He graduated with an MBA from INSEAD and workedfor five years as a business analyst with the leading global management consulting firmA.T. Kearney. Jason Ong is the son of Viking’s CEO, Mr Ong Choo Guan.Viking’s CFO,
Mr Low Jooi Kok
, will serve as Non-Executive Chairman of 55%-heldMarine Accomm, while Independent Director
Mr Lee Suan Hiang
– a senior civil servant – will serve as Non-Executive Chairman of Viking Airtech.“The subsidiaries will each have their own chairman and a fully functional board ofdirectors. We believe this will aid and support the respective CEOs who are given fullautonomy to grow their businesses under the Viking umbrella. It will also provide strongcorporate governance which provides a solid foundation should these subsidiaries pursuetheir own public listing in the future,” Mr Lim said.“We want to ensure that each board has the right mix of experience and expertise tomanage the integration, and expansion growth of the company,” Mr Lim added.Replacing Mr Chong as Viking’s Independent Director with effect from 1 September is
MrWoo Peng Kong.
He has over 30 years’ experience in the
 
oil & gas and O&M industriesin senior management roles in engineering, sales & marketing, new business start-upsand joint ventures. He has held senior appointments in various private & public-listedcompanies including as Managing Director of Group Capital Equipment and Projects of KSEnergy Services Limited. Mr Woo, aged 57, holds a First Class Honours Bachelor Degreein Mechanical Engineering from the then-University of Singapore, and a Certified Diplomain Accounting & Finance from the Chartered Association of Certified Accountants.
 – End –

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