PRESS RELEASE

APPOINTMENT OF NEW BOARD MEMBERS FOR IE , AND JTC CORPORATION AND APPOINTMENT OF NEW COMMISSION MEMBERS TO THE COMPETITION COMMISSION OF SINGAPORE

The Minister for Trade and Industry has appointed new members to the

Commission of the Competition Commission of Singapore (CCS), and to the Boards of Directors of International (IE Singapore) and JTC Corporation (JTC). The terms of several members of the Boards have also been extended. The appointments will take effect on 1 January 2011.

COMPETITION COMMISSION OF SINGAPORE (CCS)

New Appointments

 Ms Chia Aileen – Deputy Director-General (Telecoms & Post), Infocomm Development Authority

 Mr Wong Yew Meng – Former Audit Partner, PricewaterhouseCoopers

A brief write-up on the new members is attached at Annex A.

Re-appointments

Chairman

 Ambassador Lam Chuan Leong -- Ambassador-at-Large, Ministry of Foreign Affairs

The extension of his term will see Amb Lam serving his third termas Chairman. Amb Lam’s judgement and instincts have been critical in steering the direction of CCS. The extension of his chairmanship at CCS will ensure continuity and stability for competition policy and practice in Singapore.

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Members

 Mr Bobby Chin — Chairman, Tote Board

 Dr Andrew Khoo — Assistant Managing Director (Policy, Risk & Surveillance), Monetary Authority of Singapore

 Prof Phang Sock Yong — Professor, School of Economics, Singapore Management University  Prof Tan Cheng Han — Dean, Faculty of Law, National University of Singapore

 Mrs Tan Ching Yee—Permanent Secretary, Ministry of Education

 Mr Lionel Yee—Second Solicitor-General and Director-General, International Affairs, Attorney-General’s Chambers

The Commission comprises 10 members and the current list of members is at Annex A. The CCS Commission comprises 10 members and the current list of members is at Annex A.

HOTELS LICENSING BOARD (HLB)

Re-appointment

Chairman

 Ms Hoo Sheau Peng – Registrar & Senior District Judge, Subordinate Courts

HLB comprises 5 members and the current list of members is at Annex B.

INTERNATIONAL ENTERPRISE SINGAPORE (IE SINGAPORE)

New Appointment

 Dato Kho Hui Meng – President, Vitol Asia Pte Ltd

A brief write-up on the Dato Kho is attached in Annex C.

Mr Chong Lit Cheong, who stepped down as CEO, IE Singapore on 31 December 2010, also stepped down from the Board on the same date.

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The IE Singapore Board comprises 11 members and the current list of members is at Annex C.

JTC CORPORATION (JTC)

New Appointments

 Mr Danny Teoh – Former Managing Partner, KPMG

 Mr Tan Chee Meng – Deputy Managing Partner, WongPartnership

 Mr Augustin Lee -- Deputy Secretary, Ministry of Manpower

A brief write-up on the new members is attached at Annex D.

Re-appointments

Chairman

 Mr Cedric Foo -- Group Deputy President & Chief Financial Officer Neptune Orient Lines Ltd.

The extension of Mr Foo’s term will see him serving his second term of service in his capacity as chairman. He was Deputy Chairman of the Board in 2007 and has been in his current position since 2008. His contributions and insights have been essential in helping JTC realise its mission of optimising Singapore’s landscape.

Members

 Mr Manohar Khiatani – Chief Executive Officer, JTC

 Dr Ernest Kan – Partner, Deloitte & Touche, Singapore

 Mrs Ong Choon Fah – Executive Director & Head (Asia Pacific Research) DTZ Debenham Tie Leung (SEA) Pte Ltd

 Mr Jen Kwong Hwa – Managing Director, Micron Semiconductor Asia Pte Ltd

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One member has stepped down from the Board with effect from 1 January 2011:

 Mrs Cheong-Chua Koon Hean -- CEO, Housing Development Board

The JTC Board comprises 9 members and the current list of members is at Annex D.

4. The Ministry of Trade and Industry, CCS, HLB, IE Singapore and JTC welcome the new Board Members and also express their appreciation to the outgoing members for their invaluable contributions.

MINISTRY OF TRADE AND INDUSTRY 3 JANUARY 2011

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ANNEX A

COMPETITION COMMISSION OF SINGAPORE

New Commission Members

Ms Chia Aileen Deputy Director-General (Telecoms & Post), Infocomm Development Authority

Ms Chia Aileen started her career at the Infocomm Development Authority (IDA) in 1991 and is now the Deputy Director-General (Telecoms & Post) at IDA. She currently serves as a Member of the Board of Directors at the Singapore Philatelic Museum and the Singapore Network Information Centre.

Mr Wong Yew Meng Former Audit Partner, PricewaterhouseCoopers

Mr Wong Yew Meng retired from Pricewaterhouse Coopers in 2008, after a 34-year-long career with the company. He previously served as Chairman of the Boards of Directors of the Health Promotion Board and Singapore National Eye Centre, and currently serves as Member of several Boards of Directors, including the People’s Association, Public Utilities Board and Singapore National Eye Centre.

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Commission Members of the Competition Commission of Singapore

Chairman Amb Lam Chuan Leong Ambassador-at-Large Ministry of Foreign Affairs

Members Mr Bobby Chin Yoke Choong Chairman Tote Board

Dr Andrew Khoo Cheng Hoe Assistant Managing Director (Policy, Risk & Surveillance) Monetary Authority of Singapore

Ms Yena Lim Hua Yen Chief Executive Competition Commission of Singapore

Prof Phang Sock Yong Professor, School of Economics Singapore Management University

Prof Tan Cheng Han Dean, Faculty of Law National University of Singapore

Mrs Tan Ching Yee Permanent Secretary Ministry of Education

Mr Lionel Yee Woon Chin Second Solicitor-General and Director-General, International Affairs Division Attorney General’s Chambers

Ms Chia Aileen Deputy Director-General (Telecoms & Post) Infocomm Development Authority

Mr Wong Yew Meng Former Audit Partner PricewaterhouseCoopers

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ANNEX B

Board Members of the Hotels Licensing Board

Chairman Ms Hoo Sheau Peng Principal District Judge Subordinate Courts

Members Mr Koh Yak Leng Commander, Tanglin Police Division Singapore Police Force

Mr Justin Chew Kok Chuan Executive Director, F1 Project & Hospitality

Mr Peter Tan Group Director, Development Control Group Urban Redevelopment Authority

Mr David Ling Managing Director HVS - Asia Pacific

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ANNEX C

INTERNATIONAL ENTERPRISE SINGAPORE

New Board Member

Dato Kho Hui Meng President, Vitol Asia Pte Ltd

Dato’ Kho Hui Meng is currently the President of Vitol Asia Pte Ltd, and the sole Asian director on the board of the Vitol Group of Companies, the world’s largest independent oil trading company with a global network of 28 office locations. He concurrently heads Vitol Group’s eastern operations stretching from India to Korea, China, Taiwan, Japan, ASEAN, Australia and New Zealand. He was awarded the Darjah Indra Mahkota Pahang from the DYMM Sultan of Pahang. He currently serves as Member of the Boards of Directors of several companies, including VTTI (a Vitol/MISC Bhd joint-venture), Boustead Petroleum Marketing Sdn Bhd, Vitol Singapore Pte Ltd and Petroned Singapore Pte Ltd.

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Board Members of International Enterprise Singapore

Chairman Mr Sunny Verghese Group Managing Director and CEO Olam International Limited

Deputy Chairman Mr Tang Kin Fei Group President and CEO SembCorp Industries Limited

Members Mr Teo Eng Cheong Chief Executive Officer International Enterprise Singapore

Mr Seah Moon Ming Deputy Chief Executive Officer ST Engineering Ltd

Mr Chew Hock Yong Chief Executive

Mr Soo Kok Leng Chairman, Singapore Technologies Electronics Limited

Mr Foo Say Mui Bill Vice-Chairman, South & South East Asia Australia & New Zealand Banking Group Limited

COL Perry Lim Cheng Yeow Head, Joint Plans & Transformation Department Ministry of Defence

Dr Beh Swan Gin Managing Director Economic Development Board

Dr Robert Yap Chairman and Chief Executive Officer YCH Group

Dato Kho Hui Meng President Vitol Asia Pte Ltd

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ANNEX D

JTC CORPORATION

New Board Members

Mr Danny Teoh Former Managing Partner, KPMG

Mr Danny Teoh recently retired from KPMG, where he last worked as Managing Partner. During his 27-year- long career at the firm, he held various leadership positions, including Head of Risk Advisory Services and Head of Audit. He previously served on the Boards of Directors of the Viva Foundation for Children with Cancer and SIFE Singapore, and currently serves on the Board of Directors of the Singapore Dance Theatre.

Mr Tan Chee Meng Deputy Managing Partner, WongPartnership

Mr Tan Chee Meng is Senior Counsel and Deputy Managing Partner at WongPartnership. Among his past experience, he has held positions as Deputy Public Prosecutor at the Attorney General’s Chambers, Senior Counsel at Harry Elias Partnership and Specialist Judge. He also serves as Member of several Boards of Directors, including Singapore Power Limited and the Urban Redevelopment Authority.

Mr Augustin Lee Deputy Secretary, Ministry of Manpower

Mr Augustin Lee is Deputy Secretary at the Ministry of Manpower. He has a Master of Science in Management from Stanford University. Prior to this, he has held positions in the National Health Group, Ministry of Trade and Industry and Prime Minister’s Office.

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Board Members of JTC Corporation

Chairman Mr Cedric Foo Group Deputy President & Chief Financial Officer Neptune Orient Lines

Members Mr Manohar Khiatani Chief Executive Officer JTC Corporation

Mr Jen Kwong Hwa Managing Director Micron Semiconductor Asia Pte Ltd

Lt-General Neo Kian Hong Chief of Defence Force Ministry of Defence

Dr Ernest Kan Partner Deloitte & Touche, Singapore

Mrs Ong Choon Fah Executive Director & Head, Consulting & Research DTZ Debenham Tie Leung (SEA) Pte Ltd

Ms Chen Soon Bin Managing Director Government of Singapore Investment Corporation Pte Ltd

Mr Ong Ye Kung Assistant Secretary-General National Trade Union Congress

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