SINGAPORE (THE BUSINESS TIMES) - Keppel Corporation on Monday named Teo Eng Cheong as the chief executive officer of the Sino-Singapore Tianjin Eco-City (SSTEC) Investment and Development Co, taking over from outgoing CEO Tay Lim Heng with effect from June 1, 2021.
Mr Tay will be appointed managing director of Keppel Urban Solutions on the same day. Mr Teo will hold a concurrent appointment as adviser on Eco-City matters in the Singapore Ministry of National Development.
Mr Teo joined Keppel as director, corporate office, at the start of this year. Before joining Keppel, he was CEO International (Singapore, South-east Asia, North Asia) of Surbana Jurong Group, and prior to that, he held various leadership positions in the Singapore Government, including CEO of International Enterprise Singapore (now known as ESG) and CEO of the Competition Commission of Singapore (now CCCS), among others.
He was the Economic Development Board centre director in Suzhou, China, from 1996 to 1998, to support the first government-to-government project between Singapore and China - the China-Singapore Suzhou Industrial Park.
The SSTEC was developed from former barren, saline and alkaline land into an eco-city over the past 12 years. Keppel is leading the Singapore consortium.
Keppel CEO Loh Chin Hua said Mr Teo has a wealth of experience from his work in the Singapore Government and private sector, including deep knowledge of the Chinese market, and would be able to provide effective leadership to SSTEC in the next phase of the Eco-City's development.
He also thanked Mr Tay for his contributions to the Eco-City since 2016. Under his watch, the eco-city has made significant progress, not only as a model for smart and sustainable development, but to become a steady contributor to the Keppel Group, he said.
Keppel Urban Solutions is an an end-to-end master developer of smart and sustainable urban townships. It is currently working with Keppel Land to develop Saigon Sports City in Ho Chi Minh City, Vietnam. They are also collaborating to develop a 166ha smart precinct in the northern district of the SSTEC.
Mr Loh said: "With his experience in SSTEC, and previously in the group's infrastructure business, Lim Heng is well placed to further grow Keppel Urban Solutions as an integrated master developer, and collaborate with other parts of the group in pursuit of Keppel's Vision 2030."
Keppel shares added $0.07 or 1.36 per cent to $5.22.
