Swiber appoints Francis Wong Group CEO and President

Wong’s 22-year experience in accounting, financial and investment-related areas qualified him as CEO.

Swiber Holdings Limited (“Swiber” or together with its subsidiaries, the “Group”), a world class integrated construction and support services provider to the offshore oil and gas industry, on Friday announced the appointment of Mr. Francis Wong as Group Chief Executive Officer and President of Swiber with immediate effect.

With Swiber’s rapid expansion on the corporate and operations level, the new appointment is part of Swiber’s growth strategy to strengthen its management team to meet new business opportunities and future challenges. The new appointment is also in line with the Group’s strategy to maintain an efficient corporate structure and for fast, effective decision-making, according to a Swiber report.

Mr. Raymond Goh, as founder of the Group, remains at the helm of Swiber as Executive Chairman, with oversight of the strategic growth directions of the Group. With Mr. Raymond Goh’s recent two appointments as Non-Executive Chairman of both publicly-listed companies, Kreuz and Vallianz, a separation of the Chairman and CEO role will be a push towards best practice in corporate governance.

As the Group CEO and President, Mr. Francis Wong plays a key role in charting Swiber's corporate and strategic directions, working closely with the CEOs of the various business divisions and other members of the management team in the strategic management to steer Swiber's significantly expanded operations. Mr. Francis Wong joined Swiber in 2005 and has been highly involved in the Group’s overall operations. Mr. Francis Wong has over 22 years of experience in accounting, financial and investment-related areas from a broad industry base and is an associate member of the New Zealand Institute of Chartered Accountants; a certified practising accountant of CPA Australia; and a chartered accountant certified by the Malaysian Institute of Accountants and the Institute of Chartered Secretaries and Administrators.

The Board has accepted Mr. Raymond Goh’s proposal for the appointment of Mr. Francis Wong as the new Group CEO. The Board is confident that, with Mr. Raymond Goh remaining as Executive Chairman of the Board and Mr. Francis Wong assuming the post of Group CEO, the Swiber Group will continue to advance to greater heights of achievement.

Commenting on the new appointment of Mr. Francis Wong, Mr. Raymond Goh said, “As the founder of the Swiber Group, I remain deeply committed to its growth path as a world class player in the offshore industry. I have seen Swiber’s business expand from just 10 vessels in 2006 to our current fleet of 45 vessels, and from two business divisions to our current four segments – covering a full range of offshore EPIC and marine support services to serve the entire spectrum of offshore oil and gas exploration projects.

“With my recent two appointments as Non-Executive Chairman of both Kreuz and Vallianz and taking into consideration Swiber’s rapid expansion and push towards best practice in corporate governance, a separation of the Chairman and CEO role is both necessary and timely. I will continue to serve as executive Chairman and play an active role in mapping out the directions for Swiber’s growth at a strategic level.”

“Francis’ intimate knowledge and contributions to the Group’s growth strategies will stand him in good stead to lead Swiber forward. He is the best man for the position given that he has been involved in major aspects of Swiber’s operations over the last few years and has demonstrated his capability, passion, and dedication for the Group. The Board and I are confident that he will lead Swiber to grow from strength to strength.”

Commenting on his appointment, Mr. Francis Wong said, “I am honoured to be given this opportunity to lead the Swiber Group. The management team and I will continue to work closely with our Executive Chairman, tapping on this wealth of experience and knowledge, for the benefit of Swiber and our stakeholders.”