Keppel Corporation announced that it has appointed Teo Eng Cheong as CEO of the Sino-Singapore Tianjin Eco-City Investment and Development Co (SSTEC).
Teo replaces outgoing CEO Tay Lim Heng with effect from June 1.
Tay will be appointed managing director of Keppel Urban Solutions on the same day.
Teo, who was formerly CEO International at Surbana Jurong, will hold a concurrent appointment as advisor on Eco-City matters at the Ministry of National Development (MND).
Teo has been director for Keppel Corporation’s corporate office since Jan 1.
Teo also held various leadership positions in the Singapore government including CEO of International Enterprise Singapore (now ESG), Director-General of Singapore Customs and other positions in the Economic Development Board (EDB).
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“As the leader of the Singapore consortium for the Sino-Singapore Tianjin Eco-City, Keppel is proud to have contributed to the development of this Government-to-Government project. From former barren, saline and alkaline land, the Eco-City has been transformed over the past 12 years into a modern and smart Eco-City at the forefront of sustainable development,” says Loh Chin Hua, CEO of Keppel Corporation.
“Eng Cheong has a wealth of experience from the Singapore Government and private sector, including deep knowledge of the Chinese market. I am confident that he would provide effective leadership to SSTEC in the next phase of the Eco-City’s development.”
“I would also like to express my appreciation to Lim Heng for his valuable contributions to the Eco-City since 2016. Over the past few years, the Eco-City has made significant progress, not only as a model for smart and sustainable development, but to become a steady and important contributor to the Keppel Group,” Loh adds.
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Keppel Urban Solutions was established in 2017 to be an end-to-end master developer of smart and sustainable urban townships, harnessing the Keppel Group’s diverse capabilities and strong track record in the planning and development of large-scale projects in the Asia-Pacific.
Shares in Keppel Corporation closed 7 cents higher or 1.4% up at $5.22 on March 22.
