Corporate digest

Golden Energy and Resources

THE mainboard-listed coal mining and trading company on Monday announced FY2020 net profit of US$8.1 million, 18.7 per cent lower than the previous year's net profit of US$9.9 million. This comes after consolidating the results of the group's new subsidiary Stanmore Coal, as well as factoring in the impact of its investment in the Ravenswood Gold project.

Golden Energy will not be paying a dividend for the period under review, compared to an interim dividend of 0.29 Singapore cent declared in the year-ago period.

Looking ahead, the group said it will leverage on its acquisition synergies to fuel longer-term gains for stakeholders. It believes its mining operations in Indonesia are well-positioned to tap the anticipated rising demand of coal from China and the South-east Asia region. It remains cautiously optimistic on the near to medium-term outlook recovery for energy and metallurgical coal demand and prices.

ISOTeam

ISOTEAM has appointed former member of Parliament (MP) Teo Ho Pin as an independent director to its board of directors. With a public service career spanning over 20 years, including MP for various constituencies, Dr Teo had chaired multiple Government Parliamentary Committees for National Development, Environment and Water Resources, Law, and Home Affairs. He had also served as the mayor of the North West District of Singapore for more than 19 years until 2020.

As the former chairman of the Holland-Bukit Panjang Town Council from 2001 to 2020, Dr Teo had about 50,000 public housing flats and commercial units under his charge and served as adviser in formulating township management policies, facilities management programmes, and improvement projects. Dr Teo had also served as the coordinating chairman for 15 town councils in Singapore (2006-2020).

Dr Teo has a Masters in Project Management and a Doctorate in Building from Heriot Watt University in the UK. He is presently an independent director of Tiong Seng Holdings.

SBS Transit

SBS Transit has appointed Cheng Siak Kian as its chief executive officer.

Mr Cheng, 51, has been acting CEO of SBS since March 1, 2020. Prior to that, he was the chief operating officer of SBS Transit from July 1, 2019, to Feb 29, 2020. He was the CEO of ComfortDelGro Australia from Dec 1, 2016, to June 30, 2019.

Mr Cheng was also a commander in the Singapore Airforce from 2014 to 2015.

Yang Ban Seng stepped down as CEO in March last year, following the appointment of Mr Cheng as acting CEO.