YTL PowerSeraya names Lim Han Kwang as CEO to succeed John Ng

[SINGAPORE] YTL PowerSeraya has appointed deputy chief executive officer Lim Han Kwang as its next head, marking a change in leadership at one of Singapore’s largest power producers as the city-state advances its decarbonisation targets.

Lim will assume the role of chief executive officer on Jan 1, succeeding John Ng, who will step down after leading the company through its most profitable stretch to date, YTL PowerSeraya said in a statement on Monday (Oct 26). Ng will remain on the board as a director.

The succession marks the culmination of a planned handover process that started in 2024, when Lim was elevated to deputy CEO while retaining his role as chief executive of Geneco, YTL PowerSeraya’s retail unit.

Lim, who previously held roles at the Energy Market Authority, Singapore Power and Sembcorp Industries, rejoined the group in 2020 as group head of strategy and risk management. As CEO, he will oversee retail arm Geneco, tank storage unit PetroSeraya and Taser Power.

Lim takes charge as regional utilities balance grid reliability with heavy capital expenditure required for cleaner power infrastructure. The group is currently constructing an estimated S$800 million, 600-megawatt hydrogen-ready combined cycle gas turbine at its Pulau Seraya site, targeted for commissioning by late 2027.

Ng, who previously led Singapore LNG Corp, returned for a second stint as CEO in January 2019. During his tenure, the company dealt with volatility sparked by geopolitical conflicts in Europe and the Middle East, posted record earnings and acquired the 396-megawatt Tuaspring power plant in 2022 to expand its domestic generation footprint.

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“This succession reflects our commitment to continuity, disciplined execution, and long-term value creation,” said Francis Yeoh Sock Ping, chairman of YTL PowerSeraya and executive chairman of YTL Power International.

YTL PowerSeraya is a wholly owned unit of Malaysia-listed YTL Power International.