Sembcorp appoints Pavilion Capital CEO as non-executive, non-independent director

SEMBCORP Industries has appointed Tow Heng Tan as a non-executive, non-independent director with effect from Tuesday. He has also been appointed a member of the board's executive committee, the company announced in a filing to the Singapore Exchange before market open.

The 65-year-old is currently the chief executive of private equity firm Pavilion Capital, which is a unit of Temasek Holdings.

Mr Tow is a chartered accountant with the Institute of Singapore Chartered Accountants, and is also a fellow member of both the Association of Chartered Certified Accountants, UK, and the Chartered Institute of Management Accountants, UK.

He is also a director on the boards of several companies, including Fullerton Financial Holdings, Keppel Capital, National Healthcare Group and ABC World Asia. He is also a member of the investment committee at Temasek Trust.

Prior to taking up the new role at Pavilion Capital, Mr Tow held senior leadership roles such as the chief investment officer of Temasek International, a senior director of DBS Vickers, a managing director of Lum Chang Securities, as well as an investment banker with Schroders Singapore.

Mr Tow's past directorships include stints on the boards of ComfortDelGro, Keppel Corporation, as well as ST Asset Management.

He was also a member of the advisory board for the Centre of Asset Management Research and Investments at the National University of Singapore Business School, and a member of the investment committee at the National Council of Social Service.

Sembcorp Industries said the appointment of Mr Tow was endorsed by the nominating committee, and approved by the board.

As at 10.09am on Tuesday, shares of Sembcorp Industries were trading at S$2.26, up S$0.03 or 1.4 per cent.