SINGAPORE--(BUSINESS WIRE)--Regulatory News:
Mr Chan Eng Yew, 41, Chief Financial Officer (CFO) of EOC Limited (“EOC” or “the Group”), one of Asia’s leading providers of offshore production services to the oil and gas (O&G) sector, will be stepping down at the helm after attaining a steady revenue stream for the Group in FY13. EOC started FY14 with a fourfold jump in net attributable profit to US$3 million for the first quarter ended 30 November 2013 (1QFY14).
Succeeding him is Mr Jason Goh, 38, who will be taking over the role of CFO as the Group moves forward with its enhanced business and operational focus. The current changes are in line with EOC’s plan for leadership renewal.
Outgoing Chief Financial Officer Mr Chan Eng Yew
Mr Chan will step down as CFO with effect 1 February 2014. During his tenure, he had played a strategic role in actively building EOC’s portfolio in financial operations, investor relations and in the area of corporate services. He played a key role in EOC’s listing on the Oslo Bors in 2007, positioning EOC as the first Singapore Company to list in Norway.
Incoming Chief Financial Officer Mr Jason Goh
Mr Jason Goh is currently Ezra Holding Limited’s General Manager for Corporate Finance and will assume the role of Chief Financial Officer for EOC with effect 1 February 2014. He will be responsible for EOC’s overall financial operations, as well as look after investor relations and corporate services. At Ezra, Mr Goh was responsible for overseeing the group’s capital management activities and developing the group’s funding strategy. Mr Goh was also instrumental in supporting the group’s global business expansion through the completion of various key acquisitions and corporate finance transactions. Prior to joining Ezra Holdings Limited, Mr Goh was an Associate Director of Investment Banking at CLSA Merchant Bankers Limited where he advised on and executed a range of transactions including initial public offerings, placements and corporate advisory services to clients throughout Southeast Asia. Before joining CLSA, he was in legal practice with Stamford Law Corporation where his focus was on mergers and acquisitions, capital markets and corporate finance matters. Mr Goh holds a Bsc (Double Honours) in Law (Second Upper) and Accounting (First Class) from the University of Southampton and started his career as a Management Associate at Citigroup’s Global Corporate and Investment Bank.
“The change in leadership is part of EOC’s commitment to its valued shareholders in remaining efficient and effective while gaining valuable lessons from the best of talent,” said Mr Jon Dunstan, Acting Chief Executive Officer for EOC.
“The culmination of effort by Mr Chan will be built upon by Mr Goh, and with his deep corporate experience, I am excited by the prospects for EOC in the coming years.”
ABOUT THE COMPANY
Oslo Børs listing: October 2007
EOC Limited offers offshore floating production services that support the full life cycle of offshore oil and gas (O&G) production. It owns and operates two floating production, storage and offloading (FPSO) vessels, the Lewek Arunothai and the Lewek EMAS, and a fleet of construction vessels. The Group has conducted operations in Australia, Brunei, India, Indonesia, Malaysia, the Middle East, the Philippines, Vietnam and Thailand, and continues to do so currently.
EOC’s successful operational and HSE (health, safety and environment) track records have enabled the Group to establish strong working relationships with leading international oil majors, national oil companies and various independent operators. In addition, these ties have brought in a steady stream of repeat business and recurring income.
The Group is an associate company of Singapore Exchange-listed Ezra Holdings Limited, a leading global offshore contractor and provider of integrated offshore solutions to the O&G industry.
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