Announcement of Appointment of Vice-President, Marketing ...

Announcement of Appointment of Vice-President, Marketing ** Asterisks denote mandatory information"DISCLAIMER:- This announcement was prepared and issued by the below mentioned listed issuer tothe Exchange. The Exchange assumes no responsibility for the correctness of any of the statementsmade, opinions expressed or reports contained in this announcement and is posting thisannouncement on SGXNET for the sole purpose of dissemination only. In the event of any queries orclarification required in respect of any matters arising from this announcement, such queries are to bemade to the listed issuer directly and not to the Exchange. The Exchange shall not be liable for anylosses or damages howsoever arising as a result of the circulation, publication and dissemination ofthis announcement."Name of Announcer *SINGAPORE PETROLEUM CO LTDCompany Registration No. 196900291NAnnouncement submitted on SINGAPORE PETROLEUM CO LTDbehalf ofAnnouncement is submitted SINGAPORE PETROLEUM CO LTDwith respect to *Announcement is submitted by Helen Chong (Mrs)*Designation *Company SecretaryDate & Time of Broadcast 21-Jan-2009 00:19:05Announcement No. 00001>> Announcement DetailsThe details of the announcement start here ...Date of Appointment * 20-01-2009Name of person *Tay Lee Kiang, VincentAge * 50Country of principal residence * SingaporeThe Board's comments on this Please refer to footnote belowappointment (includingrationale, selection criteria, andthe search and nominationprocess) *Whether appointment isYes, as Vice-President, Marketing, Mr Tay is responsible forexecutive, and if so, the area of Commercial Sales, Lubricant Sales, Retail Sales & Development,responsibility *Special Products, Market Development & Ventures, andOperations & Logistics.Job Title (e.g. Lead ID, AC Vice-President, MarketingChairman, AC Member etc.)Working experience andoccupation(s) during the past10 years *February 2008 to 19 January 2009 – General Manager, Marketing.January 2007 to January 2008 – Senior Manager, Head CrudeSupply & Operations.September 2003 to December 2006 – Manager, Head CommercialSales.April 2002 to August 2003 – Manager, Head Retail Sales &Development.July 2000 to March 2002 – Manager, Retail Sales & Development.February 1996 to June 2000 – General Manager, Petmal Oil Sdn.Bhd.Interest * in the listed issuerand its subsidiaries *Direct Interest – 23,900 SPC Shares1

Deemed Interest(a) 14,500 SPC Shares comprised in outstanding awards grantedunder the SPC Restricted Share Plan; and(b) 35,000 SPC Shares comprised in contingent awards grantedunder the SPC Performance Share Plan.It should be noted that there is no certainty of delivery of sharescomprised in items (a) and (b) above as they are subject toPerformance Conditions and a Targeted Release Schedule (seeAnnexure attached).Familial relationship with anydirector and/or substantialshareholder of the listed issueror of any of its principalsubsidiaries *Conflict of interest (includingany competing business) *NoNo>> Other Directorships## These fields are not applicable for announcements of appointments pursuant to Listing Rule 704(9)Past (for the last 5 years)Director of:1. Petmal Oil Corporation Sdn BhdAlternate Director of:1. Eneos ItalSing Pte Ltd2. Singapore Carbon Dioxide Private LimitedPresentDirector of:1. Singapore Petroleum (China) Private Limited2. SPC Wearnes Pte Ltd3. Singapore Petroleum Venture Private Limited4. Eneos ItalSing Pte Ltd5. Singapore Carbon Dioxide Private LimitedPresident Commissioner1. PT Solar Premium CentralAlternate Director of:1. Singapore Petroleum (Indonesia) Private Limited>> Information required pursuant to Listing Rule 704(7)(h)Disclose the following matters concerning an appointment of director, chief executive officer,general manager or other officer of equivalent rank. If the answer to any questions is "yes", fulldetails must be given.(a)*Whether at any time during the last 10 years,an application or a petition under anybankruptcy law of any jurisdiction was filedagainst him or against a partnership of whichhe was a partner at the time when he was apartner or at any time within 2 years from thedate he ceased to be a partner? No(b)*Whether at any time during the last 10 years, Noan application or a petition under any law ofany jurisdiction was filed against an entity (not2

(c)*being a partnership) of which he was adirector or an equivalent person or a keyexecutive, at the time when he was a directoror an equivalent person or a key executive ofthat entity or at any time within 2 years fromthe date he ceased to be a director or anequivalent person or a key executive of thatentity, for the winding up or dissolution of thatentity or, where that entity is the trustee of abusiness trust, that business trust, on theground of insolvency?Whether there is any unsatisfied judgmentagainst him? No(d)*(e)*Whether he has ever been convicted of any Nooffence, in Singapore or elsewhere, involvingfraud or dishonesty which is punishable withimprisonment, or has been the subject of anycriminal proceedings (including any pendingcriminal proceedings of which he is aware) forsuch purpose?Whether he has ever been convicted of any Nooffence, in Singapore or elsewhere, involvinga breach of any law or regulatory requirementthat relates to the securities or futures industryin Singapore or elsewhere, or has been thesubject of any criminal proceedings (includingany pending criminal proceedings of which heis aware) for such breach?(f) * Whether at any time during the last 10 years, Nojudgment has been entered against him in anycivil proceedings in Singapore or elsewhereinvolving a breach of any law or regulatoryrequirement that relates to the securities orfutures industry in Singapore or elsewhere, ora finding of fraud, misrepresentation ordishonesty on his part, or he has been thesubject of any civil proceedings (including anypending civil proceedings of which he isaware) involving an allegation of fraud,misrepresentation or dishonesty on his part?(g)*(h)*Whether he has ever been convicted in NoSingapore or elsewhere of any offence inconnection with the formation or managementof any entity or business trust?Whether he has ever been disqualified from Noacting as a director or an equivalent person ofany entity (including the trustee of a businesstrust), or from taking part directly or indirectlyin the management of any entity or businesstrust?(i) * Whether he has ever been the subject of any Noorder, judgment or ruling of any court, tribunal3

or governmental body, permanently ortemporarily enjoining him from engaging inany type of business practice or activity?(j) Whether he has ever, to his knowledge, beenconcerned with the management or conduct,in Singapore or elsewhere, of the affairs of :-(i)* any corporation which has beeninvestigated for a breach of any law orregulatory requirement governingcorporations in Singapore or elsewhere;or No(ii)* any entity (not being a corporation) which Nohas been investigated for a breach of anylaw or regulatory requirement governingsuch entities in Singapore or elsewhere;or(iii)* any business trust which has beeninvestigated for a breach of any law orregulatory requirement governingbusiness trusts in Singapore orelsewhere; or No(iv)* any entity or business trust which hasbeen investigated for a breach of any lawor regulatory requirement that relates tothe securities or futures industry inSingapore or elsewhere,in connection with any matter occurring orarising during that period when he was soconcerned with the entity or business trust? No(k)*Whether he has been the subject of any Nocurrent or past investigation or disciplinaryproceedings, or has been reprimanded orissued any warning, by the Monetary Authorityof Singapore or any other regulatory authority,exchange, professional body or governmentagency, whether in Singapore or elsewhere?>> Information required pursuant to Listing Rule 704(7)(i)Disclosure applicable to the appointment of Director only.Any prior experience as a director of a listedcompany?FootnotesThe Board is pleased to announce the promotion of Mr. Vincent Tay to Vice-President, Marketing. Mr Tay has been leading and managing the SPCGroup’s Marketing function as General Manager, Head of Marketing, since 1September 2008.AttachmentsVT_20Jan2009.pdfTotal size = 14K(2048K size limit recommended)4

AnnexurePerformance Conditions – Restricted Share PlanIn respect of the contingent awards under and subject to Singapore Petroleum CompanyLimited’s Restricted Share Plan, these awards are part of a share-based incentive foremployees. Such contingent restricted shares are intended to be awarded annually,based on annual set corporate objectives. After the end of the annual period, the award ofthe restricted shares will be computed, based on the extent to which the performanceconditions at the corporate level, individual’s Key Performance Indicator achievementsand competency ratings have been achieved. The other terms and conditions include theprevailing personnel policies, the decisions and guidelines of the Nominating andRemuneration Committee (“NRC”) and all other relevant factors and circumstances,including the performance record, and relevant laws and regulations. If the performanceconditions are fulfilled at the end of the annual period, the duly determined quantum ofshares is expected to vest over a three year Targeted Release Schedule.Performance Conditions – Performance Share PlanIn respect of the contingent awards granted under the Singapore Petroleum CompanyLimited’s Performance Share Plan, these awards are part of the long-term incentive planfor key executives. Contingent performance shares are typically awarded at the beginningof a three-year performance cycle and the final award will be subject to the extent to whichthe performance conditions have been achieved at the end of the relevant cycle. Thethree-year stretched performance target is aligned to pre-determined performance criteria.The other terms and conditions the NRC will take into consideration include not only theextent to which the performance conditions have been achieved, but all other relevantfactors and circumstances, including relevant regulations prevailing at the time of releaseof Award. Upon determination by the NRC of the performance conditions being fulfilled atthe end of the three-year cycle, the duly determined quantum of shares would be targetedfor release in February of the year following the relevant 3-year performance period.