Ng Yat Chun to succeed Ron Widdows at NOL

ng_ycA former Chief of the Singapore Defense Force is to succeed shipping industry veteran Ron Widdows as Group President and CEO of NOL Group, the parent of container shipping giant APL. Under a succession plan announced today, when Mr. Widdows retires from his present post, he will be succeeded byt Mr. Ng Yat Chung.

Mr. Ng is currently a senior executive with Singapore's state-owned investment fund, Temasek Holdings, which has a 66 percent stake in NOL Group.

Mr. Ng spent 28 years in key leadership roles in Singapore's Armed Forces (SAF). Prior to joining Temasek Holdings, he was Chief of Defense Force from 2003 to 2007.A Cambridge graduate with an MBA from Stanford, he most recently headed Temasek's Energy & Resources portfolio and was co-head of Australia & New Zealand and co-head of Strategy.

Mr. Ng will be appointed as an Executive Director to the Board of Directors with effect from May 1, 2011. He will be working closely with Mr. Widdows before assuming full responsibilities as the Group President and CEO.

Mr. Widdows will remain with NOL Group as a Senior Advisor.

April 25, 2011

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