YTL PowerSeraya named deputy CEO Lim Han Kwang as its next chief executive, effective 1 January 2027, as incumbent John Ng steps down but remains on the board. The Business Times and The Edge Singapore reported the succession.
The choice is an internal promotion that concludes a planned handover launched in 2024. Lim was elevated to deputy CEO then, while continuing as chief executive of Geneco, YTL PowerSeraya’s retail subsidiary. That gives the incoming leader experience both in the parent company’s management and in a customer-facing electricity business. The Edge describes the transition as a deliberate succession rather than a response to a sudden vacancy.
Ng will leave the CEO role after leading the company through what The Business Times described as its most profitable stretch to date. He is expected to remain a director, keeping his industry knowledge and strategic counsel on the board while day-to-day leadership passes to Lim. The change therefore preserves a governance link to the outgoing executive without keeping him in the operating role.
YTL PowerSeraya chairman Francis Yeoh said the succession reflects a commitment to continuity, disciplined execution and long-term value creation. The Edge also framed Lim’s appointment as part of the company’s next growth phase and Singapore’s energy transition. Those statements point to a familiar board priority: retaining the current strategic direction while preparing a new executive to own delivery.
For readers following leadership shifts in Singapore, the handover follows a different timetable from SGX chief executive Loh Boon Chye’s planned departure. In YTL PowerSeraya’s case, the successor is already inside the business and the start date is fixed. The next milestone is 1 January 2027, when Lim assumes the CEO role and Ng moves into his continuing board position.
As CEO, Lim will oversee three units: retail arm Geneco, tank-storage business PetroSeraya and Taser Power. The Business Times reports that YTL PowerSeraya is building a 600-megawatt hydrogen-ready combined-cycle gas turbine at Pulau Seraya, targeted for commissioning by late 2027, and is wholly owned by Malaysia-listed YTL Power International. That gives the incoming CEO a defined operating scope and an infrastructure milestone beyond the January handover. The Business Times
