[SINGAPORE] Former Energy Market Authority (EMA) board director Pek Hak Bin has been appointed chief executive of energy transition firm H2G Green, as the home-grown company sharpens its focus on clean energy innovation and regional growth.
The 59-year-old, who took over the helm on Jun 1 from predecessor Lim Shao-lin, aged 56, brings more than three decades of experience in the energy sector, H2G said in a regulatory filing on Monday (Jun 16).
H2G, which is listed on the Catalist board, has a 50.1 per cent share in the hydrogen generation company Green Energy Investment Holding (GEIH), and a 52 per cent stake in GasHubUnited Utility, which specialises in the last mile distribution of liquified natural gas (LNG). It also fully owns lifestyle business P5 Design Ventures.
Prior to his new role, Pek was the executive director of United Petroleum International, a position he held since 2016. Other roles he held before that include a non-executive director position at EMA and serving as a partner and regional head of oil and gas at KPMG Singapore.
He was also a chairman and director of BP Singapore, where he was “instrumental in the early development” of LNG in Asia, said H2G. Natural gas, which produces the least carbon emissions among fossil fuels, is seen as a key transition fuel for Singapore as the city-state pushes towards net-zero emissions by 2050.
Nevertheless, while LNG has contributed to Singapore’s energy security and net-zero goals amid growing energy consumption, H2G said hydrogen is also “poised to become a cornerstone of Singapore’s clean energy mix once scalable solutions are achieved”.
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“International oil and gas majors have undertaken much of Singapore’s LNG business, but we also have enormous untapped potential right here with impactful home-grown companies like H2G,” said Pek.
“Looking ahead, this will be the priority for H2G – to expand possibilities for the impact domestic green energy firms can have, for Singapore and beyond.”
To steer H2G through its next phase of growth, the company said Pek will focus on three strategic priorities.
The first is to champion clean energy innovation in Singapore by demonstrating how domestic companies can meaningfully contribute to decarbonisation.
Second, the company aims to expand into South-east Asia, including markets such as the Philippines, Vietnam, Indonesia and Malaysia.
Lastly, H2G plans to forge commercial and institutional partnerships with “like-minded organisations regionally that share H2G’s values”.
‘Devoting time to personal affairs’
Lim stepped down as chief executive and executive director on May 31 – close to six years after being appointed on Jul 29, 2019 – to “devote more time to his personal affairs”, H2G said in a separate filing on Jun 2.
While the filing did not mention it, Lim has been charged under the Employment of Foreign Manpower Act for allegedly making false declarations about the employment of three individuals between 2018 and 2020.
One of the charges involves H2G’s former chief investment officer, while the others relate to staff at affiliated firm Gashubin Engineering, a wholly owned subsidiary of GasHub.
H2G noted in its 2024 annual report that aside from Lim, none of its directors or key management personnel have been charged, ordered or requested to assist in the Ministry of Manpower’s investigations into the matter.
It also clarified that the company itself is not among the parties charged in connection with the case.
Lim’s case is still before the courts.
As a controlling shareholder, Lim believed it was an appropriate time for the company to be led by an external professional with extensive leadership experience in both the oil and gas industry and public sector boards, the company added.
Lim previously led H2G’s strategic direction and business development, and has over 30 years of experience in gas engineering and clean energy.
He is also the long-time chief executive of GasHub, which he grew from a startup into a regional energy player.
Although stepping down from his executive roles, Lim will continue providing technical and operational guidance and help broaden H2G’s business networks in South-east Asia by remaining a director at GEIH and an adviser to GasHub.
As at the Jun 2 filing, Lim held 163.7 million ordinary shares in H2G and was deemed to have an interest in the 409.7 million shares held by GasHub, in which he owns a 60.25 per cent stake.
Lim’s wife, Leow Sau Wan, is also an executive director on H2G’s board.
H2G’s net loss narrowed to S$2.8 million for the second half-year ended Mar 31, from S$3.6 million in the year-ago period. It closed at S$0.006 on Friday (Jun 20), with a market capitalisation of around S$8.7 million.
