CrimsonLogic

New Chief to Leverage Over 13 Years of Leadership Experience in APAC Region

SINGAPORE, 17 May 2006 – CrimsonLogic, a leading IT services provider has appointed Leong Peng Kiong as its new CEO, effective immediately. In this position, Peng Kiong will be responsible for setting the strategic directions for the company as well as leading the company in penetrating new markets globally. He had been Acting CEO of the company since October 2005.

Peng Kiong brings to CrimsonLogic more than 13 years of leadership experience from organizations including International Enterprise Singapore (IE Singapore) and Norsk Hydro Asia, regional headquarters of Norsk Hydro, a Norwegian MNC with businesses in Light Metals, Fertilisers, Oil & Energy and Chemicals. Prior to that, he was Senior Vice President of Temasek Holdings (Pte) Ltd, in charge of its investments across a wide spectrum of industries in the Asia-Pacific region.

Concurrent to his appointment in IE Singapore, Peng Kiong was also Senior Vice President (SVP) of IE Singapore Holdings. In that capacity, he was responsible for overseeing the investments by its subsidiary and associate companies, and led in defining the strategic direction of their businesses. Peng Kiong will continue to hold the post of SVP at IE Singapore Holdings. He has a Master of Arts (Engineering Science) from Oxford University.

"I am delighted to accept this position of CEO of CrimsonLogic. Among its many strengths, CrimsonLogic has a solid 18-year track record in IT solutions provisioning and dedicated professionals with strong domain skills and knowledge. Last year, the company clinched several mega projects including the Turkey eGovernment Gateway and TradeXchange. The company will continue to focus on developing transformative IT solutions for the trade facilitation, government, legal and healthcare domains. I look forward to working closely with the team as CrimsonLogic enters a new, exciting phase of growth and development."

Kenneth Lim, Vice President of Technology Development, has taken on the dual role of Vice President, Trade & Logistics since October 2005. Isaac Koh came onboard as Financial Controller in January 2006.