Michael Sengol Ends Term as Chief Executive Officer of Meritus Hotels & Resorts

Dr Stephen Riady, Executive Chairman of Singapore Exchange-listed Overseas Union Enterprise (OUE) Limited, announced the stepping down of Michael Sengol from his role as Chief Executive Officer of Meritus Hotels & Resorts, the hospitality division of OUE.

(Logo: http://www.prnasia.com/sa/2011/12/09/20111209194931399475-l.jpg )

"Michael has delivered the business objectives I set for him, and I am grateful for his contribution that led to greater awareness for our heritage hospitality brand and the unprecedented financial results he achieved for the division since taking helm at Meritus," said Dr Riady.

In 2010, Michael returned to Singapore after many years of being overseas to take on the challenge of turning around the Meritus brand. Under his leadership, the brand received numerous recognition in the industry for productivity and excellence.

Added Dr Riady, "As an organisation focused on driving growth, we intend to build on the successes that Michael has started for the hospitality division. Meanwhile, I wish Michael every success as he pursues his personal interests."

Notes to Editors

About Meritus Hotels & Resorts

Meritus Hotels & Resorts is the hospitality division of Singapore Exchange-listed Overseas Union Enterprise Limited (OUE) which is amongst the key property players in Asia, and one of the few integrated developers in Singapore boasting a complete portfolio of prime assets across the retail, commercial, residential, and hospitality sectors.

As an award-winning hospitality brand, Meritus is synonymous with Asian hospitality and heritage, with luxury properties strategically located in key cities and idyllic resort destinations in Singapore, Malaysia, Indonesia, and Mainland China. Its current portfolio includes the flagship Mandarin Orchard Singapore, Marina Mandarin Singapore, Meritus Pelangi Beach Resort & Spa Langkawi, Meritus Surabaya City Centre, Meritus Mandarin Haikou, and Meritus Shantou China.

Meritus Hotels & Resorts was recently awarded the Most Popular Heritage Brand by Singapore Prestige Brand Awards 2011.

For more information and to enjoy Best Rates by Meritus, visit www.meritushotels.com.

For further press information, please contact:

Janice Azupardo

Regional Vice President, Branding & Communications

Meritus Hotels & Resorts

Tel: +65-6831-6385

[email protected]

Grace Ho

Branding & Communications Manager

Meritus Hotels & Resorts

Tel: +65-6831-6054

[email protected]

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