On 20 May 2008, PetroSeraya, a subsidiary of the PowerSeraya Group, received the Global Trader Award from International Enterprise (IE) Singapore, a first for a power generation company. The award, which recognises companies that base their offshore trading and operations in Singapore, has allowed PetroSeraya to enjoy a concessionary tax incentive.

PetroSeraya’s admission into the Global Trader Programme serves as an excellent platform for the company to scale up its operations and become a $1 billion business.

Since its establishment in April 2007, PetroSeraya has been a success, turning in profits in its maiden year. Trading revenue was also about 10 per cent of the PowerSeraya Group’s total revenue for the last fiscal year ending March 2008.