Former EMA board director now leads energy firm H2G; predecessor stays on amid court case
[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.
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Business Times
a day ago
- Business Times
Former EMA board director now leads energy firm H2G; predecessor stays on amid court case
[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'. A NEWSLETTER FOR YOU Friday, 12.30 pm ESG Insights An exclusive weekly report on the latest environmental, social and governance issues. Sign Up Sign Up '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.
Business Times
3 days ago
- Business Times
C-suite on demand: Is Singapore ready for 'fractional leaders'?
[SINGAPORE] In October 2022, marketing executive David Lim was laid off by his employer HappyFresh, a Jakarta-headquartered online grocery platform that was an early casualty of South-east Asia's funding winter. Lim, who was a senior vice-president of marketing and managing director based in Indonesia, returned to Singapore to figure out his next career move. Despite offers of a full-time position as chief marketing officer (CMO), he turned them down in favour of a more unconventional route. 'I was looking for better work-life integration and to have more control of my time. I was tired of climbing the corporate ladder, but I also knew the value I could bring to businesses,' he says. Today, Lim is a 'fractional' CMO. He joins a growing pool of mid to late-career professionals who identify as 'fractional leaders': highly experienced executives who provide strategic leadership to organisations on a part-time basis. In other words, the gig economy – traditionally associated with blue-collar jobs – has now infiltrated the C-suite. A NEWSLETTER FOR YOU Friday, 8.30 am SGSME Get updates on Singapore's SME community, along with profiles, news and tips. Sign Up Sign Up Recruitment firms here report growing interest in fractional hiring, from startups to global corporations. And fractional leaders have built agencies to offer their specialised expertise, adding headcount to support them. Yet, observers note that employer demand has not kept pace with the booming supply of fractional talent in Singapore. Amid shifting workforce expectations, are companies ready to fully embrace this new and flexible hiring model? Filling a gap Fractional leaders typically fill roles across key functions such as CMO, chief financial officer (CFO), or chief human resources officer (CHRO), working anywhere from one to three days a week for a company. They are not simply contract workers, nor are they consultants. They are distinctly hired for senior leadership positions, where they are deeply embedded within the organisation and occupy a seat at the table. Such professionals are directly responsible for results, overseeing both strategy and execution, and are expected to lead internal teams. As opposed to being hired for short-term projects, they also tend to work with companies on an ongoing basis, with engagements spanning from six months to multiple years. It appears to be a win-win strategy. The executives get more leeway with regard to time. And, for resource-strapped firms, it is an increasingly viable, long-term solution to bring in top-tier talent – but at a fraction of the cost. For working one to two days a week, a fractional leader could roughly command 30 to 50 per cent of a full-time equivalent's salary, estimates Eric Okumu, head of global organisational consulting firm Korn Ferry's interim executive practice across Asia. Elena Chow, founder of talent solutions consultancy ConnectOne, says: 'What's interesting is how creative and innovative people can be nowadays when it comes to building teams – you're not limited to just one way anymore.' Gaining traction While fractional leaders have existed in North America for decades, the concept only began gaining traction in Asia, including Singapore, in recent years. More experienced professionals are choosing flexibility and variety over linear corporate progression these days, says Okumu. The employer-employee relationship has also evolved, with workers no longer feeling obligated to be loyal to one company forever. Such shifts have, in turn, led to the rise of portfolio careers, which refers to the practice of having several jobs simultaneously. Fractional leaders fall into this space, as they often work with multiple clients at a time. ConnectOne's Elena Chow says founders are no longer limited to just one way to build a team. PHOTO: CONNECTONE An ecosystem is taking shape in Singapore. Ground-up initiatives and new business models offering fractional leadership 'as a service' have sprouted. In September 2024, The Fractional Directory Singapore was launched as a free public online resource to connect fractional leaders based in the Republic with companies looking to hire them. In less than a year, the pool of Singapore-based fractional leaders listed in the directory has more than doubled to 500. The website allows employers to search for specific talent using filters and connects them to suitable candidates. Mark Mullinix, the directory's general manager, says: 'We wanted to make it easier for employers to find and source fractional leaders. A lot of placements have always been based on personal referrals and the strength of one's network.' Then there is Portfolio Careers in Asia, a talent community that gathers and supports seasoned professionals pursuing high-end portfolio careers – including fractional roles – across the region. Its LinkedIn group has grown to nearly 1,500 members across Asia, up from just 30 in 2023. It has a WhatsApp chat group and holds regular virtual and in-person networking events for members, all of whom have at least 10 years' working experience. Two-thirds of the members are from Singapore, with more than half identifying as fractional leaders, says founder Moritz Kaffsack. He also runs an agency providing top independent talent, including fractional leaders, as a service. Moritz Kaffsack founded Portfolio Careers in Asia, a community that supports seasoned professionals pursuing high-end portfolio careers, including fractional roles. PHOTO: Meanwhile, Lim founded fractional marketing firm Avante Strategies with a business partner. The duo serve as fractional CMOs and have 10 employees. Strategic leadership on a budget On the demand side, more companies in Singapore are seeking critical talent to scale their operations while on tighter budgets. This is quite different from some years ago. Chow, who first began advocating for the hiring of fractional leadership in 2018, recalls how the idea was hardly well-received by boardrooms here at the time. 'There was still a stigma about part-time independent talent back then, that they are less committed. One major concern firms had was, 'Can this person really deliver the outcome I want in, say, three days?'' she says. But, following massive tech layoffs between 2022 and 2024, an unprecedented surfeit of available talent has flooded the market, note observers. 'Layoffs were happening, but these startups still needed to grow,' says Chow. 'So they needed to be very smart on sourcing headcount, which is when they became more receptive to fractionals.' The number of job positions listed by ConnectOne that are open to fractional hires has trebled this year from 2024. These postings have come from mostly startups, including those affected by the funding winter, on top of a few small and medium-sized enterprises (SMEs). Korn Ferry has seen six times more requests from Singapore-based firms seeking fractional leaders in 2025, compared with last year. Demand has been predominantly from mid-sized multinational corporations (MNCs), which are part of the agency's core customer base. Korn Ferry's Eric Okumu estimates that a fractional leader could roughly command 30% to 50% of a full-time equivalent's salary, for working one to two days a week. PHOTO: KORN FERRY Cost-effectiveness aside, a big appeal of fractional leaders lies in their ability to be deployed 'within days or weeks' and deliver results with little to no ramp-up period, says Okumu. Dr Susan Chen, who identifies as a fractional CHRO, concurs. An in-house HR leader for nearly 20 years, she established boutique HR strategy and fractional consultancy Co:grow in 2024, hiring four full-time staff. Co:grow currently has seven clients that are using its fractional services. The firm signs non-disclosure agreements and does not take on direct competitors to avoid conflict of interest. Before engaging her, most clients had given 'the alternative' a shot: hiring a full-time and more affordable junior employee, but one who ultimately lacked the experience to provide strategic leadership. According to her, the role requires a specific skillset. Context-switching is key to succeed as a fractional leader in the long term, notes Dr Chen, as they must regularly juggle clients across diverse industries. One must also be comfortable setting strategies at a fast pace, on top of leading and mentoring a team that can execute their directives when they are not around, says Mullinix. He is a fractional chief of staff and offers his services under vehicle Growth Vectors. He adds: 'If you're only there eight hours a week, those eight hours better be spent at a full-speed run, not standing by the water cooler and talking shop.' Structural barriers and challenges Though the strategy is gaining momentum, structural barriers to hiring fractional leaders still persist in Singapore. These range from a lack of onboarding processes and internal policies to properly integrate fractional leaders into the workforce, to unfamiliarity with the concept and the value such talent can offer, say observers. Okumu notes that most traditional HR frameworks are designed around permanent or temporary contracts, with newer flexible hiring models sitting 'in between'. Companies may also expect 'full-time' outcomes from fractional leaders, but not grant them access to the necessary data and systems to work effectively, he adds. 'When such arrangements don't work, it's often because the fractional leader hasn't been empowered or supported by stakeholders. Companies need to make sure this person is set up for success.' Before engaging her as a fractional CHRO, Co:grow's Susan Chen says most clients had hired a full-time and more affordable junior employee, but realised he or she ultimately lacked the experience to provide strategic leadership. PHOTO: DR SUSAN CHEN To avoid pitfalls, companies and fractional leaders should ensure that the job scope and expected job outcomes are aligned, advises Chow. They should also be flexible to rescope and review job outcomes when necessary. Salary negotiation is a thorny issue too. Despite providing strategic leadership, fractional leaders are often short-changed by being paid less since they work fewer hours, notes Dr Chen. 'We shouldn't be seen as cheap labour,' she says. Her agency Co:grow charges between S$3,500 and S$9,000 a month for fractional CHRO services, depending on the scope and number of working hours. Chow points out that while firms can refer to existing compensation structures for full-time roles, pricing for fractional leaders can appear 'arbitrary'. As she sees it, such experienced talent command a premium in the market as they can deliver impact fast. 'You are not paying them for time, but for quick outcomes.' Another reason, she adds, is that they typically do not receive benefits accorded to traditional employees, such as medical insurance, annual leave, severance pay and employer's Central Provident Fund contributions. Large MNCs remain the biggest laggards in fractional hiring globally due to more entrenched structures, notes Okumu. On the other hand, smaller businesses such as startups and SMEs are more willing to experiment with new ways of working, as they need to 'react and survive'. Business owner Kannan Chettiar is a firm adopter of the fractional leadership model. He is the founder and chief executive officer of Avvanz, a Singapore-based SME providing employment background checks and screening services. As Avvanz began to scale overseas, Chettiar realised that his team of marketing managers could not keep up with the growing demands of the business. A full-time CMO was out of his budget, but a part-time one made perfect sense to him. 'Let's face it: How many C-suite executives in a company are working throughout a nine-to-five workday?' he quips. 'They could be having a long lunch, golfing, networking. I want only the best of them, not all of them.' Kannan Chettiar, founder and CEO of Singapore-based SME Avvanz, is a firm adopter of the fractional leadership model. PHOTO: AVVANZ Chettiar hired a fractional CMO in late-2023, who remains with Avvanz today. A second fractional leader – a chief technology officer – joined in May. He is now looking to add a fractional CFO and a fractional CHRO to the firm. While he is conscious that fractional leaders divide their time among other clients, he asserts that trust is crucial for such arrangements to work. 'I will not watch the clock, and neither should they. It's a trade-off: you give them respect and time to breathe, and they'll be committed to do the best for your company.' Growing the fractional ecosystem Still, ingrained mindsets equating longer hours with productivity are difficult to shake off. Lee Tuck Wai, who chairs the Association of Small and Medium Enterprises' (Asme) human capital group, observes that many traditional family businesses are still accustomed to time-based hiring models and are sceptical of a fractional leader's ability to commit to the firm. 'With fractionals, you have to think in terms of key objectives,' says Lee. 'The value comes from outcomes achieved – and not how long you stay in the office.' Some headway has been made on the education front. In March, Asme organised a focus group discussion with 15 SME owners to introduce them to the fractional employment model and gauge their receptivity towards hiring such talent. Lee says the association is now working with Workforce Singapore to explore the development of a pilot programme that will match SMEs to fractional leaders based on their business needs. Lee Tuck Wai, who chairs Asme's human capital group, observes that many traditional family businesses are still accustomed to time-based hiring models. PHOTO: CYRIL NG On May 28, The Fractional Directory Singapore held its first in-person seminar for businesses keen on learning how to hire a fractional leader. The event, which had a capacity of 30, ended up being oversubscribed. The directory is currently collaborating with partners to develop a series of toolkits on fractional hiring for firms, says Mullinix. These will cover areas such as the screening and selection of fractional leaders, as well as designing the onboarding processes and job scope. As for nurturing talent, Portfolio Careers in Asia has run multiple webinar series for its members at different stages of their fractional careers. This April, it launched a new six-part 'fractional masterclass' series to help seasoned fractional leaders hone their craft. Planned topics include enhancing one's personal brand, advanced pricing and negotiation strategies, as well as mastering client dynamics. Mullinix believes that the fractional leadership model is poised 'to break through' in Singapore soon – and that the Republic has no time to waste in building the necessary structures for success. 'This is something bigger than a niche way of working. It's a reimagining of the employer-employee relationship, where some of the best and brightest talent no longer wish to take on a traditional full-time role,' he says. 'Employers in Singapore that do not find a way to tap that talent will fall behind.'
Straits Times
15-06-2025
- Straits Times
The truth about coverage: Is pet insurance worth paying for?
Pepper the beagle was four when her family insured her as she has liver issues and they anticipated her healthcare expenses to rise. PHOTO: COURTESY OF FELICIA LIM SINGAPORE – When the Lim family's pet beagle, Pepper, was four, they decided to insure her as she has liver issues. 'We knew it would be challenging or expensive if we got her insured after her condition worsened, so we had to be quick about it,' said administrative executive Felicia Lim, 57. 'There were limited policies provided by the insurance company, so I just went with what the agent recommended, which was the basic plan.' Today, at eight years old, Pepper makes frequent and costly visits to the vet, undergoing regular blood tests and long-term medication. When Mrs Lim bought insurance for Pepper, there was only one company – Liberty Insurance – that offered to insure pet dogs. On the advice of her insurance agent, she chose the most basic plan, which provides partial coverage of medical expenses such as surgical and non-surgical treatments, for an annual premium of almost $400. 'We were not able to predict if her condition will worsen as she ages, so having her insured may help alleviate some financial pressure with future medical care ,' Mrs Lim said, adding that the family is worried the insurance coverage might not be enough. Under the Liberty Pet Care plan, the claim limit for veterinary expenses is $700 for non-surgical treatment and $2,500 for surgical treatment, according to the insurer's website. With more people treating their pets like family members, animal medical treatment expenses can soar, just like healthcare for humans. Expensive diagnostic scans, surgery and cancer treatments are routinely offered – and accepted – escalating costs. In one case, a couple emptied their savings and sold their Housing Board flat in 2023 to clear the credit card loans they took for their dog's medical bills, but the French bulldog did not survive. To mitigate the burden of unexpected veterinary expenses, pet owners are turning to insurance. Today, there are six insurers – including Income and AIA – offering coverage for dogs and cats. Most help cover fees for veterinary services such as consultations, medications, surgeries, and hospitalisations. One or two policies offer only lump-sum critical illness coverage, treatment after accidents, and cremation or burial expenses if the animal dies due to an accident. A few plans only cover accidental injury and third-party liability, which applies when the pet causes injury to someone or damage to someone else's property. Silversky Protect, underwritten by MSIG, was the latest to join the furry fray in December 2024. Like the other pet insurance plans, Silversky Protect offers pet owners essential coverage that typically includes hospitalisation, surgery, vet visits, and prescription medication for medical conditions arising from accidents and illnesses. It also provides coverage for post-surgery treatment and third-party liability, according to the MSIG website. For instance, policyholders can choose their preferred vet clinic for treatment, and coverage for hospitalisation and surgery goes up to $13,000. No clinical examination is required to qualify for coverage, and a no-claim discount of up to 15 per cent is available, based on the website. One of the highest surgical payout is from Tiq by Etiqa, which offers up to $15,000 for surgical expenses under its premier-tier plan. Although other insurers may offer optional coverage such as chemotherapy or pet boarding, their base surgical coverage might not be as high as Tiq's. When buying pet insurance, there is no one-size-fits-all policy, said Assistant Professor Wei Pengyu from the Division of Banking and Finance at NTU's Nanyang Business School. 'Each insurer offers a different mix of coverage and premiums. Some offer better protection, such as lifetime coverage, low deductibles, and high annual limits, but may fall short on affordability,' he said. 'A good policy should strike a balance between coverage and affordability, and have clear terms and a smooth claims process. What's `better' depends on the pet's care needs and the owner's budget and expectations.' Pet owners should consider what they want from the policy, and how much they can afford to pay to have the coverage. For instance, most policies in Singapore will cover pets up to nine years of age, but there are some that continue coverage beyond this age – sometimes with revised terms or additional premiums. Lifelong coverage may seem attractive, 'especially as healthcare costs typically spike in a pet's later years when chronic conditions emerge', noted Prof Wei. But plans with lifetime renewal are more expensive and may impose increasing deductibles or co-payments as the pet ages. They may also impose more exclusions and lower claim limits as the pet gets older, he said. The real value of a pet insurance plan lies in its coverage during a pet's younger and middle years, said Dr Lee Yen Teik, a senior lecturer in the Department of Finance at the NUS Business School. This is primarily because premiums tend to be lower during those years and pre-existing conditions are less likely to be excluded. As pets age, their risk of developing health issues increases, leading to higher insurance costs and potentially limited coverage options, much like what is seen in human health insurance. Pet owners should also look at what the policy excludes. For instance, congenital conditions, which may surface only after the pet has been adopted, can incur large, unexpected bills. Some policies will cover congenital conditions, while others will not. 'However, inclusion of congenital cover usually comes at a higher premium or with required vet assessments. While it is a plus, it's not necessarily the right choice for everyone. It is the trade-off between coverage and affordability,' Dr Wei said. Agreeing, Dr Lee said the catch here is that the policies 'may require a 12-month waiting period or a vet check-up before coverage for conditions like cherry eye or hip dysplasia actually starts'. The waiting period ensures that a condition does not already exist at the time of enrolment, which will help insurers mitigate the risk of covering pre-existing illnesses. Cherry eye is a condition in which a dog's tear gland in the third eyelid slips out of place, appearing as a red, swollen lump in the corner of the eye. Hip dysplasia, which is more common in larger breeds such as Labradors, occurs when the hip joint is loose or malformed, leading to pain, inflammation, and arthritis over time. 'If your pet develops the issue during that wait, it likely would not be covered. So, if you have a breed prone to such issues, enrolling them very young is absolutely key to getting that protection,' he said. Dr Wei advised pet owners to enrol early, as many plans stop accepting new applicants once pets reach nine years old. He also urged owners to read the terms carefully to ensure that the policy coverage matches their pet's potential vet care needs. If the budget allows, they should choose lifetime and congenital cover which provides more robust protection. Dr Lee advised pet owners not to be swayed by high payouts alone. 'A $15,000 overall limit means little if the specific conditions your pet's breed is prone to, such as hip dysplasia in Labradors, are excluded, have tiny sub-limits, or long waiting periods,' he said. 'The best policy is one that actually covers your pet's most likely expensive health risks, not just the one with the biggest headline figure.' 'Don't just grab the cheapest or most advertised plan. Think of choosing pet insurance like careful matchmaking for your pet's specific needs,' Dr Lee added. Sometimes, a policy with a lower premium that covers only critical illnesses or accidents may be the best option for a pet owner. 'The hard truth is that major vet bills in Singapore for things like cancer treatment or complex surgery can easily hit thousands, or much more. Unlike your own health, there's no MediSave or government subsidy for your pet. 'A modest annual premium can be the difference between getting the best care and facing a devastating financial decision. It's for the big, unexpected disasters, not the routine check-up,' he said. Join ST's WhatsApp Channel and get the latest news and must-reads.
