PROPERTY, construction and education group Chip Eng Seng said on Thursday that it has appointed former minister for communications and information Yaacob Ibrahim as an independent director.

It is the first time that Professor Yaacob, 64, is serving as a director of a listed company on the Singapore Exchange. He has also served as a director of Surbana Jurong since January last year. He was Singapore's minister for communications and information from May 2011 to April 2018.

Separately, Chip Eng Seng said that the board has also formed a three-person investment committee, chaired by independent director Low Teck Seng. Prof Low, who is the chief executive of the National Research Foundation, joined Chip Eng Seng's board last December.

Chip Eng Seng shares closed flat at S$0.625 on Thursday.