MAS reappoints DPM Gan as chairman; adds SBF’s Ong Pang Thye to board

[SINGAPORE] Singapore’s central bank will reappoint four directors for fresh terms from Jun 1 – including its chairman, Singapore’s deputy prime minister Gan Kim Yong, and its managing director Chia Der Jiun.

The Monetary Authority of Singapore (MAS) on Tuesday (May 12) also named accounting veteran Ong Pang Thye as a new director, effective Jun 1 as well.

DPM Gan will be MAS’ chairman for another three-year term, till May 31, 2029. Chia will serve as MAS’ managing director and board member for another two years, up to May 31, 2028.

Ong, who is vice-chairman of the Singapore Business Federation (SBF), will hold a three-year term on MAS’ board, till May 31, 2029.

He was previously managing partner at KPMG Singapore, and now sits on the boards of Temasek, Singapore Power and MOH Holdings.

His experience in accounting and consulting across many industries “will be valuable to the MAS board as we navigate an increasingly complex and turbulent world”, said DPM Gan in a statement.

The other two MAS directors to be reappointed for fresh terms from Jun 1 are:

• Singapore’s Attorney-General Lucien Wong, for another three years till May 31, 2029
• Chaly Mah, chairman of NetLink NBN Management, for a final one-year term till May 31, 2027. He will be re-appointed as chairman of the audit committee for the same duration.