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Tharman reappointed MAS chairman; Chaly Mah to join board as Lim Chee Onn retires

DEPUTY Prime Minister Tharman Shanmugaratnam has been reappointed chairman of the Monetary Authority of Singapore (MAS), while Lim Chee Onn, senior international adviser at Ascendas-Singbridge will be stepping down, the MAS announced in a press statement on Friday.

Mr Lim, a former Cabinet minister, will retire from the MAS board and step down as chairman of the risk committee on May 31.

Said Mr Tharman: "Mr Lim served as an active member of the MAS board for more than 14 years. As chairman of the risk committee, Mr Lim played an important role in strengthening MAS' risk management framework and crisis management preparedness."

Along with Mr Tharman, four members of the MAS board have also been reappointed from June 1, 2018 to May 31, 2021. They include Finance Minister Heng Swee Keat; president of the council for estate agencies, Quek See Tiat; Enterprise Singapore chairman Peter Ong; and chief health scientist at the Ministry of Health, Tan Chorh Chuan.

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Mr Quek See Tiat will be reappointed chairman of the audit committee, while Mr Ong succeeds Mr Lim as chairman of the risk committee, effective June 1.

Separately, Singapore Tourism Board chairman and Netlink NBN Management chairman, Chaly Mah, joins the MAS board. NetLink NBN Management is trustee-manager of listed NetLink NBN Trust.

Prior to his retirement on May 31, 2016, Mr Mah served in Deloitte for over 38 years. He was formerly CEO of Deloitte South-east Asia, and chairman of Deloitte Singapore. Mr Mah's term of appointment will be from May 1, 2018 to May 31, 2020.

Lastly, chief defence scientist at Mindef, Quek Gim Pew will also be appointed to the risk committee as a non-board member from May 1, 2018 to May 31, 2021.

Said the MAS: "Mr Quek's specialist expertise and deep experience in technology and cyber risk management will help to enhance MAS' capabilities in these areas."