DBS chairman Peter Seah takes over NWC helm from Prof Lim Pin

Singapore

PETER Seah is taking over as chairman of the National Wages Council (NWC), succeeding Professor Lim Pin, who held the post from 2001 until last year. Mr Seah, chairman of DBS Group Holdings and DBS Bank, was deputy chairman of the 2014/2015 NWC. He also serves as the chairman of Singapore Health Services Pte Ltd and LaSalle College of the Arts Limited.

The Ministry of Manpower expressed its deep appreciation to Professor Lim Pin for his leadership of the NWC over the years, and for furthering the spirit of tripartite trust and cooperation among employers, unions and the government. The ministry noted on Monday that some of the key milestones under Prof Lim's watch included a shift away from seniority-based pay elements towards more flexible incentives and variable bonuses tied to actual business performance, which have helped protect businesses' viability and Singaporeans' jobs during difficult periods. Under Prof Lim's leadership, the NWC also introduced in 2012 guidelines calling for a minimum built-in wage increase for low-wage workers, so as to better recognise their contributions; this effort has contributed to strong wage growth among low-wage workers in recent years.