Transport Minister Chee Hong Tat has been appointed to the board of directors of the Monetary Authority of Singapore (MAS) for a three-year term starting June 1, as announced by the central bank on May 2. Alongside Chee’s appointment, five existing members have been reappointed to the MAS board for the same duration. Among the reappointed members are Deputy Prime Minister and Coordinating Minister for Economic Policies Heng Swee Keat and Alvin Tan, who serves as Minister of State for Trade and Industry as well as Culture, Community, and Youth. However, Professor Tan Chorh Chuan, the former president of the National University of Singapore, will step down from the board when his term concludes on May 31. Deputy Prime Minister and Finance Minister Lawrence Wong, who also serves as the MAS board chairman, expressed appreciation for Professor Tan’s contributions during his 12-year tenure on the board. Wong acknowledged Tan’s valuable insights that have facilitated robust decision-making and the enhancement of MAS’s organizational capabilities, particularly in technology and risk management.

The composition of the MAS board effective June 1 includes prominent figures such as Lawrence Wong, Gan Kim Yong (Minister for Trade and Industry), and Peter Ong (former head of civil service). Other members appointed to the board include Lucien Wong (Attorney-General, Attorney-General’s Chambers), Deborah Ong (retired partner of PricewaterhouseCoopers), and Ng Wai King (managing partner, WongPartnership), among others. Chia Der Jiun, the managing director of MAS, also retains his position on the board.