Changes to MAS Board of Directors

Singapore, 30 October 2006...MAS announced that Mr Teo Ming Kian has been appointed to its Board of Directors, with effect from 1 October 2006, while Mr Lim Siong Guan has stepped down from 30 September 2006.

2   Mr Teo is the Permanent Secretary for both the Ministry for Finance and National Research and Development in the Prime Minister's Office.  He is a Board Member of the National Research Foundation (NRF), and Chairman of both the Inland Revenue Authority of Singapore (IRAS) and Accounting and Corporate Regulatory Authority (ACRA).  Mr Teo also holds directorships in MND Holding Pte Ltd and Temasek Holdings.  His CV is attached at Annex 1 (PDF, 8.37KB) .

3   Mr Lim, who is Chairman of the Economic Development Board, served on MAS' Board for two periods, from 1 April 1987 to 1 September 1994, and from 18 January 1999 to 30 September 2006.  He was formerly Permanent Secretary (Finance) from June 1999 to September 2006.

4   The list of the MAS Board of Directors is at Annex 2 (PDF, 4.78KB).