Appointment of New Chairman to MAS Board of Directors

Singapore, 23 May 2011... The Monetary Authority of Singapore (MAS) announced that Deputy Prime Minister, Minister for Finance and Minister for Manpower Tharman Shanmugaratnam has been officially appointed as Chairman of MAS with effect from 21 May 2011, for a period of two years. Mr Shanmugaratnam is MAS’ sixth chairman since the establishment of MAS in 1971. He replaces Emeritus Senior Minister Goh Chok Tong who had served as Chairman of MAS since August 2004.

2. Mr Goh stepped down from MAS Board of Directors but has been appointed as Senior Advisor to MAS, with effect from 21 May 2011. He will lend his experience in this advisory position.

3. The members of the MAS Board of Directors are listed in the Annex.

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Annex

Board of Directors of the Monetary Authority of Singapore
(with effect from 21 May 2011)

Mr Tharman Shanmugaratnam (Chairman)
Deputy Prime Minister;
Minister for Finance;
Minister for Manpower

Mr Lim Hng Kiang (Deputy Chairman)
Minister for Trade and Industry

Mr Heng Swee Keat
Minister for Education

Mr Sundaresh Menon
Attorney-General

Mr Lim Chee Onn
Senior Advisor, Keppel Corporation Limited;
Chairman, Singbridge International Singapore Limited

Mr Teo Ming Kian
Permanent Secretary (National Research and Development), Prime Minister’s Office; Advisor (Special Projects), Ministry of Finance

Mr Peter Ong Boon Kwee
Permanent Secretary, Ministry of Finance

Mr Ravi Menon
Managing Director, MAS

Mr Lucien Wong Yuen Kuai
Managing Partner, Allen & Gledhill