Chaly Mah joins MAS Board of Directors; DPM Tharman re-appointed as Chairman
Singapore, 20 April 2018... The Monetary Authority of Singapore (MAS) announced the new appointment of Mr Chaly Mah and the re-appointment of five existing members to the MAS Board of Directors. In addition, Mr Quek Gim Pew has been appointed as a non-Board member of MAS’ Board Risk Committee.
2 Mr Chaly Mah, Chairman of NetLink NBN Management Pte Ltd, will be appointed as a member of the MAS Board. He was formerly Chief Executive Officer of Deloitte Asia Pacific and Deloitte Southeast Asia and Chairman of Deloitte Singapore. Mr Mah’s term of appointment will be from 1 May 2018 to 31 May 2020.
3 Deputy Prime Minister and Coordinating Minister for Economic and Social Policies, Mr Tharman Shanmugaratnam, will be re-appointed as Chairman of the MAS Board. The following four members of the MAS Board will also be re-appointed:
(i) Mr Heng Swee Keat, Minister for Finance;
(ii) Mr Quek See Tiat, President of the Council for Estate Agencies;
(iii) Mr Peter Ong, Chairman of Enterprise Singapore; and
(iv) Professor Tan Chorh Chuan, Chief Health Scientist of the Ministry of Health.
These re-appointments will be from 1 June 2018 to 31 May 2021.
4 Mr Quek will be re-appointed as Chairman of the Audit Committee1. Mr Ong will be appointed as Chairman of the Risk Committee2 with effect from 1 June 2018, taking over from Mr Lim Chee Onn.
5 Mr Lim Chee Onn, Senior International Advisor at Ascendas-Singbridge Pte Ltd, will be stepping down from the MAS Board and as Chairman of the Risk Committee on 31 May 2018. Mr Tharman Shanmugaratnam, Chairman of the MAS Board, said, “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. We thank Mr Lim for his invaluable contributions.”
6 Mr Quek Gim Pew, Chief Defence Scientist at MINDEF, will be appointed to the Risk Committee, from 1 May 2018 to 31 May 2021, as a non-Board member. Mr Quek’s specialist expertise and deep experience in technology and cyber risk management will help to enhance MAS’ capabilities in these areas.
7 The members of the MAS Board of Directors are listed in the Annex.
Board of Directors of the Monetary Authority of Singapore
(with effect from 1 June 2018)
Mr Tharman Shanmugaratnam (Chairman)
Deputy Prime Minister and Coordinating Minister for Economic and Social Policies
Mr Lim Hng Kiang (Deputy Chairman)
Minister for Trade and Industry (Trade)
Mr Heng Swee Keat
Minister for Finance
Mr Ong Ye Kung
Minister for Education (Higher Education and Skills) and Second Minister for Defence
Mr Quek See Tiat
President, Council for Estate Agencies
Mr Peter Ong Boon Kwee
Chairman, Enterprise Singapore
Professor Tan Chorh Chuan
Chief Health Scientist, Ministry of Health and Executive Director, MOH Office for Healthcare Transformation
Mr V K Rajah
Senior Counsel and Member of Essex Court Chambers Duxton (Singapore Group Practice)
Mr Chaly Mah
Chairman, NetLink NBN Management Pte Ltd
Mr Ravi Menon
Managing Director, MAS
1 The Audit Committee provides an independent assessment of MAS' internal controls and financial reporting process. 2 The Risk Committee provides oversight and guidance on the management of risks faced by MAS.