SENIOR Minister Goh Chok Tong has been reappointed as chairman of the Monetary Authority of Singapore (MAS) for two more years.

Among the different board committees, Mr Goh chairs the chairman meeting, which approves major changes to the central bank's supervisory policies and regulatory framework.

He also chairs the monetary and investment policy meeting, which oversees the investment of MAS reserves.

The nine-member MAS board includes Trade and Industry Minister Lim Hng Kiang, Keppel Corp executive chairman Lim Chee Onn, Central Provident Fund (CPF) Board chairman Koh Yong Gua and Finance Minister Tharman Shanmugaratnam.

Also sitting on the board as members are Finance Ministry Permanent Secretary Teo Ming Kian, Allen & Gledhill managing partner Lucien Wong and Attorney-General Walter Woon, who was appointed on May 20.

Former attorney-general Chao Hick Tin stepped down on April 1 after his reappointment as a Judge of Appeal at the Supreme Court.

Mr Goh said in the MAS annual report released three weeks ago that Asia's economic prospects would continue to be relatively sanguine in the near term, while Singapore would benefit from the region's growth, particularly in China and India.

He added that the ongoing volatility in global financial markets and the threat of higher inflation meant Singapore should remain vigilant.

'The MAS will continue to facilitate the development of Singapore as an international financial centre with high standards of regulation and supervision,' he said.

Meanwhile, Spring Singapore confirmed on Tuesday the appointment of MrPng Cheong Boon as its chief executive.

The 38-year-old will assume his new post with effect from Sept 1.