It is believed she is the first woman to chair a business chamber here.

Calling Ms Chua an 'invaluable asset', SICC president Phillip Overmyer said: 'We hope to leverage on Ms Chua's strong ties and vast array of contacts within various local and international agencies, and enable the SICC to establish new relationships, spearhead new initiatives and thereby further the business interests of our members.'

As president, chief executive and executive director of The Ascott Group, which operates an international chain of serviced apartments, Ms Chua is no stranger to the Singapore business scene.

She has held various senior positions in several companies and has received numerous accolades, a sign of her success in the local and international business community.

SICC - the oldest commercial organisation here with a membership of some 800 firms - celebrated its 172nd anniversary on Monday. Over 40 nationalities are represented in the chamber membership, with Singaporean firms forming the largest single national group.

One of SICC's core functions is to provide the government with feedback from members on policies, laws and regulations that enhance the members' business locally and internationally.

Prior to her current position at The Ascott, Ms Chua was chief executive and president of Raffles Holdings, where she oversaw an empire with more than 9,000 employees and scores of premium hotels spanning 30 countries.

Ms Chua is also a board member of several leading organisations including Sentosa Cove, Raffles Hotel, Community Chest of Singapore, National Healthcare Group, Temasek Advisory Panel in Temasek Holdings and Singapore Workforce Development Agency.

She is also Singapore's Non-Resident Ambassador to The Slovak Republic.