Teo Ser Luck plans to create, invest in start-ups and businesses after retirement from office

Minister Teo Ser Luck at Cali cafe and bar on April 13, 2017.
Minister Teo Ser Luck at Cali cafe and bar on April 13, 2017. ST PHOTO: LIM YAOHUI

SINGAPORE - Minister of State for Manpower Teo Ser Luck plans to go into the start-up field as he returns to the private sector after stepping down from public office on June 30.

He is also stepping down as Mayor for North East District after his term ends on May 26, and wants to spend time with his family and continue his journey in the private sector, Mr Teo said in a Facebook post on Thursday (April 27).

"I plan to build, create, invest or help start-ups and businesses. Some are tech related while others will be in products or services which I'm passionate about.

"Business aside, I'm glad to continue to serve you as an MP," said Mr Teo, a Pasir Ris-Punggol GRC MP since 2006. He worked in the logistics industry before being appointed Parliamentary Secretary for the then-Ministry of Community Development, Youth and Sports in 2006.

In his post, he thanked residents, friends and colleauges for their good wishes and support.

 

"Grateful to have had this chance to serve full time as an office holder for more than 10 years after spending 15 years in the private sector. The support and guidance I received from many of you have made it a very fulfilling journey!" he said.

Mr Teo published his post shortly after the Prime Minister's Office issued a statement on Thursday announcing changes to Cabinet and other appointments.

In the statement, Prime Minister Lee Hsien Loong thanked Mr Teo for his "valuable services to the Government", highlighting his active role in promoting small and medium enterprises (SMEs) during his time at the ministries of manpower and trade and industry.

Mr Teo was Minister of State for Trade and Industry from 2011 to 2015, and took on his Manpower Ministry portfolio in 2015.

He helped developed SME capabilities and set up SME Centres,and led the Lean Enterprise Development efforts to help businesses improve productivity, the statement said.

At the then-Ministry of Community Development, Youth and Sports, where he was Parliamentary Secretary from 2006 to 2008 and Senior Parliamentary Secretary from 2008 to 2011, he promoted youth participation in community engagement, corporate social responsibility and sports.

For example, he launched the Singapore National Games and made a major contribution to the 2010 Youth Olympic Games. As Senior Parliamentary Secretary for Transport from 2008 to 2011, he also initiated the cycling plan, and installed lifts for overhead-bridges and wheelchair access for public buses.

"As Mayor, he worked with the other Mayors on many innovative and meaningful flagship programmes across the five CDCs (Community Development Councils), including the distribution of milk powder to needy families and the Community Employment Programme," the statement said.

Tampines GRC MP Desmond Choo will take over from him as North East Distrct Mayor when Mr Teo's term ends on May 26.

In a Facebook post, Mr Choo said he looks forward to working with fellow grassroot advisers in the distrct to develop initiatives to serve residents better.

He added that he has benefited much from Mr Teo's work in the CDC while serving Changkat residents.

"His initiatives such as the Community Employment Program have helped many residents. He has also been a wonderful guide in my years of grassroots work. Do hope to continue to build on the firm foundation that he has built up over the years," he said.