Daniel Teo is new honorary chairman of Sias

Mr Daniel Teo
Mr Daniel Teo

The Securities Investors Association of Singapore (Sias) has named property tycoon Daniel Teo as its honorary chairman with effect from Aug 1.

Mr Teo is a director of the Tong Eng Group as well as chairman and managing director of the Hong How Group, both family businesses.

The previous holder of the Sias post was former SGX chief executive officer Magnus Bocker, who died in July last year.

Sias' honorary chairman is independent and non-executive. He has the power to intervene if he takes the view that the Sias president or the committee has acted in breach of the association's Constitution, or is not acting in the interest of the association.

Sias president and chief executive David Gerald said in a statement: "Mr Daniel Teo accepted our call to be our chairman as he appreciates the work Sias is doing for the citizens, helping them with their financial well-being and with their difficulties on their investments."

Mr Teo was president of the Real Estate Development Association of Singapore for several terms, the last term being from 1998 to 2001.

He was also the world president of the International Real Estate Federation from 2000 to 2001.

Mr Teo is a director of the Tong Eng Group as well as chairman and managing director of the Hong How Group, both family businesses.

Mr Teo is also an active promoter of culture and the arts in Singapore, Sias said.

In 1981, he was the founder member of the Singapore Cultural Foundation, which has since merged into the National Arts Council.

A version of this article appeared in the print edition of The Straits Times on September 04, 2018, with the headline 'Daniel Teo is new honorary chairman of Sias'. Print Edition | Subscribe