SINGAPORE - The Monetary Authority of Singapore (MAS) announced on Monday (Aug 29) that Mr Ong Ye Kung, Acting Minister for Education (Higher Education and Skills) and Senior Minister of State, Ministry of Defence, will be appointed to its board of directors with immediate effect. At the same time, Mr Lawrence Wong, Minister for National Development, will step down from the MAS board.
Mr Ong's term of appointment will run till May 31, 2019. Prior to his Cabinet appointments, he held the position of director of group strategy at Keppel Corporation, overseeing long term strategic planning of the Group's activities. Before joining Keppel Corporation, he was the deputy secretary-general of National Trades Union Congress, overseeing the labour movement's employment and employability programmes.
Mr Wong was last week appointed the Second Minister for Finance, concurrently with his present post heading the National Development Ministry. He will help with the operational responsibilities at the Finance Ministry with Mr Heng Swee Keat resuming his duties as Finance Minister on Aug 22, more than three months after he suffered a stroke.
Mr Wong was appointed to the MAS board on June 10, 2011.