Former CapitaLand CEO Lim Ming Yan elected Singapore Business Federation's new chairman

Mr Lim Ming Yan (pictured) will succeed Mr S.S. Teo, Pacific International Lines managing director. PHOTO: ST FILE

SINGAPORE - The Singapore Business Federation (SBF) elected Mr Lim Ming Yan, Workforce Singapore chairman and former CEO of CapitaLand, as its new chairman at its 18th annual general meeting on Tuesday (June 30).

Mr Lim Ming Yan will succeed Mr S.S. Teo, Pacific International Lines managing director, who stepped down as SBF chairman after serving the maximum three terms, totalling six years, SBF said in a statement.

Eleven elected members, 12 representatives of trade associations and chambers, and two co-opted members were appointed by the AGM to form the 25-member SBF Council for a two-year term from 2020 to 2022.

Deputy Prime Minister and Minister for Finance Heng Swee Keat, who addressed the AGM, noted SBF's critical role in the tripartite effort involving the Government, employers and the labour movement in helping Singapore to emerge stronger from the Covid-19 crisis.

"SBF also plays a critical role in helping our companies to adapt and transform, especially during this crisis," Mr Heng said.

The minister highlighted in his remarks SBF's key contribution to the RISE Fund, Business Resilience Advisory Programme and the Young Business Leaders Network and other schemes.

He also noted the exemplary leadership of Mr Teo at SBF's helm: "He is a captain of industry and also a captain of many ships. I have come to know him for his candour, his constructive spirit to issues, and his collaborative spirit. This is why he is so highly respected by all tripartite stakeholders."

SBF said in its statement that the newly elected chairman brings with him a wealth of knowledge and experience in not just the real estate industry - having led CapitaLand as its CEO - but global markets as well.

Mr Lim said: "SBF will continue to work closely with the Government, the unions and business leaders in strengthening this tripartite partnership to address hot-button issues like employment for our local workforce, internationalisation and diversification of businesses, as well as digital transformation for the fast-evolving future."

Mr Lim also sits on the boards of Singapore Press Holdings (which publishes The Straits Times), Central China Real Estate Limited, and DLF Cyber City Developers Limited.

Meanwhile, the Singapore Manufacturing Federation (SMF) said on Wednesday that its secretary-general, Dr Ahmad Magad, will be stepping down from his position with effect from Aug 1.

Mr Lawrence Pek Eng Leong will assume the position of secretary-general (designate) from July 1, 2020.

After joining Sony International Singapore in 1995, Mr Pek undertook management roles for Sony in Singapore, the Middle East, China, Hong Kong and India over close to 15 years. After leaving Sony, he set up Bolin Technologies for the design and manufacture of high end video conferencing and security cameras. With its factory in Shenzhen, China, the company serves markets in China, Europe and the US.

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