SINGAPORE - A committee formed to develop economic strategies for Singapore's future will be made up of 30 members, including government officials and leaders of companies large and small.
Called the Committee on the Future Economy, the group aims to complete its work by the end of 2016.
The committee is chaired by Finance Minister Heng Swee Keat, with Minister for Trade and Industry (Industry) S Iswaran as deputy chairman. Acting Minister for Education (Higher Education and Skills) Ong Ye Kung; Minister for National Development Lawrence Wong; and Secretary-General of the National Trades Union Congress Chan Chun Sing are also on the committee.
However, the majority of the committee - 25 out of 30 members - comprises leaders of multinational companies such as Shell and the Boston Consulting Group, as well as local enterprises such as the Timbre Group, ST Engineering, and Sing Lun Holdings.
Prime Minister Lee Hsien Loong said in October that the task of preparing Singapore for the future is an urgent one. Singapore will have to grapple with challenges such as a leaner workforce, tapering growth, and a weaker global economy, he noted.
The practice of setting up such a unit is not new.
In 2001, then-PM Goh Chok Tong created the Economic Review Committee - chaired by Mr Lee who was Deputy PM at that time - to review policies and propose appropriate strategies to promote further growth in the Singapore economy.
About eight years later in 2009, PM Lee himself commissioned the Economic Strategies Committee - led by then-Finance Minister Tharman Shanmugaratnam - to brainstorm new and creative ways to ensure the economy's long-term growth.
Here's a look at the 25 members who come from the private sector:
1. Azmoon Ahmad, 53
Senior Vice President and Member of Executive Management, Desay SV Automotive
Senior Vice-President, Executive Management; Head, International Business Development and General Manager, Business Unit Radio Navigation Global OEMs in Desay SV Automotive, China.
2. Christian Bischoff, 56
Founder and Executive Chairman, Pan Asia Logistic
Executive Chairman of Pan Asia Logistics Holdings Singapore Pte Ltd, involved mainly in Strategy and Management of the entire Group. Has four decades of experience in Freight Forwarding and Logistics in Asia, Germany and Middle East, in Asia since 1982.
3. Jean-Luc Butel, 59
President, K8 Global, and Senior Advisor, McKinsey & Company
Currently serves as a Global Healthcare Advisor to several public and private institutions; Senior Advisor to McKinsey & Company’s to healthcare practice. Has done extensive work in the past ten years in the area of business model innovation in healthcare.
4. Bill Chang, 49
Country Chief Officer, Singapore and CEO, Group Enterprise, Singtel Ltd
As the Chief Executive Officer of Group Enterprise in Singtel, leads the group to provide innovative and comprehensive Information and Communications Technology solutions to the enterprise customers globally.
5. Cham Hui Fong, 47
Assistant Secretary-General and Director, Industrial Relations, National Trades Union Congress
Contributed in many tripartite committees addressing issues such as wage restructuring and the employment and re-employment of mature workers. Serves on the Board of the Central Provident Fund (CPF) and as the Authority Member of the Civil Aviation Authority of Singapore (CAAS).
6. Edward Chia, 31
Co-Founder and Managing Director, Timbre Group
Co-founded Timbre at age 21 to develop the Singapore music scene through talent cultivation, and growing sustainable audiences for local musicians. Serves on the Executive Committee of the Restaurant Association of Singapore.
7. Chia Yong Yong, 53
Partner, Yusarn Audrey
Corporate lawyer, serves as a President of the Board of Management for SPD (formerly known as Society for the Physically Disabled), as a board member of SG Enable, Company Secretary of Very Special Arts Ltd.
8. Susan Chong, 46
Founder and CEO, Greenpac
Specialises in innovative and environmentally-friendly packaging products and solutions, serving Fortune 500 companies. Grew from a one-woman start-up in 2002 to a market leader in Asia.
9. Vincent Chong, 46
President and CEO (Designate), ST Engineering Ltd
Oversees ST Engineering’s four business sectors and corporate functions. Previously 20 years of experience in ExxonMobil, holding a wide span of positions from refinery process engineering, product marketing, industrial and retail operations to strategic planning through global postings in Singapore, Japan, Hong Kong, the UK and the USA.
10. Rachel Eng, 44
Joint Managing Partner, WongPartnership
Corporate lawyer, involved in listings, corporate advisory, corporate governance and compliance and financial services regulatory work.
11. Goh Swee Chen, 55
Chairman, Shell Companies in Singapore
Appointed first female country chair of Shell Singapore in October 2014, responsible for country level strategic, forward-looking and reputation activities and their management. Oversees country-level Ethics & Compliance and the development of talent; Singapore is a hub for major Shell business operations, with approximately 3,100 employees; concurrently Vice President of Lubricants, Asia Pacific region since 2011.
12. Han Kwee Juan, 48
CEO, Citibank Singapore Ltd
Responsible for Citibank’s Consumer Banking business in Singapore covering retail banking, wealth management, mortgages, auto loans, credit cards, unsecured lending and digital banking.
13. Mariam Jaafar, 38
Partner and Managing Director (Singapore), The Boston Consulting Group
Core member of BCG's Financial Services, TMT and Public Sector practice areas. Recent work has focused on helping companies and countries navigate the opportunities and challenges arising from digital transformation and data.
14. Mark Lee, 42
CEO, Sing Lun Holdings Limited
Over 17 years of experience in the apparel industry, and transformed Sing Lun from an OEM apparel manufacturer into a full-service provider of apparels, incorporating design and developmental services, manufacturing and supply chain management of a full range of apparel products.
15. Forrest Li, 38
Founder, Chairman and Group CEO, Garena
Founded Garena in 2009 and has been its Chairman and CEO, growing it into the largest internet and mobile platform company in Southeast Asia, with presence in more than 10 countries.
16. Lim Chow Kiat, 45
Group Chief Investment Officer, GIC
Leads GIC’s investment strategy, including asset allocation, active capital allocation and large investments.
17. Lim Der Shing, 40
Venture Partner, Jungle Ventures, and Co-Founder and former CEO, JobsCentral Group
Active Angel Investor in 13 ASEAN tech start-ups and various tech VCs. Co-founder and former CEO of JobsCentral Group, a regional job portal. Serves as a District Councillor with Southwest Community Development Council; Board of Directors of the Action Community of Entrepreneurs (ACE); and SPRING’s Sub-Committee on Innovation and Enterprise (SCIE) Industry Expert Panel.
18. Harish Manwani, 63
Global Executive Advisor, Blackstone, Private Equity, and Former COO, Unilever
Retired at the end of 2014 from Unilever as Chief Operating Officer, responsible for managing profit and loss across all markets. Joined Unilever in 1976 and has held various general management positions in different parts of the world.
19. Dilhan Pillay Sandrasegara, 52
Head, Enterprise Development Group, Temasek Holdings
Concurrently serves as Head, Singapore and Co-head of Americas of Temasek International. Previously Managing Partner of WongPartnership, with over 20 years of experience in the legal industry.
20. Saktiandi Supaat, 42
Executive Vice President, Head of FX Research, Global Markets, Global Banking, Maybank Group
Leading a team of strategists and analysts covering G7 and regional (ASEAN, China, Korea, Vietnam, India, Australia and New Zealand) currencies/economies; also a member of the Maybank Singapore Regional Wealth Management tactical asset allocation committee.
21. Tan Chong Meng, 55
Group CEO, PSA International
Responsible for the overall performance of PSA International, a global port group, operating 40 container terminals in 16 countries across Asia, Europe and the Americas.
22. Teo Siong Seng, 61
Chairman, Singapore Business Federation
Managing Director of Pacific International Lines, one of the largest ship-owners and operators in Southeast Asia, and Chairman and CEO of PIL’s listed subsidiary, Singamas Container Holdings Ltd, Hongkong; holds executive directorships of several PIL subsidiaries and joint venture companies whose activities include ship-owning, liner shipping, ship agencies, shipping fund, freight forwarding, container manufacturing, ship recycling, oil & gas, container depot/terminal operation, warehousing, logistics centre, real estate and travel.
23. Russell Tham, 47
Regional President (Southeast Asia) and Corporate Vice President, Applied Materials, Inc.
Heads regional business and leads Applied Materials’ infrastructure and strategy in Southeast Asia; concurrently has global Corporate Business Development responsibilities for new growth markets.
24. Fabian Wong, 55
CEO, Philips ASEAN and Pacific
Responsible for the overall strategy, business and management of Philips in 14 countries across the region.
25. Robert Yap, 63
President, Singapore National Employers Federation
Leads employers in the tripartite partnership to enhance labour market flexibility and responsible employment practices. Executive Chairman of YCH Group, with more than four decades of experience in the logistics and supply chain management field.