SMRT to get new group chief financial officer on Oct 1
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Mr Phua Yung Keat will replace Ms Cindy Lau as SMRT's group chief financial officer from Oct 1.
PHOTOS: SMRT
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SINGAPORE – On Oct 1, Mr Phua Yung Keat will replace Ms Cindy Lau as group chief financial officer (CFO) of SMRT.
In a statement on Wednesday, the transport operator said Ms Lau, who has been the group CFO since 2017, has resigned from the company to pursue “her personal interests”.
As group CFO, Mr Phua will be responsible for SMRT’s finance, tax and treasury functions.
Mr Phua, 45, was head of finance at technology and engineering firm ST Engineering’s land systems division between November 2018 and June 2023.
He joined SMRT in June as its head of strategic finance and vice-president for finance.
He also took on the role of group treasury head, said SMRT spokeswoman Margaret Teo in response to questions from The Straits Times.
Ms Teo said Mr Phua “provided finance business partnering support to the commercial businesses, including the RTS Operations project”. RTS Operations is the operator of an upcoming 4km rail link between Singapore and Johor Bahru.
Mr Phua was brought in as part of succession planning as well as to strengthen SMRT’s leadership bench for business growth, said Ms Teo.
He has 20 years of experience in finance, strategic investments and business development in the mobility and urban development sectors, including large-scale integrated projects in China and India.
According to Mr Phua’s profile on professional network LinkedIn, he also held leadership roles at urban development firm Ascendas-Singbridge.
SMRT said Ms Lau would be redesignated as Mr Phua’s adviser between Oct 1 and Nov 16.
Before being named group CFO, Ms Lau, 52, was the company’s vice-president for group finance and shared services. She covered the group CFO’s responsibilities
Ms Teo said: “SMRT would like to express our deep appreciation to Cindy for her service and contributions to the company over the past 11 years.”
At the same time, Ms Lau thanked the firm’s finance team for their support, and added that she was confident the team would provide the same support to Mr Phua for a smooth transition.
