SINGAPORE - Two senior businesses executives - a Swiss national and an American - have been given national honours for their significant contributions to Singapore.
In a ceremony at the Istana on Friday (April 1), President Halimah Yacob presented the Honorary Citizen Award to PSA International group chairman Peter Voser, who is also chairman of Swiss engineering giant ABB.
Initiated in 2003, it is the highest form of national recognition for non-Singaporeans.
Madam Halimah also presented the Public Service Star (Distinguished Friends of Singapore) award to Mr Ajay Banga, currently the vice-chairman at American growth equity firm General Atlantic. He was formerly the chief executive at Mastercard for 12 years.
Economic Development Board (EDB) chairman Beh Swan Gin said on Friday both men had contributed significantly to the growth of Singapore's economy.
"Under their leadership, their respective companies initiated long-term investments that led to new industrial capabilities and capacities, which strengthened Singapore's competitiveness," he said.
Mr Voser's former roles include chief financial officer at energy giant Shell from 2004 to 2009 and chief executive from 2019 to 2013.
As the former Shell chief, he oversaw the company's decision to invest more than $4 billion in the Shell Eastern Petrochemicals Complex in Singapore, said EDB in a statement.
As ABB chairman, Mr Voser also supported the expansion of the company's activities here. ABB currently employs about 900 people in Singapore.
At PSA, Mr Voser saw the firm achieve a record-high container throughput volume in 2021. And during the Covid-19 pandemic, PSA played a critical role in enabling the movement of essential supplies into Singapore and keeping global supply chains open.
Mr Voser also personally helped to secure the supply of medical diagnostics units for hospitals here during the early days of the pandemic, said EDB.
He has also been a board director at Singapore's investment company Temasek since 2015, and a member of EDB's International Advisory Council from 2013 to 2019.
Mr Voser said: "I am very proud and humbled to receive the Honorary Citizen Award from Singapore, a country close to my heart. It has played a very important role during my life and my career."
Mr Banga also said he was honoured to receive his award.
He said: "Singapore has played a unique and critical role in the world for many years. It is a centre of human progress, dedicated to peace and prosperity for its citizens and neighbours as they work to achieve a more inclusive future.
"This starts at the highest levels of leadership, rooted in a forward-thinking, collaborative and pro-business approach that will deliver dividends for years to come. I have been privileged over the last decade at Mastercard to have a large and talented team in Singapore."
Mr Banga headed Mastercard from 2010 to 2020 and was the executive chairman of its board of directors in 2021.
He was instrumental in the expansion of Mastercard's activities in Singapore, as the firm's presence in Singapore grew from 75 employees in 2010, to more than 600 in 2021, said EDB.
He was also key in Mastercard's decision to build up capabilities in Singapore to undertake product innovation, which enabled next-generation payment solutions to be developed and launched out of Singapore, added EDB.
Mr Banga is also a former member of EDB's International Advisory Council.
