Acting Minister for Education (Higher Education and Skills) and Senior Mnister of State, Ministry of Defence Mr Ong Ye Kung will be appointed to the Monetary Authority of Singapore’s (MAS’s) board of directors with immediate effect, a statement said on Monday (Aug 29).
His term will of appointment will run until May 31, 2019.
The MAS statement added that Minister for National Development Mr Lawrence Wong will step fown from the board.
Prior to his Cabinet appointments, Mr Ong 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 the National Trades Union Congress, overseeing the labour movement’s employment and employability programmes.
Mr Wong was appointed to the MAS Board on June 10, 2011 and has served as an active member of the MAS Board for more than five years. Last week, Prime Minister Lee Hsien Loong announced that Mr Wong was appointed the Second Minister for Finance to help with the operational responsibilities at the Finance Ministry with Mr Heng Swee Keat, who resumed his duties as Finance Minister on Aug 22.
Mr Heng was discharged from hospital on June 25 after undergoing surgery after collapsing from a stroke during a Cabinet meeting on May 12. The stroke was found to have been caused by an aneurysm, which was successfully closed.
The MAS board of directors (as of Aug 29, 2016) are as follows:
Mr Tharman Shanmugaratnam (Chairman), Deputy Prime Minister and Coordinating Minister for Economic and Social Policies
Mr Lim Hng Kiang (Deputy Chairman), Minister for Trade and Industry (Trade)
Mr Heng Swee Keat, Minister for Finance
Mr Ong Ye Kung, Acting Minister for Education (Higher Education and Skills) and Senior Minister of State, Ministry of Defence
Mr Quek See Tiat, Deputy President, Council for Estate Agencies
Mr Lim Chee Onn, Senior International Advisor, Ascendas-Singbridge Group
Mr Peter Ong Boon Kwee, Head, Civil Service and Permanent Secretary (Prime Minister’s Office) (Strategy)
Professor Tan Chorh Chuan, President, National University of Singapore
Mr V K Rajah, Attorney-General, Attorney-General’s Chambers
Mr Ravi Menon, Managing Director, MAS
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