SINGAPORE – Transport Minister Chee Hong Tat has been appointed to the Monetary Authority of Singapore (MAS) board of directors for a three-year term starting on June 1, said the central bank in a statement on May 2.

Along with the appointment of Mr Chee – who is also Second Minister for Finance – five existing members have been reappointed to the MAS board for a three-year term.

They include Deputy Prime Minister and Coordinating Minister for Economic Policies Heng Swee Keat, and Mr Alvin Tan, who is Minister of State for Trade and Industry as well as Culture, Community and Youth.

Professor Tan Chorh Chuan, former president of the National University of Singapore, will step down from the board when his term ends on May 31.

Deputy Prime Minister and Finance Minister Lawrence Wong, who is MAS board chairman, said: “We deeply appreciate Prof Tan’s contributions to the MAS board over the past 12 years.

“He provided useful inputs that contributed to more robust decisions that enabled MAS to build stronger organisational capabilities in technology and risk management.”

The members of the MAS board from June 1 are:

Mr Lawrence Wong, Deputy Prime Minister and Minister for Finance

Mr Gan Kim Yong, Minister for Trade and Industry

Mr Heng Swee Keat, Deputy Prime Minister and Coordinating Minister for Economic Policies

Mr Chee Hong Tat, Minister for Transport and Second Minister for Finance

Mr Alvin Tan, Minister of State for Trade and Industry and for Culture, Community and Youth

Mr Peter Ong, former head of civil service

Mr Chaly Mah, chairman of NetLink NBN Management

Mr Lim Hng Kiang, special adviser, Ministry of Trade and Industry

Mr Lucien Wong, Attorney-General, Attorney-General’s Chambers

Mrs Deborah Ong, retired partner of PricewaterhouseCoopers

Mr Ng Wai King, managing partner, WongPartnership

Mr Chia Der Jiun, managing director of MAS