MINISTER for Transport and Second Minister for Finance Chee Hong Tat has been appointed to the board of the Monetary Authority of Singapore (MAS) for a term of three years from Jun 1, 2024, to May 31, 2027.

On Thursday (May 2), MAS said it also reappointed five other existing members to its board.

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

Former head of civil service Peter Ong, retired PwC partner Deborah Ong and WongPartnership managing partner Ng Wai King were also reappointed.

Meanwhile, Professor Tan Chorh Chuan will step down from MAS’ board when his term ends on May 31.

The central bank noted that Prof Tan “contributed actively at board discussions as a key member of the board risk committee” since his appointment in June 2012.

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“His clear thinking and ability to bring a systems view to complex problems was a tremendous asset for the MAS board,” stated MAS board chair Lawrence Wong, who is also deputy prime minister and minister for finance.

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