Transport Minister and Second Minister for Finance Chee Hong Tat has been appointed to the Board of Directors of the Monetary Authority of Singapore (MAS).

MAS said in a May 2 statement that Chee will serve a three-year term from Jun. 1, 2024 to May 31, 2027.

MAS also re-appointed five existing board members:

• Deputy Prime Minister (DPM) and Coordinating Minister for Economic Policies Heng Swee Keat
• Minister of State in the Ministry of Trade and Industry and Ministry of Culture, Community and Youth, Alvin Tan
• Peter Ong
• Deborah Ong
• Ng Wai King

Their new terms will be similar to Chee's.

Another board member, Tan Chorh Chuan, is set to step down from his position on the MAS board on May 31, 2024.

He served on the board since his appointment in June 2012, more than a decade ago.

DPM Lawrence Wong, chairman of the MAS board, said of Tan:

“His clear thinking and ability to bring a systems view to complex problems was a tremendous asset for the MAS Board.

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

According to MAS' website, the MAS board of directors oversees the "policy and general administration of the affairs and business of MAS".

Additionally, the board informs the government of the "regulatory, supervisory and monetary policies of the MAS".

The other members of the board are Chaly Mah, Chia Der Jiun, Lim Hng Kiang, Attorney-General Lucien Wong, and Minister for Trade and Industry Gan Kim Yong, who serves as deputy chairman.

Top photo via Chee Hong Tat on Facebook