SBF Chairman Change: Lee Kian Hoong on Enterprise Resilience and Innovation
Mr Lee Kian Hoong, CEO of Sing Lun Holdings, was elected as the new Chairman of the Singapore Business Federation (SBF), succeeding Mr Teo Siong Seng, who had earlier announced he would step down temporarily and not seek re-election.
The SBF held its 24th Annual General Meeting on Wednesday (24 June) and elected the 13th Council, which will serve a two-year term until 2028.
In a statement, the SBF said the new council comprises 24 members, including 12 elected council members, 11 representatives from trade associations and chambers, and one co-opted council member.
Among the six new council members are Mr Adam Click, Chairman of AmCham Singapore; Mr Moses Mok, President of the Restaurant Association of Singapore; Mr Lee Teck Ming, Chairman of SGTech; and Mr Suhaimi Zainul-Abidin, CEO of hedge fund Quantedge Capital.
5th Future Ready Business Dialogue: Systems-Level Preparedness
During the AGM, the SBF also held the fifth Future Ready Business Dialogue, with Guest of Honour Mr Chan Chun Sing, Minister-in-charge of the Public Service and Minister for Defence.
With the theme "Systems-Level Preparedness: What Must Government and Business Change?", the dialogue brought together many business leaders and policymakers to discuss how companies can enhance resilience, build future-ready capabilities, and navigate increasing uncertainty.
Lee Kian Hoong: Ensuring Enterprises Remain Competitive and Resilient for the Future
New Chairman Lee Kian Hoong, also a Nominated Member of Parliament, said in the statement that geopolitical tensions, the rapid development of artificial intelligence (AI), and changes in trade patterns are reshaping the global economy, bringing both challenges and opportunities to businesses.
Mr Lee said: "My priority is to ensure our enterprises remain competitive, resilient, and future-ready. We will work closely with businesses, government, and industry partners to develop practical solutions, foster a conducive business environment, and help companies build the capabilities needed for innovation, internationalisation, and steady growth."
He also noted that Singapore will assume the ASEAN chairmanship next year, presenting a good opportunity to deepen regional economic integration and strengthen ASEAN as a key engine of global growth. "SBF will work with regional partners to turn these opportunities into concrete business outcomes and promote a more interconnected, innovative, and sustainable ASEAN," he added.
Mr Lee previously served as Deputy Chairman and Treasurer of SBF. He also acted as Chairman during Mr Teo Siong Seng's temporary leave.
Teo Siong Seng Not Seeking Re-election: Stepping Down from Various Roles After Term
Mr Teo Siong Seng, aged 71, said in a statement in May that he would not seek re-election when his term as SBF Chairman ended on 24 June. He had earlier temporarily stepped down from his roles as SBF Chairman, Executive Chairman and Director of Pacific International Lines, among others, to deal with charges brought against him by the US Department of Justice.
Earlier, Lianhe Zaobao reported that US authorities had accused him of involvement in manipulating dry container prices.
