SINGAPORE - Mr Seah Moon Ming, currently Deputy Chairman of International Enterprise (IE) Singapore, will be appointed as Chairman with effect from January 1 next year. He will be taking over from Mr Sunny Verghese, who will step down on December 31.
In addition, two new members will be appointed to the board of IE Singapore, and four existing board members will be re-appointed. These appointments will also take effect from January 1.
Mr Verghese, Group Managing Director and Chief Executive Officer of Olam International Limited, was appointed Chairman of IE Singapore on April 22, 2008. Under his leadership, IE Singapore developed initiatives such as the Market Readiness Assistance, a scheme designed for companies new to internationalisation; and the Global Company Partnership, a customised assistance programme for those with existing overseas presence looking to deepen their overseas engagement.
During his tenure, IE Singapore also opened five new Overseas Centres in Accra, Ghana; Istanbul, Turkey; Johannesburg, South Africa; Yangon, Myanmar; and Wuhan, Central China. Partnerships with international organisations were also developed to support Singapore companies' entry into emerging markets, including with the World Bank and Asian Development Bank.
The Ministry of Trade and Industry (MTI) said it extends its appreciation to Mr Verghese for his many contributions and guidance.
Mr Seah Moon Ming, Group Chief Executive Officer of Pavilion Energy Pte Ltd, has been a member of the IE Singapore board since January 1, 2008. He has been serving in the post of Deputy Chairman for the last two years. He is also the Vice Chairman of China Business Group under the Singapore Business Federation.
MTI said that Mr Seah's extensive background and knowledge will be useful in guiding IE Singapore towards achieving its goals as well as charting new directions.
"His insights in the LNG sector are invaluable to the Board's deliberations on achieving IE Singapore's strategic goals for international trading. With his deep market knowledge of China, Mr Seah provides invaluable insights, guidance and personal contacts to IE Singapore, helping Singapore deepen its business engagement with China," MTI said in a media release.
"In addition, Mr Seah's vast connections in the electronics and ICT sectors and exposure to markets like the US, Europe and China will continue to benefit IE Singapore as it looks to develop the Latin American and Middle Eastern markets for companies, particularly in infocomm technology-related sectors."
Said Mr Teo Eng Cheong, CEO of IE Singapore: "On behalf of IE Singapore, I express my heartfelt appreciation to Sunny for his invaluable contributions and dedication to the agency over these years and wish him all the best in his future endeavours. We warmly welcome Moon Ming as the new Chairman and look forward to working closely with him."
The following people have also been appointed/reappointed to the board of IE Singapore:
BG Lim Tuang Liang, Commander, HQ Air Combat Command, Republic of Singapore Air Force, Ministry of Defence
Mr Tan Chong Meng, Group Chief Executive Officer, PSA International Pte Ltd
Re-appointment of Members
Mr Teo Eng Cheong, Chief Executive Officer, IE Singapore
Mr Chew Hock Yong, Chief Executive Officer, Land Transport Authority
Dr Robert Yap, Chairman and Chief Executive Officer, YCH Group
Mr Eugene Wong, Founder and Managing Director, Sirius Venture Capital Pte Ltd
MTI thanked its outgoing members, Mr Soo Kok Leng, Chairman of Singapore Technologies Electronics Limited and BG Perry Lim Cheng Yeow, Chief of Staff - General Staff, Ministry of Defence, for their contributions.