Lee Kian Hing, CEO of Sing Lun Holdings, Elected New Chairman of SBF
Lee Kian Hing, CEO of Sing Lun Holdings, has been elected as the new chairman of the Singapore Business Federation (SBF), succeeding former chairman Teo Siong Seng, who earlier announced he would step aside temporarily and not seek re-election.
The SBF held its 24th Annual General Meeting on Wednesday (June 24) and elected the 13th Council, with a term of two years ending in 2028.
In a statement, SBF said the new council comprises 24 members: 12 elected councilors, 11 representatives from trade associations and chambers, and one co-opted councilor.
The new council includes six new councilors: Adam Click, Chairman of the American Chamber of Commerce in Singapore (AmCham Singapore); Mok Sze Xiang, President of the Restaurant Association of Singapore; Lee Teck Ming, Chairman of SGTech; and Suhaimi Zainul-Abidin, CEO of hedge fund Quantedge Capital.
Future Ready Business Dialogue: How Government and Enterprises Collaborate
During the AGM, SBF also held its fifth Future Ready Business Dialogue, with Minister in charge of the Public Service and Minister for Defence Chan Chun Sing as the guest of honour.
Themed "System-wide Readiness: What Changes Must Government and Businesses Make?", the dialogue brought together many corporate executives and policymakers to discuss how enterprises can enhance resilience, build future-ready capabilities, and cope with growing uncertainty.
Lee Kian Hing: Ensure Enterprises Stay Competitive and Resilient for Future Growth
The new chairman, also a Nominated MP, said in the statement that geopolitical tensions, the rapid development of artificial intelligence (AI), and shifts in the trade landscape are reshaping the global economy, bringing both challenges and opportunities for enterprises.
Lee Kian Hing said: "My top priority is to ensure that enterprises remain competitive, resilient, and future-ready. We will work closely with businesses, the government, and industry partners to develop practical solutions, foster a conducive business environment, and help enterprises build the capabilities needed for innovation, internationalization, and robust growth."
He also mentioned that Singapore will assume the ASEAN chairmanship next year, which is a good opportunity to deepen regional economic integration and consolidate ASEAN's role as a key engine of global growth. "SBF will work with regional partners to turn these opportunities into tangible business outcomes and make ASEAN more interconnected, innovative, and sustainable."
Lee previously served as SBF Vice Chairman and Treasurer. He also acted as Chairman during Teo Siong Seng's temporary leave of absence.
Teo Siong Seng, aged 71, issued a statement in May saying he would not seek re-election after his term as SBF Chairman ended on June 24. He had earlier temporarily stepped down from his positions 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. Previously, Lianhe Zaobao reported that US authorities accused him of involvement in manipulating dry bulk container prices.
