Sing Lun Holdings CEO Lee Kian Hup Elected New SBF Chairman
Lee Kian Hup, CEO of Sing Lun Holdings, was elected the new chairman of the Singapore Business Federation (SBF), succeeding outgoing chairman Teo Siong Seng, who earlier announced he would step aside temporarily and not seek re-election.
SBF held its 24th Annual General Meeting on Wednesday (June 24) and elected the 13th Council, with a two-year term ending in 2028.
SBF said in a statement that the new council comprises 24 members: 12 elected council members, 11 representatives from trade associations and chambers, and one co-opted member.
Six new council members include: Adam Click, Chairman of AmCham Singapore; Mok Siang, 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: Government and Businesses Tackle Uncertainty Together
Alongside the AGM, SBF also held the fifth Future Ready Business Dialogue, with guest of honor Chan Chun Sing, Minister-in-charge of the Public Service and Minister for Defence.
Themed "Whole-of-System Readiness: What Must Government and Businesses Change," the dialogue gathered business leaders and policymakers to discuss how companies can build resilience, develop future-ready capabilities, and cope with rising uncertainty.
Lee Kian Hup: Ensure Businesses Remain Competitive and Resilient for the Future
The new chairman, who is also a Nominated Member of Parliament, said in the statement that geopolitical tensions, rapid AI development, and shifting trade patterns are reshaping the global economy, bringing challenges and opportunities.
Lee said: "My top priority is to ensure businesses remain competitive, resilient, and future-ready. We will work closely with businesses, government, and industry partners to develop practical solutions, create a pro-business environment, and help companies build capabilities for innovation, internationalization, and steady growth."
He also noted that Singapore will assume the ASEAN chairmanship next year, a prime opportunity to deepen regional economic integration and strengthen ASEAN as a key global growth engine. "SBF will partner with regional counterparts to translate these opportunities into tangible business outcomes and drive a more connected, innovative, and sustainable ASEAN."
Lee had previously served as SBF Vice Chairman and Treasurer. He also acted as Chairman while Teo Siong Seng temporarily stepped aside.
Teo, 71, issued a statement in May saying he would not seek re-election after his SBF chairman term ended on June 24. 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 by the U.S. Department of Justice. Previously, media reported that U.S. authorities accused him of involvement in fixing dry container prices.
