Sing Lun Holdings Lee Kian Hup Elected New SBF Chairman
Sing Lun Holdings President Lee Kian Hup 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 two-year term until 2028.
In a statement, SBF said the new Council comprises 24 members, including 12 elected councilors, 11 representatives from trade associations and chambers, and one co-opted councilor.
Among the six new councilors are Adam Click, Chairman of AmCham Singapore; Mo Sih Xiang, President of the Restaurant Association of Singapore; Teh Teck Ming, Chairman of SGTech; and Suhaimi Zainul-Abidin, CEO of hedge fund Quantedge Capital.
During the AGM, SBF also held its fifth Future Ready Business dialogue, with Guest of Honour Chan Chun Sing, Minister-in-charge of the Public Service and Minister for Defence.
Themed 'Whole-of-System Readiness: What Must Governments and Businesses Change?', the dialogue brought together business executives and policymakers to discuss how companies can build resilience, future-proof capabilities, and navigate growing uncertainty.
Lee Kian Hup: Ensuring Businesses Stay Competitive and Resilient for the Future
The new chairman, who is also a Nominated MP, said in the statement that geopolitical tensions, rapid AI development, and shifting trade patterns are reshaping the global economy, presenting both challenges and opportunities for businesses.
'My priority is to ensure businesses remain competitive, resilient, and future-ready. We will work closely with enterprises, government, and industry partners to develop practical solutions, foster a pro-business environment, and help companies build the capabilities needed for innovation, internationalization, and sustainable growth,' said Lee.
He also noted that Singapore will chair ASEAN next year, presenting an opportunity to deepen regional economic integration and strengthen ASEAN as a key driver of global growth. 'SBF will partner with regional counterparts to turn these opportunities into tangible business outcomes and promote a more connected, innovative, and sustainable ASEAN.'
Lee previously served as SBF Vice Chairman and Treasurer, and acted as Chairman during Teo Siong Seng's temporary leave of absence.
Teo, 71, said in a statement in May that he would not seek re-election after his SBF chairmanship term ended on June 24. He had earlier stepped aside from his roles as SBF Chairman, Executive Chairman of Pacific International Lines, and other positions to address charges brought by the U.S. Department of Justice. Earlier, Lianhe Zaobao reported that U.S. authorities accused him of involvement in a conspiracy to fix dry bulk container prices.
