Sing Lun Holdings CEO Lee Chian Hui elected new SBF chairman
Lee Chian Hui, President of Sing Lun Holdings, was elected the new chairman of the Singapore Business Federation (SBF), succeeding Teo Siong Seng, who earlier announced he would step down temporarily and not seek re-election.
The SBF held its 24th Annual General Meeting on Wednesday (June 24) and elected the 13th Council for a two-year term until 2028.
The SBF said in a statement that the new council has 24 members, comprising 12 elected council members, 11 representatives of trade associations and chambers, and one co-opted council member.
Six new councillors were elected, including Adam Click, Chairman of the American Chamber of Commerce in Singapore (AmCham Singapore); Mo Sixiang, President of the Singapore Restaurants Association; Lee Teck Ming, Chairman of SGTech; and Suhaimi Zainul-Abidin, CEO of hedge fund Quantedge Capital.
During the AGM, the SBF also held the fifth Future Ready Business Dialogue, with guest of honour Minister for Public Service and Defence Chan Chun Sing.
Themed "Whole-of-System Preparation: What Must Change for Government and Business," the dialogue brought together business leaders and policymakers to discuss how companies can build resilience, develop future-ready capabilities, and navigate rising uncertainties.
Lee Chian Hui: 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, presenting both challenges and opportunities for businesses.
"My top priority is to ensure that businesses remain competitive, resilient, and future-ready," Lee said. "We will work closely with companies, government, and industry partners to develop practical solutions, foster a conducive business environment, and help companies build the capabilities needed for innovation, internationalisation, and sustainable growth."
He also noted that Singapore will chair ASEAN next year, presenting an opportunity to deepen regional economic integration and strengthen ASEAN as a key engine of global growth. "SBF will partner with regional counterparts to turn these opportunities into tangible business outcomes and make ASEAN more connected, innovative, and sustainable."
Lee previously served as SBF Vice-Chairman and Treasurer. He had also acted as Chairman during Teo's temporary 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 as SBF chairman, Executive Chairman and Director of PIL, and other positions to deal with a U.S. Department of Justice indictment. Lianhe Zaobao had earlier reported that U.S. authorities accused him of involvement in manipulating dry bulk container prices.
