Press Releases

1. The Minister for Finance has appointed Mrs Tan Ching Yee, Permanent Secretary (Finance), as the Chairman of the Accounting and Corporate Regulatory Authority (ACRA) Board with effect from 1 April 2018. She succeeds Ms Lim Soo Hoon, who has been the Chairman of the ACRA Board since 1 April 2012.

2. The Minister for Finance has also re-appointed five board members and appointed four new board members to the ACRA Board. The appointments will take effect from 1 April 2018. 

3. The re-appointed board members are:

Mr Adrian Chan
Partner
Lee & Lee Advocates & Solicitors

Ms Chandra Mallika
Managing Director/ Chief Operating Officer Asia Pacific
Deutsche Bank AG, Singapore Branch

Mr Max Loh
Managing Partner
Ernst & Young, ASEAN and Singapore

Mr Tham Sai Choy
Chartered Accountant

Mr Ow Fook Chuen
Accountant- General
Accountant- General's Department

4. The four new board members are:

Mr Bruce Liang
Chief Executive Officer, Integrated Health Information Systems Pte Ltd and 
Chief Information Officer, Ministry of Health

Mr Kevin Wong
Advocate and Solicitor

Mr Muhammad Hidhir Bin Abdul Majid
Principal District Judge
Family Justice Courts

Mr Paul Lee
Managing Partner
RSM Singapore

5. Under Ms Lim’s Chairmanship, a holistic review of the Companies Act was conducted with major amendments made in 2014 to reduce the regulatory burden for companies, providing greater business flexibility and improving the corporate governance landscape in Singapore. A second review in 2017 saw the introduction of beneficial ownership requirements to improve corporate transparency. Ms Lim also oversaw the enhancement of the regulatory framework for public accountants to raise audit quality, and the introduction of a regulatory regime for corporate service providers, as part of efforts to strengthen the regime for countering money laundering and terrorism financing in Singapore. Under Ms Lim’s stewardship, ACRA has progressively made public business-related data to encourage the creation of better business solutions in the public and private sectors. 

6. A brief write-up of the new Chairman, outgoing Chairman and new members is attached at Annex A (327 KB).

7. The Ministry of Finance and the ACRA Board welcome Mrs Tan Ching Yee and the new members to the Board. MOF and ACRA would also like to express appreciation to the retiring Chairman, Ms Lim Soo Hoon and retiring members - Mr Sajjad Akhtar, Mr Alan Rupert Nisbet, Ms Melissa Khoo Ming, and Mr Muthukrishnan Ramaswami - for their invaluable contributions to the Board.

8. The ACRA Board comprises sixteen members (including its Chairman). The list of members, with effect from 1 April 2018, is attached at Annex B (7 KB).


Issued by Ministry of Finance 
Singapore
27 March 2018