New Chairman For Accounting And Corporate Regulatory Authority (ACRA) Board

1.   The Deputy Prime Minister and Minister for Finance has appointed Ms Lim Soo Hoon, incoming Permanent Secretary (Finance)(Performance), as Chairman of the Board of the Accounting and Corporate Regulatory Authority (ACRA) with effect from 1 April 2012. Ms Lim takes over the Board Chairman appointment from Ms Chan Lai Fung, Permanent Secretary (Finance)(Performance), who will be Permanent Secretary (Education Policy) with effect from 1 April 2012.

2.   Six new board members have also been appointed and four re-appointed. The new board members are:

• Mr Alan Rupert Nisbet, Company Director

• Professor Ho Yew Kee, Vice-Dean of Finance and Administration, NUS Business School

• Mr Lee Kim Shin, Partner of Allen & Gledhill LLP

• Mr Sajjad Akhtar, Managing Partner / Head of Financial Advisory Services of PKF-CAP LLP

• Mr Yeoh Oon Jin, Partner and Head of Assurance of PricewaterhouseCoopers LLP

• Mr Ong Wee Kiat Philip, Director (Environmental Policy) of Ministry of Environment and Water Resources

A brief write-up of the new members is attached at Annex A (116 KB).

3.   The four re-appointed board members are:

• Mr Lawrence Kwan, Chairman of Singapore Association of the Institute of Chartered Secretaries and Administrators (SAICSA)

• Mr Ong Yew Huat, Executive Chairman of Ernst and Young LLP

• Mr Thean Lip Ping, Senior Consultant with RHTLaw Taylor Wessing LLP

• Mr Yap Chee Keong, Company Director

4.   Ms Chan Lai Fung was appointed as Chairman of ACRA Board on 1 September 2010. During her tenure, Ms Chan steered ACRA through the development of its law reform projects to ensure that the relevant laws under ACRA’s oversight remain current and continue to be able to support Singapore’s growth as an international business and financial hub. This includes the review of the Accountants Act, the Business Registration Act and the Companies Act.

5.   The Ministry of Finance and the Accounting and Corporate Regulatory Authority welcome Ms Lim Soo Hoon and the Board members to the Board. MOF and ACRA would also like to express their appreciation to the outgoing Chairman, Ms Chan Lai Fung and the retiring members - Mr Dilhan Pillay Sandrasegara, Mr Gerard Ee, Mr Kon Yin Tong, Mr Lam Yi Young, Mr Sitoh Yih Pin and Professor Pang Yang Hoong - for their invaluable contributions to the Board.

6.   A brief write-up on the new Chairman and outgoing Chairman is attached at Annex B (61 KB). 7.   The current list of board members of ACRA Board is at Annex C (91 KB).

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