Stellar Holdings CEO Lee Kian Hup elected SBF chairman, emphasizes ASEAN cooperation and regional economic integration
Stellar Holdings CEO Lee Kian Hup has been elected as the new chairman of the Singapore Business Federation (SBF), succeeding former chairman Teo Soon Siang, who had 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, with a term of two years ending in 2028.
The SBF released a statement indicating that the new Council has a total of 24 members, including 12 elected council members, 11 representatives from trade associations and chambers, and one co-opted council member.
Among the six new council members are Adam Click, Chairman of the American Chamber of Commerce in Singapore; Mok Si-hiong, President of the Singapore Restaurant 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 Chan Chun Sing, Minister for Public Service and Defence. The dialogue, themed 'System-wide Preparedness: What Must Government and Business Change?', brought together many business executives and policymakers to discuss how companies can enhance resilience, build future-ready capabilities, and respond to growing uncertainties.
Lee Kian Hup: Ensuring businesses remain competitive and resilient for future development
The new chairman, who is also a Nominated Member of Parliament, said in the statement that geopolitical tensions, rapid advancements in artificial intelligence (AI), and shifting trade patterns are reshaping the global economy, presenting both challenges and opportunities for businesses.
Lee said, 'My top priority is to ensure that businesses remain competitive, resilient, and future-ready. We will work closely with businesses, the government, and industry partners to develop practical solutions, foster a pro-business environment, and help companies build the capabilities needed for innovation, internationalization, and robust growth.'
He also noted that Singapore will chair ASEAN next year, which is an opportunity to deepen regional economic integration and solidify ASEAN as a key global growth engine. 'The SBF will work hand-in-hand with regional partners to translate these opportunities into concrete business outcomes and make ASEAN more interconnected, innovative, and sustainable.'
Lee previously served as Deputy Chairman and Treasurer of the SBF. He also acted as Chairman during Teo Soon Siang's temporary leave.
Teo Soon Siang, aged 71, issued a statement in May declaring that he would not seek re-election after his term as SBF chairman ended on June 24. He had earlier temporarily stepped down from his positions as SBF Chairman, Executive Chairman and Director of Pacific International Lines, among others, to deal with charges filed by the US Department of Justice. Earlier, Lianhe Zaobao reported that the US had accused him of involvement in manipulating dry container cargo prices.
