Latest news with #DannyQuah
Free Malaysia Today
15 hours ago
- Business
- Free Malaysia Today
Rejigging Asean supply chains will hurt but won't kill, says S'pore economist
Lee Kuan Yew School of Public Policy dean Danny Quah said the global economic landscape was no longer overwhelmed by any single power. KUALA LUMPUR : A senior economist from Singapore has called on Asean to rejig its supply chains to navigate a new global landscape marked by rising economic protectionism, particularly by the US. Danny Quah, dean of the Lee Kuan Yew School of Public Policy at the National University of Singapore, said Asean urgently needed to adapt to the new economic landscape and focus on building resilience and a robust internal market. 'The US has withdrawn from the Paris Agreement, the World Health Organization, the World Trade Organization, and it will probably continue to do that (with other international pacts),' he said at the 38th Asia-Pacific Roundtable here today. The conference, organised annually by the Institute of Strategic and International Studies (ISIS) Malaysia, brings together experts from across Asia-Pacific to discuss key issues impacting the region. Quah said that while the US remained important, its share of Chinese trade had almost halved from 25% to 13% over the span of two decades, showing that the global economic landscape was no longer overwhelmed by any single power. 'We are already looking at a world without the US (as the sole dominant economic force). We need to prepare for it. 'We need to consider what policy is going to work best for the new US-protectionist landscape. We need to remember that while the US is important, it no longer overwhelms the landscape. 'We should rewire our supply chains and carry on. It will hurt, but it will not kill us.' Deputy investment, trade and industry minister Liew Chin Tong agreed with Quah and suggested that Asean set up a development fund of its own to acquire excess production capacity in various sectors, including manufacturing. He pointed out that the world was shifting from one that was unipolar, with the US no longer dominating the global economy. 'Instead, we are moving to a multipolar world, with Asean and the EU as a middle ground. It is increasingly apparent that tariffs will be a part of the new world order, especially with the steel industry,' Liew said. 'It is not enough to consider moving supply chains to Southeast Asia to continue exporting to the US. The Trump administration will set goalposts and change them at the last minute. We should think about the long-term and re-wire the way we think about trade. 'Asean cannot just be about free trade agreements. We should start thinking about an Asean Fund to buy excess production capacity.'
Yahoo
02-04-2025
- Business
- Yahoo
RHB SINGAPORE ANNOUNCES LEADERSHIP TRANSITION TO DRIVE CONTINUED GROWTH
SINGAPORE, April 2, 2025 /PRNewswire/ -- RHB Singapore announced the appointment of Goh Ken-Yi as its new Chief Executive Officer (CEO), effective 1 April 2025, reinforcing the bank's commitment to sustainable growth, customer-centricity, and purpose-driven financial services. This leadership transition ensures continuity while positioning RHB Singapore for long-term success in an increasingly dynamic financial landscape, with a strategic focus on regionalisation, particularly strengthening the Singapore-Malaysia (SG-MY) corridor. Goh, who previously served as Deputy CEO of RHB Singapore, succeeds Danny Quah. With over 20 years of experience in investment banking and financial services sector, Goh has been instrumental in driving RHB Singapore's growth since joining in 2016. His leadership has strengthened the corporate and investment banking business, enhanced operational efficiencies, and deepened client relationships. As CEO, Goh will focus on advancing digital capabilities, delivering innovative financial solutions, and strengthening RHB Singapore's footprint across priority segments. Goh graduated from Cornell University with a Bachelor of Engineering (Cum Laude) and a Bachelor of Arts degree. Goh expressed enthusiasm about his new role, stating, "I am honoured to lead RHB Singapore and build on the strong foundation laid by Danny and the team. Our priority remains deepening client engagement, accelerating digital transformation, and expanding our offerings to meet customers' evolving needs. Backed by a clear strategy and an exceptional team, we are well-positioned to chart the next phase of growth and reinforce our standing as a leading financial institution in the region." Danny Quah, who has served as CEO and Country Head since 2019, will take on a broader leadership role as Managing Director, Group International Business (GIB). In this capacity, he will lead RHB Banking Group's international expansion, focusing on deepening the Group's presence in high-potential markets across the region, which includes Singapore, Cambodia, Thailand, Laos and Brunei. With over three decades of banking experience, including over a decade in senior leadership roles such as CEOs and Country Heads, Quah has strengthened RHB Singapore's market position, improved profitability, and enhanced cross-border collaborations. "It has been a privilege to lead RHB Singapore through a transformative period," said Quah. "I look forward to steering our international business and unlocking new growth opportunities for the Group. With Ken-Yi at the helm, I am confident that RHB Singapore will continue to deliver lasting value for our clients." Building on RHB's position as a leading financial services provider, this leadership transition is strategically aligned with the Group's new corporate strategy – PROGRESS27, which aims to become the Best Service Bank, drive High Profitability and uphold its commitment as a Responsible and Purposeful financial institution. Issued on behalf of RHB Singapore by the Brand Marketing and Communications department. About RHB Singapore RHB Singapore was first established in 1961 through a series of rapid expansion and strategic mergers. For more than half a century in Singapore, RHB has garnered invaluable financial experience and transferred those insights of service excellence on to clients, helping individuals and corporations fulfil their financial goals. RHB Singapore's core businesses are streamlined into five pillars, namely Retail Banking, Commercial Banking, Corporate and Investment Banking, Treasury and Asset Management. RHB Banking Group aspires to deliver superior customer experience and shareholder value; and to be recognised as a Leading Multinational Financial Services Group. Find out more about RHB Singapore at View original content to download multimedia: SOURCE RHB Singapore
