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Straits Times
29-04-2025
- Business
- Straits Times
Former top civil servant to join asset manager Seviora
Temasek's joint head of corporate strategy Gabriel Lim is set to take over as chief executive of Seviora Holdings on Sept 1. PHOTO: TEMASEK SINGAPORE - Temasek's joint head of corporate strategy Gabriel Lim will join Seviora Holdings, an asset management firm backed by the investment company, as chief executive officer-designate on May 1, 2025. The former top civil servant will also be appointed to Seviora's board. He is set to take over as chief executive on Sept 1, succeeding Mr Jimmy Phoon, who is retiring on Aug 31. Mr Phoon will remain on the board to support a 'smooth leadership transition', Seviora said on April 29. Headquartered in Singapore, Seviora Group is an independent asset manager wholly owned by Temasek. It has US$54 billion (S$70 billion) in assets under management as at Dec 31, 2024, and a team of more than 210 investment professionals, with offices in Singapore, India, China, Indonesia and the United Arab Emirates. Mr Lim's appointment comes seven months after he joined Temasek in October 2024. He currently oversees corporate strategy alongside Ms Lim Ming Pey, who also serves as chief of staff in the executive office and deputy chief corporate officer. Seviora Holdings chairman Goh Yew Lin said Mr Lim 'brings a wealth of experience and a fresh perspective' to the company. 'His extensive experience in strategy development and stakeholder engagement will be an asset to the firm,' he added. Mr Lim began his career in public service in 2000 and has served in various roles cross several ministries, including as principal private secretary to then Prime Minister Lee Hsien Loong from 2011 to 2014. In 2014, he was appointed chief executive of the then Media Development Authority (MDA), where he helmed efforts to regulate and develop the media industry, and led the merger of MDA with the Infocomm Development Authority to form the Infocomm Media Development Authority. Mr Lim was appointed Ministry of Trade and Industry Permanent Secretary in 2019, and subsequently re-designated as Permanent Secretary for Policy at the ministry four years later. In 2020, Mr Lim was recognised for his contributions to the public service with the Public Administration Medal (Gold), which is given to public servants who have demonstrated outstanding efficiency, competence and industry. Join ST's Telegram channel and get the latest breaking news delivered to you.
Straits Times
25-04-2025
- Business
- Straits Times
Iras Board to welcome new chairman on May 1
Mr Lai Chung Han (left) will take over from Mrs Tan Ching Yee (right) from May 1. PHOTO: PUBLIC SERVICE DIVISION Iras Board to welcome new chairman on May 1 SINGAPORE - The Board of Inland Revenue Authority of Singapore (Iras Board) will welcome Mr Lai Chung Han as its new chairman on May 1 . Appointed by the Minister for Finance , Mr Lai, 52 , will take over from Mrs Tan Ching Yee , according to a media statement from the Ministry. Mr Lai, who is also the incoming permanent secretary (finance) , was previously appointed as the p ermanent secretary (development), Ministry of Finance in July 2024. In 2022 , he was awarded the Public Administration Medal ( G old) by the President of Singapore. Mr Lai has also held various command staff appointments throughout his military career, serving as d eputy secretary (policy), Ministry of Defence from 2012 , and as c hief of Navy from 2014. He was appointed second permanent secretary (education) and second permanent secretary (home affairs) in 2017 , and later served as permanent secretary (education) from 2019. Serving as the board's chairman since May 1, 2016 , Mrs Tan, who is 60 , has led Iras in strengthening its international standing to better serve the R epublic. Iras represented Singapore on the Organisation for Economic Cooperation and Development (OECD) Forum on Tax Administration as a b ureau member. Iras has also administered national grants schemes such as the Uplifting Employment Credit, the Progressive Wage Credit Scheme, and the Rental Support Scheme, to support businesses and workers alike. With Mrs Tan helming the board, Iras upgraded its digital infrastructure to serve taxpayers better and enhance compliance efforts. This include d successful generational upgrade in the information technology system for property tax, stamp duties and individual income tax, among other improvements. 'The Ministry of Finance and the Inland Revenue Authority of Singapore welcome Mr Lai to the board and would like to express our deep appreciation to outgoing chairman, Mrs Tan Ching Yee, for her significant contributions to the Iras Board,' the statement read. Join ST's WhatsApp Channel and get the latest news and must-reads.
Business Times
25-04-2025
- Business
- Business Times
Minister for Finance appoints new Iras board chairman Lai Chung Han
[SINGAPORE] Lai Chung Han, 52, incoming permanent secretary for finance, has been appointed chairman of the board of the Inland Revenue Authority of Singapore (Iras), effective May 1. He succeeds Tan Ching Yee, 60, who has served as chairman since 2016, the Ministry of Finance said in a statement on Friday (Apr 25). Lai has held several leadership roles in the Singapore Armed Forces and the Ministry of Defence. He became deputy secretary (policy) at the Ministry of Defence in 2012 and Chief of Navy in 2014. In 2017, he was appointed second permanent secretary for both education and home affairs. He was appointed as permanent secretary (education) in 2019 and, in 2024, took on the role of permanent secretary (development) at the Ministry of Finance. In 2022, he received the Public Administration Medal (Gold) from the president. Under Tan's leadership, Iras participated in major international platforms and represented Singapore as a bureau member on the Organisation for Economic Cooperation and Development Forum on Tax Administration. It grew beyond its traditional role to become the centre of excellence for national grant disbursement, rolling out schemes such as the Rental Support Scheme, Jobs Support Scheme and Wage Credit Scheme, to support businesses and workers. The company also upgraded its digital systems and used artificial intelligence to improve services for taxpayers. 'The Ministry of Finance and the Inland Revenue Authority of Singapore welcome Mr Lai to the Board and would like to express our deep appreciation to outgoing chairman, Mrs Tan Ching Yee, for her significant contributions to the Iras board,' the statement noted.
Business Times
25-04-2025
- Business
- Business Times
Minister for Finance appoints new Iras chairman Lai Chung Han
[SINGAPORE] Lai Chung Han, 52, incoming permanent secretary for finance, has been appointed chairman of the board of the Inland Revenue Authority of Singapore (Iras), effective May 1. He succeeds Tan Ching Yee, 60, who has served as chairman since 2016, the Ministry of Finance said in a statement on Friday (Apr 25). Lai has held several leadership roles in the Singapore Armed Forces and the Ministry of Defence. He became deputy secretary (policy) at the Ministry of Defence in 2012 and Chief of Navy in 2014. In 2017, he was appointed second permanent secretary for both education and home affairs. He was appointed as permanent secretary (education) in 2019 and, in 2024, took on the role of permanent secretary (development) at the Ministry of Finance. In 2022, he received the Public Administration Medal (Gold) from the president. Under Tan's leadership, Iras participated in major international platforms and represented Singapore as a bureau member on the Organisation for Economic Cooperation and Development Forum on Tax Administration. It grew beyond its traditional role to become the centre of excellence for national grant disbursement, rolling out schemes such as the Rental Support Scheme, Jobs Support Scheme and Wage Credit Scheme, to support businesses and workers. The company also upgraded its digital systems and used artificial intelligence to improve services for taxpayers. 'The Ministry of Finance and the Inland Revenue Authority of Singapore welcome Mr Lai to the Board and would like to express our deep appreciation to outgoing chairman, Mrs Tan Ching Yee, for her significant contributions to the Iras board,' the statement noted.
