DBS appoints Ang Kong Hua to its boards
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Ang 's appointment begins March 21
SINGAPORE, March 21, 2005 - DBS Group Holdings (DBSH) said today
it has appointed Ang Kong Hua to the Boards of DBSH and DBS Bank.
After serving as Chief Executive Officer of NatSteel Ltd (NatSteel)
for 28 years, Mr Ang, 61, became its Executive Director from January
2004 focussing on strategic matters.
He started his working career in August 1966 at the Economics Development
Board before joining DBS Bank at the Bank's inception in 1968. In
his six years with DBS, he was responsible for establishing the
Corporate Finance Division, which was the Bank’s initiative
in investment banking.
Mr Ang is noted particularly for transforming the NatSteel Group
from a single business, single country mini steel mill to one of
Singapore’s largest industrial conglomerates, with operations
in 14 countries and a staff strength of over 25,000 at its peak.
This included NatSteel Electronics Limited, a large electronic components
manufacturing division, a globally ranked OEM manufacturer of electronic
components.
Welcoming Mr Ang to the Boards, S. Dhanabalan, Chairman of DBSH
and DBS Bank, said: “Kong Hua brings with him tremendous wealth
of experience in the private sector, particularly in the key manufacturing
and electronic industries. The results NatSteel achieved under his
leadership have been extraordinary. I look forward to his insightful
views and advice."
“We are fortunate to have outstanding captains of industries
serve as independent directors on our boards. Most, if not all,
will be leaders of businesses which have dealings with the DBS Group.
Over the years, the challenge for us is to capitalise on their market
insight and experience without impairing their independence as directors.
In view of this, we have put in place policies and procedures within
the Group to ensure that dealings with their businesses are done
strictly at arms length without favour or prejudice to ensure that
we do not compromise their independence.”
Mr Ang also serves on the boards of Neptune Orient Lines Limited,
K1 Ventures Limited and the Government of Singapore Investment Corporation
Pte Ltd. He was formerly Chairman of Singapore Telecommunications
Limited and Singapore Post Pte Ltd.
With the appointment of Mr Ang, DBSH Board of Directors now comprises
15 members, including two executive directors and six non-Singaporeans.
They are:
- Mr S Dhanabalan - Chairman
- Mr Jackson Tai - Vice Chairman and CEO
- Mr Frank Wong Kwong Shing - Chief Operating Officer
- Mr Ang Kong Hua
- Mr Bernard Chen Tien Lap
- Mr Fock Siew Wah
- Ms Gail D Fosler
- Mr Goh Geok Ling
- Mr Kwa Chong Seng
- Mr Leung Chun Ying
- Mr N R Narayana Murthy
- Mr Peter Ong Boon Kwee
- Mr John A. Ross
- Mr Thean Lip Ping
- Mr Wong Ngit Liong
About DBS
Headquartered in Singapore, DBS is one of the largest financial
services groups in Asia. The largest bank in Singapore and the fifth
largest banking group in Hong Kong as measured by assets, DBS has
dominant positions in consumer banking, treasury and markets, asset
management, securities brokerage, equity and debt fund raising.
Beyond the anchor markets of Singapore and Hong Kong, DBS serves
corporate, institutional and retail customers through its operations
in Thailand, Malaysia, Indonesia, India and The Philippines. In
China, the bank has branches and representative offices in Shanghai,
Beijing, Guangzhou, Shenzhen, Fuzhou, Tianjin and Dongguan. The
Bank's credit ratings are among the highest in the Asia-Pacific
region. More information about DBS Group Holdings and DBS Bank can
be obtained from our website.
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