SIAS Chairman – Mr Tan Chok Kian

Date: August 19, 2007

The Management Committee of SIAS is pleased to announce that its Constitution has been amended by members at an EOGM on 11th August to enable the Management Committee to appoint a Chairman to the Association. Whilst the President and the Committee members, under the Constitution, will be duly elected by members every two years at an AGM, the Chairman will be appointed by the Management Committee for a term ending one year after the term of office of the Management Committee. This is to ensure an overlap and continuity.

The appointment of the Chairman, who will be Independent and Non-Executive, is to put in place check and balance within the Association. The amendment provides that in the event the Chairman is of the view that the President and or the Committee has acted in breach of the Association’s Constitution or the interest of the Association, he shall then direct the President or the Committee, as the case may be, to comply with the Constitution forthwith and to act in the interest of the Association.

Any Association or Organisation in the hands of one man or a few can be a recipe for failure. The Management Committee, therefore has taken this action and also appointed an Audit Committee and a Nomination Committee along with the already existing Remuneration Committee. These measures, we hope, can continue to achieve high standards of Corporate Governance at SIAS.

The Chairman shall be a person of high stature with extensive knowledge and experience. The Management Committee has therefore, approached Mr Tan Chok Kian, to be the Association’s first Chairman and is delighted that he has agreed to accept this appointment.

Mr. Tan was a former top civil servant, Chairman of POSB. He was holding the position of Permanent Secretary when he retired from the civil service in 1986. For further information on his career, his CV is attached. Mr Tan will take office upon approval of the amendments to the Constitution by the Registrar of Societies.

David Gerald

For Management Committee
Securities Investors Association (Singapore)