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Keppel Corporation announced on Monday (March 22) the appointment of Teo Eng Cheong as CEO of China-Singapore Tianjin Eco-City and Investment Development Co (SSTEC), the lead developer behind a bilateral Singapore-China project, and will replace to outgoing chief Tay Lim Heng as of June 1.
SSTEC was founded in July 2009 as a result of a collaboration agreement between the governments of China and Singapore to jointly develop an environmentally friendly city in China, namely Tianjin Eco-City.
Keppel Corp in a statement said that Mr. Tay will be appointed Managing Director of Keppel Urban Solutions on the same day.
He stated that Mr. Teo will also have a simultaneous appointment as an advisor on Eco-City affairs to the Singapore Ministry of National Development (MND), adding that he has been the director of the corporate office at Keppel Corporation since January 1, this year.
Keppel Corporation CEO Loh Chin Hua said he is confident that Mr. Teo will provide “effective leadership to SSTEC in the next phase of green city development.”
“Eng Cheong has a wealth of experience from the Singapore government and the private sector, including a deep understanding of the Chinese market,” he noted.
Mr. Teo has held various leadership positions in the Singapore government, including CEO of International Enterprise Singapore and CEO of the Singapore Competition Commission, among others.
Prior to joining Keppel, Mr. Teo was CEO (international) of Surbana Jurong Group from 2016, until he decided to step down in September last year to “pursue other interests”.
For those of you who don’t know, Mr. Teo is married to Human Resources Minister Josephine Teo. The two became embroiled in a controversy last year when it was alleged that construction contracts related to the COVID-19 outbreak had been improperly awarded to Surbana Jurong.
Ms. Teo refuted the allegations, calling them “false, defamatory and completely unfounded” and ordered her attorneys to issue formal demand letters on the allegations, requiring that they be withdrawn.
“I understand that I am legally entitled to substantial damages for these serious and baseless allegations. However, I do not intend to pursue the matter, or claim damages, if the allegations are publicly dropped and an apology is offered, “he said in a statement last May.
Later on the same day, Facebook user Donald Liew apologized to Ms Teo for falsely accusing her and her husband of corruption.
Civil rights activist Jolovan Wham had also posted a statement on his Facebook page on May 22 last year apologizing for a statement he made in a comment on the social media platform about the minister on May 16. .
The Ministry of Health (MOH), MND and Surbana Jurong had also denied the allegations.
Netizens Think Teo Eng Cheong’s Appointment As SSTEC’s New CEO Is A “Conflict Of Interest”
Writing their thoughts in the comment section of HOY’s Facebook post, many netizens criticized Keppel Corp’s decision to appoint Mr. Teo as the new CEO of SSTEC, calling it a “conflict of interest.”
Some even said Mr. Teo has “good connections” in the industry to get that job.
