Xinglun Holdings president Lee Kian Hwee elected new SBF chairman: focus on corporate resilience and future readiness

Xinglun Holdings president Lee Kian Hwee has been elected the new chairman of the Singapore Business Federation (SBF), succeeding former chairman Zhang Songsheng, who had earlier announced a temporary step back and that he would not seek re-election.

The federation held its 24th annual general meeting on Wednesday (June 24) and elected its 13th council, which will serve a two-year term until the end of 2028.

In a statement, the federation said the new council has 24 members, including 12 elected council members, 11 representatives from industry associations and chambers, and one co-opted member.

Six new council members were appointed, including Adam Click, president of AmCham Singapore; Mo Shixiang, president of the Singapore Restaurant Association; Li Deming, chairman of SGTech; and Suhaimi Zainul-Abidin, chief executive of hedge fund Quantedge Capital.

During the AGM, the federation also held the fifth Future Ready Business dialogue, with Minister for Public Service Coordination and Minister for Defence Chan Chun Sing as guest of honour.

The dialogue, themed “System-wide readiness: What must governments and businesses change?”, brought together many business leaders and policymakers to discuss how companies can strengthen resilience, build future-ready capabilities, and respond to growing uncertainty.

Lee Kian Hwee: Keep businesses competitive and resilient for the future

The new chairman, Lee Kian Hwee, is also a Nominated Member of Parliament. In the statement, he said geopolitical tensions, the rapid rise of artificial intelligence (AI), and shifts in trade patterns are reshaping the global economy, creating both challenges and opportunities for businesses.

Lee said: “My top priority is to ensure that businesses remain competitive, resilient and future-ready. We will work closely with businesses, the government and industry partners to develop practical solutions, create an environment that supports business growth, and help companies build the capabilities needed for innovation, internationalisation and steady growth.”

He also noted that Singapore will chair ASEAN next year, offering a good opportunity to deepen regional economic integration and reinforce ASEAN as a key engine of global growth. “The federation will work with partners across the region to turn these opportunities into real business outcomes and drive a more connected, innovative and sustainable ASEAN.”

Lee previously served as the federation’s vice-chairman and treasurer. While Zhang Songsheng was temporarily away from the chairmanship, Lee also acted as chairman.

Seventy-one-year-old Zhang Songsheng issued a statement in May saying he would not seek re-election after his term as SBF chairman ended on June 24. He had already temporarily stepped back from several roles, including SBF chairman and executive chairman and director of Pacific International Lines, to deal with charges brought against him by the U.S. Department of Justice. Earlier, Lianhe Zaobao reported that U.S. authorities accused him of allegedly taking part in a dry-container price manipulation scheme.