Star Wheel Holdings President Lee Jianhui Elected New SBF Chairman

Star Wheel Holdings President Lee Jianhui was elected as the new chairman of the Singapore Business Federation (SBF), succeeding former chairman Teo Siong Seng, who earlier announced a temporary leave and did not seek re-election.

SBF held its 24th Annual General Meeting on Wednesday (June 24) and elected the 13th Council, serving a two-year term until 2028.

SBF stated in a release that the new Council consists of 24 members, including 12 elected councilors, 11 representatives from trade associations and chambers, and one co-opted councilor.

The new Council includes six new members, such as Chairman of AmCham Singapore Adam Click, President of the Restaurant Association of Singapore Mok Siang, Chairman of SGTech Lee Teck Ming, and CEO of hedge fund Quantedge Capital Suhaimi Zainul-Abidin.

During the AGM, SBF also held the fifth Future Ready Business dialogue, with Guest of Honour Minister for Public Service and Defence Chan Chun Sing.

The dialogue, themed "System-Wide Preparedness: What Changes Must Government and Business Make?", gathered business executives and policymakers to discuss how enterprises can enhance resilience, build future-ready capabilities, and cope with growing uncertainties.

Lee Jianhui: Ensuring Enterprises Stay Competitive and Resilient for the Future

New chairman Lee Jianhui, also a Nominated Member of Parliament, said in the release that geopolitical tensions, rapid AI development, and shifting trade patterns are reshaping the global economy, presenting both challenges and opportunities.

Lee Jianhui said: "My top priority is to ensure that enterprises remain competitive, resilient, and future-ready. We will work closely with businesses, government, and industry partners to develop practical solutions, create a conducive business environment, and help enterprises build capabilities needed for innovation, internationalization, and steady growth."

He also noted that Singapore will serve as ASEAN Chair next year, an opportunity to deepen regional economic integration and cement ASEAN as a key global growth engine. "SBF will partner with regional counterparts to turn these opportunities into tangible business outcomes and promote a more interconnected, innovative, and sustainable ASEAN."

Lee Jianhui previously served as SBF Vice-Chairman and Treasurer. He also acted as Chairman during Teo Siong Seng's temporary leave.

Teo Siong Seng, 71, issued a statement in May saying he would not seek re-election after his term ended on June 24. He had earlier temporarily stepped down as SBF Chairman, Executive Chairman and Director of Pacific International Lines, among other roles, to deal with charges by the US Department of Justice. Earlier, Lianhe Zaobao reported that US authorities accused him of involvement in manipulating dry bulk container prices.