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Board of Directors

Png Cheong Boon

Chairman

 EDB & EDBI

Jermaine Loy

Managing Director

EDB

Choo Heng Tong

Executive Vice President

EDB 

Choo Yong Cheen

Chief Investment Officer for Private Equity

GIC

Andrew Lim

Partner

Allen and Gledhill

Lee Chuan Teck

Executive Chairman

Enterprise Singapore

Harish Manwani

Senior Operating Partner

Blackstone

David Su

Founding Managing Partner

MPCi

George Raymond Zage III

CEO

Tiga Investments Pte Ltd

Png Cheong Boon

Chairman

Mr Png Cheong Boon was appointed Chairman of the Singapore Economic Development Board (EDB) on 1 May 2023. He also chairs the Board of Directors of EDBI.

 

Cheong Boon was Chief Executive Officer of Enterprise Singapore (EnterpriseSG) from 1 April 2018 to 30 April 2023. Prior to that, he was the Second Permanent Secretary at the Ministry of Trade & Industry, a role he took on in June 2017. He also served as the Chief Executive Officer of JTC Corporation from 2013 to 2017 and Chief Executive of SPRING Singapore from 2008 to 2013. He began his career with EDB in 1993 and held various portfolios in Singapore and the US before joining SPRING Singapore as its Deputy Chief Executive in 2003.

 

Cheong Boon serves on the boards of EnterpriseSG, Business China, National Research Foundation, Raffles Medical Group and Human Capital Leadership Institute. He previously served on the boards of Singapore Cooperation Enterprise, Infrastructure Asia, Singapore Israel Industrial Research and Development Foundation, Employment and Employability Institute Pte Ltd, Singapore Innovate Pte Ltd, Ascendas-Singbridge Pte Ltd, China-Singapore Suzhou Industrial Park Development Group Co. Ltd, Jurong Port Pte Ltd, the Singapore Suzhou Township Development Pte Ltd, Surbana Jurong Pte Ltd, the Institute for Engineering Leadership at the National University of Singapore and the Institute of Service Excellence at the Singapore Management University.

 

A recipient of the EDB-GlaxoSmithKline scholarship, Cheong Boon holds a Bachelor of Science degree in Electrical Engineering from Cornell University and a Master of Science in Management under the Sloan Fellows Programme at Stanford University.

 

He was conferred the Public Administration Medal (Gold) in 2020.

Jermaine Loy

Managing Director, EDB

Mr Jermaine Loy was appointed Managing Director of the Singapore Economic Development Board (EDB) on 1 March 2025. He chairs the DesignSingapore Advisory Board, and also serves on the Boards of EDBI and the Maritime and Port Authority of Singapore.
 
Before joining the EDB, Jermaine served in the Prime Minister’s Office (PMO) from April 2021 to December 2024 as the Principal Private Secretary to then-Prime Minister and current Senior Minister Mr Lee Hsien Loong.
 
Prior to that, he worked on various portfolios across the Singapore Public Service, including on planning Singapore’s land-use needs at the Ministry of National Development, on healthcare financing and subsidy policies at the Ministry of Health, as well as on international trade policy at the Ministry of Trade and Industry.
 
Jermaine is a Sloan Fellow and has an MBA from the MIT Sloan School of Management. He is also an alumnus of the Technical University of Munich, where he received his master’s degree in electrical engineering.

Choo Heng Tong

Executive Vice President

Mr Choo Heng Tong is the Executive Vice President of the Singapore Economic Development Board and a member of EDB’s Executive Committee. He is also an Executive Board Member of EDBI, the investment arm of EDB. He oversees EDB’s Innovation and Capital Group, which develops initiatives to advance Singapore’s transition to an innovation-led economy. The Group supports the creation of new global businesses with experienced founders and large corporates, and leverages private and family capital to foster a vibrant innovation ecosystem. 

 

Heng Tong was previously Executive Vice President (Investments) and a member of the Investment Committee at EDBI, where he was responsible for EDBI’s venture investments in biomedical sciences, emerging technologies as well as strategic growth capital for local companies. He oversaw EDBI’s operations in the United States and was part of EDBI’s Senior Management team responsible for corporate matters and policies including investment processes, risk management, corporate governance and branding. 

 

He was responsible for a number of EDBI’s key investments including Inviragen (acquired by Takeda), Livongo (NASDAQ:LVGO), Moderna (NASDAQ:MRNA), Nutonomy (acquired by Delphi), and Nanofilm International (MZH.SI). 

 

He has over 20 years of experience in investments and industry development — including M&As, business development and international growth into new markets involving both MNCs and start-ups. In addition, Heng Tong has also served on the boards of various Singapore- and US-based start-ups and growth stage companies. 

 

Heng Tong holds a Master of Engineering in Aeronautics from Imperial College London, a Master of Arts in Biotechnology from Columbia University, New York, and an AMP (Advanced Management Program) in Business Administration and Management from INSEAD. 

EDBI GEC

Choo Yong Cheen

Director

Choo Yong Cheen is GIC’s Chief Investment Officer (CIO) for Private Equity (PE). He has been a member of GIC’s Group Executive Committee (GEC) since April 2020. Since 2017, he has also been the Head of GIC’s China Business Group.

 

Yong Cheen joined GIC in 1996. From 1996‐2002, he worked in the Economics and Strategy Department, where he was involved in global economics, investment strategy and asset allocation work. From 2002‐2010, he worked in the Equities Department, where he managed an Asia regional equities portfolio, specialising in China. In 2011, Yong Cheen transferred to GIC Special Investments, to run GIC’s PE business across Asia. From 2014 to 2016, he was based in London as the Head of Europe for PE. He was appointed CIO, PE in July 2016. He was made a Managing Director in July 2011.

 

Yong Cheen graduated from the London School of Economics with a BSc in Economics (First class honours) in 1995, and with an MSc in Econometrics and Mathematical Economics (with distinction) in 1996.

EDBI ANDREW LIM

Andrew Lim

Director

Mr Andrew Lim Ming-Hui is a Partner of Allen & Gledhill and a member of the firm’s Executive Committee. He has advised clients on numerous market-leading corporate and merger and acquisition transactions. He also advises clients on corporate governance, regulatory and compliance matters. His clients include MNCs, listed and non-listed companies, financial institutions and private equity firms.

 

Andrew was called to the Singapore Bar in 1986. He was an Associate with the Firm in 1988/89 before spending time as an investment banker. He rejoined the Firm in 1993 as a Partner.

 

Andrew serves as a board member of Sentosa Development Corporation, a member of the Legal Service Commission, and on the Governing Board of Duke-NUS Medical School. He is a Director of Jurong Engineering Limited, Constellar Holdings Pte. Ltd., Weybourne Holdings Pte. Ltd., 65 Equity Partners Pte. Ltd., and PIL Pte Ltd (and some of its subsidiaries). 

 

He is also a Fellow of the Singapore Institute of Directors and a member of the National University of Singapore Law Advisory Council.

 

He is consistently recognised for his leading expertise in various publications including Chambers Global, Chambers Asia-Pacific, IFLR1000, The Legal 500 Asia Pacific, Best Lawyers and Who’s Who Legal.

Lee Chuan Teck

Director

Mr Lee Chuan Teck is the Executive Chairman of Enterprise Singapore.

 

Enterprise Singapore is the government agency championing enterprise development. The agency works with committed companies to build capabilities, innovate and internationalise. It also supports the growth of Singapore as a hub for global trading and startups, and builds trust in Singapore’s products and services through quality and standards.

 

Previously Enterprise Singapore’s Chief Executive Officer, Chuan Teck was appointed as Executive Chairman on 1 April 2024.

 

Prior to this, Chuan Teck was Permanent Secretary (Development) of the Ministry of Trade and Industry from June 2018 to April 2023 where he was responsible for the development of Singapore enterprises, and oversaw the tourism and energy sectors, as well as competition and consumer protection issues. On the trade front, he focused on expanding economic connectivity and strengthening bilateral economic relationships with Southeast, South and Central Asia and Latin America.

 

Chuan Teck started his public service career with the Monetary Authority of Singapore in 1992 covering various roles, including reserves investment, monetary policy and capital market regulation. In 2014, he was appointed Deputy Secretary (Land and Corporate) of the Ministry of Transport, where he led the restructuring of the public bus and rail sector and spearheaded the deployment of autonomous vehicles in Singapore.

 

He also serves on the boards of the Bayfront Infrastructure Management, Clifford Capital Holdings, Clifford Capital, Economic Development Board, EDBI, National Research Foundation, Singapore Health Services and Singapore Trade Data Exchange Services.

 

Chuan Teck was conferred the Public Administration Medal (Gold) in 2021.

EDBI Harish Manwani

Harish Manwani

Director

Mr. Manwani is the Senior Operating Partner for Blackstone Group and also serves as Director on several international boards. Before joining Blackstone in 2015, Mr. Manwani was Chief Operating Officer of Unilever responsible for managing the P&L across all of Unilever’s global markets. Mr. Manwani spent almost thirty-eight years with Unilever, holding various senior general management positions in different parts of the world, including overseeing Unilever’s businesses in Latin America, North America, Asia and Africa. Mr. Manwani serves on the Board of Directors of Gilead Sciences, Inc., Whirlpool Corporation and Tata Sons Private Limited. He is also Chairman of the Executive Board of the Indian School of Business.


In 2008, Mr. Manwani received the CNBC Asia Business Leader of the Year Award and in 2012, he was conferred the Public Service Medal by the Singapore Government. He has also served on ‘Singapore’s Committee on the Future Economy’ (CFE).


Harish is an Honours graduate from Bombay University and holds a Masters degree in management studies. He has also attended the Advanced Management Program (AMP) at Harvard Business School.

EDBI David Su

David Su

Director

David Su is a founding managing partner at MPCi (formerly known as Matrix Partners China), focused primarily on software, technology and healthcare investments.
 
David has been investing in China for the last two decades and some of his investments include Didi Chuxing (NSDQ:DIDI), Baidu (NSDQ:BIDU), Bona Film (NSDQ:BONA), Focus Media (NSDQ:FMCN), Kanghui Medical (NYSE:KH), Kingfriend Biochemical (SS:603707), China Youzan (8083.HK), AAC Technologies (2018.HK), Heptagon (SIX:AMS).
 
Before MPCi, David was a founding general partner of TDF Capital and KPCB China. Prior to joining the venture capital industry, David worked at Lotus Development, IBM Software Group for seven years and was last responsible for Lotus’ software and services business in Greater China region. David graduated with a Bachelor of Applied Science in Computer Engineering from Nanyang Technological University, Singapore.
 
David is a Fellow of the inaugural class of the China Fellowship Program and a member of the Aspen Global Leadership Network. He also co-founded San Si Institute, a community of high achieving entrepreneurial leaders in China who are committed to tackle the big challenges of our society.
EDBI George Raymond Zage III

George Raymond Zage III

Director

George Raymond Zage III, is the Founder and Chief Executive Officer of Tiga Investments Pte Ltd., an investment holding company that invests capital globally.   Mr. Zage is also a Senior Consultant at Farallon Capital Management LLC, a San Francisco based multi strategy asset manager, and serves as both a formal and informal advisor to several other fund management companies.   

 

Mr. Zage has been involved in investments throughout Asia in various industries including financial services, technology, infrastructure, manufacturing, mining, energy and real estate. Prior to forming Tiga, he served for 18 years as Chief Executive Officer, Managing Director and Portfolio Manager of Farallon Capital Asia Pte Ltd. Mr. Zage joined Farallon Capital Asia in 2000. He has a wealth of experience in the investment industry and has invested successfully in public and private market transactions in most countries in Asia with a particularly active history in some of the most high profile investments in Indonesia including the acquisition of Bank Central Asia, early stake investments in Protelindo, Sea, and Go-Jek, and major investments in Semen Gresik, Adaro, and BTPN. More recently his investments have included an increased focus on Canada and North America including the purchase of a controlling stake in Grindr from Kunlun which was a sale resulting from a failure from Kunlun to secure US government approval from CFIUS.  Grindr was subsequently listed on the New York Stock Exchange by a merger with Tiga Acquisiton Corp. He also recently invested in and joined the board of Dream 11, the leading Indian technology company focused on fantasy sports.

 

He has served on a number of boards including and related to Toshiba, Go-Jek, Lippo Karawaci, Whitehaven, Protelindo, Bank Central Asia, Deposco, Room to Read, the Singapore American School Foundation and the National University of Singapore Investment Committee. Prior to joining Farallon, he worked in the investment banking division of Goldman, Sachs & Co. in Singapore, New York and Los Angeles.

Paul NG

Chief Executive Officer

Paul is the Chief Executive Officer of EDBI and Chief Corporate Officer of SG Growth Capital.

 

Since joining EDBI in 2010, and prior to his appointment as CEO on 1 February 2023, Paul held various roles within the organisation. These included leading investments across global information and communication technology, emerging technology sectors, and Singapore-based enterprises.

 

Prior to EDBI, Paul managed investments in public consumer companies within emerging markets outside of Asia at the Government of Singapore Investment Corporation (GIC). Paul’s career began at PSA Corporation, where he managed and executed IT infrastructure projects specialising in security, network, and systems management.

 

Paul holds a CFA charter and possesses advanced degrees in finance and engineering. He earned a Master of Science in Wealth Management from Singapore Management University and a 1st Class Honours Degree in Electrical Engineering from the National University of Singapore.

 

Yeung Chia Li

Senior Partner

EDBI

Chia Li is a Senior Partner at EDBI, overseeing investments in the Digital Economy, Next-Generation Hardware, Green and Bio-economy sectors. Previously, as Co-Head of Information & Communication Technology (ICT) and Fund-of-Funds (FoF), he spearheaded direct investment strategies for the ICT sector and indirect investments strategies under FoF to grow Singapore’s Deep Tech ecosystem.

 

Chia Li played a vital role in EDBI’s new market expansion covering Southeast Asia, Europe, and new domains like Cybersecurity. Additionally, he was part of the founding team that developed EDBI’s Value Creation strategy and practice, aimed at catalysing portfolio companies’ growth in Asia through Singapore and fostering ecosystem collaboration with government and industry partners.

 

Prior to EDBI, Chia Li spent over a decade in the tech industry, beginning his career at Motorola’s Mobile division, where he specialized in hardware and RF engineering, supporting full product development lifecycle, from design, development, testing to manufacturing, and successfully shipped several products globally.

 

Chia Li holds a Bachelor of Engineering in Electrical and Electronic Engineering (Communication) from Nanyang Technological University and an MBA from the National University of Singapore

EDBI Jolene Ooi

Jolene Ooi PhD

Partner, Healthcare

EDBI

​​Jolene is a Partner at EDBI, where she leads strategic investments in biotechnology and healthcare companies developing next-generation therapeutic modalities and precision medicines. Her portfolio includes innovative firms such as Callio Therapeutics, ElevateBio, Nuevocor, Nuvation Bio, Engine Biosciences, Hummingbird Bioscience, and MiRXES.​​

 

​​Prior to joining EDBI, Jolene was a postdoctoral fellow at the Agency for Science, Technology and Research (A*STAR), where she led efforts to generate a comprehensive stem cell repository to study Huntington Disease using cutting-edge gene editing and cell culture techniques.

​​​Jolene holds a Bachelor of Science (Honours) in Life Sciences from National University of Singapore, and a PhD in Molecular Biology from the Wellcome Trust Sanger Institute, University of Cambridge.

Christine GIAM

Partner, Early-stage and Fund-of-Funds

EDBI

Christine is a Partner at EDBI, focusing on early-stage and fund-of-funds investments. She played a pivotal role in starting and building the New Ventures division at the Singapore Economic Development Board (EDB). As a hands-on investor, Christine enjoys collaborating with founders to shape their product development, go-to-market, and fundraising strategies.

 

With over a decade of multi-industry experience, Christine  previously worked at GIC Private Equity and Advanced MedTech, a leading medical technology company in Southeast Asia, where she gained experience in investment, corporate strategy, and operations. She also held business development, marketing, and sales roles at EDB’s Singapore and London offices, focusing on the healthcare sector. 

 

Christine studied Biomedical Engineering at the National University of Singapore and is an alumna of the NUS Overseas College Program at Stanford University.

Keng Seng Wei

Chief Information Security Officer & Managing Director
DBS

Seng Wei is Group Chief Information Security Officer (CISO) & Managing Director at DBS Group.

 

He leads the enterprise strategy to ensure the protection and resilience of the bank’s information assets and technologies. He spearheads the adoption of innovative cybersecurity technologies at DBS. Under his leadership, DBS became the first bank to introduce the digital soft token for two-factor authentication in digital banking. The bank also achieved significant recognitions, including being the first to obtain Singapore’s Data Protection Trustmark (DPTM), the Cyber Security Agency of Singapore’s Cyber Trust Mark certification at the Advocate tier, and winning the Cyber Security Awards by the Association of Information Security Professionals for three consecutive years.

 

He is a cybersecurity practitioner and an active member of various information security communities. He has served on the Expert Group of the Singapore government’s Public Sector Data Security Review Committee (2019), the cybersecurity working group of the Infocomm Media Development Authority’s (IMDA) Services & Digital Economy technology roadmap, and Enterprise Singapore’s Coordinating Committee for Cybersecurity. Additionally, he chairs the Association of Banks in Singapore’s Cyber Security Standing Committee.

 

Prior to this, he was DBS’ Head of Infrastructure Management & Information Security Services. In this role, he led a team of professionals who provided core technology infrastructure availability and security services across the group.

 

Seng Wei has over 20 years of experience in banking information technology, covering architecture design, engineering, cyber security and technology risk. He holds a Bachelor of Engineering Degree (First Class Honours) in Electrical & Electronics Engineering from the University of Manchester (UMIST).

Howie Lau

Managing Partner, Corporate Development & Partnerships
NCS

Howie is Managing Partner of Corporate Development and Partnerships for NCS Group, with oversight of marketing, communications, partnerships, M&A, Post-Merger, Sustainability, Innovation centres and government relations. He is also responsible for the business in China and Hong Kong. Prior to this, he was the Assistant Chief Executive of Infocomm Media Development Authority of Singapore, a government agency responsible for the technology, telecommunications, and media industries as well as Singapore’s digital economy.

 

He was previously the Head of Consumer business and Chief Marketing Officer at StarHub, and Chief Marketing Officer for Lenovo Emerging Markets and Asia Pacific/Latin America. He serves on a number of boards and advisory committees with a focus on youth development and technology. Howie graduated from National University of Singapore and has a postgraduate MA in Asian Art History from Lasalle College of the Arts and Goldsmiths University of London. He has been recognised as IT leader of the Year 2020 by Singapore Computer Society, and the Philip Kotler marketing excellence award 2018 and NUS outstanding alumni award 2009.

Dr. Prem Nair

Group Chief Executive Officer
IHH Healthcare

Dr Prem Kumar Nair is the Group Chief Executive Officer of IHH Healthcare, where he leads a team of 70,000 employees operating more than 80 hospitals in 10 countries with reputable brands such as Acibadem, Mount Elizabeth, Prince Court, Gleneagles, Fortis, Pantai and Parkway.


Prior to his Group CEO appointment, he was CEO of IHH Singapore, where he oversaw the management of IHH’s business units in the country. Dr Nair is a physician and healthcare executive with over three and a half decades of experience in both public and private healthcare sectors. He was with Raffles Medical Group for 27 years, where he held concurrent roles as Chief Corporate Officer and Managing Director for Singapore Healthcare. He is an Adjunct Associate Professor at the National University of Singapore’s Saw Swee Hock School of Public Health.


An active community citizen, Dr Nair was a recipient of the Public Service Medal (Pingat Bakti Masyarakat) and the Public Service Star (Bintang Bakti Masyarakat) at the 2010 and 2022 National Day Awards respectively. He is also a Justice of the Peace.


Dr Nair graduated with a medical degree from the National University of Singapore, and subsequently a Master of Business Administration (Distinction) from Manchester Business School in the United Kingdom.

Ivan Ng

Chief Technology Officer
City Developments Limited

Ivan Ng is the Chief Technology Officer of City Developments Limited, a global real estate leader operating across 29 countries. He is responsible for Group IT, Digital Platforms, and Technology Risks Governance.

 

With over 25 years of leading both businesses and technology teams, Ivan brings unique insights into the innovative use of technologies to create business value. He was the Asia Managing Director for ServiceNow, where he established their Greater China and Southeast Asia businesses, and Group Chief Technology Officer for Pactera, a Nasdaq-listed IT services company.

 

Ivan serves on the Governing Council of the Singapore Institute of Directors (SID), on the boards of digital companies, and is appointed as a board advisor to national institutions like Singapore Gardens by The Bay, the National University of Singapore, Singapore IT Management Association (ITMA), and Temasek Polytechnic.

 

Currently based in Singapore, Ivan has spent over 15 years working in China, Japan, the US, Indonesia, and Thailand. He was conferred the Outstanding Alumni Award by the National University of Singapore and has been consistently ranked amongst the top 10 technology leaders in ASEAN by IDG.

Benedict Tan

Group Chief Digital Strategy Officer & Chief Data Officer
SingHealth

Mr Benedict Tan is the Group Chief Digital Strategy Officer (GCDSO) and Chief Data Officer (CDO) for Singapore Health Services (SingHealth) cluster.

 

SingHealth is Singapore’s largest healthcare cluster offering a complete range of multi-disciplinary and integrated medical care through a network of four hospitals, five National Specialty Centers and ten Polyclinics. As an Academic Medical Center, SingHealth pursues innovations to transform patient care delivery, and galvanizes the best clinical and research capabilities to discover new and better care for our patients.

 

As GCDSO for SingHealth, Benedict drives SingHealth’s digital strategy and roadmap to enrich the digital experience of patients and staff. His portfolio includes critical functions such as IT delivery and support, cybersecurity, analytics, data management and data governance. He also promotes the effective use of data in a secured manner, to support digitalization efforts as SingHealth’s CDO.

 

Benedict has more than 30 years’ experience in the specialized healthcare-IT industry spanning both private and public institutions including Ministry of Health, National Computer Board, SAP and SingHealth, and many distinct roles and responsibilities such as project manager, business development, product manager and implementation consultant. He has played key leadership roles in the implementation of several large-scale IT and process reengineering projects such as the Civil Service Medical Claims Reengineering initiative, SGH Bed Management and SingHealth Electronic Medical Records (EMR). Benedict has also led IT- enablement projects for many SingHealth facilities such as Academia, National Heart Center Singapore, and polyclinics.

 

Bringing his passion and expertise for Healthtech to the wider community, Benedict also serves on the HIMSS (Healthcare Information and Management Systems Society) board.

Anna Yip

CEO, International Digital Services
SingTel

Anna is a senior business leader with more than a decade of experience leading and scaling business in the technology sector. She has built a track record of driving ‘intrapreneurship’ and successfully building new businesses across markets. A committed people leader, Anna is passionate about mentoring young talent and supporting more women in tech.

 

Currently, Anna serves as the CEO, International Digital Services for Singtel. Under her leadership, Singtel Singapore became one of the first markets to successfully roll out 5G SA nationwide, with robust migration of customers to the latest mobile technology. Singtel continues to play an instrumental role in empowering people-centric digital lifestyles as Singapore advances as a smart nation. She has also been appointed a Board of Commissioner member of Telkomsel in Indonesia since June 1, 2021.

 

Before joining Singtel, Anna was the CEO and Executive Director of Smartone, a leading telecommunications company headquartered in Hong Kong. Under her leadership, Smartone was named the Best Mobile Carrier by the Communication Association of Hong Kong in 2019. In 2017 Smartone launched Birdie Mobile, which has grown to become one of the best-known full digital brands serving the Millennial and tech-savvy market.

 

Prior to her role at Smartone, Anna headed up Mastercard’s operations in Hong Kong and Macau. During her tenure, she launched several new digital products including Contactless, Apple Pay, Android Pay and Masterpass. Previously, she was a global partner with McKinsey & Company where she was a co-leader of the Financial Institutional Group and payments practice in Asia.

 

Anna holds a DPhil (PhD) from University of Oxford and a First-Class Honours degree in Business Administration from the Chinese University of Hong Kong.