SIA chairman to step down

SIA chairman to step down

SINGAPORE: Koh Boon Hwee will be stepping down as chairman and
director of Singapore Airlines (SIA) at the end of the year to
take over as chairman of DBS Group Holdings, Southeast Asia's
largest bank, the companies announced on Wednesday.

Stephen Lee Ching Yen, a former chairman of PSA International,
will be proposed to the board to follow Koh as SIA chairman on
Jan. 1 as part of the shakeup at two of the city-state's major
companies.

Former cabinet minister S. Dhanabalan will relinquish his DBS
chairmanship at the end of 2005 to devote more time to his
chairmanship of Temasek Holdings Ptd Ltd, the government-owned
investment company, DBS said.

Dhanabalan joined DBS in 1993 after retiring from 13 years in
the cabinet.

Koh, previously chairman at Singapore Telecommunications,
joined the SIA board in March 2001 and became chairman in July
2001.

Under Koh, "SIA maintained its loss-free record despite very
adverse operating conditions," the flag carrier said.

SIA achieved record profits close to S$1.4 billion (US$833
million) in the last financial year of 2004-2005. -- DPA