What Does The Economic Society Of S’pore’s Council Do?

Newly elected Sengkang GRC MP Jamus Lim is one of 6 people elected to the Singapore Economic Society board.

Five other new board members were announced, namely – Kent Choi, Team Leader at Credit Suisse, Dean of NTU Business School, Christina Soh, Head of Economics Department at NUS, Professor Satoru Takahashi, Associate Professor at SMU Tan Swee Liang and Head of International Banking Services at Standard Chartered Bank (Singapore) Franky Tanudjojo.

With the announcement of the new 64th council, what is the Singapore Economic Society for and what does the appointment of Jamus Lim and these people as new members mean?

What does the Council do?

The Singapore Economic Society (ESS), formerly the Malayan Economic Society, was established on July 28, 1956, as an initiative of graduates and staff of the Department of Economics at the University of Malaysia in Singapore.

On March 28, 1969, the Company changed its name from Malaysian Economic Society to Singapore Economic Society, in response to the new independent and sovereign status of the Republic.

Image Credit: Facebook

Today, ESS has expanded to include members from academia, government and business.

The Company organizes conferences and networking sessions to foster discussions on current economic issues relating to Singapore and the region.

Board members include private sector economists, representatives of think tanks in the business and financial sectors, and senior academics.

President Euston Quah and DPM Heng Swee Keat in 2017 / Image credit: Facebook

Its honorary fellows include Deputy Prime Minister Heng Swee Keat, Principal Minister Tharman Shanmugaratnam and former Prime Minister Goh Chok Tong.

Professor Euston Quah, head of the NTU’s economics department, continues to lead the company’s 64th board as chairman, a position he has held since 2009.

Image Credit: NTU

Who are the new faces?

Jamus Lim, Associate Professor and Sengkang GRC MP

Jamus Lim Workers Party
Image Credit: WP

In addition to Jamus Lim’s already impressive CV, there is a 36-member board seat at the company’s annual general meeting held on Wednesday July 23.

The associate professor of ESSEC Business School is also part of the 4-member Workers Party team that challenged the Sengkang GRC against the PAP team led by NTUC leader Ng Chee Meng.

The WP won, winning another GRC and Jamus Lim got a seat as an opposition MP.

The economics professor has spoken out on the minimum wage, with the Workers’ Party arguing for a minimum wage of $ 1,300 in its GE 2020 manifesto.

In Singapore, we do not have a national minimum wage. What we have is the Progressive Wage Model (PWM), which is basically the minimum (and more) wage by industry.

Lim argued that 100,000 workers remain below the minimum wage even with the progressive wage model.

Kent Choi, Team Leader at Credit Suisse

Image Credit: Mentors Hub

Kent has worked with Credit Suisse, Bank of Singapore, Global Private Bank of Asia, ABN AMRO Bank.

According to his LinkedIn profile, he is the team leader for the Singapore-Malaysia market “where he is responsible for expanding and developing the growth of his team and his market.”

He was a relationship manager and has had year-over-year success in achieving significant growth in AUM and HNW client revenues across Asia.

Professor Christina Soh, Dean of NTU Business School

Christina Soh right / Image credit: NTU

Christina is known for her work on managing large-scale software package implementation and organizational transformation.

His work has been published in leading journals such as MIS Quarterly, Information Systems Research, European Journal of Information Systems, and others.

She was involved in the design of NTU’s first interdisciplinary undergraduate double degree in Business and Computer Science, the Renaissance Engineering Program, and most recently the business school’s new specialization in Business Analysis.

She was Associate Dean of Undergraduate Business Programs from 2004-2008 and worked with colleagues to transform student recruitment, placement and experience.

She continued to hold the position of Associate Dean assisting the Dean’s Office from 2008 to 2012 and returned as ITOM Head from 2014 to 2017 to lead the division in new directions given the growth digital and analysis.

Internationally, she has served as faculty co-chair or mentor in numerous doctoral consortia and faculty development workshops at International Conferences on Information Systems, the OCIS division of the Academy of Management and the Pacific Conference of Information Systems. She was co-chair of the 2017 ICIS program. She was appointed a member of the Association of Information Systems in 2013.

Professor Satoru Takahashi, Head of the Economics Department of NUS

Image Credit: University of Tsukuba

Takahashi holds a doctorate in economics from Harvard University.

His fields of research are microeconomic theory and game theory and he is currently a professor in the Department of Economics, NUS.

He has been published in journals such as The Econometrica, Japanese Economic Review, and Journal of Economic Theory.

Tan Swee Liang, Associate Professor at SMU

Image Credit: SMU

Tan is Associate Professor of Economics (Practical) at SMU.

His research interests focus on financial sector development, country risk assessment and educational research and development.

She is also Director of the Center for Teaching Excellence at SMU, where she leads a team that engages stakeholders in advancing teaching and learning at SMU, through its various programs such as the Professional Development Program, the Program learning assurance and the educational innovation program.

She has written several cases related to financial sector liberalization, for example on Dunia, a finance company established in the United Arab Emirates during the 2008 global financial crisis, and on the expansion of the State Bank of India into the market of Singapore.

Franky Tanudjojo, Head of International Banking Operations at Standard Chartered Bank (Singapore)

Image Credit: Facebook

Tanudjojo is Managing Director and Head of International Banking Services at Standard Chartered Bank (Singapore).

There isn’t a lot of information on the internet about him, but it looks like he went from managing director to executive at the UK bank.

What do we expect from Jamus Lim and the other members?

According to its website, the job of the SSE is to provide insightful commentary and to engage and educate the public on economic issues. This is important to advance our understanding of Singapore’s challenges and to give credit to economic decisions.

In 2013, then Education Minister Heng Swee Keat said that “ESS will remain a valuable partner in forging a better Singapore in today’s complex operating environment”.

With the election of economics expert Jamus Lim and new members, it could mean they bring fresh blood to a more vigorous debate on economic issues.

Featured Image Credit: Screenshot from Channel 5 / ESS

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Jothi Venkat

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