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CCFC Bids Farewell to Outgoing Chairman Mr Tan Kian Chew & Member Mr Yoong Ee Chuan
2024-02-20 05:57:00

CCFC Bids Farewell to Outgoing Chairman Mr Tan Kian Chew & Member Mr Yoong Ee Chuan

CCFC chairman Tan Kian Chew and CCFC member Mr Yoong Ee Chuan to step down with Mr Vernon Khoo of Flagship Ecosystems Investments to take over as chairman; and Ms Sim Hwee Hoon as new incoming member.

By Sng Ler Jun

The Chairman of the Central Co-operative Fund (CCF) Committee Mr Tan Kian Chew will be stepping down from the board from 29 February 2024. 

The Central Co-operative Fund, or CCF, is a fund set up under the Co-operative Societies Act 1979, and is under the purview of the Ministry of Culture, Community and Youth (MCCY). The Minister for MCCY appoints the Committee for the purpose of overseeing the CCF.

Mr Tan had served on the committee for nine years, and as Chairman for the committee for eight years. Under his leadership, CCF has provided financial support to co-operatives in myriad instances, including during the COVID-19 pandemic. He has also overseen the setting up of induction courses for credit co-operatives and was involved in reviewing the CCF Grant Framework to better meet the needs of co-operatives on the ground.

Previously, Mr Tan served as Group Chief Executive Officer at NTUC FairPrice Group.

Ahead of the centennial celebration of the Singapore Co-operative Movement, Mr Tan said: “The Co-operative Movement in Singapore is one of the strongest in the world. It has many success stories and many cooperatives elsewhere would like to learn from us.”

Mr Tan, who was awarded the Public Service Medal in 2023 for his contributions, added: “It is a testimony that with good corporate governance and the strong support of the government, the co-operative movement can do many social good for the people they serve.”  

CCFC committee member Mr Yoong Ee Chuan will also be retiring from the committee after six years of dedicated service. He is also the treasurer for the campus co-operative Ngee Ann Polytechnic Consumer Co-operative Society Limited. In a Facebook post, Minister of State for MCCY Alvin Tan commended: “My thanks also to outgoing CCFC member, Mr Yoong Ee Chuan, whose accounting background and experience improved CCF’s governance and administration.”

The Minister for MCCY has appointed Mr Vernon Khoo, also the Chairman and CEO of Flagship Ecosystems Investments, as CCFC Chairman and NTUC Income’s Board Member Ms Sim Hwee Hoon as a CCFC member for a 3-year term from 1 March 2024.

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Who we are

SNCF is the apex body of Singapore’s Co-operative Movement, and secretariat of the Central Co-operative Fund (CCF). Formed in 1980 with the aim of championing Singapore’s Co-operative Movement, the apex body represents majority of co-operative members in Singapore through its affiliated co-operatives.