ABOUT US

Fostering Effective Stewardship and Governance Across Asia

 

We, at Stewardship Asia Centre (SAC), are excited to share with you our work and commitment in fostering effective stewardship and corporate governance. Based in Singapore, Stewardship Asia is a thought leadership centre seeking to contribute to institutional capacity building by advocating sound stewardship principles and bringing together leaders for mutual learning and sharing of practical issues facing businesses and organisations today.

 

The Centre collaborates with credible partners globally and works with state-owned enterprises, corporations, family-based businesses, institutional investors as well as non-profit organisations. The Centre promotes and propagates the sharing and mutual learning of concepts and practices that would make a difference to organisations in creating wealth and also contributing to the well-being of the larger community over the long term.

We are committed on this journey with like-minded organisations and leaders to contribute to building businesses that can thrive and grow, and creating the landscape for good stewardship across Asia.

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Our Vision and Mission

Vision

 

To be a reputable thought leadership centre on stewardship and governance in Singapore and across Asia. 

 
 

Mission

 

To promote stewardship and governance, with like-minded partners; in Singapore and across Asia.

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Our People

Board of Directors

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Mr. Hsieh Fu Hua
Chairman


Mr Hsieh Fu Hua is the Chairman of the Board of Trustees of the National University of Singapore (NUS).  Active in the community, he also serves on the boards of a number of non-profit organisations.  He is the President of the National Council of Social Service, chairs the National Gallery Singapore, and is also Chairman-Designate of the National University Health System.

In business, Mr Hsieh is the Chairman of ACR Capital Holdings Pte Ltd and adviser to the Prime Partners Group, which he co-founded.  He is a board director of GIC.

Mr Hsieh started his career in merchant banking and capital markets in 1974 when he joined Morgan Grenfell Asia Holdings upon graduation, eventually rising to head the organisation. He subsequently served as Group Managing Director of BNP Prime Peregrine Group Hong Kong, CEO of Singapore Exchange, President of Temasek Holdings and Chairman of United Overseas Bank.

Mr Hsieh is an alumnus of the NUS Business School.

Mr. Hsieh Fu Hua
Chairman
 
Ms. Chan Wai Ching
Director


Ms. Chan Wai Ching joined Temasek in 2006 and is currently Co-Head, Corporate Development Group and Head, Organisation & People. Ms. Chan oversees the Human Resources function of the firm. She also supports the Remuneration and Nominating Committees of Temasek's portfolio companies with regard to management incentive plans design, non-executive and executive directors compensation, as well as appointments to the boards of these companies.

Ms. Chan's career in human resources spans 28 years and includes appointments at Fullerton Financial Holdings, Citibank N.A., Singapore Technologies, United Overseas Bank and Overseas Union Bank.

Ms. Chan Wai Ching
Director
 
Mr. Simon Israel
Director


Mr. Simon Israel was appointed Chairman of Singapore Telecommunications Ltd. ("SingTel") on 29 July 2011. He has been a Director on the SingTel Board since 4 July 2003. Mr. Israel is also a Director of CapitaLand Ltd., Fonterra Co-operative Group Ltd. and Stewardship Asia Centre Pte. Ltd., and a Member of the Governing Board of Lee Kuan Yew School of Public Policy.

Mr. Israel was an Executive Director and President of Temasek Holdings (Private) Ltd. before retiring in July 2011. Prior to that, he was Chairman, Asia Pacific of the Danone Group. Mr. Israel also held various positions in Sara Lee Corporation before becoming President (Household and Personal Care), Asia Pacific.

Mr. Israel was the former Chairman of Asia Pacific Breweries Ltd., Asia Pacific Breweries Foundation and the Singapore Tourism Board, and former Director of Fraser and Neave Ltd. and Neptune Orient Lines Ltd.

Mr. Israel was conferred Knight in the Legion of Honour by the French government in 2007, and awarded the Public Service Medal in Singapore's 2011 National Day Awards. He holds a Diploma in Business Studies from The University of the South Pacific.

Mr. Simon Israel
Director
 
Mr. Ong Boon Hwee
Chief Executive Officer


Mr Ong Boon Hwee is the CEO of Stewardship Asia Centre (SAC), a Singapore-based thought leadership centre that focuses on promoting stewardship and governance of companies and organisations across Asia. He directs SAC's efforts to develop and propagate a greater understanding of stewardship, a concept that emphasises safeguarding and enhancing an organisation's ability to create economic and societal value over time. He recently co-authored "Inspiring Stewardship", a book on the stewardship influence that business leaders can make to their organisations over time.

Prior to joining Stewardship Asia Centre, Mr Ong has experience working in the corporations as well as in the public sector. He started Beyond Horizon Consulting, a Singapore-based company that focuses on leadership development and strategic planning. He was the COO of Singapore Power (SP), responsible for its Singapore operations and also corporate functions. Before that, he was a Managing Director in Temasek Holdings, responsible for Strategic Relations & Projects, and concurrently the CEO of the Temasek Management Services Group (TMS) managing subsidiaries of diverse businesses including IT, training and logistics. And in his earlier military career, Brigadier-General Ong held key command and staff positions in the Singapore Armed Forces (SAF).

Mr Ong serves as a director on the boards of a number of companies and non-profit organizations. He graduated with First Class Honours in Economics from the National University of Singapore, and holds a Master's Degree in Military Arts & Science from the United States Command & General Staff College.

Mr. Ong Boon Hwee
Chief Executive Officer
 

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FAQs About Stewardship

What is stewardship?

Stewardship is about ensuring that a business can thrive and sustain growth while enhancing the wealth of its stakeholders and the well-being of the societies in which it operates over the long term.

How can organisations benefit from good stewardship?

In a world where the ownership of firms is increasingly fragmented, and investment structures are more and more complex, the time horizons of investors, executives and owners do not always coincide. Stewardship is an inspiring way of managing competing interests to find the right balance between short and long term considerations. It encourages business leaders to shift mindsets, to creatively engage their organisations and other societal actors, and to enhance wealth creation for all.

How does stewardship promote sustainable business practices?

A well-stewarded organisation is focused on not only delivering current performance without compromising future impacts in terms of earnings but also ensuring the continuity of the capabilities and relationships that form the basis of its ability to create future value. Success can, therefore, be measured as the net positive impact on future generations in terms of economic, social and environmental performance. When needed, these organisations are willing to sacrifice short-term profits to secure longer-term benefits for the organisation.

How can stewardship safeguard an organisation's legacy?

One of the hallmarks of well-stewarded companies is that they balance their actions to benefit and sustain not only the present generation but also future ones. This comes from a deeply-held understanding and conviction that casts business leaders as custodians, as stewards. As attached as they are to their organisations, and as much as they desire to guide it onto a path of sustained success, in the grand scheme of things their mandate is only temporary and will one day expire. Therefore, as trusted and responsible stewards, they (owner, board and management) seek to be able to hand over a thriving business and organisation in better shape than what they themselves took over when they assumed their roles to the next generation or to their successors.

Who are some steward leaders in Singapore and Asia?

SAC's first book, "Inspiring Stewardship", cites many steward leaders from around the region. These include:

  • Mr Ratan Tata, who revitalized his family's company and built it into India's leading Tata Group that we know for its social and national economic impact today
  • Mr Jaime Augusto Zobel de Ayala, who inherited control of the Ayala Group, the Philippines' oldest and most influential industrial conglomerate, and committed the company to help build and improve communities
  • Mr Makihara Minoru, who took over Japan's huge Mitsubishi Corporation in 1992 and successfully globalised the company over the next decade
  • And of course in the context of national stewardship, our own late Minister Mentor Lee Kuan Yew, who against the odds transformed Singapore from a third world to a first world economy

How is Stewardship Asia Centre supporting business leaders?

Stewardship Asia Centre is committed to fostering effective stewardship and corporate governance across Asia. The Centre collaborates with credible partners globally and works with state-owned enterprises, corporations, family-based businesses, institutional investors as well as non-profit organisations. Through its forum and knowledge platforms, the Centre promotes and propagates the sharing and mutual learning of concepts and practices that would make a difference to organisations in creating wealth and also contributing to the well-being of the larger community over the long term.