Lee Theng Kiat (Singapore Businessman) - Revision history

Dayana Rizal: /* SingTel Telecommunications Limited (July 2020 - current) */

2020-09-18T06:20:52Z

SingTel Telecommunications Limited (July 2020 - current)

← Older revision		Revision as of 14:20, 18 September 2020
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	====Conflict of interest====		====Conflict of interest====
	Due to Temasek Holdings being the largest controlling shareholder of SingTel and his board positions in both companies, Lee Theng Kiat was named as a Non-executive and Non-independent Director of SingTel.<ref>“[https://www.temasek.com.sg/en/news-and-views/news-room/news/2019/Appointment-of-Lee-Theng-Kiat-as-Director-and-Chairman-Designate-of-Singtel Appointment of Lee Theng Kiat as Director and Chairman-Designate of Singtel]”. ''Temasek.'' December 16, 2019. Accessed on 14 September 2020.</ref> This meant that he would remain a part of SingTel (non-independent) but would not be involved in the company’s daily operations (non-executive), taking on an advisory role instead.<ref>Byrd, Francis. “[https://corpgov.law.harvard.edu/2009/08/15/what-does-a-non-executive-chairman-do-anyway/ What does a non-executive chairman do anyway?]”. ''Harvard Law School Forum on Corporate Governance.'' August 15, 2009. Accessed on 10 September 2020.</ref><ref>“[https://www.sid.org.sg//images/PDFs/Codes/SGP07.pdf Statement of Good Practice]”. ''Singapore Institute of Directors.'' n.d. Accessed on 14 September 2020.</ref> As part of its corporate governance practice, a statement released by Temasek Holdings disclosed that Lee Theng Kiat would be recused from any information by Temasek Holdings regarding SingTel or any other Temasek-affiliated companies.<ref~~>“[https~~://www.temasek.com.sg/en/news-and-views/news-room/news/2019/Appointment-of-Lee-Theng-Kiat-as-Director-and-Chairman-Designate-of-Singtel Appointment of Lee Theng Kiat as Director and Chairman-Designate of Singtel]”. ''Temasek.'' December 16, 2019. Accessed on 14 September 2020.</ref> The practice of recusal would allow Lee to perform his duties in both Temasek Holdings and SingTel without any conflict of interest.		Due to Temasek Holdings being the largest controlling shareholder of SingTel and his board positions in both companies, Lee Theng Kiat was named as a Non-executive and Non-independent Director of SingTel.<ref name=":5">“[https://www.temasek.com.sg/en/news-and-views/news-room/news/2019/Appointment-of-Lee-Theng-Kiat-as-Director-and-Chairman-Designate-of-Singtel Appointment of Lee Theng Kiat as Director and Chairman-Designate of Singtel]”. ''Temasek.'' December 16, 2019. Accessed on 14 September 2020.</ref> This meant that he would remain a part of SingTel (non-independent) but would not be involved in the company’s daily operations (non-executive), taking on an advisory role instead.<ref>Byrd, Francis. “[https://corpgov.law.harvard.edu/2009/08/15/what-does-a-non-executive-chairman-do-anyway/ What does a non-executive chairman do anyway?]”. ''Harvard Law School Forum on Corporate Governance.'' August 15, 2009. Accessed on 10 September 2020.</ref><ref>“[https://www.sid.org.sg//images/PDFs/Codes/SGP07.pdf Statement of Good Practice]”. ''Singapore Institute of Directors.'' n.d. Accessed on 14 September 2020.</ref> As part of its corporate governance practice, a statement released by Temasek Holdings disclosed that Lee Theng Kiat would be recused from any information by Temasek Holdings regarding SingTel or any other Temasek-affiliated companies.<ref name=":5" /> The practice of recusal would allow Lee to perform his duties in both Temasek Holdings and SingTel without any conflict of interest.

	==Board appointments==		==Board appointments==

Dayana Rizal: /* Career */

2020-09-18T06:19:25Z

Career

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	==Career==		==Career==
	Lee Theng Kiat has been appointed to numerous senior positions in several companies in the public sector. Prior to Lee Theng Kiat's leadership role in ST Telemedia, Lee held various senior positions in other companies under the Singapore Technologies Group where he oversaw legal and business development plans.<ref name=":3">“[https://www.temasek.com.sg/en/news-and-views/news-room/news/2019/leadership-succession-at-temasek-international Leadership Succession at Temasek International]”. ''Temasek.'' March 19, 2019. Accessed on 15 September 2020.~~</ref>~~ As of July 2020, he is the Chairman of SingTel Telecommunications Limited as well as the Executive Director and Chairman of Temasek Holdings.		A lawyer by training, Lee Theng Kiat started his career at the Singapore Legal Service. Over the years, he has been appointed to numerous senior management positions in several well-known companies. As of July 2020, he is the Chairman of SingTel Telecommunications Limited as well as the Executive Director and Chairman of Temasek Holdings.

	===Early career ~~- Singapore Legal Service~~===		===Early career===
	Lee Theng Kiat served in the Singapore Legal Service for over eight years before transitioning into the communications and business sectors.<ref name=":2" /><ref name=":3" /> The Singapore Legal Service is an association of lawyers who serve in various government institutions such as the statutory boards and ministries.<ref>“[https://www.psc.gov.sg/Scholarships/public-sector-scholarships/browse-agencies/singapore-legal-service Singapore Legal Service]”. ''Public Service Commission.'' n.d. Accessed on 14 September 2020.</ref> A 1984 news report states that he was the Assistant Registrar of Companies at the time.<ref>Sit Yin Fong. "[https://eresources.nlb.gov.sg/newspapers/Digitised/Article/singmonitor19840314-1.2.5.3?ST=1&AT=filter&DF=&DT=&AO=true&NPT=&L=&CTA=&NID=&CT=&WC=&YR=&k=lee+theng+kiat%26ka%3dlee+theng+kiat&P=3&Display=0&filterS=0&QT=lee,theng,kiat&oref=article Lawyer requests]". ''Singapore Monitor''. March 14, 1984. Accessed on 18 September 2020. Retrieved from NewspaperSG.</ref> He reportedly left the Legal Service in 1985 to join a private firm.<ref>Gandhi Ambalam. "[https://eresources.nlb.gov.sg/newspapers/Digitised/Article/singmonitor19850224-1.2.9.6?ST=1&AT=filter&K=lee%20theng%20kiat&KA=lee%20theng%20kiat&DF=&DT=&Display=0&AO=true&NPT=&L=&CTA=&NID=&CT=&WC=&YR=&QT=lee,theng,kiat&oref=article First directly appointed magistrate resigns]". ''Singapore Monitor''. February 24, 1985. Accessed on 18 September 2020.</ref>		After university, Lee Theng Kiat served in the Singapore Legal Service for over eight years before transitioning into the communications and business sectors.<ref name=":2" /><ref name=":3">“[https://www.temasek.com.sg/en/news-and-views/news-room/news/2019/leadership-succession-at-temasek-international Leadership Succession at Temasek International]”. ''Temasek.'' March 19, 2019. Accessed on 15 September 2020.</ref> The Singapore Legal Service is an association of lawyers who serve in various government institutions such as the statutory boards and ministries.<ref>“[https://www.psc.gov.sg/Scholarships/public-sector-scholarships/browse-agencies/singapore-legal-service Singapore Legal Service]”. ''Public Service Commission.'' n.d. Accessed on 14 September 2020.</ref> A 1984 news report states that he was the Assistant Registrar of Companies at the time.<ref>Sit Yin Fong. "[https://eresources.nlb.gov.sg/newspapers/Digitised/Article/singmonitor19840314-1.2.5.3?ST=1&AT=filter&DF=&DT=&AO=true&NPT=&L=&CTA=&NID=&CT=&WC=&YR=&k=lee+theng+kiat%26ka%3dlee+theng+kiat&P=3&Display=0&filterS=0&QT=lee,theng,kiat&oref=article Lawyer requests]". ''Singapore Monitor''. March 14, 1984. Accessed on 18 September 2020. Retrieved from NewspaperSG.</ref> He reportedly left the Legal Service in 1985 to join a private firm.<ref>Gandhi Ambalam. "[https://eresources.nlb.gov.sg/newspapers/Digitised/Article/singmonitor19850224-1.2.9.6?ST=1&AT=filter&K=lee%20theng%20kiat&KA=lee%20theng%20kiat&DF=&DT=&Display=0&AO=true&NPT=&L=&CTA=&NID=&CT=&WC=&YR=&QT=lee,theng,kiat&oref=article First directly appointed magistrate resigns]". ''Singapore Monitor''. February 24, 1985. Accessed on 18 September 2020.</ref> Prior to Lee Theng Kiat's leadership appointments in ST Telemedia in 1994, Lee held various senior positions in other companies under the Singapore Technologies Group where he oversaw legal and business development plans.<ref name=":3" />

	===Singapore Technologies Telemedia (1994 - 2012)===		===Singapore Technologies Telemedia (1994 - 2012)===

Dayana Rizal: /* Career */

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Career

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2020-09-18T06:10:13Z

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{{Infobox person
| image = Lee Theng Kiat.jpg
| birth_date = 1953
| education = Bachelor of Laws (Honours)
| alma mater = National University of Singapore
}}

Lee Theng Kiat (born 1953) is the current Chairman of Temasek International and SingTel Telecommunications Limited.<ref name=":0">"[https://www.straitstimes.com/business/companies-markets/temasek-international-chairman-lee-theng-kiat-tipped-to-also-helm-singtel Temasek International chairman Lee Theng Kiat tipped to also helm Singtel board]”. ''The Straits Times.'' December 16, 2019. Accessed on 11 September 2020.</ref> A veteran in the business and investment sectors, Lee has held board positions in various companies in Singapore.

== Background ==

=== Education ===
Lee Theng Kiat was a student at National Junior College.<ref>Kwee, Masie. "[https://eresources.nlb.gov.sg/newspapers/Digitised/Article/straitstimes19711123-1.2.59?ST=1&AT=filter&DF=&DT=&AO=true&NPT=&L=&CTA=&NID=&CT=&WC=&YR=&k=lee+theng+kiat%26ka%3dlee+theng+kiat&P=5&Display=0&filterS=0&QT=lee,theng,kiat&oref=article Rat race? It's a great life in college]". ''The Straits Times''. November 23, 1971. Accessed on 18 September 2020.</ref><ref>"[https://eresources.nlb.gov.sg/newspapers/Digitised/Article/newnation19800521-1.2.24?ST=1&AT=filter&K=lee%20theng%20kiat&KA=lee%20theng%20kiat&DF=&DT=&Display=0&AO=true&NPT=&L=&CTA=&NID=&CT=&WC=&YR=&QT=lee,theng,kiat&oref=article NJC alumni target is $20,000]". ''New Nation''. May 21, 1980. Accessed on 18 September 2020. Retrieved from NewspaperSG.</ref> He is also an alumnus of the National University of Singapore (NUS),<ref>"[https://eresources.nlb.gov.sg/newspapers/Digitised/Article/newnation19730406-1.2.34?ST=1&AT=filter&DF=&DT=&AO=true&NPT=&L=&CTA=&NID=&CT=&WC=&YR=&k=lee+theng+kiat%26ka%3dlee+theng+kiat&P=2&Display=0&filterS=0&QT=lee,theng,kiat&oref=article Results of law examination]". ''New Nation''. April 6, 1973. Accessed on 18 September 2020.</ref> where he graduated with a Bachelor of Laws with Honours from the Faculty of Law in 1976.<ref>"[https://eresources.nlb.gov.sg/newspapers/Digitised/Article/newnation19760413-1.2.64?ST=1&AT=filter&DF=&DT=&AO=true&NPT=&L=&CTA=&NID=&CT=&WC=&YR=&k=lee+theng+kiat%26ka%3dlee+theng+kiat&P=6&Display=0&filterS=0&QT=lee,theng,kiat&oref=article Bachelor of laws exam results]". ''New Nation''. April 13, 1976. Accessed on 18 September 2020. Retrieved from NewspaperSG.</ref><ref name=":1">“[https://www.singtel.com/about-us/company/board-of-directors#Lee%20Theng%20Kiat Board of Directors]”. ''Singtel.'' n.d. Accessed on 14 September 2020. </ref><ref name=":2">“[http://telechoice.listedcompany.com/misc/ar2004.pdf One of Mind & Purpose]”. ''TeleChoice International Limited.'' 2004. Accessed on 15 September 2020.</ref>

== Career ==
Lee Theng Kiat has been appointed to numerous senior positions in several companies in the public sector. As of July 2020, he is the Chairman of SingTel Telecommunications Limited as well as the Executive Director and Chairman of Temasek Holdings. Prior to Lee Theng Kiat's leadership role in ST Telemedia, Lee held various senior positions in other companies under the Singapore Technologies Group where he oversaw legal and business development plans.<ref name=":3">“[https://www.temasek.com.sg/en/news-and-views/news-room/news/2019/leadership-succession-at-temasek-international Leadership Succession at Temasek International]”. ''Temasek.'' March 19, 2019. Accessed on 15 September 2020.</ref>

=== Early career - Singapore Legal Service ===
Lee Theng Kiat served in the Singapore Legal Service for over eight years before transitioning into the communications and business sectors.<ref name=":2" /><ref name=":3" /> The Singapore Legal Service is an association of lawyers who serve in various government institutions such as the statutory boards and ministries.<ref>“[https://www.psc.gov.sg/Scholarships/public-sector-scholarships/browse-agencies/singapore-legal-service Singapore Legal Service]”. ''Public Service Commission.'' n.d. Accessed on 14 September 2020.</ref> A 1984 news report states that he was the Assistant Registrar of Companies at the time.<ref>Sit Yin Fong. "[https://eresources.nlb.gov.sg/newspapers/Digitised/Article/singmonitor19840314-1.2.5.3?ST=1&AT=filter&DF=&DT=&AO=true&NPT=&L=&CTA=&NID=&CT=&WC=&YR=&k=lee+theng+kiat%26ka%3dlee+theng+kiat&P=3&Display=0&filterS=0&QT=lee,theng,kiat&oref=article Lawyer requests]". ''Singapore Monitor''. March 14, 1984. Accessed on 18 September 2020. Retrieved from NewspaperSG.</ref> He reportedly left the Legal Service in 1985 to join a private firm.<ref>Gandhi Ambalam. "[https://eresources.nlb.gov.sg/newspapers/Digitised/Article/singmonitor19850224-1.2.9.6?ST=1&AT=filter&K=lee%20theng%20kiat&KA=lee%20theng%20kiat&DF=&DT=&Display=0&AO=true&NPT=&L=&CTA=&NID=&CT=&WC=&YR=&QT=lee,theng,kiat&oref=article First directly appointed magistrate resigns]". ''Singapore Monitor''. February 24, 1985. Accessed on 18 September 2020.</ref>

=== Singapore Technologies Telemedia (1994 - 2012) ===
[[File:Lee Theng Kiat U Mobile.png|thumb|''Lee Theng Kiat in 2010 with U Mobile's Chairman at the time, Tan Sri Vincent Tan. Photo from [https://www.pressreader.com/malaysia/the-star-malaysia/20100316/282355445916374 source].'']]
From 1994 to 2012, Lee Theng Kiat served as the founding President and Chief Executive Officer for Singapore Technologies Telemedia (ST Telemedia), a communications and media investment company.<ref name=":0" /> During his tenure at ST Telemedia, Lee expanded the company’s influence in the Asia Pacific region,<ref>Chan Chao Peh. "[https://eresources.nlb.gov.sg/newspapers/Digitised/Article/today20021216-1.2.2?ST=1&AT=filter&DF=&DT=&AO=true&NPT=&L=&CTA=&NID=&CT=&WC=&YR=&k=lee+theng+kiat%26ka%3dlee+theng+kiat&P=10&Display=0&filterS=0&QT=lee,theng,kiat&oref=article Telco coup]". ''TODAY''. December 16, 2002. Accessed on 18 September 2020.</ref> Europe and America.<ref name=":2" /> In 2010, ST Telemedia invested in U Mobile, reportedly Malaysia's fourth-largest mobile phone operator at the time.<ref>Huang, Jo-Ann. "[https://eresources.nlb.gov.sg/newspapers/Digitised/Article/today20100316-3.2.58.5?ST=1&AT=filter&DF=&DT=&AO=true&NPT=&L=&CTA=&NID=&CT=&WC=&YR=&k=lee+theng+kiat%26ka%3dlee+theng+kiat&P=4&Display=0&filterS=0&QT=lee,theng,kiat&oref=article ST Telemedia invests in Malaysian telco]". ''TODAY''. March 16, 2010. Accessed on 18 September 2020. Retrieved from NewspaperSG.</ref> A year later, Level 3 Communications, a broadband service provider based in the United States, bought Global Crossing, in which ST Telemedia held a 60 per cent stake.<ref>"[https://eresources.nlb.gov.sg/newspapers/Digitised/Article/today20110412-1.2.42.8?ST=1&AT=filter&DF=&DT=&AO=true&NPT=&L=&CTA=&NID=&CT=&WC=&YR=&k=lee+theng+kiat%26ka%3dlee+theng+kiat&P=2&Display=0&filterS=0&QT=lee,theng,kiat&oref=article Level 3 buys Global Crossing for S$3-8b]". ''TODAY''. April 12, 2011. Accessed on 18 September 2020.</ref> ST Telemedia is also the main shareholder of StarHub.<ref>Chan Chao Peh. "[https://eresources.nlb.gov.sg/newspapers/Digitised/Article/today20031002-2.2.5.2?ST=1&AT=filter&DF=&DT=&AO=true&NPT=&L=&CTA=&NID=&CT=&WC=&YR=&k=lee+theng+kiat%26ka%3dlee+theng+kiat&P=2&Display=0&filterS=0&QT=lee,theng,kiat&oref=article M1 not in merger talks with Star Hub]". ''TODAY''. October 2, 2003. Accessed on 18 September 2020.</ref><ref>"[https://www.sttelemedia.com/portfolio/ Portfolio]". ''ST Telemedia''. Accessed on 18 September 2020.</ref>

=== Temasek Holdings (April 2012 - September 2015) ===
[[File:Lee Theng Kiat Temasek Holdings.jpg|thumb|''Lee Theng Kiat (far right) with PM Lee Hsien Loong and his wife, Ho Ching in 2013. Photo from [https://www.nas.gov.sg/archivesonline/photographs/record-details/3de03f4c-b795-11e7-81c8-0050568939ad source].'']]
In April 2012, Lee Theng Kiat was appointed by Temasek Holdings as its General Counsel and President.<ref name=":4">Reuters Staff. “[https://www.reuters.com/article/temasek/temasek-names-st-telemedia-ceo-as-general-counsel-idUSL3E8ET9IA20120329 Temasek names ST Telemedia CEO as general counsel]”. ''Reuters.'' March 30, 2012. Accessed on 14 September 2020.</ref> As the company's General Counsel, Lee acted as an advisor to Temasek’s senior leaders in terms of portfolio and investment decisions.<ref>Tan, Andrea. “[https://www.bloomberg.com/news/articles/2012-03-30/temasek-hires-st-telemedia-s-lee-as-president-general-counsel Temasek Hires ST Telemedia’s Lee as President, General Counsel]”. ''Bloomberg.'' March 30, 2012. Accessed on 14 September 2020.</ref><ref>Amer, John. “[https://www.kornferry.com/insights/articles/general-counsel-senior-leader-more-just-lawyer The General Counsel as senior leader: more than “just a lawyer]”. ''Korn Ferry.'' n.d. Accessed on 14 September 2020.</ref> In September 2015, Lee retired from his roles as the General Counsel and President of Temasek Holdings.<ref>“[https://www.marketscreener.com/quote/stock/SINGAPORE-TELECOMMUNICATI-6491140/news/Singapore-Telecommunications-Announcement-of-Appointment-of-Mr-Lee-Theng-Kiat-29732076/ Singapore Telecommunications : Announcement of Appointment of Mr Lee Theng Kiat]”. ''Market Screener.'' December 16, 2019. Accessed on 14 September 2020.</ref>

=== Temasek International (October 2015 - current) ===
From October 2015 to March 2019, Lee Theng Kiat was the Chief Executive Officer of Temasek International, the management and investment division of Temasek Holdings.<ref name=":0" /> As the CEO, he oversaw the company’s investments and its role as a shareholder and investor in its subsidiaries. In April 2019, Lee took over as the Chairman of the company.<ref>Zannia, Neyla. “[https://www.onlinecitizenasia.com/2019/03/20/dilhan-pillay-succeeds-lee-theng-kiat-as-ceo-of-temasek-international-while-lee-takes-over-role-of-chairman-from-ho-ching/ Dilhan Pillay succeeds Lee Theng Kiat as CEO of Temasek International, while Lee takes over role of Chairman from Ho Ching]”. ''The Online Citizen.'' March 20, 2019. Accessed on 14 September 2020.</ref>

=== SingTel Telecommunications Limited (July 2020 - current) ===
In December 2019, Lee Theng Kiat was announced as the designated Chairman for SingTel and would fully assume the post starting July 2020.<ref>"[https://www.channelnewsasia.com/news/business/singtel-names-lee-theng-kiat-new-chairman-simon-israel-temasek-12187646 Singtel names Lee Theng Kiat as its next chairman]". ''Channel News Asia''. December 16, 2019. Accessed on 18 September 2020.</ref> Besides this post, he is also a Director and the Chairman of SingTel’s finance and investment committee.

==== Conflict of interest ====
Due to Temasek Holdings being the largest controlling shareholder of SingTel and his board positions in both companies, Lee Theng Kiat was named as a Non-executive and Non-independent Director of SingTel.<ref>“[https://www.temasek.com.sg/en/news-and-views/news-room/news/2019/Appointment-of-Lee-Theng-Kiat-as-Director-and-Chairman-Designate-of-Singtel Appointment of Lee Theng Kiat as Director and Chairman-Designate of Singtel]”. ''Temasek.'' December 16, 2019. Accessed on 14 September 2020.</ref> This meant that he would remain a part of SingTel (non-independent) but would not be involved in the company’s daily operations (non-executive), taking on an advisory role instead.<ref>Byrd, Francis. “[https://corpgov.law.harvard.edu/2009/08/15/what-does-a-non-executive-chairman-do-anyway/ What does a non-executive chairman do anyway?]”. ''Harvard Law School Forum on Corporate Governance.'' August 15, 2009. Accessed on 10 September 2020.</ref><ref>“[https://www.sid.org.sg//images/PDFs/Codes/SGP07.pdf Statement of Good Practice]”. ''Singapore Institute of Directors.'' n.d. Accessed on 14 September 2020.</ref> As part of its corporate governance practice, a statement released by Temasek Holdings disclosed that Lee Theng Kiat would be recused from any information by Temasek Holdings regarding SingTel or any other Temasek-affiliated companies.<ref>“[https://www.temasek.com.sg/en/news-and-views/news-room/news/2019/Appointment-of-Lee-Theng-Kiat-as-Director-and-Chairman-Designate-of-Singtel Appointment of Lee Theng Kiat as Director and Chairman-Designate of Singtel]”. ''Temasek.'' December 16, 2019. Accessed on 14 September 2020.</ref> The practice of recusal would allow Lee to perform his duties in both Temasek Holdings and SingTel without any conflict of interest.

== Board appointments ==
The following is a list of board appointments that Lee Theng Kiat has held over the years.
{| class="wikitable"
!Year(s)
!Organisation
!Position
!Refs.
|-
| rowspan="6" |2020 - current
| rowspan="6" |SingTel Communications Limited
|Chairman
| rowspan="6" |<ref name=":1" />
|-
|Chairman (Finance & investment committee)
|-
|Director
|-
|Member (Corporate governance & nominations committee)
|-
|Member (Executive resource & compensations committee)
|-
|Member (Optus Advisory committee)
|-
|2019 - current
| rowspan="2" |Temasek International
|Chairman
| rowspan="2" |<ref name=":0" />
|-
|2015 - 2019
|Chief Executive Officer
|-
|2012 - current
| rowspan="3" |Temasek Holdings
|Director
|<ref>“[https://www.temasek.com.sg/en/who-we-are/our-leadership#management-lee-theng-kiat Our Leadership]”. ''Temasek.'' n.d. Accessed on 14 September 2020.</ref>
|-
| rowspan="2" |2012 - 2015
|General Counsel
| rowspan="2" |<ref name=":4" />
|-
|President
|-
| rowspan="2" |1994 - 2012
| rowspan="2" |ST Telemedia
|President
| rowspan="2" |<ref name=":0" />
|-
|Chief Executive Officer
|}

== References/ Citations ==
[[Category:People of Interest]]