Mark Lee takes over Singapore Business Federation for 2026-2028
What's new: Lee replaces Teo Siong Seng after Teo stepped aside when US prosecutors accused him in a container price-fixing case.
Mark Lee has been elected chairman of the Singapore Business Federation, succeeding Teo Siong Seng for a two-year term running from 2026 to 2028. Lee, chief executive of Sing Lun Holdings, was chosen by the newly formed SBF council at the federation’s annual general meeting on Wednesday. He had recently been carrying out the chairman’s duties after Teo took a leave of absence in May. Teo stepped back after US authorities accused him of joining a cartel to fix prices for dry shipping containers, and he later said he would not seek re-election. Lee, who previously served as SBF vice-chairman and treasurer, said the federation will focus on helping businesses stay competitive, resilient and ready for changes including AI, geopolitical tensions and shifting trade patterns.