SINGAPORE: Shipping executive Teo Siong Seng has expanded his leave of absence to his roles in the National University of Singapore (NUS) and shipping firm Pacific International Lines (PIL), following accusations in the US of conspiring to restrict the output and fix prices of dry containers. In a statement on Thursday (May 28), Mr Teo also said he does not intend to seek re-election as chairman of the Singapore Business Federation (SBF) when his term ends on Jun 24.It was previously announced that the industry veteran would take a leave of absence from his roles as SBF chairman, member of the Singapore Economic Resilience Taskforce (SERT) and board member at Enterprise Singapore. These will take effect from Jun 1, along with his leave of absence as Pro-Chancellor of NUS.
He has also applied for a leave of absence from his role as executive chairman and director of PIL with effect from Jun 8. "I have proactively decided to take these leaves of absence to afford myself sufficient time to attend to this matter, and for the best interests of the aforementioned organisations," Mr Teo said in the statement. SBF told CNA on May 22 that Mr Teo’s duties as chairman would be assumed by vice-chairman and treasurer Mark Lee.
