A former top civil servant, Mr Teo Eng Cheong joined Surbana Jurong in January 2016.
SINGAPORE – Surbana Jurong’s international chief executive officer Teo Eng Cheong has resigned to pursue other interests, said the urban and infrastructure consultancy on Wednesday (Sept 2).
Mr Teo, 54, a former top civil servant, joined Surbana Jurong in January 2016. He is married to Manpower Minister Josephine Teo.
He will leave Surbana Jurong on Sept 30. The company, which is owned by Temasek, Singapore’s investment company, did not say who will succeed him.
Responding to media queries, Surbana Jurong’s group CEO Wong Heang Fine said Mr Teo has been instrumental in driving the company’s business interests in South-east Asia, North Asia and Singapore.
He noted that Mr Teo also helped to set up several of the company’s joint ventures and oversaw its collaboration with China’s Silk Road Fund as a partner to SJ Capital.
In April last year, Surbana Jurong and China’s state-owned Silk Road Fund, which supports the country’s Belt and Road Initiative, inked a co-investment deal to set up a US$500 million (S$681 million) co-investment platform to fund infrastructure projects in South-east Asia.
Mr Wong added: “As Eng Cheong embarks on a new adventure, I would like to thank him for his lasting contributions to Surbana Jurong and wish him the very best.”
Before joining the company, Mr Teo was a senior government official with the apex Singapore Administrative Service and held top positions in several government agencies.
From 2011 to 2015, he was CEO of International Enterprise Singapore, which has since merged with Spring Singapore to form Enterprise Singapore.
He was also CEO of the Competition Commission of Singapore, which is now the Competition and Consumer Commission of Singapore, from 2008 to 2010, and director-general of Singapore Customs from 2004 to 2007.
In May, Mr Teo made headlines after several posts were circulated on social media and messaging platforms like WhatsApp, alleging that Surbana Jurong’s involvement in developing facilities, such as the community care facility at Singapore Expo, had led to conflicts of interest. One such post concerned how he is Mrs Teo’s husband.
The company refuted the allegations, which it called “unfounded accusations of profiteering and corruption”. It also outlined how it got involved in setting up and running the facilities, noting that it has been providing technical services to various government agencies amid the pandemic.
Two men who accused Mr and Mrs Teo of corruption, and received letters of demand from Mrs Teo’s lawyers, subsequently apologised and took down the offending posts.