SINGAPORE — Managing director of the Monetary Authority of Singapore (MAS), Mr Ravi Menon, will retire on Jan 1, 2024, after serving 36 years in the public service.

The 59-year-old started his career at MAS in 1987, the Public Service Division (PSD) said on Monday (Sept 4). 

He was awarded the Public Administration Medal (Gold) in 2007 and the Meritorious Service Medal in 2017 for his outstanding contributions to the Public Service. 

MAS had earlier in May announced the reappointment of Mr Menon as MAS chief for another two-year term. 

It said then that he would serve until May 2025 or his retirement from the Singapore Public Service, whichever is earlier. 

Mr Menon will be replaced by Mr Chia Der Jiun, said PSD.

Mr Chia will be appointed as Managing Director (designate) of MAS on Nov 1 this year and as managing director of MAS with effect from Jan 1.

He will relinquish his appointment as Permanent Secretary (Development) of the Ministry of Manpower (MOM) on the same day, said PSD.

OTHER RETIREMENTS

PSD also announced that two other senior public service leaders will retire after many decades of “distinguished service”.

Ms Chan Lai Fung, Permanent Secretary of National Research and Development and Public Sector Science and Technology Policy and Plans Office, Prime Minister’s Office and Chairman of the Agency for Science, Technology and Research (A*STAR), will retire on Oct 1 this year after 36 years in the public service. 

Mr Loh Khum Yean, Permanent Secretary of the Public Service Division under the Prime Minister’s Office will also retire on Oct 1 this year after 33 years in the Public Service. 
    
Thanking the retiring senior leaders, Minister-in-charge of the Public Service, Mr Chan Chun Sing, said: “I would like to express my gratitude to Ravi, Lai Fung and Khum Yean for their excellent leadership and many significant contributions to the Public Service and to Singapore. They have served with excellence in a wide range of sectors over many decades of dedicated service.” CNA