He will be succeeded by current Deputy Chairman, Mr Wee Ee Chao, Chairman and Managing Director of UOB Kay Hian Holdings Ltd and Director of Kheng Leong Co. Pte Ltd, who officially takes over the Chairmanship of STB on 1 January 2002.

Mr Cheng’s vision of Singapore as a world-class destination has shaped the strategic direction of STB and the tourism industry over the last nine years. He oversaw major developments such as the formulation of the Tourism 21 (T21) masterplan in 1996 and STB’s new corporate image in 1997.

Mr Cheng has steered STB through crises like the haze in 1997 and the Asian economic slowdown of 1998. Most recently, he announced a S$13 million assistance package to help the industry tide over the current economic downturn.

Under his capable leadership, STB and Singapore have won many awards over the past few years, including Best Business City in the World 2001 (Business Traveller UK, Business Traveller Asia Pacific and Time magazine), Top Innovator award (National Tourist Organisation category), Destination of the Year, TTG Asia 2001, Best Marketing Effort – Overall, by PATA/Travel Weekly East, Best NTO, TTG Asia 2000 and 1999 and Travel Asia Breakthrough Awards 2000.

Mr Wee Ee Chao will bring extensive experience to STB, and will work with key industry partners to identify new opportunities to fully achieve Singapore’s potential as a tourism capital.