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Hon Sui Sen

By Mukunthan, Michael written on 17-Apr-1999
National Library Board Singapore

Comments on article: InfopediaTalk

Benedict Hon Sui Sen (b. 16 April 1916, Balik Pulau, Penang, Malaysia - d. 14 October 1983, Singapore) was the Minister of Finance from 1970 to 1983, the first Chairman and President of the Development Bank of Singapore, the first Chairman of Economic Development Board, and Member of Parliament for Havelock constituency. He was one of the pioneers responsible for shaping Singapore's economic development soon after independence.

Early life
Hon received his early education at St. Xavier's Institution in Penang, Malaya, topping the Senior Cambridge examination in 1932. His Catholic education so inspired him that he had intentions of joining the Brotherhood. In 1935, he won a scholarship to Raffles College and made his way to Singapore where he studied the pure sciences. He graduated with a Class 1 diploma in Science in 1938. Married to Annie Voon during World War II at the Sacred Heart Church in Singapore, Hon was an avid reader of a wide range of literature and liked listening to classical music.

Accomplishments
Hon devoted 44 years of his life to Public Service. In 1970, Singapore had only a handful of suitable leaders to guide the infant economy. Dr Goh Keng Swee had been moved to the Ministry of Defence from the Ministry of Finance and Prime Minister Lee Kuan Yew was initially in a quandry as he sought for a suitable replacement until he decided on Hon. Although he had little formal training in economics (his only official exposure being an attachment to the World Bank in 1960) he managed to more than double Singapore's per capita Gross Domestic Product (GDP) from S$2,462 in 1970 to S$5,752 in 1982 and raised Singapore's official reserves six times over.

Among Hon's many roles and accomplishments were establishing Keppel Shipyard and Sembawang Shipyard as competitive, international dockyards in the maritime business. As the first Chairman and President of the Development Bank of Singapore, he is credited for making it the largest commercial bank in the Republic. Most important to Singapore was his role in establishing the Economic Development Board and in working out the master plan for the Jurong's development under the EDB.

Career
1939 : Joined the Civil Service and appointed to the Straits Settlement Civil Service as a Police Courts Magistrate.
1957 : Commissioner of Lands.
1961 - 1968 : Established the Economic Development Board and was its first Chairman.
1968 - 1970 : Chairman and President, Development Bank of Singapore.

He also was the Chairman of nine other companies including National Iron & Steel Mills Ltd, Jurong Shipyard Ltd, Sembawang Shipyard (Pte) Ltd, Keppel Shipyard (Pte) Ltd, Neptune Orient Lines Ltd, Jurong Shipbuilders Ltd, Singapore Electronic & Engineering Ltd, the Insurance Corporation of Singapore Ltd, Singapore Petroleum Company. He also was Director of Intraco.

Politics
1959 : Permanent Secretary in the Ministry of Finance.
11 Aug 1970 - 13 Oct 1983 : Minister of Finance until his death.
1970 - 1983 : Member of Parliament for Havelock constituency.

Awards
1962 : Meritorious Service Medal
1967 : Distinguished Service Medal
1969 : Conferred the nonorary deegree of Doctor of Letters by the University of Singapore.
1982 : Named Economy Minister of the Year by Euromoney magazine.
1984 : Posthumously awarded The Order of Temasek for distinguished service.


Family
Father: Peter Hon Boon Poh, rose from being a corporate accountant to gain wealth in the tin mining industry and began to invest
in rubber and coconut estates until the Depression led to a decline in the family wealth. He then turned to operating cinemas.
Mother: Catherine Loh Soon Yin
Brother : Louis Hon, elder brother
Sisters: Margaret Hon, Theresa Hon (younger sisters), Martha Hon, youngest sister.
Wife: Annie Voon See Chin. They were married soon after the bomb raids of World War II started.
Daughters: Joan Hon, Elizabeth Hon, Vivien Hon and Brenda Hon

He died of a heart attack in October 1983.


Author
Michael Mukunthan



References
Hon, J. (1984). Relatively speaking. Singapore: Times Books International.
(Call no.: RSING 320.95957 HON)