Hon Sui Sen
Encyclopedia
Hon Sui Sen was born in Penang
in the British Straits Settlements
.
, he was educated at Saint Xavier's Institution. Hon was top-placed in the 1932 Senior Cambridge Certificate Examination. In 1935, he commenced studies at Raffles College, Singapore
, graduating in 1938 with a Class I Diploma in Science.
and Singapore. After the War, Hon remained with the Land Office and by 1957 had become Land Commissioner. In 1960, Hon was attached to the World Bank
for an economic management course, where he met Albert Winsemius
. Dr. Winsemius led the United Nations
Survey Mission to Singapore in late 1960, and was to play a major role in the formulation of Singapore's national economic development strategy.
Hon returned to serve from 1961-1968 as the first Chairman of the Economic Development Board
, or EDB, and then from 1968-1970 as Chairman of the Development Bank of Singapore, or DBS. He was also a council member of the Singapore Institute of Management
from 1965 to 1968. Hon formally retired from the Civil Service in 1965, but his involvement in Singapore's economic development continued unabated. In 1970, Hon succeeded Goh Keng Swee
as Minister of Finance and served in that capacity for 13 years until 1983. In 1982, Hon was named the Economic Minister of the Year by the Euromoney magazine.
As Chairman of the EDB (founded August 1, 1961), Hon played a key role in the implementation of Singapore's industrialization strategy, with the Jurong
Industrial Estate (JIE) as the first major project. Sited on swamplands in the west of Singapore, the JIE soon became the centrepiece of an industrialization program that stretched from garments and toys to petrochemicals and electronics. The first factory in Jurong
, the National Iron and Steel Mill, was opened on August 2, 1963. By 1968, there were about 300 factories employing 21,000 people in Jurong
. In conjunction with the development of the industrial estate, satellite towns were built in the west of Singapore, transforming the Jurong area into a centre of both industrial and residential development.
During his time with DBS, Hon was a supporter of the establishment of the Asian dollar market and thus played a key role in the development of Singapore's financial services industry.
Subsequently as Finance Minister, he established the Bases Economic Conversion Department to oversee the conversion and commercialization of lands and facilities that had been left behind by the British military following their withdrawal in 1968. Hon also played a major role in the development of Singapore's tourism industry, beginning with the transformation of Pulau Blakang Mati, a previously fortified island off the southern coast of Singapore, into a resort destination under the new appellation of Sentosa
Island.
The National University of Singapore
's Business library is named after him. His office is also preserved within the library.
Penang
Penang is a state in Malaysia and the name of its constituent island, located on the northwest coast of Peninsular Malaysia by the Strait of Malacca. It is bordered by Kedah in the north and east, and Perak in the south. Penang is the second smallest Malaysian state in area after Perlis, and the...
in the British Straits Settlements
Straits Settlements
The Straits Settlements were a group of British territories located in Southeast Asia.Originally established in 1826 as part of the territories controlled by the British East India Company, the Straits Settlements came under direct British control as a crown colony on 1 April 1867...
.
Early life
A HakkaHakka people
The Hakka , sometimes Hakka Han, are Han Chinese who speak the Hakka language and have links to the provincial areas of Guangdong, Jiangxi, Guangxi, Sichuan, Hunan and Fujian in China....
, he was educated at Saint Xavier's Institution. Hon was top-placed in the 1932 Senior Cambridge Certificate Examination. In 1935, he commenced studies at Raffles College, Singapore
Singapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
, graduating in 1938 with a Class I Diploma in Science.
Civil service
After graduation, Hon entered the Straits Settlements Civil Service as a Police Court Magistrate. Following this, he assumed responsibilities as a Deputy Collector of Land Revenue prior to the Japanese occupation of MalayaJapanese occupation of Malaya, North Borneo and Sarawak
Throughout much of World War II, British Malaya, North Borneo and Sarawak were under Japanese occupation.The Japanese Empire commenced the Pacific War with the invasion of Kota Bahru in Kelantan on 8 December 1941 at 00:25, about 90 minutes before the Attack on Pearl Harbor in Hawaii at 07:48 on 7...
and Singapore. After the War, Hon remained with the Land Office and by 1957 had become Land Commissioner. In 1960, Hon was attached to the World Bank
World Bank
The World Bank is an international financial institution that provides loans to developing countries for capital programmes.The World Bank's official goal is the reduction of poverty...
for an economic management course, where he met Albert Winsemius
Albert Winsemius
Albert Winsemius , a Dutch economist, was Singapore's long-time economic advisor from 1961 to 1984. He led the United Nations Survey Mission to Singapore, and was to play a major role in the formulation of Singapore's national economic development strategy.In 1960, Dr Winsemius led the United...
. Dr. Winsemius led the United Nations
United Nations
The United Nations is an international organization whose stated aims are facilitating cooperation in international law, international security, economic development, social progress, human rights, and achievement of world peace...
Survey Mission to Singapore in late 1960, and was to play a major role in the formulation of Singapore's national economic development strategy.
Hon returned to serve from 1961-1968 as the first Chairman of the Economic Development Board
Economic Development Board
-Overview:The Economic Development Board is a statutory board of the Government of Singapore that plans and executes strategies to sustain Singapore as a leading global hub for business and investment....
, or EDB, and then from 1968-1970 as Chairman of the Development Bank of Singapore, or DBS. He was also a council member of the Singapore Institute of Management
Singapore Institute of Management
The Singapore Institute of Management is Singapore's largest and most comprehensive provider of private tertiary education and professional training. It was founded by the Singapore Economic Development Board in 1964. SIM offers diploma, undergraduate and postgraduate programmes as well as a...
from 1965 to 1968. Hon formally retired from the Civil Service in 1965, but his involvement in Singapore's economic development continued unabated. In 1970, Hon succeeded Goh Keng Swee
Goh Keng Swee
Goh Keng Swee was the second Deputy Prime Minister of Singapore between 1973 and 1984, and a Member of Parliament for the Kreta Ayer constituency for a quarter of a century. Born in Malacca in the Straits Settlements into a Peranakan family, he came to Singapore at the age of two years...
as Minister of Finance and served in that capacity for 13 years until 1983. In 1982, Hon was named the Economic Minister of the Year by the Euromoney magazine.
As Chairman of the EDB (founded August 1, 1961), Hon played a key role in the implementation of Singapore's industrialization strategy, with the Jurong
Jurong
Jurong is the largest town in the western part of Singapore, consisting of 11 residential precincts, 14 industrial districts, 1 military zone and 1 Waterfront district. It resembles Woodlands, the largest town in the northern part of Singapore, which is smaller in size, has smaller industrial area...
Industrial Estate (JIE) as the first major project. Sited on swamplands in the west of Singapore, the JIE soon became the centrepiece of an industrialization program that stretched from garments and toys to petrochemicals and electronics. The first factory in Jurong
Jurong
Jurong is the largest town in the western part of Singapore, consisting of 11 residential precincts, 14 industrial districts, 1 military zone and 1 Waterfront district. It resembles Woodlands, the largest town in the northern part of Singapore, which is smaller in size, has smaller industrial area...
, the National Iron and Steel Mill, was opened on August 2, 1963. By 1968, there were about 300 factories employing 21,000 people in Jurong
Jurong
Jurong is the largest town in the western part of Singapore, consisting of 11 residential precincts, 14 industrial districts, 1 military zone and 1 Waterfront district. It resembles Woodlands, the largest town in the northern part of Singapore, which is smaller in size, has smaller industrial area...
. In conjunction with the development of the industrial estate, satellite towns were built in the west of Singapore, transforming the Jurong area into a centre of both industrial and residential development.
During his time with DBS, Hon was a supporter of the establishment of the Asian dollar market and thus played a key role in the development of Singapore's financial services industry.
Subsequently as Finance Minister, he established the Bases Economic Conversion Department to oversee the conversion and commercialization of lands and facilities that had been left behind by the British military following their withdrawal in 1968. Hon also played a major role in the development of Singapore's tourism industry, beginning with the transformation of Pulau Blakang Mati, a previously fortified island off the southern coast of Singapore, into a resort destination under the new appellation of Sentosa
Sentosa
Sentosa, which translates to peace and tranquility in Malay , is a popular island resort in Singapore, visited by some five million people a year...
Island.
Death
He died in office as Minister of Finance on October 14, 1983, leaving behind his beloved wife, Annie Hon, and his four daughters (all presently married); Joan (aka Han May), Elizabeth, Vivien, and Brenda.The National University of Singapore
National University of Singapore
The National University of Singapore is Singapore's oldest university. It is the largest university in the country in terms of student enrollment and curriculum offered....
's Business library is named after him. His office is also preserved within the library.