Appreciation Dinner for Mr Alex Foong

Appreciation Dinner for Mr Alex Foong

LIAM hosted an appreciation dinner on 22 February 2008 for Mr Alex Foong who has retired as the CEO of Great Eastern Life Assurance (Malaysia) Berhad in January 2008.

Among the guests present were LIAM Past Presidents and Vice-Presidents which included YBhg Datuk L. Meyyappan, Captain K. H. Chia, Encik Ezamshah Ismail and Mr Ng Keng Hooi as well as CEOs and senior managers of?LIAM member companies.

Mr Ng Lian Lu, President of LIAM, expressed his highest respect for Mr Foong's commitment and contribution to the industry in his speech.

"Alex has contributed his untiring efforts to the development and advancement of the industry for the past 31 years. He is the longest serving CEO in the industry and also the longest serving member of the Management Committee of LIAM," he highlighted.

Mr Foong was the President of LIAM from 1993 to 1996. One of the most challenging tasks during his term in office was the introduction of the Operating Costs Control Guidelines.

During the Budget Dialogue in October 1993, Mr Foong led the task force team to appeal for an increase in tax relief for contribution to approved retirement funds and life insurance premiums. His effort was rewarded as the tax relief was increased from RM3,500 to RM5,000 in the following year.

In addition, Mr Foong was also a member of the team behind the formation of Malaysian Life Reinsurance Group Berhad.

As a member of the Management Committee of LIAM, Mr Foong served as Chairman of several committees including the Technical Committee, Administration and Finance Committee, Investment Committee and Regulation/Enforcement (Disciplinary) Committee.