Born in 1908, he was the son of prominent Hokkien businessman, Tan Cheng Siong, a General Manager of Oversea-Chinese Bank Ltd. Tan Chin Tuan grew up under the harsh conditions of the Great Depression, having lost his father during his schooling years. Educated at Anglo-Chinese School, he was compelled to leave school at the age of seventeen to begin work at the Chinese Commercial Bank.
Career
Tan served as the managing director of OCBC from 1942 to 1972 and as chairman from 1966 to 1983. Upon his retirement, he was made honorary life president of the bank, the only person ever thus honoured. Tan established his reputation as a sharp corporate banker with a keen eye for spotting opportunities to create value for the bank and its shareholders. His ideas and thinking were instrumental in the building of OCBC bank. Between the mid-1950s to the mid-1970s, he was chairman of ten blue-chip companies. Upon his retirement of these companies, Tan was made their Honorary Life President.
Philanthropist
Tan Chin Tuan was a strong advocate of lifelong learning. In 1984, he donated £350,000 to the Needham Research Institute in Cambridge, United Kingdom and the library block at NRI is named after him. NRI is currently one of the top three centres for learning Chinese science and technology in the world. In 1997, he committed S$2.5 million towards the Nanyang Technological University's exchange programme in engineering. Named the Tan Chin Tuan Exchange Fellowship, it funds research collaborations between NTU and overseas institutes. Tan established the Tan Chin Tuan Foundation on 10 April 1976 to share with society the rewards of his highly illustrious career. He rendered assistance to the deserving and provided services that helped uplift the less fortunate. Today, the contributions of TCTF reflect the founder’s philosophy of how money should be channelled for social good. The foundation strives to support causes and projects that are viable, sustainable and well-managed with definable social outcomes. Today, TCTF continues his commitment towards advancing educational causes through professorships, scholarships and bursaries, and establishing strategic programmes in institutions of higher learning.
