The ROI of Education: Is a Master's Degree Worth It?

Noel Cornish has extensive international and Australian business management experience.  He is currently Chair of AML3D Ltd and the Hunter Valley Coal Chain Ltd.

Noel’s career spans over 40 years, beginning with a cadetship at BHP Steel in 1969 and culminating in senior leadership roles, including Chief Executive of BlueScope Steel’s Australian and New Zealand steel manufacturing businesses. His leadership extended internationally as President of NorthStar BHP Steel in Ohio, USA and as a Director of Tata BSL Steel Ltd in Maharashtra, India.

Noel’s former roles included Chair of Snowy Hydro Ltd and IMB Bank. His tenure as National President of the Australian Industry Group, representing 60,000 businesses, underscores his national reach and impact on industry policy and development.

In the educational sector, Noel has served as Deputy Chancellor of the University of Wollongong and is currently a member of the University of Newcastle Council and Chair of its Finance and Infrastructure Committee. A proud alumnus, his dedication to tertiary education is further highlighted by his recognition as a Member of the Order of Australia (AM) in 2017 for significant service to business as an advocate for industry policy and development, to tertiary education administration, and to the community.

Professor Zee Upton, a biochemist by training, is the Deputy Vice-Chancellor (Research and Innovation) at the University of Newcastle. Prior to this role she was the Pro Vice-Chancellor of the College of Health, Medicine and Wellbeing.

She is a member of several Boards where she represents the University, including the Hunter Medical Research Institute, TUNRA – The University of Newcastle Research Associates, ResTech (an entity between the University (30%) and Ampcontrol (70%)), DANTIA – Lake Macquarie City’s economic development company, and the Committee for the Hunter.

Prior to joining the University, she spent 6 years in Singapore (2015-2021) where she was the Executive Director of the Skin Research Institute of Singapore (SRIS), a tripartite research initiative between Nanyang Technological University, the National Health Group and the Agency for Science, Technology and Research (A*STAR), as well as the Executive Director of the A*STAR Institute of Medical Biology. In these roles she facilitated extensive collaboration with industry, many via the Wound Care Innovation for the Tropics Industry Alignment Pre-Positioning Program that she also established and led.

Preceding this, Professor Upton spent 15 years at the Queensland University of Technology where she held senior management and leadership positions, as well as established the Wound Management Innovation Cooperative Research Centre, plus formed a start-up that ultimately listed on the Australian Stock Exchange.

Professor Abhishek Singh Bhati is the Pro Vice-Chancellor and CEO at the Newcastle Australia Institute of Higher Education. Previously, Abhishek held Interim Deputy Vice Chancellor and Campus Dean roles at Universities in Australia and Singapore. He obtained his Doctor of Philosophy (PhD) in Business (Tourism Management) from James Cook University and Master of Business Administration in Marketing Management (MBA) from Maastricht School of Management. In addition, he obtained post-graduate learning and teaching qualifications, Graduate Certificate in Education Tertiary Teaching (GCETT) and Diploma in Adult and Continuing Education (DACE).

Abhishek is the Regional Vice-President (SE Asia) of International Tourism Studies Association and makes regular contributions to print media and appearances on TV and radio on tourism-related matters. He serves as a volunteer with Association to Advance Collegiate Schools of Business (AACSB) and mentors Universities in Malaysia and Thailand. He actively participates as a National Environment Agency (NEA) community engagement volunteer and in Purple Parade activities. He is recognised as a Fellow of the Higher Education Academy (FHEA) and graduate of Australian Institute of Company Directors (GAICD). He contributes to corporate governance through his Board Directorship of Singapore based enterprises. He serves as a member of the WIL SIG under Australian Collaborative Education Network (ACEN) and is a member of the Academy of Management, USA.

Abhishek is an active researcher, and his research has been published in a wide variety of reputable publications in the field of tourism and scholarship of learning and teaching. In particular, he is interested in technology and the role it has as a catalyst for tourism industry changes, Low-carbon tourism for future sustainable development, and the need for tourism to deliver United Nations (UN) Sustainable Development Goals (SDGs). His current research interest is tourist behaviour management, resilience planning and scholarship in Teaching and Learning.

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Siew Choi is a seasoned financial services leader with a three-decade long career focused on (re)insurance within the Asia Pacific. Renowned for her innovative strategies and ability to deliver long-term success, she excels in fostering innovation and driving transformative initiatives within tightly regulated landscapes.

With pivotal roles at industry giants, including AXA, AIG, and Swiss Re, Siew Choi brings extensive expertise in portfolio underwriting, risk assessment, pricing, analytics and distribution management. Having worked and resided in Malaysia, Singapore and Thailand, Siew Choi’s leadership transcends borders, guiding culturally diverse teams across ten countries.

Siew Choi continues to shape the industry’s digital evolution as an advisor to insurtechs. Her active involvement on board committees for charities and non-profits, as well as her dedication to mentoring undergraduates, demonstrates her passion to serve the community. Armed with a Master’s degree from Stanford University and an Executive Diploma in Directorship from Singapore Management University (SMU), she is primed to contribute her extensive Asia-focused financial services acumen to the NAIHE board. 

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Dr Chew, a Colombo Plan Scholar, graduated from the University of Newcastle in 1974 with a Bachelor of Engineering degree with Honours Class I and University Medal as well as a Bachelor of Arts degree in Economics. Dr Chew was also awarded a Doctor of Engineering honoris causa by the University in 2003 and is a Patron of the University of Newcastle’s Alumni Chapter Singapore. He is actively involved in the management and boards of several public companies.

Professor Chen completed a Bachelor of Architecture at the University of Newcastle as a Colombo Plan Scholar in 1980, finishing with first class honours and a University Medal. He has subsequently completed a Master of Business Administration, a Master of Architecture and a Doctor of Philosophy at Newcastle. Until 2005, Professor Chen held the position of Professor in the Faculty of Engineering at the University of Newcastle. In recognition of Professor Chen’s 20 years of service to the University of Newcastle, he has been appointed as Patron of the University of Newcastle’s Alumni Chapter Singapore.

Bill Chua has served on local and foreign boards for the past twenty years. He is currently an Independent Director on the boards of IES-INCA Pte Ltd, United Hampshire US REIT Management Pte Ltd, Sunseap Group Pte Ltd, Citibank Singapore Limited, and BoardRoom Executive Services Pte Ltd, and a Managing Partner and Director of Green Sands Equity Inc. Bill retired from United Overseas Bank (UOB) as the Managing Director and Head Global Financial Institution Group in November 2014 after thirty-four years of a successful and distinguished career in the financial services sector. He was awarded the Public Service Medal (PBM) in 2004, and the Public Service Star (BBM) in 2016 by the Government of Singapore.

Bill was a Colombo Plan Scholar. He holds a Bachelor of Arts, and a Bachelor of Engineering Hons Class 1 from the University of Newcastle, Australia. He is a Fellow at the Singapore Institute of Directors, and at the Institution of Engineers, Singapore.

Jaspal Singh started his career with the Singapore Government Administrative Service (1978-2004), serving in the Ministries of Transport, Finance and Trade & Industry and on the Boards of various statutory bodies and Government-linked corporates. Key appointments held include Director of Budget and Deputy Secretary in the Ministries of Finance and Transport. He was awarded the Public Administration Medal (Silver) in 1998 and the Long Service medal in 2003 for 25 years of service.

He received a Colombo Plan scholarship at the University of Newcastle, Australia (1973-77) and completed post-graduate studies (sponsored by the Singapore Government) at Harvard University (MPA, Kennedy School of Government, 1984-85, and AMP, Harvard Business School, Fall 2003).

Jaspal is currently Senior Advisor to SMRT Corporation Ltd and SPH Group. He sits on the Governing Council of the Singapore Institute of Directors and is also Adjunct Senior Research Fellow at the Institute of Policy Studies at the LKY School of Public Policy. He is also the High Commissioner to the Republic of Rwanda for Singapore Ministry of Foreign Affairs.

Dr Tay is currently a Corporate Advisor, engaging in business development and coaching budding business leaders. He serves on the boards of companies involved in food and education and writes on management issues in ‘Asian Meat’, and ‘AgriFood Magazine’, two international food publications. For 17 years, from 1989 to 2006, Dr Tay was the President and CEO of Singapore Food Industries Ltd (SFI), a public listed food distribution and manufacturing company in Singapore. Under his leadership, SFI expanded internationally from its base in Singapore to include operations in the United Kingdom, the Republic of Ireland, China and Australia. During the period from 1992 to 2004, he concurrently held other positions, including Group Coordinator for Human Resource and Group Director (Strategic Development) in Singapore Technologies.

A Colombo Plan Scholar, Dr Tay graduated with Bachelor degrees in both Engineering (Honours) and Economics from the University of Newcastle in Australia. In 1986, he obtained an MSc in Management (Sloan Fellows Program) from the Massachusetts Institute of Technology. He is a Fellow of the Chartered Institute of Management Accountants, United Kingdom, and a Member of the Institution of Engineers, Australia. He was awarded a Doctor of Engineering honoris causa by the University of Newcastle in 2015.

Dr Tan has 33 years of distinguished service in the Singapore Public Service holding various key appointments before completing his term as a Permanent Secretary in 2007. He held various top public leadership positions including as General Manager and Chairman, National Computer Board, Managing Director, Economic Development Board, Chief Executive, Singapore Tourism Board, Permanent Secretary, Ministry of Manpower, Permanent Secretary, Ministry of Information, Communications and the Arts, Chairman National Library Board and Chairman of the Media Development Authority. He played a leading role in the information technology, economic, tourism, manpower, library, media, arts and creative industries development of Singapore.

Dr Tan received a Colombo Plan Scholarship to study at the University of Newcastle and completed a Bachelor of Engineering degree in Industrial Engineering with Honours Class I as well as a Bachelor of Arts degree majoring in Economics. In 1998, Dr Tan was awarded a Doctor of Engineering honoris causa. He had a long and distinguished career in Singapore’s public service holding various key appointments before completing his term as a Permanent Secretary in 2007.

Professor Cheong has played a key role in the urban transformation of Singapore over the years. She was the CEO of the Housing and Development Board (HDB) from 2010 to 2020, overseeing the development and management of over 1 million public housing flats. Prof Cheong was also the CEO of the Urban Redevelopment Authority (URA) from 2004 to 2010, and has extensive experience in strategic land use planning, conservation of built heritage and the real estate market. On 1 January 2021, Prof Cheong was appointed Chairman of the Centre for Liveable Cities under the Ministry of National Development, Singapore. She is also the current Chairman of the Lee Kuan Yew World City Prize Nominating Committee.

A Colombo Plan scholar, Prof Cheong holds a 1st Class Honours degree and University Gold Medal in Architecture and a Doctor of Architecture honoris causa conferred by the University of Newcastle; a Master’s degree in Urban Development Planning from University College London and has completed the Advanced Management Programme in Harvard Business School.

Dr Khaw Boon Wan is a former politician who had served as Minister for Health between 2003 and 2011, Minister for National Development between 2011 and 2015, and Co-ordinating Minister for Infrastructure as well as the Minister for Transport between 2015 and 2020. A member of the governing People’s Action Party (PAP), he was a Member of Parliament representing Tanjong Pagar GRC between 2001 and 2006, and Sembawang GRC between 2006 and 2020. During his political career, he was noted for being appointed to ministerial portfolios which deal with issues such as housing and transport. Following his retirement from politics in 2020, he has become the chairman of SPH Media Trust, a not-for-profit media entity set up by Singapore Press Holdings (SPH) after it underwent a restructuring of its media operations in 2021.

As a Colombo Plan Scholar, Dr Khaw Boon Wan completed a Bachelor of Engineering degree in Industrial Engineering with Honours Class I as well as a Bachelor of Commerce. He was also awarded the University Medal for academic excellence. In 2002, the University presented a Doctor of Engineering honoris causa to Dr Khaw. He is also recognised as a Patron of the University of Newcastle’s Alumni Chapter in Singapore.

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Dr Lee Kwok Cheong, popularly known as KC, retired in 2019 after a 41-year career in IT and education, of which 23 years were in the CEO role.  He has been active in shaping Singapore’s IT, education, and talents development landscape.  He was in charge of the Singapore civil service’s use of IT from 1989 to 1996.  In 1996 he was the founder CEO of NCS Pte Ltd, which grew to be Southeast Asia’s largest IT services provider. In 2005 he joined SIM Pte Ltd as CEO, again growing SIM to be the region’s largest private education provider. In that role, he partnered several leading universities from Australia, UK and US to bring their diploma and degree programs to Singapore, for local as well as international students.

KC was the founding President of the Singapore Association for Private Education, the industry association.  He was the President of the Singapore Computer Society, the IT professional society.

Due to his prominent role in IT and education, KC was invited to be on many of Singapore’s national-level committees in these areas. He has served on the Board of various public and private organisations.

He was Adjunct Faculty at NTU and UniSIM.  He was conferred honorary doctorate by RMIT University, University of London, and University of Stirling. For his public service contributions, he was conferred National Day Medals in 2010 and 2016 by the President of the Republic of Singapore.

Currently, he is on the Board of an education company in Vietnam, an IT services company listed on Singapore Exchange’s main Board, a government-owned gaming operator, a music ensemble, and a mental health charity.

Lee Meng started her legal career in private practice after obtaining her Bachelor of Laws (Honours) degree from the National University of Singapore and after being admitted as an Advocate & Solicitor of the Supreme Court of Singapore.  She was handling real estate legal work in a leading law firm in Singapore before she moved to in-house legal counsel work.

She has extensive experience in corporate matters and legal compliance across different industries. She was Vice President of the Legal & Corporate Secretarial department of the Ascott Group Limited which was then a hospitality company listed on the Singapore Stock Exchange. She was Counsel (Projects)/ Director, Legal & Corporate Secretariat of Singapore Power Limited and had also served as Vice President of the Administration & Governance division of SATS Ltd.

She had worked with the Pre-Professional Education Office of a Singapore restructured hospital, which office coordinates education programmes relating to the clinical training of medical, nursing, allied health and pharmacy students and she holds a Diploma in Early Childhood Care and Education.

Jaspal Singh started his career with the Singapore Government Administrative Service (1978-2004), serving in the Ministries of Transport, Finance and Trade & Industry and on the Boards of various statutory bodies and Government-linked corporates.

Key appointments held include Director of Budget and Deputy Secretary in the Ministries of Finance and Transport. He was awarded the Public Administration Medal (Silver) in 1998 and the Long Service medal in 2003 for 25 years of service.

This was followed by a 14-year stint in the private sector based in London as CEO, ComfortDelGro (UK & Ireland), where he led the growth of ComfortDelGro’s network of bus, coach, taxi, private hire and engineering businesses in England, Wales, Scotland and Ireland. For his corporate accomplishments abroad, he was voted “Outstanding Overseas Executive of the Year, 2017” at the Annual Singapore Business Awards in April 2018.

Jaspal was born into a Sikh family in 1953 in New Delhi, the 5^th child of Gurbachan Singh and Amrit Kaur (refugees from Pakistan in 1947). He grew up in Kuala Lumpur prior to under-graduate studies on a Colombo Plan scholarship at the University of Newcastle, Australia (1973-77) and post-graduate studies (sponsored by the Singapore Government) at Harvard University (MPA, Kennedy School of Government, 1984-85, and AMP, Harvard Business School, Fall 2003).

Jaspal is currently Senior Advisor to SMRT Corporation Ltd and SPH Group. He sits on the Governing Council of the Singapore Institute of Directors and is also Adjunct Senior Research Fellow at the Institute of Policy Studies at the LKY School of Public Policy.

Bill Chua has served on local and foreign boards for the past twenty years. He is currently an Independent Director on the boards of IES-INCA Pte Ltd, United Hampshire US REIT Management Pte Ltd, Sunseap Group Pte Ltd, Citibank Singapore Limited, and BoardRoom Executive Services Pte Ltd, and a Managing Partner and Director of Green Sands Equity Inc. Previously he had served on the boards of Singapore Technologies Electronics Limited, Jurong International, Clearing and Payments Services Pte Ltd, DSO National Laboratories, Defence Science & Technology Agency and Singapore Technologies Kinetics Ltd, and CLS AG.

Bill retired from United Overseas Bank (UOB) as the Managing Director and Head Global Financial Institution Group in November 2014 after thirty-four years of a successful and distinguished career in the financial services sector. He was also on the boards of several affiliates and subsidiaries of UOB. Given his extensive banking experience, and engineering background, he is often called upon to provide the oversight for the Governance, Risk & Compliance functions on the boards he is on, and to advise on business and financial strategies, and issues relating to technology, operations and processes.

Bill is active in the financial, education and social communities. He chaired the sub committees on operations at the Association of Banks in Singapore, and the Singapore Foreign Exchange Markets Committee. He was a member of the Singapore Management University Lee Kong Chian School of Business Advisory Board, a resource member of the Parliamentary Committees for the Ministries of Finance and Trade & Industry, and the Ministries of Foreign Affairs and Defence. He is currently on the Board of Governors at SAFRA National Service Association, and the honorary advisor to the Investment Committee at the Association. He is also currently a member of the Investment Committee at the Singapore University of Technology & Design. He was awarded the Public Service Medal (PBM) in 2004, and the Public Service Star (BBM) in 2016 by the Government of Singapore.

Bill was a Colombo Plan Scholar. He holds a Bachelor of Arts, and a Bachelor of Engineering Hons Class 1 from the University of Newcastle, Australia. He is a Fellow at the Singapore Institute of Directors, and at the Institution of Engineers, Singapore.

Ms Sandra Davie, Senior Education Correspondent of The Straits Times joined the newspaper after teaching English Literature and General Paper at a junior college for a few years. As a young reporter, she covered a range of topics from health to religious cults and education, given her background. She honed her investigative journalism skills further at The Philadelphia Inquirer on a Knight Ridder fellowship. Upon her return she joined a special report team and went on to write many award winning stories on a range of issues. She was made education correspondent in 1998 and has since written extensively on education issues from pre-school to higher education. She has won several in-house awards including Feature of the Year and Story of the Year for her education stories.

Sandra shares her expertise with educators and parents through university boards, school talks and informal meet-up sessions. She fields parents’ queries through the regular Ask Sandra columns, produces video clips to explain schemes and help parents make informed decisions in addition to her regular opinion pieces on education.

Sandra has a BA from the National University of Singapore and a MSc in International Relations from the London School of Economics and Political Science.

Acting Pro Vice-Chancellor and Chief Executive Officer

Professor Julia Connell is currently the Acting Pro Vice Chancellor and CEO at the Newcastle Australia Institute of Higher Education. Previously, Julia held Director, Dean and Assistant Dean roles at Universities in Australia, the UAE and Indonesia. She has published over 100 refereed journal articles/book chapters, co-edited 17 special issue journal volumes and 9 books. Many publications focus on change, people development and, more recently, new technologies. She has consulted for various public and private sector organisations, taught in 11 different countries and lived in 4. Julia just led a team to create and facilitate a Senior Leadership Program for the New South Wales Community Justice Department and will shortly begin a new project researching skills, education and development in Singapore.

T: +65 6992 2368

E: julia.connell@newcastle.edu.au

Chair of the Board

Professor Kent Anderson is an international lawyer who specialises in Asia and the Pacific. He recently returned to the University of Newcastle as Deputy Vice-Chancellor, Global Engagements and Partnership. He has an eclectic background, having completed tertiary studies in US, Japan, and the UK in Law, Politics, Economics and Asian Studies. He also worked as a marketing manager with a US regional airline in Alaska, a commercial lawyer in Hawaii, and most recently senior adviser for higher education to two Commonwealth Ministers of Education.

Within universities, Kent was Interim Deputy Vice-Chancellor (Academic) at Newcastle, Deputy Vice-Chancellor (Engagement) at University of Western Australia, Pro Vice-Chancellor (International) at the University of Adelaide and Dean of the then Faculty of Asian Studies at the Australian National University. He started his academic career as an associate professor at Hokkaido University Law School in Japan. Kent has been on a number of boards, including the National Library of Australia Council, Ministerial Council for International Education, Higher Education Standards Panel, New Colombo Plan Advisory Board, Board of Canberra Grammar School and Shenton College (Perth), and President of the Asian Studies Association of Australia and Japanese Studies Association of Australia.