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SINGAPORE – He joined the race to be Singapore’s next president so that he can safeguard the country’s reserves and allow people to exercise their right to vote, said presidential hopeful Ng Kok Song.
Speaking to the media at Kovan 209 Market and Food Centre on Saturday afternoon, the former chief investment officer at GIC drew upon how his 45-year career at the Monetary Authority of Singapore (MAS) and GIC had allowed him to build up the nation’s reserves and gain domain expertise in investment.
“I do not want to see our financial reserves being squandered,” he said. “The reserves will be spent in no time if we have a bad government, and if there is no president to check the government. So, I have a very deep personal interest.
“Now, if the day arrives when a bad government wants to use our past reserves, I will know how to say no. I understand the international economic environment… how the Singapore economy will be very badly affected (and) to what extent if there is a crisis.”
Mr Ng, 75, added that he did not throw his hat in the ring for power, fame or money.
He decided to enter the race because he was worried there would be a walkover, with former senior minister Tharman Shanmugaratnam being elected if entrepreneur George Goh did not qualify.
Mr Ng announced his bid on July 19 about a month after Mr Tharman, 66, and Mr Goh, 63, stepped forward. At the time, former NTUC Income chief executive Tan Kin Lian had not signed up.
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