A few days ago, it was unveiled that former GIC Chief Investment Officer Peter Ng Kok Song might be considering a run for the Presidential Election 2023.
Might.
Responding to queries from The Straits Times on Saturday (15 July), Mr Ng had said that it is an issue of great national importance, and there will be immense personal implications, so he is “still deliberating.”
Confirmed: Peter Ng Kok Song is Also Running for President in the Presidential Election 2023
Earlier today (19 July 2023), however, it was officially confirmed:
Peter Ng Kok Song will be contesting the Presidential Election in 2023.
He announced his intention this morning when he turned up at the Elections Department alongside his fiancee Sybil Lau, 45 years old, and his three children.
The 75-year-old, who will become the third presidential hopeful in this political-style Royal Rumble match, stated that his decision comes from concerns regarding the integrity of the nation’s institutions.
He said that only an independent figure free of political connections could protect it.
The former GIC Chief Investment Officer is not the only independent candidate. The second presidential hopeful, businessman George Goh Ching Wah, is also free of political ties.
At the same time, Mr Ng hopes his decision will serve as a prime example to the younger audience; and will consequently spur more good people to come forward, whether it’s for the government or the opposition.
In his own words, a good opposition would make a good government even better.
Mr Ng’s family has since publicised their full support for him, despite initial “surprise” at the move. His fiancee Ms Lau has also lauded his intention, stating that he is contesting the presidency to “serve the people of Singapore.”
Meanwhile, a long-time friend of Mr Ng’s has praised his qualities, stating that he has a “heart of gold” and that he has all the qualifications needed for the post.
Third Presidential Hopeful
Peter Ng Kok Song is the third presidential hopeful and the second independent candidate.
The first, former Senior Minister Tharman Shanmugaratnam, unveiled his intention on 8 June 2023.
The second, businessman George Goh, announced his bid on 12 June 2023. Mr Goh is also the first independent candidate to enter the presidential race.
Earlier in May, current President Halimah Yacob, whose presidential term ends on 13 September 2023, declared that she would not seek re-election.
The application period for the Presidential Election will end five days after the Writ of Election is issued.
Mr Ng embarked on his journey in the public service in 1970 as an investment analyst with the Finance Ministry, having graduated from the University of Singapore (now known as National University of Singapore (NUS)) with a physics degree.
The Public Service Commission scholarship recipient then moved to the Monetary Authority of Singapore a year later when it was formed.
In 1986, Mr Ng moved to GIC to head the equities and bonds department. He was the fund’s first non-expatriate director.
In 2007, he climbed up the ladder to become GIC’s first group chief investment officer, a position he held till his retirement in 2013.
The current CIO is Dr Jeffrey Jaensubhakij.
But that’s not all. Mr Ng also founded the Singapore International Monetary Exchange in 1984 and served as its chairman until 1987. It was later incorporated into the Singapore Exchange as its derivatives arm.
Mr Ng currently serves as the executive chairman of Avanda Investment Management.
Given his working experience at the MAS and GIC, Mr Ng has faced perceptions linking him to the establishment.
He has, however, denied any political ties, stating that he has been free of political influence all his life.
He’s independent, he said.