SINGAPORE, Aug 14 — The intricacies of safeguarding Singapore’s past reserves are “not easy to understand”, said presidential hopeful Ng Kok Song. And while he reckons...
SINGAPORE, Aug 14 — The intricacies of safeguarding Singapore’s past reserves are “not easy to understand”, said presidential hopeful Ng Kok Song.
He said that other than his independence, having not been part of any political party, he is also well versed in matters related to the past reserves, having worked in the public service for 45 years, first in the Finance Ministry and then the Monetary Authority of Singapore, before becoming the chief investment officer at Singapore’s sovereign wealth fund GIC.
“If you were to understand about the meaning of safeguarding the reserves, you will see that it is not a simple matter,” he said. “He needs to understand the global economy... why such an amount of money is necessary because of the risky environment that the economy is then facing,” he said. “I think Minister Tharman also understands, but it is something which I think other candidates will have to prove, that they have a sufficient grasp of the responsibilities of the job in terms of safeguarding the reserves,” he said.When asked by another clan member why he had decided to run for President, Ng said than other than his desire to safeguard the past reserves, it was also his wish to honour one of Singapore’s founding fathers, Lee Kuan Yew, that compelled him to do so.
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