Singapore: Tharman Shanmugaratnam, the former Deputy Prime Minister of Singapore, was elected as the President on Friday. He secured an easy victory in the city-state’s first controversial vote for a formal position in over a decade.
Tharman Shanmugaratnam: The New President of Singapore
Following a rare scandal that prompted public scrutiny of the ruling party, Singaporeans turned out to vote, with the veteran leader winning more than two-thirds of the vote over two competitors.
In a speech before the results were announced, the former Finance Minister said, “I believe this is a vote of confidence in Singapore. It’s a vote of hope for the future where we can progress together and support each other as Singaporeans.”
“I am humbled by this vote. It’s not just a vote for me; it’s a vote for Singapore’s future.”
Landslide Victory for Tharman Shanmugaratnam in Controversial Election
He garnered 70.4% of the vote to secure a six-year term in office.
Returning Officer Tan Meng Dui said, “I announce Mr. Tharman Shanmugaratnam as the duly elected candidate for the office of President of Singapore.”
His main rival, Ng Kok Song, a former Chief Investment Officer of Singapore’s Sovereign Wealth Fund GIC, conceded after winning only 15.7% of the vote.
He told reporters, “The result is clear; Tharman Shanmugaratnam has genuinely earned the mandate of the people of Singapore.”
The presidency carries significant responsibilities, overseeing the city’s accumulated financial reserves formally and having the power to veto some initiatives and approve anti-corruption investigations.
While the presidency is a non-partisan role under the constitution, political lines had already been drawn ahead of replacing the outgoing Halimah Yacob, who was elected unopposed for her six-year term in 2017.
Singapore’s Presidential Election Marks a Turning Point
Tharman Shanmugaratnam was widely regarded as the favored candidate for the position, and he resigned from the ruling People’s Action Party (PAP) as a member and as a senior minister in the cabinet ahead of the election because all presidential candidates are required to be independent.
It is believed that the 66-year-old economist has government support, and questions were raised during the campaign about his independence.
The city-state’s government is led by the Prime Minister, currently Lee Hsien Loong, who has been in power since 1959.
Lee said in a statement, “Singaporeans have decisively chosen Mr. Tharman Shanmugaratnam as our next President.”
Observers have speculated that the vote will indicate either continued support for the PAP or dissatisfaction following recent scandals, including investigations into corruption within the transport ministry and resignations of two PAP lawmakers over a case.
Patrick Low, a 70-year-old self-employed worker, said after casting his vote, “We want a prosperous Singapore.”
Another candidate, 75-year-old former insurance executive Tan Kin Lian, had garnered support from several opposition leaders but received only 13.88% of the vote.
Mustafa Izzuddin, a political analyst at consultancy Solaris Strategies Singapore, said, “The presidential election is being viewed as a fast-track to the general election in 2025.”
Voting is mandatory for Singapore’s over 2.7 million eligible citizens. According to the Elections Department, by local time 5:00 PM, more than 2.3 million, or around 85% of eligible voters, had cast their ballots.
The long but orderly queues at polling centers contrasted with the raucous scenes that can accompany elections in other countries, where supporters shout slogans or hand out pamphlets in the final hours.
Izzuddin had expected an increase in protest voting, but despite the calls to change opinions about the ruling party, Tharman Shanmugaratnam secured a resounding victory.
The criteria for presidential candidates in Singapore include either being a senior civil servant or working as a chief executive of a company with at least SGD 500 million (USD 370 million) in equity.
The role of the president is arguably most crucial in serving as the protector of Singapore’s financial reserves, a power that can only be used in extraordinary circumstances, such as the COVID-19 pandemic and the 2009 global financial crisis.