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Breaking news: George Yeo opts out of Presidential Race

Former Minister for Foreign Affairs George Yeo has announced that he will not be running for the Presidential Elections likely to be held this August.

In his latest Facebook entry, Mr Yeo said that: "After considering all factors, I have come to the conclusion that, in this phase of my life, I can better contribute to the Singapore we all love in other ways.  I have therefore decided not to run for the Presidency this August."

Adding that it is not a decision that he takes lightly, Mr Yeo wrote that he will continue to work with Singaporeans to make Singapore a home rich in memories and full of hope for the future.

Last week, a group of 15 representatives aged between 16 and 41 were seen at the Elections Department collecting eligibility forms for Mr Yeo, raising hopes among his supporters that he will be standing for the upcoming Presidential Elections.

Mr Yeo's Facebook announcement drew more than 180 responses within minutes after it was posted.