Opinion
A scrutiny of Ng Kok Song’s self-professed independence in the upcoming presidential race
Opinion: Despite president aspirant Ng Kok Song’s assertions of his independence, his ties to PAP-linked entities and overlaps with former Senior Minister Tharman Shanmugaratnam’s career cast doubts on his political neutrality. Is his candidacy a sincere bid or a strategic move to prevent a shameful walkover?
The announcement of 75-year-old Ng Kok Song’s candidacy has stirred up the upcoming Presidential election.
Ng, best known for his role as Chief Investment Officer at the Singaporean sovereign wealth fund, GIC, has been a somewhat unknown figure to the wider public.
His sudden emergence in politics has triggered waves of questions and speculation among Singaporeans who had little knowledge of him until recently.
Ng claims that his bid is inspired by a desire to prevent an election walkover, which, on the surface, seems plausible.
However, when considering Singapore’s political history, this begins to hint at a more intricate strategy in play.
The last presidential election in 2017 saw the People’s Action Party’s (PAP) candidate, Madam Halimah Yacob, win unopposed in the first reserved election after two potential candidates were disqualified under the stringent private candidate criteria of S$500 million shareholders equity. This caused a significant public backlash.
Ng’s bid could potentially be a strategic move aimed at avoiding a repeat of such controversy amid the recent blows to PAP’s public image due to exposed and emerging scandals in Singapore.
Adding intrigue to this puzzle is a Facebook post by Madam Ho Ching, former CEO of Temasek Holdings and spouse of Prime Minister Lee Hsien Loong.
In her post, she lauded both Ng and the PAP’s favoured candidate, former Senior Minister Tharman Shanmugaratnam, but conspicuously omitted George Goh, another contender who had announced his candidacy before Ng.
Mdm Ho’s calculated silence on Goh, combined with Ng’s declaration that he is “standing so that you can choose your president,” seems to lend weight to the theory that Ng’s run is more of a tactical move rather than a sincere bid.
When asked by the media about his independence, Ng replied, “I believe we are who we are. Our present is intrinsically linked to our past, and we cannot easily separate the two.”
Ng has continually emphasized his lack of political affiliations, asserting that Singapore needs a president who is “independent of any political party to safeguard the integrity of our institutions.”
Despite Ng having never been involved directly in politics, he has been close to the PAP politicians for 27 years in GIC.
A deep dive into his professional history also reveals significant overlaps with Tharman’s career. Specifically, Tharman’s 12-year tenure as Chairman of the Monetary Authority of Singapore (MAS) from 1 May 2011 to 7 July 2023 is noteworthy. MAS is an entity that owns GIC, where Ng served extensively before his retirement in 2013.
Moreover, given that Ng’s Avanda Investment Management received a staggering US$3 billion (S$4.05 billion) from Temasek Holdings — overseen by Mdm Ho as CEO at that time — in 2016, Ng’s claims of independence can certainly be called into question.
While Ng’s company may not meet the criteria, just like Goh’s, the role of the Presidential Election Committee (PEC) could be crucial.
Similar to the 2011 Presidential Election, in which the PEC permitted Tan Jee Say to run despite his not meeting all eligibility criteria outright—thus enabling a four-cornered contest and allowing PAP’s Tony Tan to edge out Tan Cheng Bock by just 0.35 per cent—the PEC may exercise its discretionary power to qualify Ng, while simultaneously disqualifying Goh. This could pave the way for a straight fight between Ng and Tharman.
The suspected orchestration behind Ng’s sudden bid for the presidency gains credibility when considering the series of events leading up to Madam Halimah’s presidency.
Mdm Halimah’s intention to run for the 2017 Presidential Election was announced only on 6 August 2017, well after Minister Chan Chun Sing referred to the former Speaker of Parliament as “Mdm President” twice during a parliamentary debate on 6 February 2017.
As Tharman had recently done, she resigned from PAP to stand for the presidential election just before the writ of election was issued.
This sequence of events suggests a predetermined strategy to ensure a specific outcome.
Perhaps the reason PAP is so apprehensive about a genuine contest for the presidency between two candidates is rooted in the result of the first presidential election. Despite competing against a reluctant candidate, the late Chua Kim Yeow, who neither conducted any walkabouts nor held news conferences or rallies, the late Ong Teng Cheong only secured a 58% victory.
Late J. B. Jeyaretnam, who intended to run, was disqualified owing to a conviction for falsifying his former political party’s funds. It’s also worth noting that Tharman, despite contesting a lesser charge of negligence, was nonetheless convicted alongside others in March 1994. This, however, will likely not pose an issue for the PEC to issue him a certificate of eligibility.
In conclusion, Ng Kok Song’s presidential bid may not be the selfless act of service it is presented as. The timing and details hint at it being part of a carefully crafted strategy to ensure a smooth path for PAP’s preferred candidate.
However, as the PAP has experienced over the past few months, things may not always turn out as planned – much like its intended strategy to hold an early general election this year.
A thought that voters should perhaps bear in mind is what Chua said in his second televised speech, “In Singapore, as you know, the PAP dominates the government and dominates the legislature…Do you want the PAP to dominate the presidency as well?”
Opinion
Iswaran unlikely to serve full 12-month sentence under conditional remission and possibly home detention
Former Transport Minister S Iswaran is unlikely to serve the full 12 months of his sentence. Under Singapore’s Conditional Remission System, he could leave prison after serving less than eight months, with the remainder of his sentence served under strict supervision, including home detention. While Iswaran is scheduled to surrender on 7 October 2024, there is a possibility of an appeal.
Former Transport Minister Iswaran was sentenced to 12 months in prison on 3 October 2024 for accepting valuable gifts while in public office and obstructing the course of justice.
The court granted Iswaran’s request to surrender himself at 4 p.m. on 7 October 2024 to begin his sentence. However, his lead lawyer, Davinder Singh, indicated that the start of the sentence could be delayed depending on “instructions,” hinting at the possibility of an appeal.
However, despite the 12-month sentence, it is highly likely that Iswaran will serve less time in prison due to Singapore’s Conditional Remission System (CRS) and potentially the Home Detention Scheme (HDS).
Under the CRS, prisoners in Singapore may be released early if they demonstrate good behaviour.
Typically, under the CRS, inmates are eligible for release after serving two-thirds of their sentence. In Iswaran’s case, this means he could be released after serving eight months in prison, with the remaining four months of his sentence subject to a Conditional Remission Order (CRO).
The CRO, a legal mechanism that enforces strict conditions post-release, requires compliance with several terms, such as reporting to authorities and avoiding any criminal activity. If Iswaran violates these conditions, he could face penalties, including being sent back to prison to serve the remainder of his sentence.
Alongside CRS, there is also the possibility that Iswaran could serve part of his sentence under the Home Detention Scheme (HDS), which allows prisoners to serve their final months under strict supervision at home.
Take the case of former Singapore Civil Defence Force (SCDF) Chief Peter Lim Sin Pang, for example.
Lim was sentenced to six months in prison in 2013 for corruption.
After serving three months in Changi Prison, he was supposedly placed on home detention for one month — if we consider how CRO grants him two months of remission — allowing him to complete his sentence under supervision.
Home detention meant that Lim would spend his remaining sentence at home under electronic monitoring, fitted with an electronic monitoring device, typically worn as an ankle bracelet, which allows authorities to track his location at all times.
Like other inmates under the HDS, his movements were tightly controlled, and he was allowed out only for specific activities, such as attending work, medical appointments, or rehabilitation programmes, during limited hours.
Any deviation from the permitted activities or failure to return home on time could lead to immediate consequences, including being returned to prison to complete the sentence.
Eligibility for home detention depends on various factors, such as the inmate’s behaviour during incarceration and the level of risk they pose to society.
This scheme aims to reintegrate prisoners into society while maintaining strict oversight.
If HDS is applicable, Iswaran might spend even less time behind bars, as he could transition to home detention before completing the full period under the CRS.
Opinion
Why the silence by Minister Shanmugam on his S$88 million property sale?
Despite being quick to rebut allegations, Minister K Shanmugam has remained silent on the S$88 million sale of his Good Class Bungalow (GCB) in August 2023. The lack of public commentary, especially given the potential conflict of interest with the Singapore Land Authority’s role, raises questions.
When it comes to addressing allegations, Minister for Home Affairs and Law, K Shanmugam, has shown he can respond swiftly and decisively, as seen in his and Dr Vivian Balakrishnan’s rapid legal actions against Mr Lee Hsien Yang (LHY) for defamation, as well as their recent rebuttal to LHY’s statement regarding the defamation costs paid to the two ministers.
However, the stark contrast in how Mr. Shanmugam has handled recent revelations about his own financial dealings, and his silence regarding the S$88 million sale of a Good Class Bungalow (GCB), is puzzling and raises concerns about transparency and potential conflicts of interest.
TOC had earlier disclosed that Mr Shanmugam sold his GCB at 6 Astrid Hill for a staggering S$88 million in August 2023.
The sale was to UBS Trustees (Singapore) Ltd, a transaction managed by legal professionals from his former law firm and concluded without any encumbrances like a mortgage. This deal turned a home bought for S$7.95 million into an S$88 million sale—garnering a massive profit.
This sale was made just a month after he made his ministerial statement explaining the circumstances of his leasing of the massive black-and-white bungalow estate at 26 Ridout Road from the Singapore Land Authority (SLA), a statutory board that he oversees as the Minister for Law.
This transaction, particularly the identity of the buyer and the approval process for such a high-value sale, is of public interest because GCBs are subject to stringent sale conditions.
They are generally only sold to Singaporeans or approved Permanent Residents who have made significant economic contributions to Singapore. The approval for such transactions typically comes from the SLA.
This raises an inherent question: Why has Mr Shanmugam not addressed the public regarding this substantial financial transaction, especially when such approvals could potentially involve his direct oversight? We have written to him for his comments but were met with silence.
We do not know who the actual beneficiaries of the property are, as it was sold to ‘The Jasmine Villa Settlement,’ a trust managed by UBS Trustees. The beneficiaries could be Singaporeans, foreigners, or a mix of both.
His silence is notable because it contrasts sharply with his and other ministers’ rapid responses to allegations made by LHY.
The potential conflict of interest in the sale of the minister’s GCB is similar to earlier concerns about his rental of a black-and-white property at 26 Ridout Road, which also involved the SLA from which he has said to have recused himself from decisions made. Notably, the government has also cleared him of any wrongdoing.
The lack of public commentary from Mr Shanmugam about the sale of his GCB, despite the potential need for SLA’s approval, and the silence from the mainstream media on this revelation, merit scrutiny.
The public deserves to know:
- Who was the buyer and, if the buyer is a non-Singaporean, who approved the sale to UBS Trustees and under what criteria? Especially since GCBs can only be sold to Singaporeans or Permanent Residents who have not only been resident in Singapore for over five years but have also made exceptional economic contributions—a criterion subject to the subjective approval of the authorities.
- Was there any conflict of interest given the minister’s role over the SLA? This is particularly pertinent given that the SLA, which falls under the purview of the Ministry of Law, would typically be involved in approving such transactions if the buyer does not meet the usual criteria. Moreover, given the huge sum involved in the transaction, extra scrutiny is warranted, especially as Mr. Shanmugam is a public servant holding significant power.
- Why has there been no public statement from Minister Shanmugam on this matter, especially given the rapid response to defamation accusations? His silence contrasts sharply with his prompt responses to other public issues, raising questions about consistency and transparency in handling personal financial dealings versus public allegations.
Minister Shanmugam’s transparency in this matter would reaffirm public trust and ensure that his actions as a minister do not conflict with his personal financial dealings.
His response, or lack thereof, will significantly influence public perception of his commitment to transparency and accountability in his official capacities.
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