SG elects economist Tharman Shanmugaratnam

The President-elect vowed to make SG a "partner of choice internationally."

Singapore has elected economist Tharman Shanmugaratnam as its ninth president.

Data from the Elections Department showed that Shanmugaratnam received 1,746,427 votes (70.4%), winning against Ng Kok Song and Tan Kin Lian who received 390,041 and 344,292 votes, respectively.

Research firm Executive WorkPlace International said it is important for Singapore to elect someone who “can make sound financial decisions” and has a “strong understanding of financial markets and investment strategies,” given the total size of its national reserves.

Citing data from GIC, Temasek, the Monetary Authority of Singapore (MAS), and the Central Provident Fund, the firm said Singapore’s national reserves are over $2.2t. 

Comparing the three candidates, the firm said now President-elect Shanmugaratnam has a “wealth of experience in fund management.”

“He has held senior positions in the Monetary Authority of Singapore (MAS) and the Government Investment Corporation (GIC),” the firm added.

Shanmugaratnam served as chairman of MAS  from 2011 to 2023 and deputy chairman of GIC from 2019 to 2023. 

In a Facebook post, Shanmugaratnam vowed "a future where every generation derives confidence and benefit from our national reserves" and "a future where Singapore continues to be a partner of choice internationally."

"It will be my duty to use the roles and responsibilities of the President to help us advance this future of optimism and solidarity," he added.