Ex-GIC Investment Chief Ng Kok Song May Contest S’pore Presidency, Previously Managed Foreign Exchange Reserves

Ex-GIC Investment Chief Ng Kok Song ‘Deliberating’ Bid For Presidency Election

To date, only two candidates have thrown their names in the ring for the upcoming Presidential Election. However, it appears another individual may step up to the plate.

On Friday (14 July), rumours started circulating that Ex-GIC chief investment officer Ng Kok Song may contest the election this year.

The 75-year-old has since confirmed that he’s “deliberating” the decision.

Ng Kok Song describes presidency as “issue of great national importance”

Speaking to The Straits Times on Saturday (15 July), Mr Ng confirmed that he’s “still deliberating” running for the upcoming presidential election.

Describing it as “an issue of great national importance”, Mr Ng acknowledged the “immense personal implications” should he throw his name in the ring.

On Friday (14 July), Wake Up Singapore posted an article claiming that a source had told them that the 75-year-old was “likely” to contest the election.

They added that Mr Ng would have no problem qualifying for the election as his company — Avanda Investment Management — has amassed US$10 billion (S$13.2 billion), exceeding the S$500 million “private sector threshold“.

Was Chief Investment Officer at GIC for 27 years

Prior to founding his own company, Mr Ng served in multiple key financial institutions.

He spent nearly a year in 1970 at the Ministry of Finance (MOF) before moving on to the Monetary Authority of Singapore (MAS), where he worked from 1972 to 1986.

Mr Ng then went to GIC, where he served as the Chief Investment Officer for 27 years. In that capacity, he navigated challenges like the Asian Financial Crisis and the 2007-2008 financial crisis.

At GIC as well, Mr Ng was in charge of managing Singapore’s foreign exchange reserves.

In 2015, he co-founded Aranda Investment Management, a global asset management company. He remains there today as Executive Chairman.

Distinguished career aside, Mr Ng seemingly shares an interesting relationship with Singapore’s founding father, the late Mr Lee Kuan Yew, whom he met during his time at GIC.

Mr Ng reportedly re-introduced the late Mr Lee to meditation. The pair was even filmed meditating together in a video.

Prime Minister (PM) Lee Hsien Loong even penned a thank-you post for Mr Ng in 2013 when the latter retired from GIC. In the heartfelt post, PM Lee described him as a “key person, almost an institution, in GIC”.

Should Mr Ng truly decide to contest the election, we can surely anticipate an exciting political affair this year.

Are you looking forward to the presidential election? Share your thoughts in the comments.

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Featured image adapted from GIC on YouTube.