Ng Kok Song says he is the only non-partisan candidate as Tharman was a PAP leader and Tan Kin Lian was endorsed by two members of opposition parties

SINGAPORE: Presidential hopeful Ng Kok Song, a former Chief Investment Officer of the GIC, spoke in a recent interview about why keeping the number of the country’s reserves a secret is important.

Mr Ng posted a series of video clips on his Instagram account wherein he tackled a number of topics, including financial literacy, investing, the reserves and meditation, which is one of his passions.

In talking about the reserves, he underlined that the reserves are part of the country’s overall defense, calling them Singapore’s financial defence.

 

View this post on Instagram

 

A post shared by Ng Kok Song (@ngkoksong.official)

He captioned his post, “Some have asked why we cannot reveal how much we have in the reserves. Our reserves are our financial defence. In a war, you do not reveal to your enemy how much resources you have. Similarly, keeping the value of our reserves a secret is strategically important for Singapore. #ngkoksong2023 #unitedforourfuture #finance #adulting #secrets

See also  PE2023: Restore integrity of the presidency, let’s have a real fight this time

On the need for secrecy regarding Singapore’s reserves, he said the following:

“It is a very strange thing that when you’re confronting a hostile force, an enemy who wants to do damage to you, do you tell your enemy how much resources you have?

That is why we keep our resources a secret. Singaporeans say, ‘Why can’t you tell us how much reserves we have?’ Our reserves are our financial defence; they are part of our total defence for Singapore.

We have our military defence. We have our social defence. We must have our financial defence. The more reserves we have, the more people will think twice or three times to undermine the stability of our currency.

That’s what I mean when I say the reserves are strategically important for Singapore.”

Mr Ng was with the Government of Singapore Investment Corporation (GIC) for 42 years, serving as Group Chief Investment Officer from 2007 until his retirement in 2013.

See also  "PE2023 must not become a proxy fight between Govt-backed candidate and opposition-backed candidate" - Ng Kok Song

He is a 2012 awardee of the Meritorious Service Medal from the Singapore Government.

Prior to working at GIC, he was with the Monetary Authority of Singapore from 1972 to 1986 and began his career at the Ministry of Finance in 1970. /TISG

https://theindependent.sg/ng-kok-song-confident-in-mounting-a-good-challenge-against-tharman/

Read also:

Presidential candidate Ng Kok Song backed by former presidential hopeful Mohamed Salleh Marican

Ng Kok Song on CPF savings: Govt saves Singaporeans the headache of investing money, guarantees risk-free interest rate – Singapore News

Beyond winning: Ng Kok Song’s spiritual and philosophical approach to the presidential race – Singapore News 

Singapore goes to the polls: Tharman, Ng Kok Song, Tan Kin Lian qualify as presidential candidates

Ng Kok Song explains why Singapore’s reserves have to be kept secret 

George Yeo backs Ng Kok Song’s bid for presidency, amid scrutiny over “Tharman wants it” comment 

Ng Kok Song confident in mounting a good challenge against Tharman