SINGAPORE: A total of 413 companies in Singapore with more than S$500 million (US$370 million) in shareholders’ equity have filed CEO or managing director information with the Accounting and Corporate Regulatory Authority (ACRA).
About 40 per cent of these CEOs or managing directors, or about 165, are Singapore citizens, said Deputy Prime Minister and Finance Minister Lawrence Wong on Tuesday (Jul 4).
Mr Wong was writing in response to a parliamentary question by Non-Constituency Member of Parliament (NMP) Leong Mun Wai (Progress Singapore Party), who asked how many such companies have Singaporean chief executives.
Potential presidential candidates looking to qualify under the private sector service requirement must have served for at least three years as chief executive of these companies.
Those in the public sector must have held office – for at least three years – as a minister, chief justice, Speaker of the House, attorney-general or permanent secretary among others. Chief executives of key statutory boards or government-owned companies like Temasek also qualify.
It was revealed in parliament in May that there are around 50 public service positions that may fulfil the public sector service requirement to run in Singapore’s next presidential election.
Potential candidates must also satisfy the committee that they are people “of integrity, good character and reputation”.
A Presidential Elections Committee – made up of members such as chairpersons of the Public Service Commission and Accounting and Corporate Regulatory Authority – determines whether candidates are eligible to run.
Senior Minister Tharman Shanmugaratnam and businessman George Goh, founder of Harvey Norman Ossia, have both announced their intention to run for the presidency.