Businessman George Goh, 63, plans to contest Presidential Election, quits envoy post and pledges to be 'truly independent person'

SINGAPORE — Singapore businessman George Goh announced on Monday (June 12) that he will be contesting the upcoming Presidential Election.

In a statement to the media, Mr Goh, 63, said that he had "made his decision in 2017 to stand for election after the eligibility requirement for private sector candidates was raised".

"He was concerned that the more stringent conditions might lead to another uncontested election, as was the case in 2017 with President Halimah Yacob," the statement said.

The Government at that time had tightened the eligibility criteria for presidential candidates.

For example, it increased one eligibility criterion for private sector candidates who had to head a firm with S$500 million in shareholders' equity, instead of one with S$100 million paid-up capital threshold.

The statement on Monday went on to say that Mr Goh will contest as an independent candidate, having had "no political party affiliations — past or present".

"All four of Singapore’s past elected presidents were political appointment holders or from the public sector," it added.

"It is time to have a truly independent person with a pair of fresh eyes to play the role the elected president was created for."

President Halimah Yacob’s six-year term in office expires on Sept 13. She announced late last month that she does not intend to stand for re-election.

Mr Goh's latest announcement makes him the second person to confirm their plans to stand for the Presidential Election. Senior Minister Tharman Shanmugaratnam last week made public his own intentions to throw his hat into the ring. 

PRESIDENT MUST BE 'PERCEIVED' AS BEING ABOVE POLITICS

Based on publicly accessible information, Mr Goh holds 57 directorships and other positions in companies registered in Singapore. The press statement described him as an "entrepreneur, diplomat and philanthropist".

Since 2017, Mr Goh has been the Singapore non-resident Ambassador to Morocco.

To contest in the upcoming election and "to maintain his independence", Mr Goh tendered his letter of resignation from the post to the Ministry of Foreign Affairs on June 9.

Besides outlining some of Mr Goh's credentials, the statement also mentioned Mr Tharman's links to the Government.

It noted how Mr Tharman has been with the ruling People's Action Party (PAP) since 2001 and a long-time Cabinet minister.

"Being so closely aligned with the ruling political party, the question is whether he is the right man to become President," Mr Goh's statement read.

"This is especially so, given the President’s role in checking the Government in the two important areas concerned with the national reserves and key public office appointments.

"To maintain the integrity of the office, the President must not only be above politics but be perceived as such." 

BUSINESS EMPIRE

Mr Goh was described in the statement as having started working since his teens "and has since built a business empire spanning 14 countries".

He is the chairman of Ossia International, a footwear, sports and fashion retailer listed on the Singapore Exchange, and founder of Harvey Norman Ossia — a joint venture vehicle with the Australia-based electronic retailer.

He is also deputy chairman of Pertama Holdings Limited, an investment company with interests in wholesale consumer electronic products and furniture, among others.

"He is equipped with the financial and technical skills to scrutinise the Government’s books and has considerable managerial and leadership expertise, acquired both here and abroad, to make judgements about a person’s suitability for an important post," the statement read.

He has owned more than 100 companies, including five that he had listed on the stock exchanges of Singapore and the United Kingdom, besides acquiring two other companies, which were also publicly listed.

In all, they have a collective market capitalisation value of $3.15 billion.

Outside of the private sector, the father of four co-founded Border Mission, a charity that seeks to serve the poor in Singapore and the Himalayan region. He is also a council member at the Red Cross Society.

Notwithstanding his portfolio, he has kept a relatively low public profile previously.

However, his recent actions have indicated to some political analysts that he might be gunning for the presidency. These included building up his social media presence.

Mr Goh set up a public Facebook page on May 23 last year, where he has posted almost daily since last September. As of Friday evening, there were about 470 people following his Facebook page.

He also has a website featuring his biography and past interviews with the media. Online checks showed that the website was set up on Oct 11 last year.

Mr Goh’s social media pages feature details about his personal life and career.

TODAY understands that former newspaper editor Bertha Henson is helping him with media and publicity matters.

Political analysts who spoke to TODAY recently said that they believe Mr Goh's attempts to build up his public profile in recent months point to his presidential aspirations.

In a media statement earlier on Monday, the Elections Department said that prospective candidates for the upcoming Presidential Election may begin applying for a certificate of eligibility and submit community declarations from Tuesday.

Last month, Education Minister Chan Chun Sing, who is also Minister-in-Charge of the Public Service, said in a written response to a parliamentary question that there are around 50 public service positions that may fulfil the public sector service requirement to run in the next presidential election.

For potential candidates looking to qualify under the private sector service requirement, there are more than 1,200 companies with average shareholders’ equity at or exceeding S$500 million, Mr Chan added.

Mr Goh's press statement is appended: