Singapore elects former finance minister as president in landslide

Singapore's former senior finance minister Tharman Shanmugaratnam won the city-state's presidential election by a wide margin on Friday, winning 70.4 percent of votes.

This is the third time the country has voted for its president.

Singapore's presidency is a largely ceremonial role, but the president is expected to ensure checks and balances and holds the key to the country's large but undisclosed reserves. The president has veto powers over any budget or specific transaction that may draw on those reserves, although they have to consult a council of advisers before doing so.

The three-way race saw rivals Mr. Ng Kok Song, a former chief investment officer for GIC, and Mr. Tan Kin Lian, a 2011 presidential candidate, receiving 15.72 percent of votes and 13.88 percent of votes respectively.

Tharman Shanmugaratnam, a former minister of finance, has been one of Singapore's most popular politicians. He won 74.62 percent of the vote in his constituency in 2020, the biggest margin of votes as a ruling People's Action Party (PAP) member. Mr. Tharman resigned from parliament in July 2023 to run for the presidency, a non-partisan role.

A corruption investigation involving a cabinet minister, the resignations of the Speaker of Parliament and another ruling party lawmaker over an illicit affair, and a public outcry over ministers renting state-owned bungalows have made headlines and damaged the squeaky clean image of the PAP, which has been in power since Singapore became independent.

Despite that, Mr. Tharman's landslide win was proof that a candidate from the ruling party continues to be a preferred choice in the Southeast Asian city-state, analysts said.

It shows that Singaporeans still prefer the PAP they know and trust, said Associate Professor Tan Ern Ser, a sociologist at the National University of Singapore (NUS).

"I think (Tharman) won the support of a broad spectrum of voters: people who desire stability, being able to make a living, being able to do better for themselves and their family," he said.

Mr Tharman's performance was, in part, a referendum on the PAP's performance, said Associate Professor Walid Jumblatt Abdullah from Nanyang Technological University (NTU).

"I won't say support for the PAP is fervent, but, evidently, resentment towards the PAP is not fervent," he said. "No doubt, Tharman is more popular than his party, but, at the very least, it shows that the party brand is not toxic so that association with it drags a person down."

The career politician — who made his political debut in 2001 — has shown that he keeps to his word and that he cares for Singaporeans, said political analyst Dr Felix Tan from NTU. "Tharman is someone who is respected within the ruling government as well as beyond that," he said.

As President, Mr Tharman will play the role as fairly and as reasonably as possible, and likely be more proactive and more grounded in the realities of the domestic landscape, he added.

The election results clearly demonstrated that a majority of Singaporeans support Mr. Tharman as a person of good character and integrity, according to Dr Felix Tan. "Clearly, this wasn't an election where race or religion mattered, and given how comfortably he has won, it's also not about his political affiliations, but him as a person," he added. "Importantly, Singaporeans believe that Mr. Tharman has what it takes to be President."

Mr Tharman's victory indicates that a good track record in public service matters, said NUS' Dr. Tan Ern Ser. "He comes across as down to earth, reasonable, knowledgeable and capable," he added. "I believe his insights and advice will be taken very seriously by the government."

But whether Mr. Tharman's landslide victory will translate to support during a general election is a different matter.

"The expectations are very different," said Dr. Felix Tan. "I don't think that the presidential election was about the opposition versus ruling government… Singaporeans voted for the best person that they feel can represent them."

The scandals plaguing the PAP did not feature significantly during the campaign, said Associate Professor Alan Chong, senior fellow at the S. Rajaratnam School of International Studies.

"I think people knew that this sort of thing should be discussed in the run up for the next general election, and (the presidential election) was not an arena for it," said Dr. Chong.

30 percent of votes garnered by Mr. Tharman's rivals showed that there was a group of Singaporeans who were unhappy, but a safe majority seemed to be in favor of the ruling party, he added.

Mr. Tharman's victory did not come as a surprise to at least one voter, as he was relatively well known and had been dedicated to his constituency.

"He's got marketability, because people know him," said Ms He Yulan, a 33-year old media professional. "That sort of word of mouth easily goes around and makes him a popular candidate."

The writer is a freelance journalist for China Daily.