Yahoo Finance 
Tharman Shanmugaratnam: 4 things to know about the Singapore presidential aspirant
Tharman Shanmugaratnam has had an illustrious career in politics and government, primarily in roles around economic policy.
SINGAPORE — On 8 June 2023, Senior Minister Tharman Shanmugaratnam announced his intention to contest in Singapore's upcoming presidential elections. He was the first to throw his hat in the ring, followed by businessman George Goh Ching Wah who made his potential bid known on 12 June.
To take up the role, Tharman will have to resign from all his current positions in government and politics. This effectively ends his 22-year political career, in which he served Singapore in roles mostly related to economic policies.
The roles include his ministerial roles, his position as Member of Parliament (MP) for Jurong GRC, as well as his role as chairman of the Monetary Authority of Singapore (MAS) and deputy chair of the Government of Singapore Investment Corporation (GIC), to name a few.
"I believe that I can now best serve Singapore not in politics, but in a different role that has to be above politics," said Tharman, an economist by profession, in a Facebook post.
As Singapore gears up for the upcoming presidential elections, here's a list of things you need to know about this veteran politician's illustrious career.
1. He is a trained economist
Tharman obtained a Bachelor of Science in Economics at the London School of Economics and a Master of Philosophy in Economics at the University of Cambridge. Later, he obtained a Master's in Public Administration at Harvard University's Kennedy School of Government, where he was conferred the Lucius N Littauer Fellow award for outstanding performance and leadership potential.
2. He started his career at MAS
Tharman began his career in public service as an economist at Singapore's central bank and financial regulator MAS, where he became the Chief Economist. He left to join the civil service and served under the Ministry of Education, before returning to MAS as a deputy managing director and subsequently managing director during the Asian financial crisis in the late 90s, when current Prime Minister Lee Hsien Loong was then chairman of MAS.
Eventually, Tharman himself was appointed the chairman of MAS in May 2011, a position he held until his resignation in order to contest the upcoming presidential election.
3. He was charged under the Official Secrets Act (OSA)
In 1992, while serving as director of the economics department of MAS, Tharman was one of five people charged under the Official Secrets Act. The charge came after the then-unreleased second quarter gross domestic product (GDP) flash estimates was published in the Business Times.
Also read: Tharman Shanmugaratnam declares candidacy for Singapore presidential election
Also read: Businessman George Goh: 5 things to know about the Singapore presidential hopeful
Also read: George Goh: Singapore deserves right to vote for new president
The five individuals who were charged, including then-editor of the Business Times Patrick Daniel, pleaded not guilty. The case dragged on for over a year, and Tharman was eventually acquitted of the charge of communicating the GDP growth projections, but was not successful in contesting the lesser charge of negligence.
Tharman was eventually fined S$1,500 while the other four were fined S$2,000 each.
4. He was once touted as Singapore's next Prime Minister
Tharman's entry into politics began in 2001 when he was elected a Member of Parliament for Jurong GRC (Taman Jurong) under the People's Action Party (PAP)'s ticket. He would go on to contest and win the seat four more times, securing huge majorities of the vote.
Over the next 22 years, Tharman held a wide range of ministerial portfolios and government positions. He was Singapore's Deputy Prime Minister from 2011-2019, Minister for Finance from 2007-2015, Minister for Education from 2003-2008, and Minister for Manpower from 2011-2012. He has been a Senior Minister in the Cabinet since 2019, and has been the incumbent Coordinating Minister for Social Policies since 2015.
I like guarding the back and I like planning the game.Tharman Shanmugaratnam
Besides his role as chairman of MAS, Tharman is also the deputy chairman of the GIC where he chairs its investment strategies committee. He has been the chairman of the Economic Development Board’s (EDB) International Advisory Council since 2014.
Although he has long dismissed the idea of becoming Prime Minister, Tharman still enjoys immense popularity among Singaporeans, as evidenced in the large majorities he has continuously garnered from his constituents in Taman Jurong. A 2016 Yahoo Singapore poll showed that Tharman was the clear favourite among Singaporeans to succeed Lee Hsien Loong as Singapore's next Prime Minister, with 69 per cent of the 897 respondents saying they would support Tharman as a candidate for Prime Minister.
"I didn't particularly liked being the person to score goals, but I enjoyed greatly, and for some reason was quite good, at being centre-half, left-half, sometimes full-back. I don't know why, but I like guarding the back and I like planning the game," said Tharman at a recent event.
Follow us on Facebook, Instagram, TikTok and Twitter.
