George Goh speaking to the media after picking up an application form at the Elections Department on June 13, 2023. - ST
SINGAPORE (The Straits Times/Asia News Network): Singaporeans must be given a chance to vote in the upcoming presidential election, said entrepreneur George Goh on Tuesday (June 13), adding that he was confident he would qualify for the race.
He spoke to the media at a doorstop interview outside the Elections Department (ELD) at Novena, after picking up an application form for a certificate of eligibility, which is available at the ELD from Tuesday.
His wife Lysa Sumali and four children turned up with him at around 10am. A group of around 50 of his supporters, wearing red T-shirts, arrived about half an hour earlier.
Goh, 63, who is group executive chairman of Ossia International, a distributor and retailer of consumer products, said: “(If) you look at the last five Presidential Elections, three (were) walkovers... I think the people deserve it to vote for their President... so I’m coming forward.
“When I started, I didn’t have anything, but this land has given me a lot. It’s time for me to serve the nation... Today, I want to give my people a choice.”
He cited his role as an “independent” entrepreneur for over 41 years, adding that he has not been linked to any government-linked company or political party.
Responding to a question from the media on chatter that he may not qualify, he said he has put together a team of professionals, including his auditor, accountant and lawyer, “to discuss eligibility”. He added: “I believe I am qualified.”
“In due course, I will submit the number of companies I founded, incorporated, am a shareholder of, a founding member... I’ll put (them) together and submit to the Presidential Elections Committee.”
Goh had on Monday announced his bid for the presidency in a press release, ending several months of speculation.
His potential competitor at the upcoming poll is Senior Minister Tharman Shanmugaratnam, who announced on June 8 that he would be resigning from Government and the People’s Action Party on July 7 to contest in the election.
Goh was the non-resident ambassador to Morocco, a post he has held since 2017. He was renewed for a second term as ambassador in September 2020.
On Monday, he said that he had tendered his resignation to the Ministry of Foreign Affairs in order to ensure his independence as a candidate.
According to market data from the Wall Street Journal, Ossia International averaged about $50 million in shareholder equity from 2021 to 2023.
A December 2022 report by The Business Times also stated that Ossia International had applied for a third time extension to exit a Singapore Exchange Securities Trading (SGX-ST) watch list.
The list includes companies struggling with their market cap numbers, or have been recording sustained pre-tax losses.
Companies unable to meet the financial requirements to exit the watch list will be delisted from the SGX, or have their trading suspended with a view to delisting the company.
The same report noted that Ossia International said SGX-ST confirmed on Dec 27 it does not object to granting it the third time extension, to meet the financial criteria to exit the watch list. The new deadline for the Singapore-based distributor and retailer of consumer goods is Dec 4.
When asked if he was worried about the watch list, he said: “This is only one of the listed companies... it’s not going to affect my eligibility.”
An online check of Goh has also shown that his name was included in a 2013 Offshore Leaks database by the International Consortium of Investigative Journalists (ICIJ), which disclosed details of some 130,000 offshore accounts.
It listed him as a director or shareholder of several companies in the jurisdiction of the British Virgin Islands.
Some of the companies were defunct or undergoing deregistration as of 2010, which is when its information on Goh was last updated.
Businesses use offshore accounts for a variety of reasons - from operating more easily and simply globally, to avoiding tax obligations.
Asked if he thought that not being able to “clearly qualify” would hurt his credibility and chances, Goh reiterated that he was confident he would meet the criteria.
On whether he was confident of standing against Tharman, he said that Singaporeans had voted in 1993 for former accountant-general Chua Kim Yeow, who had at the time stood against former Deputy Prime Minister Ong Teng Cheong, who later become President. Goh also noted the slim winning margin in the 2011 Presidential Election.
He was confident that based on these past results, people want change.
“Today, we are in a very difficult situation in Singapore, (with a) high cost of living,” he said.
“People want change... I need everybody. Come with me, we will win, stand together... I trust my people.”
He added in Mandarin that deciding to be President could not be a decision influenced by friends, or one made just the day before.
“I have prepared for seven years. So this year I am standing before you sincerely, saying that I am willing to be your President,” he said.
Matthew Fong, 51, an entrepreneur, said he met Goh on a trip to Nepal several years ago with Border Mission, a charity that Goh had set up in 2015 with his wife, but got to know him more personally in the last year.
“Singapore is a democratic society. People need to have options and choices to make. I was very agitated when it was a walkover (in 2017),” he said.
“It should not be that way. We need to give people a choice.”
Bahri B Rajib, 73, said he was approached last year by Goh who wanted to learn to speak Malay due to his role as an ambassador. Goh has been taking regular classes, about weekly, from him.
Several months ago, he learnt from Goh about his interest in running for the presidency. “I said why not? I said okay, I will support you.”
