Market Snapshot
  • U.S.
  • Europe
  • Asia
Ticker Volume Price Price Delta
Dow 12,911.80 -26.83 -0.21%
S&P 500 1,353.08 -4.58 -0.34%
Nasdaq 2,933.46 +0.29 0.01%
Ticker Volume Price Price Delta
STOXX 50 2,492.02 -26.98 -1.07%
FTSE 100 5,906.86 -9.69 -0.16%
DAX 6,746.81 -97.06 -1.42%
Ticker Volume Price Price Delta
Nikkei 9,595.57 +41.57 0.44%
TOPIX 829.35 +3.95 0.48%
Hang Seng 21,381.00 -168.29 -0.78%
Gold 1,777.00 +0.32%
EUR-USD 1.3287 0.2844%
Nasdaq 2,933.46 +0.01%
Dow 12,911.80 -0.21%
S&P 500 1,353.08 -0.34%
FTSE 100 5,906.86 -0.16%
STOXX 50 2,492.02 -1.07%
DAX 6,746.81 -1.42%
Oil (WTI) 105.66 -0.58%
U.S. 10-year 2.016% +0.014
BAC:US 7.94 -0.13%
8411:JP 132.00 +1.54%
Live TV

Singapore’s First Presidential Poll in 18 Years to Gauge Support for Lee

Enlarge image Singaporeans Head to First Presidential Polls in 18 Years

Singaporeans Head to First Presidential Polls in 18 Years

Singaporeans Head to First Presidential Polls in 18 Years

Nicky Loh/Getty Images

Presidential candidate Tony Tan, right, and his wife walk to a voting station during the Singapore Presidential Election in Singapore.

Presidential candidate Tony Tan, right, and his wife walk to a voting station during the Singapore Presidential Election in Singapore. Photographer: Nicky Loh/Getty Images

Enlarge image Singaporean Prime Minister Lee Hsien Loong

Singaporean Prime Minister Lee Hsien Loong

Singaporean Prime Minister Lee Hsien Loong

Munshi Ahmed/Bloomberg

Singaporean prime minister Lee Hsien Loong.

Singaporean prime minister Lee Hsien Loong. Photographer: Munshi Ahmed/Bloomberg

Singaporeans headed to the polls today to vote for a president for the first time in 18 years, giving a gauge of Prime Minister Lee Hsien Loong’s popularity less than four months after his party retained power with the lowest support since independence in 1965.

Four candidates are running for the mainly ceremonial role, including Tony Tan, 71, a former deputy prime minister and the contender most closely associated with the ruling People’s Action Party. He left the party in June to run as an independent. While the PAP hasn’t endorsed any contestant, Lee has said he supports Tan, who served in ministerial roles under him and his two predecessors.

Lee vowed to be more responsive to public criticism after support for his party fell to a record low of 60 percent in the May general election. A more vocal electorate has stoked debate on the role of the president, with some candidates pledging to consult the public and act as a check on the government, which says such moves would be unconstitutional.

“There is enough of the sentiment carrying through from the general election that may work against Tony Tan even though this is a largely ceremonial post,” said Song Seng-Wun, an economist at CIMB Research Pte in Singapore. “Even if he does win, pressure will remain on the PAP to continue to reform.”

No Polls

Voting began at 8 a.m. Singapore time for more than 2.2 million citizens in the former British colony, who will choose a replacement for President S.R. Nathan from the biggest field of contenders since direct elections for the office were allowed in 1991. Because Nathan was uncontested for his two terms, no votes were held. Singapore’s laws don’t allow the publication of pre- election surveys or exit polls.

Of the other candidates, Tan Kin Lian was chief executive officer of insurer NTUC Income and a PAP member, and Tan Cheng Bock was a ruling party lawmaker. Tan Jee Say was a former civil servant and, most recently, an opposition politician.

Singapore’s president can veto government budgets and key public appointments. Those decisions may be overturned by a majority on the eight-member Council of Presidential Advisers and a two-thirds vote in Parliament -- where the PAP still holds 81 of 87 seats. The president is also responsible for safeguarding the national reserves.

Among the most prevalent themes discussed by Singaporeans on Twitter were the role and power of the president and the significance of the election, according to an analysis conducted by global public relations company Bell Pottinger.

‘Disconnect’

“There is currently a disconnect between the constitutional role of the president and what people would like to see it evolve to,” said Vishnu Varathan, an economist at Capital Economics (Asia) Pte in Singapore. At first, Tony Tan had looked like “a shoo-in, but the other candidates have come out strongly.”

A president would be “acting unconstitutionally” by engaging publicly on political issues or contradicting the government, Law Minister K. Shanmugam said in an Aug. 5 speech. “Direct elections do not give the elected president the right to speak independently.”

The president must follow the Cabinet’s advice and cannot act or speak publicly on issues of the day except as advised by the Cabinet, he said, adding that this followed principles adopted from English, Indian and Malaysian constitutional law.

“His influence can be considerable, as he can advise the prime minister on a wide variety of matters,” Shanmugam said. “Whether the president actually wields influence depends very much on who the president is. If he is someone who commands little or no respect, his influence would be limited.”

Checks, Balances

Former opposition politician Tan Jee Say said in a public broadcast on Aug. 18 he will “provide checks and balances on the government without restraint,” adding that “I can and will remind them of their lapses without feeling embarrassed. I shall be their conscience, as well as yours.”

Tan Kin Lian said he would form a President Personal Council drawn from “many segments of society” to “help me keep in touch with the people.” Tan Cheng Bock said the president and prime minister should be physically separated -- the two now work in the same compound.

“There has been much talk about what a president can and cannot do,” Tony Tan said Aug. 18. People interested in taking a public stand on issues and opposing the government “should run for parliament in the next general election.”

To contact the reporter on this story: Shamim Adam in Singapore at sadam2@bloomberg.net

To contact the editor responsible for this story: Stephanie Phang at sphang@bloomberg.net

Sponsored Links

Headlines