The newly inaugurated president emphasizes independence, stewardship of reserves, and unity for Singapore’s future
SINGAPORE – “I pledge to discharge my duties diligently, faithfully, and to the best of my abilities, for the betterment of Singapore and Singaporeans. I will serve with all my heart,” declared Tharman Shanmugaratnam during his inauguration as Singapore’s 9th President on Thursday evening (Sept 14).
In his speech, the 66-year-old pledged to be “scrupulous and independent” in overseeing the nation’s reserves, a responsibility requiring careful judgment and foresight.
“I will be scrupulous and independent in making judgments that involve the use of the ‘second key’ on our reserves—whether in responding to future crises or in ensuring Singapore remains a safe and liveable home over the longer term,” he said.
Addressing Singapore’s Challenges
Mr. Tharman pointed to the global Covid-19 pandemic as one of many threats Singapore will face in the coming years, adding that longer-term challenges, such as climate change, represent existential risks to the country’s future.
“Should the need arise in the future to use the reserves to tackle such crises and existential threats, we will weigh the matter carefully. We will balance between meeting immediate needs and preserving the reserves so that every generation, now and in the future, enjoys their benefits,” he explained.
Acknowledging Past Leadership and Unity
The President expressed gratitude to his predecessor, Mdm Halimah Yacob, for her contributions as Singapore’s 8th President, and to Prime Minister Lee Hsien Loong for his encouragement and support.
Addressing the citizens of Singapore, he said: “To my fellow Singaporeans, once again, I thank you for your strong endorsement. Regardless of the challenges ahead of us or the differences amongst us, let us remember that we are bound by a common destiny.”
He called for unity and optimism, stating, “Let us take confidence in what we have achieved together so far, and pledge to work together for a future of optimism and respect for all.”
Landslide Victory
Tharman Shanmugaratnam secured his position in a historic landslide victory during the presidential election, winning over 70% of the votes. He prevailed against two other candidates: former GIC chief investment officer Ng Kok Song and ex-NTUC Income chief Tan Kin Lian.
