Questions have arisen regarding the eligibility of businessman George Goh to run for the presidency in Singapore due to his potential inability to meet the requirement of having served as the chief executive of a company with a minimum of S$500 million in shareholders’ equity. Constitutional lawyers suggest that the decision ultimately rests with the Presidential Elections Committee (PEC), as it remains unclear whether Goh automatically qualifies as a candidate. This article examines the complexities surrounding Goh’s eligibility and explores the deliberative track that may determine his candidacy.
Navigating Eligibility
As Goh, a serial entrepreneur credited with bringing Harvey Norman to Asia, declared his intention to participate in the election, concerns emerged about his eligibility. During a media briefing, Goh expressed confidence in meeting the criteria and mentioned assembling a team of professionals to assess his eligibility.
Goh, 63, currently serves as the group executive chairman of Ossia International, an investment holding company listed on the Singapore Exchange (SGX) with a market capitalization of approximately S$45 million (US$33 million) as of recent data. Goh’s website claims ownership of seven listed companies across Singapore, the UK, and Australia, with a combined market capitalization of S$3.15 billion.
According to Ossia International’s filings and annual reports, the company reported S$54.9 million in shareholders’ equity in the financial year 2022/2023, following S$48.6 million in FY2021/22 and S$45.1 million in FY2020/21. However, meeting the private sector service requirement for the presidency necessitates having served as the chief executive of a company for at least three years, with an average shareholders’ equity of at least S$500 million and consistent profitability.
PEC Discretion and the Deliberative Track
Until the PEC makes a determination, uncertainty surrounds Goh’s candidacy. Associate Professor Eugene Tan of the Singapore Management University Yong Pung How School of Law explains that based on Goh’s press statement and comments to the media, he may not automatically qualify under the private sector service requirement. Instead, Goh may rely on the “deliberative track” within the PEC’s discretion to establish his eligibility.
Under this track, the PEC considers the nature of the office, the size and complexity of the organization, and the applicant’s performance in that role to determine if it is “comparable” to that of a typical company’s chief executive with a shareholders’ equity of at least S$500 million. The PEC also assesses other relevant factors to ascertain an applicant’s experience and ability to fulfill the President’s functions and duties effectively.
Conclusion
Goh’s eligibility for Singapore’s presidential election hinges on the decision of the PEC, which may grant him a certificate of eligibility under the deliberative track if satisfied with his qualifications. While automatic qualification requires meeting specific criteria, the deliberative track allows for discretionary evaluation based on factors such as the nature and complexity of Goh’s business ventures. As Singapore prepares for its presidential election, the PEC’s determination regarding Goh’s eligibility will shape the candidate landscape and the overall democratic process.
Also learn about George Goh Confident in His Candidacy for Singapore’s Presidential Election.
