The deputy chairman of the Government of Singapore Investment Corp (GIC) said Thursday he had resigned to run for the state presidency, whose duties include safeguarding its vast foreign reserves.
Tony Tan, 71, a former deputy prime minister and government minister, said he would stand as an independent and was stepping down from the sovereign wealth fund in order to do so.
He has also resigned from the ruling People’s Action Party (PAP) and as chairman of Asian media giant Singapore Press Holdings, publisher of the Straits Times and other newspapers and magazines, he said.
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