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Ng Kok Song’s son-in-law’s role at GIC sparks questions amid presidential bid

The link between Presidential candidate Mr Ng Kok Song’s 27-year past with GIC raises concerns about conflicts of interest and bias.

Notably, his son-in-law, Mark Lee currently, holds the position of Managing Director at GIC, and his tenure at GIC spans an impressive 22-year duration.



SINGAPORE: Since Ng Kok Song, the former Chief Investment Officer of Singapore’s sovereign wealth fund GIC, announced his candidacy for the 2023 Singapore Presidential Election in July, he has consistently emphasized his “political independence.”

However, questions have arisen among Singaporeans about his ability to serve as President impartially, given his extensive 27-year association with PAP politicians during his tenure at GIC.

Interestingly, a vigilant netizen highlighted that Ng Kok Song’s son-in-law, Mark Lee, currently holds the position of Managing Director at GIC.

A cross-reference with a previous report by CNA on 19 July confirms this observation, with Mark Lee positioned at the far right in the group photos:

In a video featured on TODAY, Mr Ng introduced his family members to the media, including his first daughter, Deborah Ng, and her husband, Mark Lee.

22-year tenure in GIC

After closely examining Mr Lee’s publicly accessible LinkedIn profile, it is apparent that his tenure at GIC spans an impressive 22-year duration.

His profile unambiguously states that his journey with GIC began in September 2001. Over the course of his extensive career within the organization, he has achieved notable milestones.

Notably, he ascended the ranks to become Deputy Head of Asia Pacific Equities, followed by his appointment as Deputy Head of Developed Market Equities in 2018.

Further enhancing his professional trajectory, Mr. Lee assumed the esteemed role of Chief of Global Active Equities (GAEQ) within the Public Equities Department in June 2019.

This strategic department, as outlined in Mr Lee’s profile on GIC’s official site, is entrusted with global investments in developed markets. The GAEQ team operates across key financial hubs, including New York, London, and Singapore.

Prior to joining GIC, Mark was a technical consultant at Hewlett Packard.

Mark holds a Bachelor of Engineering (Electrical) from the National University of Singapore and a Master of Business Administration from the University of Chicago Booth School of Business.

He is also a CFA charterholder.

The affiliation of Mr Ng’s family members with GIC raises significant concerns regarding potential conflicts of interest and the potential for favouritism.

These considerations have the potential to impact Mr Ng Kok Song’s ability to carry out his duties as President impartially and without bias.

After a notable 27-year stint with GIC, Mr Ng co-founded Avanda Investment Management in 2015. Remarkably, just a year later, the company received a staggering sum of S$4 billion from Temasek.

Furthermore, the endorsement of Mr. Ng by PM Lee’s wife, Ho Ching, who attributed to him the pioneering of wealth management training in Singapore, leading to Temasek’s investment in the Wealth Management Institute in 2003, further underscores the intertwined professional journey they share.

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Would it not be even better if every mini star son or daughter also? Meritocracy for you

You folks should listen to what he said without a bias mindset. Why keeps on harping on his relationship with temasek and the lady boss. He is urging people to vote for an independent president, not a government backed one. Is this a plot by government, own self stab own self? Read again if not clear. Some people history cannot be changed, just like tkl once a pap men. But he has a clear and non partisan principle he believes. My vote will go to you.

(extremely sickeninNG)
cookie jar-dippiNG/
Stinkypoora’s most shameless & aged, camwhoriNG/
boss-suckeriNG aka balls-suckiNG

tok KOK

sing SONG

Wow, now son-in-law? Next? NKS can still claim to be independent and no Conflict of Interests. ELD is a failure. Instead of the $500m criteria, it should have said, the candidates cannot be in a Conflict of Interests situations but the PM himself has the wife and son in his office so why not his subordinates?

I already said many times:

Same white wine from the same white bottle will sing the same song.

How to prevent : ownself check ownself?

This new information regarding the SIL, Mark Lee, does not bode well for NKS’s candidacy. It adds more murkiness to an already murky waters And it would be interesting to know the returns, if any, of the S$3 bil that Temasek bet on Avanda since 2016. Was NKS the man with the Midas touch that Temasek was willing to let him handle S$3 bil of the taypayers’ money? By any measure that is a staggering sum. Or is Avanda also covered under the OSA? However, this latest information does reinforce my view the NKS is a real goner. The question… Read more »

You scratch my back, I’ll scratch yours.

Birds of the feather

The WEB is humongous!Now I starting to believe the Taiwanese news of $99 million.Oppostion MPs and us pro opposition must stop them.The difficult part is new citizens votes about 180k and the high ranking civil servants and businessman.We try step by step .It pains my heart’ when see aunties,uncles waiting for first bus at 5am to go to work for the meagre pay.?Let’s send them away!My family already 13votes for TKL and opposition.

Once a former Pappy is the center of focus ,all his cronies, associates, kins ,relatives ALL COME OUT OF THE WOOD WORK TO SHOW THE EXTENSIVE TIES OF CRONYISM WITHIN THE SYSTEM.
But local peasants are indifferent even with such news, which shows why time and time again , election after election…THE LOCALS PEASANTS REMAINED SCREWED!😆😆😆🤣🤣🤣🤣🤣

Wah both PAP linked candidates got implants in gahmen financial institutions.
The rot starts exposing itself naturally. Thanks to the CSI team at the eleventh hour.
You know who to give the X to.

Buddy Buddy lah.
Got young toy, got family positions.
Normal what.
What Do You Expect, Ho Jinx kaki all to sell Hokkien Mee & Kuay Teow is it???