We sat down with a Singaporean presidential hopeful

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Hello reader,

Growing up, when I was anxious about a big responsibility, it would manifest in pretty ridiculous nightmares.

I distinctly remember in the build up to one exam when I had a nightmare that I was in charge of the Olympic Games and I had somehow ruined the event for everyone. God knows how.

Delusions of grandeur? Maybe a bit, but I think my biggest fear was letting down those who had put their faith in me, like my parents and teachers.

Ng Kok Song is asking millions of Singaporeans to put their faith in him as their next president – and that’s the kind of responsibility that would have given me nightmares as a child.

We sat down with Ng to find out why he thinks he’s the right man to be the city-state’s next president.

Today we look at:

• Our exclusive interview with Singaporean presidential candidate Ng Kok Song
• Layoffs at recently profitable Bukalapak
• Other newsy highlights such as South Korean ecommerce giant Coupang’s profit of US$1.5 billion and a new fund for Indian entertainment startups to tap.

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Presidential aspirations

Image credit: Timmy Loen

Ng Kok Song describes himself as a “pioneer of the Singapore finance sector,” with his CV boasting stops at the Monetary Authority of Singapore (MAS) and sovereign wealth fund GIC.

The 75-year-old touts his combination of both public and private sector experience as setting him apart from his rivals. Here’s more of what the presidential hopeful had to say.

• Finance focus: Ng told Tech in Asia that he feels Singapore should focus on developing its expertise in the financial sector for long-term growth. His experience working at the MAS in the 1980s has led him to believe that nurturing talent in the sector is key to success and that Singapore can be the “Wimbledon of global finance.”
• Tensions rising: With geopolitical tensions escalating between the US and China, Ng believes Singapore has to concentrate on its interests and thread the needle between the two superpowers.
• Hand to mouth: Ng says his mother is his biggest inspiration. He says their family of 11 children grew up in poverty, which made him determined to study and work hard to improve their station in life.

Bukalapak layoffs

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