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SINGAPORE: Presidential hopeful Dr Tony Tan has said Singapore could be affected by a "perfect storm" that is brewing in the global economy.
The former deputy chairman of the Government of Singapore Investment Corporation (GIC) said should he be elected, he will be able to contribute his knowledge and experience to help the government understand the situation better.
Dr Tan was speaking on the sidelines of an event organised by the Singapore Indian Chamber of Commerce and Industry on Thursday, a day after the Writ of Election was issued.
He was invited to launch a book titled "Beyond the Myth - Indian Business Communities in Singapore".
Dr Tan said he wants to meet as many Singaporeans as possible to understand their concerns - something he has been actively doing since he announced his intention to run for Presidency.
He said people are concerned about the economy and he expects global uncertainties to create a perfect storm of problems which could eventually affect Singapore.
Dr Tan said: "I think there is the possibility (in) the coming months of having the perfect storm of problems which will affect the global economy, and eventually affect Asia and Singapore.
"Our Singapore dollar against the US (dollar) is now 1.2. Many people are predicting it will go even lower. It is difficult for our companies to cope if this appreciation is rapid because you can raise productivity, raise skills training but you can't do it so quickly - all of these take time."
Dr Tan said that given the economic uncertainties, it is highly likely the next President will be involved in decisions about Singapore's economic future.
He added: "With my background in these areas, and with the knowledge which I have of the financial market, and the global economy, I believe that I will be able to make the contribution to and help the government and the ministers ... to understand the situation better because I worked in these fields for the last 20 years.
"I have intimate knowledge of all these areas. And it's really because, if you like, I see the dark clouds over the horizon coming on ... I feel that I was very comfortable in SPH and GIC - there was no reason for me to leave this job which I love.
"But with these dark clouds coming over the horizon, I felt that 'how can I just stand aside and just be comfortable in my own sphere when all these problems will affect Singapore'.
"I know I have the experience and the knowledge which could help the government, in order to cover all these problems, of course, within the limits of what the President can do.
"The President is not a power centre, the President cannot have executive powers, but the President has knowledge and experience and he can share these with the government officials.
"And I know them every well - all the ministers - and maybe they will listen to me because I worked in this field for many years."
