Threshold increased for candidates from private sector
Presidential hopefuls must have held most senior executive position in a company with shareholders' equity of at least S$500m
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UNDER new eligibility criteria proposed by the Constitutional Commission, individuals who have held the most senior executive positions in at least 691 private-sector companies - including 94 listed companies - could run for President.
With the revised terms, presidential hopefuls must have held the most senior executive position in a Singapore-incorporated company with shareholders' equity of at least S$500 million. This marks an increase from the current criterion, where candidates must head companies with a paid-up capital of S$100 million or more.
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