Threshold increased for candidates from private sector

Singapore

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.

It is also no longer enough for a person to hold the job title of chairman or chief executive officer to qualify; the Commission believes a stipulation such as "the most senior executive position in the company, however that office may be titled" would b…