Incumbent President Halimah Yacob has saidMr Ng retired from GIC – Singapore’s sovereign wealth fund – in 2013 after 27 years there.
Avanda has turned a profit in the last three financial years from 2020 to 2022, according to documents obtained by ST from the Accounting and Corporate Regulatory Authority.Mr Ng joined the public service in 1970 as an investment analyst with the Finance Ministry after graduating with a physics degree from the University of Singapore.
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