President Tharman, SM Lee send condolence letters to Vietnam after passing of former president
Vietnam's former president Tran Duc Luong died on May 20 at the age of 88 after an illness. PHOTO: AFP
President Tharman, SM Lee send condolence letters to Vietnam after passing of former president
SINGAPORE - President Tharman Shanmugaratnam and Senior Minister Lee Hsien Loong sent condolence letters to Vietnam's leaders on May 26, following the death of the country's former president Tran Duc Luong.
Mr Luong had died on May 20 at the age of 88 after an illness, reported Viet Nam News . He served as Vietnam's president from 1997 to 2006 .
'On behalf of the people of Singapore, I would like to offer my deepest condolences on the passing of former President Tran Duc Luong,' President Tharman wrote to his counterpart, President Luong Cuong.
Mr Tharman noted that Mr Luong had 'served his country with steadfast determination during a time of profound transformation for Vietnam'.
Mr Tharman added that the late Vietnamese leader had helped to steer his country in the aftermath of Doi Moi, or a series of market reforms in 1986, seeing Vietnam through the Asian Financial Crisis in 1997, and 'its integration into Asean's structures' after it became a full member in 1995.
'His contributions were immense, and will be remembered,' said Mr Tharman.
Mr Lee wrote to Vietnam's Prime Minister Pham Minh Chinh, remembering his introductory visit to Vietnam in December 2004 where he met Mr Luong as then-Prime Minister of Singapore.
'President Luong was a statesman who devoted his life to serving his country,' said Mr Lee.
'Under his leadership, Vietnam advanced steadily along its reform path and deepened its engagement with Singapore and the rest of the region. He played a crucial role in laying the foundation for the enduring trust and friendship between our two countries. His legacy will be remembered.'
Join ST's Telegram channel and get the latest breaking news delivered to you.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Straits Times
21 minutes ago
- Straits Times
Sheffield Wednesday charged by EFL over failure to pay wages on time
Sheffield Wednesday charged by EFL over failure to pay wages on time The English Football League (EFL) has charged Sheffield Wednesday with multiple breaches of regulations after the second-tier club failed to pay players' wages on time. The club had already been placed under registration embargoes in the last two seasons having received a six-point deduction during the 2020-21 season for breaching profit and sustainability rules. "The owner of Sheffield Wednesday, Dejphon Chansiri, has also been charged with causing the club to be in breach of EFL regulations despite his commitment to fund the cash requirements of the club," the EFL said in a statement on Tuesday. "All charges relate to both the Ultimate Beneficial Owner and the club failing to meet their obligations to pay players' wages on time and in full in March and May 2025." Thai businessman Chansiri, who took over Sheffield Wednesday in 2015, had acknowledged the charges and apologised to everyone connected with the club, the team said. "The club continue to seek a resolution regarding outstanding salaries due for the month of May at the earliest possible opportunity," it added. The club and Chansiri have 14 days to respond to the charges. Sheffield Wednesday finished 12th in the Championship in the recently-concluded season. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
Straits Times
21 minutes ago
- Straits Times
Frothy tech stock returns helped mint 600,000 millionaires in 2024
The US alone added 562,000 millionaires as enthusiasm for AI and interest rate cuts drove huge advances in the US stock market. PHOTO: AFP NEW YORK – Global wealth surged last year, with the number of millionaires across the world hitting a record 23.4 million. The annual World Wealth Report from Capgemini, an IT services and consulting group, shows the number of people with at least US$1 million (S$1.3 million) in investable assets grew 2.6 per cent in 2024, driven in large part by gains in American stock portfolios. The United States alone added 562,000 millionaires, a 7.6 per cent increase from the year prior, as enthusiasm for artificial intelligence and interest rate cuts drove huge advances in the US stock market. The gains were biggest among ultra-high net worth individuals – defined as having at least US$30 million in investable assets – with their wealth jumping nearly 12 per cent in the US. Elsewhere, the Asia Pacific region saw a 2.7 per cent gain in millionaires, attributed to a strong equities market and easing monetary policy, and the Middle East saw a 2.1 per cent decline due to lower oil prices. In Europe, market volatility and sluggish growth led to a consolidation of wealth at the very highest levels, with the number of individuals with US$30 million or more growing 3.5 per cent while the overall population of millionaires fell 2.1 per cent. Across all high-net worth portfolios, Capgemini said cash holdings remained steady, as did a 15 per cent allocation for alternative assets like private equity and cryptocurrency. Kris Bitterly, head of Citi Global Wealth at Work, said more investment exposure to alternatives could be key to unlocking future growth opportunities, especially with high-net worth individuals aiming to skirt lags in their local markets. 'Many investors, presently, when you look at their asset allocations, they're significantly underweight on alternatives,' Ms Bitterly said. Alternatives present 'unique opportunities that are not available in public markets that you want to express in your portfolio.' Capgemini's survey, administered in January 2025, included input from dozens of wealth managers and more than 6,000 high-net worth individuals across 71 countries. BLOOMBERG Join ST's Telegram channel and get the latest breaking news delivered to you.
Straits Times
34 minutes ago
- Straits Times
Vietnam orders action to avert power crunch as heat lifts demand
Recent bouts of sweltering heat in northern and central areas of Vietnam increased peak power demand to almost 52 gigawatts on June 2. PHOTO: EPA-EFE HANOI – Vietnamese Prime Minister Pham Minh Chinh has ordered government agencies to ensure uninterrupted power supplies for households and businesses as heat waves boost electricity demand to a record. Recent bouts of sweltering heat in northern and central areas of the nation increased peak power demand to almost 52 gigawatts on June 2, an all-time high, according to a statement posted on the government website. The mean temperature in Vietnam topped 30 deg C on June 2, about 8 per cent above the 30-year average for this time of year, according to data compiled by Bloomberg. Mr Chinh asked the trade ministry and other agencies to prevent power shortages under 'any circumstances,' according to the statement. Among the measures, he instructed to accelerate start up of new power plants and grid connections, and ensure safe operation of the electricity system during the peak dry season. Rising temperatures in the country are part of a global trend, with other pockets of the planet also heating up. Signs are pointing to a red-hot summer across the North America, Europe, and Asia, threatening to tax power grids, wilt crops, and send energy prices spiking. Above-average temperatures are forecast across Japan through August, while weather models are predicting a warmer-than-average summer throughout mainland and maritime South-east Asia. Asia's developing nations have been hitting new power demand records every year, as rapid economic growth, coupled with expansion of air conditioning, boosts electricity requirements. BLOOMBERG Join ST's Telegram channel and get the latest breaking news delivered to you.
