Ladies and Gentlemen

These are uncertain times for Singapore. The economic crisis that has gripped the region over the last year has yet to run its course. As an open economy with wide exposure to the region, Singapore has been affected by the crisis. Retrenchments have increased. We will grow slower this year. Although countries in the region have taken steps to overcome their problems, full recovery is expected to take some time. Singapore�s economic performance will continue to be dull so long as the region�s economic outlook does not improve.

It is often in times of crises such as this that we are reminded of the importance of having leaders with vision and fortitude. Over the years, Singapore has been fortunate to have able leaders, both in Government and the public service. Without them and the diligence and support of Singaporeans, Singapore would not have been able to achieve its current level of growth and prosperity. While the current economic downturn will adversely affect all Singaporeans, I believe that with strong and capable leadership, hard work and confidence, Singapore will successfully ride out this storm and emerge stronger than before.

Looking further down the road, it is important to ensure that Singapore continues to stay ahead in an increasingly competitive global economy. We must continue to identify and groom our best to assume leadership positions in the public service. The Public Service Commission scholarship programme is a key way of doing so.

This year, two young men and a young lady have been conferred the President�s Scholarship, the most prestigious award in the land. They are Miss Lisa Gan Hwee Chun, Mr Sim Kai and Mr Teo Tse Hsiang. Miss Gan has also been awarded the Overseas Merit Scholarship. She will read Law at the University of Cambridge. Mr Sim and Mr Teo have both been nominated for the Singapore Armed Forces Scholarship. They will pursue Electrical Engineering at Stanford University and MIT, respectively.

These three scholars are the best all-round students in their cohort. Like our past President�s Scholars, they have excelled academically and in their extra-curricular activities. They have also demonstrated leadership qualities, strength of character, and the commitment to serve the nation.
Their attainments are the result of consistent hard work and support from their parents, teachers and friends.

They now join the ranks of 210 President�s Scholars before them, many of whom hold senior positions in the public service and have made significant contributions to Singapore. It is up to them to follow in their seniors� footsteps. They must set the pace and a high standard for others to follow, not only in their studies but also in their careers. Equally important, they must render service to the nation and their fellow citizens. In order for Singapore to succeed as a nation, the more successful and able amongst us must feel the obligation to help those less able and less fortunate than themselves. This will strengthen the bonds among Singaporeans, and foster a more cohesive and compassionate society.

I am confident that Miss Gan, Mr Sim and Mr Teo will live up to the high standard expected of them as President�s Scholars, and do Singapore proud. It leaves me now to congratulate them, as well as their families, principals, teachers and friends, who have supported them.
I wish them every success in their future endeavours.

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