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Leong Mun Wai

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In this article, the surname is Leong.
The Honourable
Leong Mun Wai
梁りょう文ぶん辉
Leong in 2020
Non-Constituency Member of the
14th Parliament of Singapore
Incumbent
Assumed office
16 July 2020
Serving with Hazel Poa
Preceded byDennis Tan (WP)
Daniel Goh (WP)
Leon Perera (WP)
3rd Secretary-General of the Progress Singapore Party
In office
4 April 2023 – 20 February 2024
ChairmanTan Cheng Bock
Preceded byFrancis Yuen
Succeeded byHazel Poa
1st Assistant Secretary-General of the Progress Singapore Party
In office
17 January 2020 – 17 July 2020
Preceded byAnthony Lee
Succeeded byFrancis Yuen
Personal details
Born (1959-09-25) 25 September 1959 (age 65)
Colony of Singapore
Political partyProgress Singapore Party (2019–present)
EducationRaffles Institution
Alma materHitotsubashi University (BEc)
London Business School (MSc)
Occupation
  • Politician
  • business executive
WebsiteOfficial website

Leong Mun Wai (Chinese: 梁りょう文ぶん辉; pinyin: Liáng Wénhuī; born 25 September 1959[1]) is a Singaporean politician and former investment banker. A member of the opposition Progress Singapore Party (PSP), he has been a Non-Constituency Member of Parliament of the 14th Parliament of Singapore since 2020 and served as Secretary-General of the PSP from 2023 to 2024.

An Overseas Merit Scholar and Sloan Fellow, Leong worked at the Government of Singapore Investment Corporation (GIC) and Merrill Lynch, before joining OCBC Securities, and later DBS Vickers, as managing director. He joined the PSP in 2020, contesting in the West Coast Group Representation Constituency where his team narrowly lost to the PAP. He was appointed an NCMP that same year.

Early life and education

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Leong grew up in Chinatown, his family sharing a rented floor of a shophouse with nine other families.[2] He was educated at Raffles Institution in the 1970s,[3] and was later awarded an Overseas Merit Scholarship by the Singapore Government in 1979 to study economics at Hitotsubashi University in Japan, where he graduated valedictorian and at the top of his economics class.[4] Whilst pursuing his degree, Leong was also elected Secretary-General of Singapore's Student Association of Japan.[5] In 1992, Leong obtained a Master of Science in management from London Business School as a Sloan Fellow.[6][7] He is a Chartered Financial Analyst.[8]

Career

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Leong began his career in 1986 with the GIC and subsequently worked with investment banks in Tokyo, London and Hong Kong, including at Mitsubishi Bank, Salomon Brothers and at Merrill Lynch as a director.[8][9][10] He returned to Singapore in 1997 to accept an appointment as Managing Director of OCBC Securities, a leading brokerage firm in Singapore. He stepped down from the position in 2005,[11] joining DBS Vickers as Managing Director later that year.[12][13] He is currently the Chief Executive Officer of his own private equity firm, Timbre Capital.[14]

He was formerly the Deputy Chairman of the Singapore Exchange Disciplinary Panel.[15]

Political career

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Leong was appointed as assistant secretary-general of the Progress Singapore Party on 17 January 2020.[citation needed]

In the 2020 Singaporean general election, Leong along with team members, Tan Cheng Bock, Hazel Poa, Nadarajah Loganathan and Jeffrey Khoo contested in the West Coast GRC as part of a five-member PSP team but narrowly lost to the People's Action Party with 48.31% of the vote.[16] Notwithstanding, under the Non-constituency Member of Parliament (NCMP) scheme, Leong was appointed an NCMP with effect from 16 July 2020.[17][18][19][20][21] Four days later, he stepped down as assistant secretary-general of PSP to focus on his NCMP duties, with the position handed over to Francis Yuen.[22]

In 2023, Yuen stepped down as secretary-general of PSP and Leong was elected secretary-general.[23][24] On 23 February 2024, Leong stepped down as secretary-general of PSP after the Singapore government issued a POFMA order which refuted the falsehoods made by Leong on his Facebook post. He remains on the party's governing body and as an NCMP.[25][26][27]

Parliamentary work

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In 2021, Minister for Foreign Affairs Vivian Balakrishnan called Leong "illiterate" in Parliament in a hot mic accident, denigrating Leong's secondary school Raffles Institution as a "lousy school". He lated apologised for the remark.[28] In August 2023, Leong filed a complaint against Balakrishnan, which Speaker of Parliament Seah Kian Peng dismissed.[29]

In 2023, MP for Bukit Batok SMC Murali Pillai claimed in Parliament that Leong had “advocated some form of rent control” during a debate on the Significant Investments Review Bill. Leong similarly filed a complaint to the Speaker of Parliament against this claim, which was also dismissed.[30]

In 2023, Parliament voted in favour of an amended motion Leong proposed on the impartiality of duties of the Speaker of Parliament.[31] The same year, Leong's motion on housing policy was supported by all 11 opposition Members of Parliament, but failed to win the majority PAP's vote.[32]

Eugene Tan, an associate professor at Singapore Management University, has described Leong as having a "dogged but confrontational style" in Parliament with a "folksy persona" that attempts to embody a "defiant underdog speaking for the masses". Felix Tan, a lecturer at Nanyang Technological University, notes that "A vocal articulation of [Leong's] thoughts in parliament has given him... perhaps an increasing number of supporters for the way that he goes about voicing concerns amongst certain groups of Singaporeans."[33]

Political positions

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Leong argues that Singaporeans at large are worried about domestic jobs being replaced by expatriates, advocating for laws that prevent discrimination on the basis of nationality.[34] In 2020, Leong proposed a cap on the ratio of non-resident workers to Singapore citizens, and for more stringent regulations on the admission of foreign PMETs.[35][36] In 2021, Leong criticised the government for the India–Singapore Comprehensive Economic Cooperation Agreement, claiming that the policy had negatively affected Singaporean employment whilst increasing immigration into Singapore.[37]

Leong has criticised the government's social policy as giving out handouts. He advocates for long-term social policy solutions and for a minimum wage in Singapore.[38][39] In light of rising costs of living, Leong has proposed re-lowering Singapore's goods and service tax from 9% to 7%, after it was increased by the government.[40] At the 2023 budget debates, Leong expressed the view that middle-class Singaporeans are taxed disproportionately to their income.[41] He advocates for more affordable public housing in Singapore.[42]

Leong has been vocal in raising questions relating to the reserves of the Government of Singapore. In February 2024, he raised a motion calling on the Government to use more of the reserves for the needs of the current generation of Singaporeans. During that debate, he argued that there was no need for secrecy around the size of Singapore’s reserves, and that the reserves will continue to grow even if a larger proportion is allocated for use today.[43]

Leong has also raised questions about the Selective En Bloc Redevelopment Scheme (SERS). In 2022, he submitted a petition to Parliament seeking a review of the scheme and a moratorium on the scheme pending the outcome of such a review, on behalf of residents affected by the scheme.[44]

He has called for the abolition of the GRC system, financial support for opposition MPs, and for greater opposition representation in Parliament.[45][46] He opposed the government's passing of the Foreign Interference (Countermeasures) Act, arguing that more public consultation and legislative checks should have been put into place.[47] During the COVID-19 pandemic, Leong voted against the government's bill to allow the use of TraceTogether contact tracing information by law enforcement officials in investigations.[48]

The PSP supported a motion passed by the Parliament of Singapore on the Israel-Hamas war in November 2023. During that debate, Leong acknowledged the complexity of the Israeli-Palestinian conflict and called for greater public education on this issue to reduce the risk of Singaporeans being swayed by biased or incorrect discourse.[49]

Personal life

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Leong is fluent in English, Chinese, and Japanese.[50]

References

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  1. ^ "Facebook". www.facebook.com. Retrieved 19 April 2024.
  2. ^ Quek, Hykel (16 June 2023). "Leong Mun Wai Doesn't Know How To Be a Politician Yet". RICE. Retrieved 26 February 2024.
  3. ^ "Vivian Balakrishnan apologises to PSP's Leong Mun Wai after 'illiterate' comment circulates online". The Straits Times. Retrieved 17 August 2021.
  4. ^ "S'pore scholar achieves rare distinction at Tokyo University". The Straits Times. 30 March 1992. p. 6.
  5. ^ "Students assn of Japan". The Straits Times. p. 11.
  6. ^ "People". Archived from the original on 18 June 2020. Retrieved 14 July 2020.
  7. ^ "Singapore GE2020: Profiles of Progress Singapore Party's new candidates". The Straits Times. 27 June 2020. ISSN 0585-3923. Retrieved 26 February 2024.
  8. ^ a b "The biography of Leong Mun Wai" (PDF). Parliament of Singapore.
  9. ^ "Merrill goes on poaching spree". South China Morning Post. 18 March 1995. Retrieved 26 February 2024.
  10. ^ "Hui Yew Ping to take over as new OCBC Securities head; His immediate priority is to grow the business". The Business Times Singapore. 26 January 2005.
  11. ^ Chan, Kwai Seng (26 January 2005). "OCBC Securities names new head". Today. p. 29.
  12. ^ "Will DBS be third time lucky in transforming its retail equities strategy?, Companies & Markets - THE BUSINESS TIMES". www.businesstimes.com.sg. 5 March 2019. Retrieved 26 February 2024.
  13. ^ Sreenivasan, Ven (20 May 2005). "'Musical chairs' job swap at two brokerages". Business Times Singapore.
  14. ^ "Mun Wai Leong, Chief Executive Officer at Timbre Capital Pte Ltd. - Relationship Science". relationshipscience.com. Archived from the original on 15 July 2020. Retrieved 14 July 2020.
  15. ^ Singapore Exchange Annual Report 2014. p. 65.
  16. ^ "GE2020: PAP wins West Coast GRC with 51.69%". mothership.sg. Archived from the original on 15 July 2020. Retrieved 18 July 2020.
  17. ^ hermesauto (11 July 2020). "GE2020: Two PSP candidates from West Coast GRC team to be offered NCMP seats". The Straits Times. Archived from the original on 10 July 2020. Retrieved 18 July 2020.
  18. ^ "PSP to announce candidates for remaining two NCMP seats - YouTube". www.youtube.com. Archived from the original on 15 July 2020. Retrieved 14 July 2020.
  19. ^ Koh, Fabian (14 July 2020). "GE2020: PSP chooses assistant secretary-general Leong Mun Wai and vice-chairman Hazel Poa as NCMPs". The Straits Times. Archived from the original on 14 July 2020. Retrieved 14 July 2020.
  20. ^ "Election of Non-Constituency Members of Parliament in General Election 2020" (PDF). www.eld.gov.sg. Archived (PDF) from the original on 16 July 2020. Retrieved 16 July 2020.
  21. ^ "Singapore Gazette No.1449/2020" (PDF). 17 July 2020. Archived (PDF) from the original on 17 July 2020. Retrieved 18 July 2020.
  22. ^ Koh, Fabian (20 July 2020). "PSP's Leong Mun Wai and Hazel Poa step down from party positions to focus on NCMP duties". The Straits Times. Singapore Press Holdings. Archived from the original on 1 August 2020. Retrieved 1 August 2020.
  23. ^ "Progress Singapore Party chief Francis Yuen steps down in leadership shake-up". CNA. Retrieved 4 April 2023.
  24. ^ "Progress Singapore Party appoints Leong Mun Wai as new secretary-general". CNA. Retrieved 4 April 2023.
  25. ^ "Leong Mun Wai steps down as PSP chief to take responsibility for recent POFMA order". CNA. Retrieved 23 February 2024.
  26. ^ "Leong Mun Wai issued POFMA order over false claims about lack of financial aid for West Coast residents". CNA. Retrieved 24 February 2024.
  27. ^ "Singapore Wields Fake News Law Against Opposition PSP Chief".
  28. ^ "Singapore minister's apology lays bare angst over elite school obsession". South China Morning Post. 17 September 2021. Retrieved 26 February 2024.
  29. ^ "Speaker Seah Kian Peng dismisses Leong Mun Wai's complaint against Murali over 'rent control' remark". CNA.
  30. ^ "Speaker Seah Kian Peng dismisses Leong Mun Wai's complaint against Murali over 'rent control' remark". CNA. Retrieved 25 March 2024.
  31. ^ "Parliament votes in favour of amended PSP motion on Speaker to discharge duties 'impartially'". CNA. Retrieved 26 February 2024.
  32. ^ "Parliament rejects PSP's public housing proposals, passes government motion on affordable and accessible HDB flats". CNA. Retrieved 26 February 2024.
  33. ^ "Leong Mun Wai's election as PSP chief signals party's confidence in him, endorsement of debate style: Analysts". CNA. Retrieved 26 February 2024.
  34. ^ Avinsh, R. "The Year in Review: Policy and Political Developments in 2021" (PDF). lkyspp.nus.edu.sg. Retrieved 25 February 2024.
  35. ^ Tan, Tasha. "The Year in Review: Policy and Political Developments in 2020" (PDF). lkyspp.nus.edu.sg. Retrieved 25 February 2024.
  36. ^ "Singapore defends foreign labor as opposition seeks limits". chinadailyhk. Retrieved 26 February 2024.
  37. ^ Dylan M H Loh, Singapore's conception of the liberal international order as a small state, International Affairs, Volume 99, Issue 4, July 2023, Pages 1499–1518, https://doi.org/10.1093/ia/iiad161
  38. ^ "Budget debate 2024: Leong Mun Wai on replacing the 'handout approach' with permanent schemes". CNA. Retrieved 26 February 2024.
  39. ^ Oh, Tessa (26 February 2024). "MPs cautious about handouts, keen on worker support on first day of Budget debate". The Business Times.
  40. ^ Tan, Elysia (7 November 2023). "WP's proposed changes to tackle cost of living may have worse outcomes: Chee Hong Tat". The Business Times.
  41. ^ High, Tessa (23 February 2023). "SINGAPORE BUDGET 2023; High business, parenting costs among top concerns in Budget debate". The Business Times.
  42. ^ "70% of BTOs launched in 2022 affordable with S$8,400 median household income: Desmond Lee, Property - THE BUSINESS TIMES". www.businesstimes.com.sg. 6 February 2023. Retrieved 26 February 2024.
  43. ^ "Parliament votes for amended motion on national reserves, rejects PSP motion to review fiscal policies". TODAY. Retrieved 25 March 2024.
  44. ^ "PSP's Leong Mun Wai submits petition to Parliament seeking review of Sers, moratorium on scheme pending outcome". TODAY. Retrieved 25 March 2024.
  45. ^ Yuen-C, Tham (6 July 2023). "GRC system used for benefit of PAP and should be abolished, say PSP's Leong Mun Wai and Hazel Poa". The Straits Times. ISSN 0585-3923. Retrieved 26 February 2024.
  46. ^ "Leong Mun Wai's proposals for 'opposition hour', more flexible timekeeping in parliament rejected". CNA. Retrieved 26 February 2024.
  47. ^ Ong, Justin (30 September 2021). "PSP NCMP submits petition to Parliament to delay anti-foreign interference law pending more consultation, scrutiny". The Straits Times.
  48. ^ de Cunha, Derek. Breakthrough 2.0: Singaporeans Push for Parliamentary Democracy. Singapore: World Scientific. p. 392. ISBN 9789811229312.
  49. ^ "Motion on Israel-Hamas war passed in parliament; MPs call for longer-term aid for Palestinians". CNA. Retrieved 25 March 2024.
  50. ^ "Q&A with Leong Mun Wai of the Progress Singapore Party". Jom. 21 April 2023. Retrieved 26 February 2024.
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Parliament of Singapore
Preceded by Non-Constituency Member of Parliament
2020 - present
Served alongside: Hazel Poa 		Incumbent
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