Richard Hu Obituary, Death Cause – It is with profound sadness that we mourn the passing of a true statesman, Dr. Richard Hu. His departure from this world marks the end of an era, and his legacy will forever be etched in the annals of Singapore’s history. Dr. Richard Hu’s illustrious career as Singapore’s longest-serving Finance Minister, spanning from 1985 to 2001, leaves an indelible mark on our nation. He was an architect of transformation, instrumental in turning Singapore into a prominent global financial hub through a comprehensive overhaul of our financial and banking sectors. During one of Singapore’s most challenging moments, Dr. Hu’s leadership shone brightly. In the midst of the Asian Financial Crisis in 1998, he steered our nation with unwavering resolve, implementing two-off Budget stimulus packages that provided crucial support to Singaporeans during a time of crisis.
Dr. Hu’s wisdom and foresight extended far beyond his tenure as Finance Minister. His visionary policies, including the introduction of the Goods and Services Tax (GST), bolstered Singapore’s international competitiveness and created a more resilient tax base for our nation. His commitment to shaping Singapore’s economic landscape was unwavering. As a young civil servant, I had the privilege of witnessing Dr. Hu’s dedication to public service firsthand. He served as a shining example, transitioning into politics after a distinguished career in the private sector. His remarkable journey extended to key roles in the Monetary Authority of Singapore (MAS) and the Government Investment Corporation (GIC). Dr. Hu’s tireless service extended to his constituents as a Member of Parliament for Kreta Ayer, where he continued to impact lives with his unwavering dedication.
Dr. Richard Hu devoted a significant portion of his life to serving Singapore and its people. His contributions have left an enduring imprint on our nation, influencing key policies and shaping the future of Singapore. During this somber moment, we extend our deepest condolences to Dr. Hu’s family and loved ones. Our thoughts and prayers are with them as they bid farewell to a beloved patriarch and statesman. Let us remember and honor Dr. Richard Hu for his profound contributions to Singapore, and may his legacy continue to inspire us all to serve our nation and its people with unwavering dedication and foresight.