TOKYO, September 1. /TASS/. Former Singaporean Deputy Prime Minister Tharman Shanmugaratnam has won the country’s presidential election, the Straits Times reported.

According to the newspaper, Shanmugaratnam carried 70.4% of the vote. His rivals Ng Kok Song and Tan Kin Lian received 15.72% and 13.88% of the vote respectively.

"Singaporeans have chosen Mr Tharman Shanmugaratnam to be our next president by a decisive margin," Singaporean Prime Minister Lee Hsien Loong said, adding that he was sure Tharman would carry out his duties as president admirably.

Singapore is a parliamentary republic where real power lies with the prime minister. However, the president approves appointments to key positions. He appoints the prime minister who, in his view, is most likely to win the trust of the majority of lawmakers. The president also enjoys veto power over bills related to finances (parliament can override his veto by a two-thirds majority). In addition, he grants pardons, takes part in anti-corruption activities and decision-making on domestic security and religious issues.