SINGAPORE - Former National Development Minister Mah Bow Tan has denied that he had to give up the post after the 2011 General Election because of sky-rocketing property prices.
It was time to retire and make way for younger and talented people to take over, he was quoted as saying in a new book.
Mr Mah is one of nine prominent Hainanese Singaporeans interviewed in the book.
There had been talk that he had to take the blame for rising property prices, but he did not think so.
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Time to retire
Mah Bow Tan had stepped down as Minister of Development in 2011 as it was time for him to retire, the former minister said in a new book published by the Hainan Culture and Heritage Research Centre.
In the Chinese book, Mr Mah refuted rumours that he had stepped down because of growing unhappiness over rising house prices, Shin Min Daily reported.
Mr Mah, who is Member of Parliament for Tampines GRC, had been in Cabinet from 1991 to 2011, and served as Minister for National Development from 1999-2011.
According to Shin Min, Mr Mah said that he did not have any complaints or regrets about his retirement.
Mr Mah also added that he believed he had given the "most precious and most valuable" period of his life to the Government and Singaporeans.