All three potential candidates have said that they are contesting as independent candidates. Dr Tan Cheng Bock and Mr Tan, in particular, made it a point to distance themselves from the People's Action Party.
Given public sentiment that has carried over from the May General Election, are the candidates' move a sign that they are bowing to populist pressures just as what President SR Nathan had cautioned against?
No, said Mr Tan, who added: "As a leader, you listen to people, you understand what they are telling you.
But then you don't just bow to populist pressure.
"You must evaluate whether the feedback is practical or not, good for the long-term or not, and you must make your own decisions. So I'm not bowing to populist pressure.A leader has to be stronger than that."
Mr Tan had said in the press conference earlier that he came from a humble background and understood the struggle of people who found it difficult to earn enough to meet the cost of living.
He also said that he wished to run for president as a public duty and pledged to donate at least 50 per cent of the president's salary to charity and other worthy causes if he is elected into office.
So, does he see himself as someone who's out to help the needy?
"I believe that leaders don't have to be paid so much... I look at the presidents and prime ministers of other countries. They earn a salary that is quite modest, they don't earn such high salaries.
"So definitely for me, I don't think I want to take such a big salary, otherwise people will say Tan Kin Lian is after this job for a salary, and I don't want to give people that impression."