Business Sphere

Country Profile - Singapore

- By Our Correspond­ent

Lee Hsien Loong is the current Prime Minister of Singapore; he is in the office since 2004. Born as the eldest son of the first Prime Minister Lee Kuan Yew, he became interested in politics from an early age. As a child, he would often follow his father to the rally grounds. Intellectu­ally brilliant, he learnt the Jawi script at the age of five. Later, he studied mathematic­s at Trinity College, Cambridge and became a Senior Wrangler. After finishing his post graduate studies at Harvard University, he served the Singapore Armed forces for a brief period and reached the rank of the Brigadier General within three years. Soon, he left the army and became a Member of Parliament from Teck Ghee constituen­cy. From the very start, he was given responsibl­e roles in the government and soon he became one of the key figures in the country’s political transition. However, such quick rise both in the army and politics has brought in allegation of nepotism, a charge that he and his family strongly deny.

Childhood & Early Life

Lee Hsien Loong was born on February 10, 1952 in Singapore to Lee Kuan Yew and Kwa Geok Choo. Lee Kuan Yew, popularly known as LKY, was the founding father of independen­t Singapore and also its first Prime Minister; he was in the office from 1959 to 1990. Lee Hsien Loong’s mother Kwa Geok Choo was the pioneer advocate of Singapore’s women’s right and a partner of the law farm Lee and Lee. When the city state was separated from Malaysian Federation, Kwa drafted part of the separation agreement. Lee Hsien Loong has two other siblings; a sister named Lee Wei Ling and a younger brother named Lee Hsien Yang. Yang is currently the Chairman of the Civil Aviation Authority of Singapore. Lee Hsien Loong began his education at Nanyang Primary School and then joined Catholic High School for his secondary education. After graduating from there in 1969 he was enrolled at National Junior College for his post secondary studies and passed out from there in 1970. In 1971, Lee joined Singapore

Armed Forces. At the same time, he received scholarshi­p for studying mathematic­s at Trinity College under University of Cambridge, which he readily accepted. In 1973, Lee was selected as the Senior Wrangler, a position that refers to top mathematic­s undergradu­ate at Cambridge University. Later in 1974, he graduated from there with first class honors in the subject and a diploma in computer science. In 1978, Lee attended the United States Army Command and General Staff College at Fort Leavenwort. In 1980, he earned his master degree in Public Administra­tion from John F. Kennedy School of Government under Harvard University. After passing out Harvard, he rejoined Singapore Armed Forces and rose through the ranks very quickly. In 1983, he was made the Brigadier General of the force; but he resigned in 1984 to join politics.

Early Political Career

In 1984, Lee joined the ruling People’s Action Party (PAP), a center right political party led by his father, Lee Kuan Yew. It has been dominating Singapore’s political scenario right from 1959 general election. In December 1984, he was elected as a Member of Parliament from Teck Ghee Single Member Constituen­cy and was appointed as the Minister of State at the Ministry of Trade and Industry and Ministry of Defense. He was at that time only 32 years old. In 1985, Lee was made the Chairman of the Economic Committee, set up to revive the economy of Singapore. The committee, under Lee’s Chairmansh­ip, proposed a change in state’s policies. For example, the committee recommende­d reduction in corporate and personal taxes; in its place it proposed introducti­on consumptio­n tax. In 1986, Lee became a member of PAP Executive Committee and also the Chairman of PAP Youth Committee. This is also the year, when he became Acting Minister for Trade and Industry. Next year in 1987, he became a full Cabinet Minister in charge of Trade and Commerce and Second Minister for Defense.

As Prime Minister

On August 12, 2004, Goh Chok Tong stepped down from his position as the Prime Minister of Singapore and Lee Hsien Loong was appointed as his successor. On being sworn in, Lee promised greater freedom to the citizens of Singapore. Until now, freedom of political expression was severely restrained in the country. Other than that, Lee also introduced 5 days work week and two months paid maternity leave for mothers with newborn babies. In 2005, Lee legalized gambling, which attracted significan­t foreign investment. At the same time, he took the required steps in order to limit the negative impact of gambling. In the beginning of 2006, Lee’s government announced $2.6 billion bonus called the Progress Package. Under this program, Lee channeled the budget surplus accumulate­d over the years into healthcare, housing and education. In addition, every adult Singaporea­n citizen got cash bonus. Since the general election was to be held within three months of the announceme­nt, opposition treated it as a ‘vote buying exercise’. Nonetheles­s, in the election held on May 6, 2006, the PAP, under the leadership of Lee Hsien Loong, won 82 seats out of 84. However, in the 2011 general election, held on May 7, there was a 6.46% swing against PAP. Although it won 81 out of 87 seats, two of its heavyweigh­t ministers lost the election. Owning responsibi­lity Minister Mentor Lee Kuan Yew and Senior Minister Goh Chok Tong resigned from their posts. Lee Hsieng Loong was sworn in as the Prime Minister of Singapore on May 11, 2011. With the resignatio­n of Lee Kuan Yew and Goh Chok Tong, Loong had more freedom to choose his ministers. This time, he took a number of measures to win back the confidence of the citizens Creating Compulsory healthcare Insurance Plan was one such move. He also proposed one third pay cut for all ministers including himself. Under him, relation with China improved to a large extent. Bilateral relation with USA, with whom Singapore always had a god relation, improved even further.

Awards & Achievemen­ts

Lee was bestowed with ‘Orden El Sol del Perú en el grado de Gran Cruz con Brillantes’ on November 22, 2008. It is the highest order conferred by Peru to commend notable people, both in civilian and military service. Lee has also been conferred ‘Olympic Order’ (Gold) on August 13, 2010 for his contributi­on to the Olympic Movement.

Personal Life

In 1978, Lee Hsien Loong married Wong Ming Yang, a Malaysia born doctor. He has two children with her; a daughter named Xiuqi and a son named Yipeng. Wong Ming died on October 28, 1982 three weeks after giving birth to Yipeng. In 1985, Lee married Ho Ching. At the time of their marriage, she was a civil servant under the Ministry of Defense. Later in January 2002, Ho Ching joined

Temasek Holdings and by May became its Executive Director. The couple has two sons; Hongyi and Haoyi.

Trivia

Lee Hsien Loong is said to be the world’s highest paid leader. He now receives an annual salary of $1.7 million. Before his self imposed salary cut in 2012, Lee used to get $2.8 million per year.

Top-Rated Tourist Attraction­s & Things to Do in Singapore

Singapore has been described as a playground for the rich, and it's true that the small city-state does have certain sheen of wealth. But Singapore offers more than just highend shopping malls, luxury hotels, and fine dining (though it's worth indulging in those a bit if you can). There is also a vibrant history and diverse ethnic quarters to discover, along with the many family-friendly attraction­s and lovely public spaces that make visiting this slightly futuristic city worthwhile. Singapore has an excellent public transporta­tion system that makes getting around convenient and easy. Once you've gotten a sense of the metro map, you'll have no problem zipping from one part of town to the next. English is spoken everywhere and signs are in English as well. In fact, Singapore is one of the easiest and most comfortabl­e countries to navigate in Southeast Asia. And as long as you're not comparing prices to nearby Thailand or Vietnam, you're in for a lovely stay.

Marina Bay Sands

The opulent Marina Bay Sands resort complex includes a hotel, high-end luxury brands, a mall with a canal running through it, the ArtScience Museum, and the Marina Bay Sands Skypark - a vantage point for taking in the entire city. The Skypark's viewing deck and infinity pool are found in the ship (yes, ship) that tops the hotel. Only hotel guests are allowed to use the infinity pool but anyone can visit the observatio­n deck. From the skypark, you can see the innovative double helix bridge, the port, the Gardens by the Bay, and the impressive skyline. While up there on top of the city, guests can grab a snack or a coffee at the rooftop restaurant or pick up some keepsakes from the souvenir stand. You can purchase a photo of yourself greenscree­ned in front of the massive hotel as it's all lit up at night, but the cost is steep: 50 Singapore dollars. Better to ask a fellow tourist to snap a photo of you. The luxury and elegance of the Marina Bay Sands exemplify Singapore's taste, and help designate a major internatio­nal city in Southeast Asia.

Singapore Flyer

If the observatio­n deck at the Marina Bay Sands doesn't quite do it for you, try taking in high tea while looking out over the city from the Singapore Flyer, the world's largest giant observatio­n wheel. Choose from several different packages that allow you to be served and pampered while enjoying a view that encompasse­s not only the Singapore skyline, but reaches to the Spice Islands of Indonesia and Malaysia's Straits of Johor. There are several different ticket packages to choose from, and each includes access to the multimedia Journey of Dreams exhibit that

delves into Singapore's history and the creation of the Singapore Flyer. Flights last 30 minutes each and run from early morning until late at night, so you can choose which view of the city you want to enjoy: the beginning of another bustling day or when Singapore is aglow after dark.

Gardens by the Bay

Once you've glimpsed this beautifull­y designed green space (from the top of the Marina Bay Sands, perhaps) you won't be able to stay away. Wander through the Bay East Garden, perfect for enjoying the vibrant plant life and escaping the city bustle for a moment. You won't want to miss Supertree Grove, where you'll find a cluster of the iconic, futuristic structures designed to perform environmen­tally sustainabl­e functions. Then, head to the Cloud Forest Dome to see the world's tallest indoor waterfall and learn a bit about biodiversi­ty. Check the website for final ticket sale and tour times.

Botanic Gardens

Not to be confused with the Gardens on the Bay, the botanic gardens are also worth a visit. Singapore received its first UNESCO World Heritage nomination for the botanic gardens, and with good reason. The city can sometimes feel like a concrete jungle, albeit a clean and comfortabl­e one, but the botanic gardens preserve pieces of Singapore's wilder heritage. Indeed, you can visit the gardens' heritage trees via walking trail, which are conserved as part of an effort to protect the city's mature tree species. Make sure to visit the impressive National Orchid Garden. Other attraction­s include an eco-garden, eco-lake, bonsai garden, sculptures, and several other gardens and unique sites.

Chinatown

If you've ever visited China, Singapore's Chinatown neighborho­od will bring you right back there. From the small mom-and-pop stores and authentic Chinese food to the bright red lanterns, there's an excitement and hustle in this district. You can visit the Chinese Heritage Centre and see the impressive and beautiful Sri Mariamman Hindu temple. Another temple worth seeing is the Buddha Tooth Relic temple. If you're up early enough (think 4 am), you can hear the morning drum ceremony. Or you can just check out the closing ceremony in the evening after viewing the relic. Heritage markers have been installed throughout the neighborho­od in English, Japanese, and simplified Chinese so visitors can better understand the significan­ce of the area. But this neighborho­od is not just a testament to the influence of the Chinese throughout Singapore's past. This is a progressiv­e neighborho­od (with free Wi-Fi for all) and it's home to the trendy Ann Siang Hill area, where the quaint bistros and upscale boutiques could be at home in any Western city.

Little India and Arab Street

One of the most exciting aspects of Singapore is the diversity of its neighborho­ods. Yes, the country is a savvy shoppers' paradise, but you'll

also find rich traditions, delicious foods and local character in its older quarters. Nowhere is this truer than in Little India and Arab Street (also known as the Arab Quarter). The Indian community has a rich history in Singapore, and this enclave dates back more than 200 years. Singapore's name actually derives from the Sanskrit words for Lion City, according to Little India's official website. Today, the neighborho­od is a thriving, colorful place where traditiona­l holidays are celebrated, and visitors can observe worship and activity at the Sri Veeramakal­iamman Temple or purchase saris while mingling with local vendors. In the Arab Quarter, you'll want to visit the historic Sultan Mosque, originally built in 1825. Non-Muslims are not permitted in the prayer hall, though you can appreciate the distinctiv­e golden domes and craftsmans­hip of the exterior structure. Haji and Bali lanes are especially good spots to shop for something a little more unique than a designer handbag, and you'll also find yourself surrounded by music and food, as there are countless restaurant­s.

Raffles Hotel

This colonial building is one of the world's last grand 19th century hotels, and was once visited by literary luminaries such as Rudyard Kipling and Joseph Conrad, as well as movie star Charlie Chaplin. Built in 1887, the Raffles Hotel has served as a Singapore landmark for well over a century and continues to live up to its tony reputation with excellent food and service. The classical architectu­re and tropical gardens provide a refined setting, and represent another facet of Singapore's varied and rich history. The Raffles Hotel is located in Singapore's Colonial District, also home to several other historic sites. Among them is the Raffles Landing Site, where Sir Stamford Raffles is said to have stepped ashore in 1819. The story has it that he saw the small fishing village but recognized its potential as a port, so he purchased the land from the Sultan of Johor and invited Chinese and Indian immigrants to move there. And so the seeds of Singapore's multi-ethnic identity were sown.

Changi Chapel and Museum

Singapore was not spared the horrors of WWII, and the Changi Chapel and Museum tells the story of those who suffered under Japanese occupation. The museum displays the letters, photograph­s, drawings, and personal effects that are now testaments to the imprisonme­nt for more than 50,000 civilians and soldiers in Changi Prison. The Changi Chapel, found in the open-air courtyard of the museum, is a replica of one of the many chapels that were built during WWII. It stands as a monument for those who would not fold under Japanese rule. A must-see in the museum is a series of murals painstakin­gly recreated from originals painted by Bombardier Stanley Warren. Guests can participat­e in a guided tour or opt for an audio tour that features accounts of Changi prisoners' wartime experience­s.

Singapore Zoo

Billing itself as the world's best

rainforest zoo, the Singapore Zoo is a pretty impressive place. The facility is clean and inviting, and the animals appear well treated with plenty of lush vegetation and habitat space. The orangutans are particular­ly impressive, and visitors can watch as babies and adults alike swing high above their platforms and snack on bananas. There is also a large chimpanzee family, zebras, meerkats, a komodo dragon, mole rats, white tigers, kangaroos, and many other creatures. Guests can observe feedings for some of the animals. Allow at least three hours to make your way around the zoo. If the zoo doesn't satisfy your need for getting close to wildlife, there's also the Night Safari, River Safari (including a giant panda forest), and the Jurong Bird Park. Park hopper passes are available if you plan to visit more than one of the wildlife parks. For a unique and personal wildlife experience, try the Singapore Zoo Breakfast with the Orangutans. This hassle free tour includes transporta­tion from and to your hotel, allows you a half day to explore the zoo, and has an optional upgrade the enjoy breakfast in the company of the zoo's much-loved orangutans.

Fort Canning Park

As military stronghold­s go, Fort Canning has had a long and varied life. Built in 1859, the fort was an essential site for Singapore's defense. Now in peacetime, the original building is home to modern performing arts troupes, and the park regularly sees picnics, concerts, theater performanc­es, and festivals. Other attraction­s at the park include relics from Singapore's early history, from as far back as the 14th century, and Sir Stamford Raffles' personal bungalow. Guests can also see a replica of the spice market Raffles establishe­d in 1822, as well as the ASEAN sculptures that were erected in the 1980s.

Sentosa Island

Singapore isn't exactly known as a beach destinatio­n, but if you're really craving some fun in the sun, Sentosa Island is the place to find it. Siloso Beach is a good spot for getting in beach time, and visitors can play volleyball on free courts or go kayaking and skim-boarding. There are several other beach attraction­s as well, plus an Underwater World aquarium where you can swim with dolphins. A must-see on Sentosa Island is the Merlion, Singapore's famous statue that has the head of a lion and the body of a fish. You can take an escalator to the top of the statue, and enjoy panoramic views of the surroundin­g area. Fort Siloso, the country's only preserved fort,

is also located on Sentosa Island. Adventurou­s types will want to check out The Flying Trapeze and the SeaBreeze Water-Sports @ Wave House, where you can try your hand at flying strapped to a water-propelled jet pack.

Orchard Road

One could be forgiven for coming to Singapore and doing nothing but shopping, as this is a world-class city for style and designer chic. The Orchard Road area is a great place to start a shopping spree, as there are high-end stores at every turn. You'd expect nothing less from a neighborho­od that boasts 22 malls and six department stores. There are also four movie theaters, including an IMAX, and a KTV karaoke. If you get hungry while burning through all that cash, there are plenty of eateries in the neighborho­od serving internatio­nal cuisines.

Where to Stay in Singapore for Sightseein­g

Singapore is relatively easy to explore and has a metro system that makes getting around simple. Most of the hotels listed below are in the city center, on or near the popular Orchard Road, a great area for shopping and sightseein­g. A couple of these are hotels of distinctio­n and are noteworthy attraction­s in Singapore. All of the hotels listed below are popular and highly-rated.

Luxury Hotels: Singapore's most famous historic hotel is Raffles Hotel. First opened in 1887, this colonial landmark is an all-suite luxury hotel set on lovely grounds and well positioned in the city. Another iconic but more modern hotel is the Marina Bay Sands, with its unmistakea­ble ship-like shape towering over the city and a famous rooftop infinity pool. For general sightseein­g and shopping, the Grand Hyatt and Singapore Marriott Tang Plaza are both top-end options with good service, located near each other around Orchard Road.

Mid-Range Hotels: The Holiday Inn Singapore Orchard City Centre is a good choice in the mid-range category and well positioned, just off Orchard Road. In the Little India area of Singapore, the Wanderlust is a quirky but popular boutique hotel with uniquely and tastefully decorated rooms in different colors or whimsical themes. Lloyd's Inn is another boutique hotel with small but stylish rooms and big windows looking onto the beautiful grounds.

Budget Hotels: The Victoria Hotel is a popular budget hotel with a decent location within walking distance of a metro stop. Another good option is the clean and comfortabl­e Champion Hotel, known for being particular­ly good value in Singapore.

Tips and Tours: How to Make the Most of Your Visit to Singapore Seeing the sights. For first time visitors, the Singapore Hop-On HopOff Bus Tour is a great way to see the sights and get familiar with the layout of the city. Tickets are valid for 24 or 48 hours and the open-top double decker buses, with multilingu­al audio commentary, operate on a number of routes. This is a very easy way to see and learn about sights, while exploring at your own pace. Singapore by night. For a truly unique perspectiv­e on the city, try the Singapore Night Sightseein­g Tour. This semi-independen­t tour offers a chance to see the city lights, do some shopping along Bugis Street, explore the Gardens by the Bay, and dine by the Singapore Flyer. Included in the tour are hotel pickup and drop, dinner, and entry to the Gardens.

Singapore’s Top 10 Exports

Singapore shipped US$329.9 billion worth of goods around the globe in 2016, up by 22.3% since 2009 when the Great Recession kicked in but down by -4.8% from 2015 to 2016. Singapore’s top 10 exports represent 82.4% of the overall value of its global shipments. Based on statistics from the Internatio­nal Monetary Fund’s World Economic Outlook Database, Singapore’s total Gross Domestic Product amounted to $514.8 billion as of April 2017. Therefore, exports accounted for about 64.1% of total Singaporea­n economic output. From a continenta­l perspectiv­e, 74.5% of Singaporea­n exports by value are delivered to other Asian countries while 10.6% are sold to European importers. Singapore ships another 7.5% worth of products to North American clients with 2.1% going to Latin America (excluding Mexico) and the Caribbean. Given Singapore’s population of 5.8 million people, its total $329.9 billion in 2016 exports translates to roughly $57,000 for every resident in that country. Singapore’s unemployme­nt rate was 2.2% as of December 2016, up from 1.9% one year earlier according to Trading Economics. The following export product groups represent the highest dollar value in Singaporea­n global shipments during 2016. Also shown is the percentage share each export category represents in terms of overall exports from Singapore.

• Electrical machinery, equipment: US$114.8 billion (34.8% of total exports)

• Machinery including computers: $49.2 billion (14.9%)

• Mineral fuels including oil: $37.5 billion (11.4%)

• Optical, technical, medical apparatus: $15.7 billion (4.8%)

• Organic chemicals: $15.3 billion (4.6%)

• Plastics, plastic articles: $13.1 billion (4%)

• Gems, precious metals: $8.6 billion (2.6%)

• Aircraft, spacecraft: $6.7 billion (2%)

• Pharmaceut­icals: $5.6 billion (1.7%)

• Other chemical goods: $5.2 billion (1.6%) Optical, technical and medical apparatus was the fastest-growing among the top 10 export categories, up 104.3% for the 7-year period starting in 2009. In second place for improving export sales was the plastics category which appreciate­d by 78.9%. Miscellane­ous chemical goods posted the third-fastest gain in value up 70.4%. Mineral fuels including oil was the only declining category from 2009 to 2016 via its -8.9% slowdown.

Singapore’s Top 10 Imports

Singapore imported US$283 billion worth of goods from around the globe in 2016, up by 15.1% since 2009 but down by -4.6% from 2015 to 2016. Singapore’s top 10 imports accounted for over four-fifths (81%) of the overall value of its product purchases from other countries. Singaporea­n imports represent 1.7% of total global imports which totaled $16.473 trillion for 2016. From a continenta­l perspectiv­e, 68.6% of Singapore’s total imports by value in 2016 were purchased from other Asian countries. European trade partners supplied 16.2% of Singapore’s import purchases while 12% worth of goods originated from North America. Smaller percentage­s came from Latin America excluding Mexico plus the Caribbean (1.1%) and Africa (0.8%). Given Singapore ‘s population of 5.8 million people, its total $283 billion in 2016 imports translates to roughly $49,000 in yearly product demand from every person in the country. The following product groups represent the highest dollar value in Singapore’s import purchases during 2016. Also shown is the percentage share each product category represents in terms of overall imports into Singapore.

• Electrical machinery, equipment: US$84.9 billion (30% of total imports)

• Mineral fuels including oil: $51.1 billion (18%)

• Machinery including computers: $42.4 billion (15%)

• Gems, precious metals: $11.4 billion (4%)

• Optical, technical, medical apparatus: $11.1 billion (3.9%)

• Aircraft, spacecraft: $6.7 billion (2.4%)

• Plastics, plastic articles: $6.7 billion (2.4%)

• Vehicles : $5.5 billion (2%)

• Organic chemicals: $5.5 billion (1.9%)

• Other chemical goods: $4.1 billion (1.4%) Imported gems and precious metals was the fastest-growing top category over the 7-year period starting in 2009 up by 87%. Precious metals scrap, jewelry, silver and diamonds were the key drivers for this value improvemen­t. In second place for higher import purchases were plastics up by 75.7%. Close behind were Singaporea­n imports of optical, technical and medical apparatus up by 67.5% ($11.1 billion). Aircraft and spacecraft (down -13.9%) and mineral fuels including oil (down -13.2%) were the laggards. Please note that the results listed above are at the 2-digit Harmonized Tariff System code level. Informatio­n presented under other virtual folder tabs is at the more granular 4-digit level.

 ??  ?? Sentosa Island
Sentosa Island
 ??  ?? Orchard Road
Orchard Road
 ??  ?? Fort Canning Park
Fort Canning Park
 ??  ?? Singapore Zoo
Singapore Zoo
 ??  ?? Changi Chapel and Museum
Changi Chapel and Museum
 ??  ?? Chinatown
Chinatown
 ??  ?? Raffles Hotel
Raffles Hotel
 ??  ?? Gardens by the Bay
Gardens by the Bay
 ??  ?? Botanic Gardens
Botanic Gardens
 ??  ?? Singapore Flyer
Singapore Flyer
 ??  ?? Marina Bay Sands
Marina Bay Sands
 ??  ?? Lee Hsien Loong, 3rd Prime Minister of Singapore
Lee Hsien Loong, 3rd Prime Minister of Singapore

Newspapers in English

Newspapers from India