Singapore and Malaysia — Old neighbours, new normal

This past year, Singapore was in high gear for political renewal. Heng Swee Keat was appointed deputy prime minister and is seen as the prime minister in waiting — Lee Hsien Loong has long announced his intention to step down after the next general election.

In the meantime, the country is continuing with major infrastructure projects. For example, the ground-breaking of the Tuas megaport was held, and Changi Airport’s fancy new mall Jewel was opened. The two integrated resorts, more than a decade old already, announced multibillion-dollar rejuvenation and expansion plans — all these are meant to help Singapore’s economy remain competitive in the post-Lee era.

The stock market continued to deal with old issues. The trial of John Soh and Quah Su-Ling, alleged masterminds of the 2013 penny stock saga, is set to continue into 2020, even though criminal proceedings started in November 2016. Earlier this year, Goh Hin Calm, the so-called “treasurer” to Soh and Quah, pleaded guilty and presumably will become a prosecution witness.

Across the Causeway, the Pakatan Harapan government, led by 94-yearold Dr Mahathir Mohamad, is trying to clean up the 1MDB mess left behind by former prime minister Najib Razak, while alleged mastermind Jho Low remains at large. At the very least, Najib’s trial is ongoing and proceedings have started against other non-Malaysian entities and individuals involved, such as the former Goldman Sachs bankers as well as the alleged accomplices from Abu Dhabi.

In addition, close neighbours Singapore and Malaysia continue to learn new ways to deal with the other, or unlearn the playbook. For both countries, 2020 will be a year of unfinished business.