Singapore October 2023-

1880
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Fareed Zakaria: What America can learn from Singapore about racial integration
(25 June 2015)

(FT) After nearly 20 years in power, Lee Hsien Loong, son of Singapore’s founding father Lee Kuan Yew, will step down on May 15 as prime minister. Deputy PM and Finance Minister Lawrence Wong, Lee’s heir apparent for the past two years, will take the job. After almost six decades of political dominance by the People’s Action Party, Singapore may have its first genuinely competitive elections as early as later this year as the party becomes less popular.

11 April
Singapore tightens rules for expat workers with an eye on local discontent
The city-state is raising the salary threshold for foreigners to get a work permit amid stiff local competition for jobs.
(Al Jazeera) One of the world’s most open economies is attempting a delicate balancing act.
On the one hand, the Southeast Asian city-state wants to lure the world’s best and brightest to bolster its workforce, one of Asia’s most diverse.
On the other hand, it has to assure locals competing with foreigners for jobs that the system works for them, too, nipping potential resentment or xenophobia in the bud.
From next year, the government will tweak that calculus in favour of locals by raising the salary threshold for foreigners seeking approval to work in the city-state.
Last month, Singapore’s Ministry of Manpower announced that new applicants for the Employment Pass (EP) system will have to earn at least 5,600 Singapore dollars ($4,140) per month, up from 5,000 Singapore dollars ($3,700).
Analysts said the changes were not surprising for a government that has regularly tweaked the rules for expat workers, most recently in September 2022, when it raised the salary threshold by 500 Singapore dollars ($370).

1- 4 March
Singapore’s minister Shanmugam defends ‘helpful’ US envoy Jonathan Kaplan after scathing watchdog report
K Shanmugam’s comment comes after a US watchdog report noted Kaplan’s shortcomings including his ‘poor relationships with some ministries’
The minister says he has always found Kaplan to be ‘proactive’ and that the US envoy is committed to maintaining strong Singapore-US ties
US Ambassador to S’pore Jonathan Kaplan had ‘poor relationships’ with some ministries, says watchdog
(Straits Times) United States Ambassador to Singapore Jonathan Kaplan had “poor relationships” with some Singapore ministries, impeding America’s diplomatic goals, according to an official watchdog report.
“Multiple embassy sections noted that the ambassador developed poor relationships with some Singaporean ministries,” said a February 2024 report by the State Department’s Office of Inspector General (OIG) that was released on March 1.
In some cases, this hurt progress on diplomatic goals, the report noted, and it recommended further review of his conduct and performance.
US says it takes seriously reports of misbehavior by its envoy to Singapore
(Reuters) – The White House on Friday said the U.S. government was taking seriously an internal watchdog report that the U.S. ambassador to Singapore threatened his staff and failed to submit about $48,000 in travel expenses on time or with proper documentation.
Ambassador Jonathan Kaplan, a political appointee, had poor relations with some Singaporean ministries and was often unprepared on issues, the State Department’s Office of Inspector General (OIG) said in a report.
“OIG found the ambassador did not model integrity, plan strategically, collaborate, or communicate,” it said, urging the State Department to assess his leadership and management and, if appropriate, “take corrective action.”
“Numerous staff described a fear, and even direct threats, of reprisal from the Ambassador,” it said. “They described his mannerisms with personnel as belittling and intimidating.”

21 February
Even China’s Giants Are Picking Singapore Over Hong Kong for HQs
(BNN/Bloomberg) The international business community is clear on where it wants to call home in Asia: Singapore.
The city state hosted regional headquarters for 4,200 multinational firms in 2023, extending its lead and dwarfing the 1,336 found in Hong Kong, its main rival, according to a Bloomberg Intelligence report that details Singapore’s rise in the perennial battle to be known as Asia’s premier business destination. Even many Chinese companies seeking to hedge geopolitical risks and broaden their reach pick Singapore over Hong Kong, the report found.
“Hong Kong has lost the race to be international business’ preferred choice for Asia headquarters, as more global and even Chinese companies choose Singapore because of its better relations with the West, broader talent pool, diversified economy, and tax incentives,” according to the 50-page report. “Companies may rank Singapore higher in terms of political stability and freedom amid elevated geopolitical risks in the region.”
Hong Kong codified its position as China’s finance center by containing political protests and adhering to the country’s Covid-Zero policy during the pandemic, while Singapore highlighted its independence and emerged as the preferred site for international business offices, the report said. Even Hong Kong’s lower standard corporate tax rate of 16.5% may be bested by Singapore programs that can cut its 17% tax rate to 13.5% or less for some activities, it found.
A list of companies with regional headquarters in Singapore reads like a Who’s Who of multinationals: FedEx Corp., Microsoft Corp., Alphabet Inc.’s Google, Mead Johnson, Rolls-Royce and General Motors Co. Companies that operate in more sensitive environments — such as TikTok Inc. and the online fashion giant Shein — have business hubs in the Southeast Asian city. Chinese companies like electric-vehicle maker Nio Inc. are established in the city-state, while tech companies Alibaba Group Holding Ltd. and Huawei Technologies Co. are expanding operations there.
The corporate critical mass and more diversified economy could help Singapore attract even more global business than Hong Kong for the next five years, the Bloomberg Intelligence report said.

5 February
Singapore Sees Changi Airport Traffic Hitting Pre-Covid Levels This Year
Changi passenger volumes at 86% of pre-Covid levels in 2023
Construction of fifth airport terminal to start next year
For the full year of 2023, the airport handled 58.9 million passenger movements.
(Bloomberg) Singapore Changi Airport’s passenger volumes are expected to reach pre-pandemic levels in 2024, the country’s transport ministry said in a written response to parliamentary questions.
Monthly passenger traffic recovered to around 90% of pre-Covid levels in December. For the full year of 2023, the airport handled 58.9 million passenger movements, or 86% of traffic recorded in 2019, the ministry said.

18 January
Singapore minister charged with corruption resigns
(Reuters) – Singapore’s Transport Minister S. Iswaran was charged with 27 offences in a graft investigation, the anti-corruption agency said on Thursday, in one of the highest-profile cases involving a minister in the Asian financial hub in decades.
In a resignation letter dated Tuesday but published by the prime minister’s office on Thursday, Iswaran said he rejected the charges and “will now focus on clearing my name”.
The Corrupt Practices Investigation Bureau (CPIB) said Iswaran, who was arrested in July last year, was alleged to have obtained kickbacks worth S$384,340.98 ($286,181) from property tycoon Ong Beng Seng, partly to advance Ong’s business interests.
There was no immediate response to emails seeking comment from Ong’s office. The property tycoon was also arrested in July as part of the corruption probe. He has not been charged.
The case has gripped Singapore, a major Asian financial hub that prides itself on a squeaky clean government that is rarely affected by graft and scandals involving political leaders.

2023

5 December
Singapore’s Role as a Neutral Interpreter of China to the West
If the growing West-China division is to be bridged, the Western world needs a more nuanced interpretation of China. Singapore can play that role.
(The Diplomat) Western reportage of China has long suffered from an inherent bias against China. The Chinese government is perceived as an authoritarian, communist regime. These biases came to the fore in the accusations of “genocide” in Xinjiang, allegations of China’s unfair trade practices that necessitated U.S. trade tariffs, and most egregiously, the baseless theory that COVID-19 originated from a “lab leak” in Wuhan. If the growing West-China division is to be bridged, the Western world needs a more nuanced interpretation of China.
Singapore’s close relationship with both the West and China gives it a unique advantage as a more neutral interpreter of China for the Western world.

Singapore sets an example on AI governance
(GZERO AI) A lot of AI activities going on here at a conference organized by the Singaporese government that is looking at how to govern AI, the key question, million-dollar question, billion-dollar question that is on agendas for politicians, whether it is in cities, countries, or multilateral organizations. And what I like about the approach of the government here in Singapore is that they’ve brought together a group of experts from multiple disciplines, multiple countries around the world, to help them tackle the question of, what should we be asking ourselves? And how can experts inform what Singapore should do with regard to its AI policy? And this sort of listening mode and inviting experts first, I think is a great approach and hopefully more governments will do that, because I think it’s necessary to have such well-informed thoughts, especially while there is so much going on already. Singapore is thinking very, very clearly and strategically about what its unique role can be in a world full of AI activities.

3 December
How Suspects Laundered Billions in Singapore for Years
The city-state that’s embraced foreign wealth is reeling from an investigation that saw authorities seize cash, 62 cars, 152 properties and gold bars.
(Bloomberg) Wang Dehai was already on the run when he made Singapore his home five years ago. Police in China were offering a bounty for information about him for his alleged role in an illegal gambling ring.
Once in Singapore, Wang and his wife set up a family office and he got an employment pass, giving him the right to stay in the city-state. They banked with Credit Suisse, and the couple got passports from the tax haven of Cyprus. Wang, 34, splurged on a S$23 million ($17.2 million) condominium in the prime Orchard area and held about $2.8 million in cryptocurrency.
Wang’s idyllic world came crashing down in August when he was among 10 people of Chinese origin arrested and charged in the biggest money-laundering case the nation has ever seen. Authorities have seized more than S$2.8 billion in assets including gold bars, jewelry, 62 cars and 152 properties. The tally may rise, with many suspects still on the loose.
For decades, Singapore has taken steps to attract the uber rich, spawning a finance industry that’s made it one of the wealthiest countries on earth. Generous tax incentives and programs that offer pathways to long-term residency have paid off handsomely, prompting billionaires from James Dyson to Ray Dalio to set up family offices. Assets overseen by the money management sector have almost doubled in seven years to $3.65 trillion, with about three-quarters of that from abroad.
More recently, a wave of Chinese investors has arrived, fleeing strenuous pandemic restrictions and crackdowns that hit industries from technology to real estate. Singapore is a natural choice for them, as ethnic Chinese make up about three-quarters of the population and Mandarin is widely spoken. Since 2019, direct investment from mainland China and Hong Kong has risen 79% to S$19.3 billion. Private wine bars and country clubs have benefited from the surge in spending.

15 October
Singapore’s $20 Million Shophouses Are Blazing-Hot Properties
(Bloomberg) “Everything is new in Singapore except for shophouses, so in a way these are works of art — every shophouse has a different way of expressing itself, a different facade. These are spaces that we can never re-create.”
In the island nation’s real estate market, the distinctive two- to three-story row buildings can fetch $4,000 a square foot.

16 September
The Interlace apartments, Singapore, by OMA/Ole Scheeren – high-end design that’s affordable (YouTube)
The Interlace apartments feature stacked building blocks in an hexagonal pattern, and offers affordable housing in Singapore
With its 31 stacked blocks and hexagonal plan, the Interlace is far from standard tower block design
The Interlace, an apartment complex in Singapore by OMA
(Trends) This Singapore project proves that innovative architecture is not the sole prerogative of an elite few. Rather, it can be accessible to a much wider market in this case more than 1000 households.
The Interlace, developed by CapitaLand Singapore, was designed by architect Ole Scheeren working for OMA. The design brief was straightforward the development needed to create an iconic urban habitat of the future, says Wong Heang Fine, chief executive officer of CapitaLand Singapore (Residential).
“This was always going to be an exemplary development that would promote a sustainable, highly accessible and eco-friendly living environment, with a strong sense of community,” he says. “We set out to create an outstanding design for a development that is not only within reach of those who aspire to own a private residential unit, but also those who aspire to a unique lifestyle.”
The design was driven by many factors, including the shape of the 8ha site, which completes a 9km green belt. It was also determined by the need to maximise opportunities for social interaction.