SINGAPORE (Dec 27): 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.