142-643: Raffles Place is the centre of the Financial District of Singapore and is located south of the mouth of the Singapore River . It was first planned and developed in the 1820s as Commercial Square to serve as the hub of the commercial zone of Singapore in Raffles Town Plan . It was renamed Raffles Place in 1858 and is now the site of a number of major banks. It is located in the Downtown Core within
284-479: A Vietnamese source from the same time period. The name possibly means Sea Town , being derived from the Malay tasek , meaning 'sea' or 'lake'. The Chinese traveller Wang Dayuan visited a place around 1330 named Danmaxi ( Chinese : 淡馬錫 ; pinyin : Dànmǎxí ; Wade–Giles : Tan Ma Hsi ) or Tam ma siak , depending on pronunciation; this may be a transcription of Temasek , alternatively, it may be
426-438: A home-ownership rate of 88 percent. Singaporeans enjoy one of the longest life expectancies , fastest Internet connection speeds , lowest infant mortality rates , and lowest levels of corruption in the world. It has the third highest population density of any country in the world , although there are numerous green and recreational spaces as a result of urban planning . With a multicultural population and in recognition of
568-657: A representative office in Toronto on 8 September 1992. BOCC was incorporated as a subsidiary of BOC in 1993 under Schedule II of the Bank Act . BOCC provides the following types of banking services in Canada : bank accounts to both personal and commercial banking clients, remittance services (including bank drafts and wire transfers ), loans and mortgages , foreign exchange services , and China visa application assistance services where by it acts as agent, however plans for
710-524: A snap election ). The 14th and current Parliament has 103 members; 93 were directly elected from the 31 constituencies , nine are nonpartisan nominated members appointed by the president, and three are non-constituency members from opposition parties who were not elected in the last general election but appointed to the legislature to increase opposition party representation. In group representation constituencies (GRCs), political parties assemble teams of candidates to contest elections. At least one MP in
852-812: A supermajority in Parliament . One of the five founding members of ASEAN , Singapore is also the headquarters of the Asia-Pacific Economic Cooperation Secretariat, the Pacific Economic Cooperation Council Secretariat, and is the host city of many international conferences and events . Singapore is also a member of the United Nations , the World Trade Organization , the East Asia Summit ,
994-695: A China Visa Application Centre are being made and it is anticipated that the Consulate General of the People's Republic of China in Toronto will entrust all future China Visa applications to Bank of China Canada's Visa Application Centre. In Canada , BOCC has ten locations located in Markham , Toronto (several branches, in downtown, North York and Scarborough], Mississauga , Vancouver , Montreal , and Calgary . It previously had branches in Burnaby and Richmond. As well,
1136-530: A GRC must be of an ethnic minority background. All elections are held using first-past-the-post voting . MPs host weekly political surgeries , called " Meet-the-People Sessions ", where they help constituents resolve personal issues which can be related to housing, financial assistance, and immigration. The People's Action Party occupies a dominant position in Singaporean politics, having won large parliamentary majorities in every election since self-governance
1278-601: A Muslim state, the soldiers rebelled, killing their officers and several British civilians before the mutiny was suppressed by non-Muslim troops arriving from Johore and Burma . After World War I , the British built the large Singapore Naval Base as part of the defensive Singapore strategy . Originally announced in 1921, the construction of the base proceeded at a slow pace until the Japanese invasion of Manchuria in 1931. Costing $ 60 million and not fully completed in 1938, it
1420-1040: A branch in Brunei, and opened a branch in Mauritius becoming the first Chinese-funded bank in Mauritius. In 2017, it received permission to operate a deposit bank in Turkey , and in October 2017, opened its first branch in Pakistan in Karachi. The BoC is the most globally-active of China's banks, with branches on every inhabited continent. As of 2017, BOC operated outside of mainland China in 27 countries and areas including Australia, Canada , United Kingdom, Ireland, France, Germany, Italy, Luxembourg , Russia, Hungary, United States, Panama , Brazil, Japan, Republic of Korea , Singapore , Taiwan , Philippines , Vietnam , Malaysia , Thailand , Indonesia , Kazakhstan , Bahrain , Zambia , South Africa , and
1562-789: A branch in Stockholm in 2012, and in Lisbon in 2013. During the 2013 Korean crisis , the Bank of China halted business with a North Korean bank accused by the United States of financing Pyongyang's missile and nuclear programs. New branch opened in Montreal. The Canadian arm of the Bank of China now has 10 branches across Canada, including five in the Greater Toronto Area and three in Vancouver. In 2015,
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#17328479896651704-611: A branch office in the Cayman Islands . Even so, its operations outside China accounted for less than 4% of the activity of the bank by both profits and assets. In 2019, the Bank set up its current think-tank body, the Bank of China Research Institute. In 2022, the BoC was ranked #42 among global institutions by Fortune magazine. As of January 2024, the BoC planned to sell a new category of total loss-absorbing capacity (TLAC) bonds worth 150 billion yuan ($ 21 billion). This would make it
1846-481: A candidate needs to be a person at least 45 years of age who is no longer a member of a political party, to either have held public office for at least 3 years in a number of specific public service leadership roles, or to have 3 years experience as chief executive of a fully profitable private sector company with at least S$ 500 million in shareholders' equity , be a resident in Singapore for at least 10 years, not have
1988-567: A combination of the Malay Tanah meaning 'land' and Chinese xi meaning 'tin', which was traded on the island. Variations of the name Siṃhapura were used for a number of cities throughout the region prior to the establishment of the Kingdom of Singapura . In Hindu–Buddhist culture , lions were associated with power and protection, which may explain the attraction of such a name. The name Singapura supplanted Temasek sometime before
2130-597: A communist takeover. On 27 May 1961, Malaya's prime minister, Tunku Abdul Rahman , made a surprise proposal for a new Federation called Malaysia , which would unite the current and former British possessions in the region: the Federation of Malaya , Singapore, Brunei , North Borneo , and Sarawak . UMNO leaders believed that the additional Malay population in the Bornean territories would balance Singapore's Chinese population. The British government, for its part, believed that
2272-575: A criminal record, and more. Candidates must also "satisfy" the Presidential Elections Committee (PEC) that he or she is a person of integrity, good character and reputation. From 2017, the Constitution requires that presidential elections be " reserved " for a racial community if no one from that ethnic group has been elected to the presidency in the five most recent terms. Only members of that community may qualify as candidates in
2414-455: A cut from customers. In response, amendments were made to the Women's Charter by the government in 2019 to legislate more serious punishments for traffickers, including imprisonment of up to seven years and a fine of S$ 100,000. Singapore has a highly developed market economy , based historically on extended entrepôt trade. Along with Hong Kong , South Korea , and Taiwan , Singapore is one of
2556-513: A handful of Chinese . By 1860 the population had swelled to over 80,000, more than half being Chinese . Many of these early immigrants came to work on the pepper and gambier plantations. In 1867, the Straits Settlements were separated from British India , coming under the direct control of Britain . Later, in the 1890s, when the rubber industry became established in Malaya and Singapore,
2698-458: A local medical degree can opt to defer their draft. Though not required to perform military service, the number of women in the SAF has been increasing: since 1989 they have been allowed to fill military vocations formerly reserved for men. Before induction into a specific branch of the armed forces, recruits undergo at least nine weeks of basic military training. Because of the scarcity of open land on
2840-630: A mezzanine floor of MacDonald House exploded, killing three people and injuring 33 others. It was the deadliest of at least 42 bomb incidents which occurred during the confrontation. Two members of the Indonesian Marine Corps , Osman bin Haji Mohamed Ali and Harun bin Said , were eventually convicted and executed for the crime. The explosion caused US$ 250,000 (equivalent to US$ 2,417,107 in 2023) in damages to MacDonald House. Even after
2982-691: A newly independent country. After being expelled from Malaysia, Singapore became independent as the Republic of Singapore on 9 August 1965, with Lee Kuan Yew and Yusof bin Ishak as the first prime minister and president respectively. In 1967, the country co-founded the Association of Southeast Asian Nations (ASEAN). Race riots broke out once more in 1969. Lee Kuan Yew's emphasis on rapid economic growth, support for business entrepreneurship, and limitations on internal democracy shaped Singapore's policies for
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#17328479896653124-588: A reserved presidential election. In the 2017 presidential election , this combination of stringent requirements and a reserved election that required the candidate to be of the 13% Malay ethnic group led to the PEC approving a single candidate for the presidency; Halimah Yacob , considered part of the Malay community, won in an uncontested election. She also became Singapore's first female president. Members of Parliament (MPs) are elected at least every five years (or sooner with
3266-582: A ruling compelling Bank of China to provide discovery. In 2012, the families of eight terror victims of the 2008 Mercaz HaRav massacre in Jerusalem filed a $ 1 billion lawsuit against the Bank of China. The suit asserted that in 2003 the bank's New York branch wired millions of dollars to Hamas from its leadership in Syria and Iran . The Bank of China subsequently denied providing banking services to terrorist groups: "The Bank of China has always strictly followed
3408-421: A strange beast on the island that he took to be a lion. Seeing this as an omen, he established the town of Singapura where he encountered the beast. The second hypothesis, drawn from Portuguese sources , postulates that this mythical story is based on the real life Parameswara of Palembang . Parameswara declared independence from Majapahit and mounted a Lion Throne. After then being driven into exile by
3550-689: Is also a founding member of The Forum of Small States (FOSS) , a voluntary and informal grouping at the UN. Singapore maintains membership in other regional organisations, such as Asia–Europe Meeting , the Forum for East Asia-Latin American Cooperation , the Indian Ocean Rim Association , and the East Asia Summit . It is also a member of the Non-Aligned Movement, the United Nations and
3692-485: Is built in 1826 and currently managed by Ngee Ann Kongsi is also located near Raffles Place. The underground Mass Rapid Transit station, the Raffles Place MRT station , lies directly underneath the centre of Raffles Place, and is one of the primary public transport links for Raffles Place into Singapore's transport system . Bus services also run along Raffles Place. Singapore Singapore , officially
3834-651: Is licensed to issue banknotes in two of China's Special Administrative Regions . Until 1942, the Bank of China issued banknotes in mainland China on behalf of the Government of the Republic of China. Today, the Bank issues banknotes in Hong Kong and banknotes in Macau (under the Portuguese name "Banco da China, Sucursal de Macau" ), along with other commercial banks in those regions. As of 30 September 2015, largest shareholders of
3976-670: Is maintaining security in Southeast Asia and surrounding territories. An underlying principle is political and economic stability in the region. It has diplomatic relations with more than 180 sovereign states. As one of the five founding members of ASEAN , Singapore is a strong supporter of the ASEAN Free Trade Area (AFTA) and the ASEAN Investment Area (AIA); it is also the host of the APEC Secretariat. Singapore
4118-551: Is one of the " big four " banks in China. As of 31 December 2019, it was the second-largest lender in China overall and ninth-largest bank in the world by market capitalization value, and it is considered a systemically important bank by the Financial Stability Board . As of the end of 2020, it was the fourth-largest bank in the world in terms of total assets, ranked after the other three Chinese banks. The Bank of China
4260-695: Is regarded as a key factor behind Singapore's political stability, economic growth, and harmonious social order. In 2021, the World Justice Project 's Rule of Law Index ranked Singapore as 17th overall among the world's 193 countries for adherence to the rule of law . Singapore ranked high on the factors of order and security (#3), absence of corruption (#3), regulatory enforcement (#4), civil justice (#8), and criminal justice (#7), and ranked significantly lower on factors of open government (#34), constraints on government powers (#32), and fundamental rights (#38). Singapore's stated foreign policy priority
4402-487: Is the only country in Asia with a AAA sovereign credit rating from all major rating agencies . It is a major aviation , financial , and maritime shipping hub and has consistently been ranked as one of the most expensive cities to live in for expatriates and foreign workers . Singapore ranks highly in key social indicators: education , healthcare , quality of life , personal safety , infrastructure , and housing , with
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4544-464: Is the right policy and that there is "clear evidence" of serious deterrence , and that the law should be looked at upon in the wider context of "saving lives", particularly citizens. In 2004, Amnesty International claimed that some legal provisions of the Singapore system for the death penalty conflict with "the right to be presumed innocent until proven guilty". The government has disputed Amnesty's claims, stating that their "position on abolition of
4686-531: The 1964 race riots . On 7 August 1965, Malaysian prime minister Tunku Abdul Rahman, seeing no alternative to avoid further bloodshed (and with the help of secret negotiations by PAP leaders, as revealed in 2015) advised the Parliament of Malaysia that it should vote to expel Singapore from Malaysia. On 9 August 1965, the Malaysian Parliament voted 126 to 0 to move a bill to amend the constitution, expelling Singapore from Malaysia, which left Singapore as
4828-597: The 2004 Indian Ocean earthquake and tsunami . Since 2009, the Republic of Singapore Navy (RSN) has deployed ships to the Gulf of Aden to aid in countering piracy efforts as part of Task Force 151 . The SAF also helped in relief efforts during Hurricane Katrina , and Typhoon Haiyan . Singapore is part of the Five Power Defence Arrangements (FPDA), a military alliance with Australia, Malaysia, New Zealand, and
4970-480: The Asiatic Banking Corporation . At the turn of the 20th century, the banking industry in Singapore took off. Home-grown banks came into play, competing against bigger banks with lower interest rates and a cultural affinity with their customers. From the 1950s, banking in Singapore entered a new league, with Bank of America establishing itself here in 1955 at 31 Raffles Place, and Bank of China at
5112-525: The Boat Quay and Circular Road area. Commercial Square was created as an open space 200 yards long by 50 yards wide, with a small garden in the middle. Land in the area around the square was sold in lots through auction at $ 1,200 and $ 1,500 apiece. Commercial enterprises were established in the area; two- and four- storey buildings were built around the square, housing mercantile offices, banks and other financial companies. On 8 March 1858, Commercial Square
5254-618: The British Empire . In 1867, Singapore came under the direct control of Britain as part of the Straits Settlements . During World War II , Singapore was occupied by Japan in 1942 and returned to British control as a separate Crown colony following Japan's surrender in 1945. Singapore gained self-governance in 1959 and, in 1963, became part of the new federation of Malaysia , alongside Malaya , North Borneo , and Sarawak . Ideological differences led to Singapore's expulsion from
5396-513: The Central Area , and features some of the tallest buildings and landmarks of the country. The founder of modern Singapore, Sir Stamford Raffles , intended Singapore to become a "great commercial emporium ". As part of his plan, he gave instructions in 1822 that a commercial area be created on the southwest side of the Singapore River. The Garrison Engineer Lieutenant R.N. Philip Jackson ,
5538-713: The Commonwealth . While Singapore is not a formal member of the G20 , it has been invited to participate in G20 processes in most years since 2010. Singapore is also the location of the Pacific Economic Cooperation Council (PECC) Secretariat. In general, bilateral relations with other ASEAN members are strong; however, disagreements have arisen, and relations with neighbouring Malaysia and Indonesia have sometimes been strained. Malaysia and Singapore have clashed over
5680-490: The Digital and Intelligence Service . It is seen as the guarantor of the country's independence, translating into Singapore culture, involving all citizens in the country's defence. The government spent 2.7% of the country's GDP on the military in 2024, the highest in the region. After its independence, Singapore had only two infantry regiments commanded by British officers. Considered too small to provide effective security for
5822-611: The Four Asian Tigers , and has surpassed its peers in terms of Gross Domestic Product (GDP) per capita. Between 1965 and 1995, growth rates averaged around 6 per cent per annum, transforming the living standards of the population. Bank of China The Bank of China ( BOC ; Chinese : 中国银行 ; pinyin : Zhōngguó Yínháng ; Portuguese : Banco da China ) is a state-owned Chinese multinational banking and financial services corporation headquartered in Beijing, China . It
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5964-524: The Hong Kong Stock Exchange in October 2002. Two-thirds of its share capital are in free float . The bank's headquarters in Hong Kong are located in the Bank of China Tower , designed by the renowned architect I.M. Pei , and was opened to the public in 1990 as the tallest building in Hong Kong at that time. It listed on the Hong Kong Stock Exchange (independently from BOCHK) (SEHK:3988) by floating
6106-488: The Javanese , he usurped control over Temasek . He may have rechristened the area as Singapura , recalling the throne he had been driven from. Under Japanese occupation , Singapore was renamed Syonan-to ( Japanese : 昭 南 , Hepburn : Shōnan ) , meaning 'light of the south'. Singapore is sometimes referred to by the nickname the "Garden City", in reference to its parks and tree-lined streets. Another informal name,
6248-459: The MATADOR anti-tank weapon. The SAF is being developed to respond to a wide range of issues in both conventional and unconventional warfare. The Defence Science and Technology Agency (DSTA) is responsible for procuring resources for the military. The geographic restrictions of Singapore mean that the SAF must plan to fully repulse an attack, as they cannot fall back and re-group. The small size of
6390-587: The Non-Aligned Movement , and the Commonwealth of Nations . The English name of "Singapore" is an anglicisation of the native Malay name for the country, Singapura ( pronounced [siŋapura] ), which was in turn derived from the Sanskrit word for 'lion city' ( Sanskrit : सिंहपुर ; romanised: Siṃhapura ; Brahmi : 𑀲𑀺𑀁𑀳𑀧𑀼𑀭 ; literally "lion city"; siṃha means 'lion', pura means 'city' or 'fortress'). Pulau Ujong
6532-634: The Qing government established the Da-Qing Bank in Beijing . When the Republic of China was established in 1912, Chen Jintao was named head of financial reform in President Sun Yat-sen 's government and reorganized the Da-Qing Bank into the Bank of China, of which he has subsequently been viewed as the founder. In 1917, Tsuyee Pei opened the branch of the Bank of China in Hong Kong. In 1928,
6674-413: The Republic of Singapore , is an island country and city-state in Southeast Asia . The country's territory comprises one main island , 63 satellite islands and islets , and one outlying islet . It is about one degree of latitude (137 kilometres or 85 miles) north of the equator , off the southern tip of the Malay Peninsula , bordering the Strait of Malacca to the west, the Singapore Strait to
6816-420: The Republic of Singapore Air Force (RSAF) maintains a number of overseas bases in Australia , the United States , and France . The RSAF's 130 Squadron is based in RAAF Base Pearce , Western Australia , and its 126 Squadron is based in the Oakey Army Aviation Centre , Queensland . The RSAF has one squadron—the 150 Squadron—based in Cazaux Air Base in southern France. The RSAF's overseas detachments in
6958-463: The Shanghai A Stock Exchange for RMB20 billion (US$ 2.5 billion). BOC also bought Singapore Airlines 's stake in Singapore Aircraft Leasing Enterprise , renaming it BOC Aviation in 2007. Mainland China accounted for 60% of the bank by profits and 76% by assets as at December 2005. In 2008, BOC acquired a 20 percent stake in the Compagnie Financière Edmond de Rothschild (LCFR) for 236.3 million euros (US$ 340 million). In 2009,
7100-403: The Speakers' Corner . In the Corruption Perceptions Index , which ranks countries by "perceived levels of public sector corruption", Singapore has consistently ranked as one of the least corrupt countries in the world, in spite of being illiberal. Singapore's unique combination of a strong, soft authoritarian government with an emphasis on meritocracy is known as the "Singapore model", and
7242-401: The Strait of Malacca has been a cause of concern for all three countries. Close economic ties exist with Brunei , and the two share a pegged currency value, through a Currency Interchangeability Agreement between the two countries which makes both Brunei dollar and Singapore dollar banknotes and coins legal tender in either country. The first diplomatic contact with China was made in
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#17328479896657384-424: The Westminster tradition of unicameral parliamentary government, and its legal system is based on common law . While the country is de jure a multi-party democracy with free elections , the government under the People's Action Party (PAP) wields widespread control and political dominance . The PAP has governed the country continuously since full internal self-government was achieved in 1959, and holds
7526-541: The free float is over 26%. In December 2010, the New York branch of the BoC began offering renminbi products for Americans. It was the first major Chinese bank to offer such a product. A list published in 2011 by Forbes ranked the BoC as the 4th-largest company in the world. In 2012, the BOC opened a branch in Taiwan . The opening was seen as a symbol of deepening economic ties across Taiwan Strait Bank of China (M) Bhd opened its 6th branch in Malaysia at Tower 2, PFCC, Bandar Puteri Puchong in 2012. BOC also opened
7668-401: The " Little Red Dot ", was adopted after an article in the Asian Wall Street Journal of 4 August 1998 said that Indonesian President B. J. Habibie referred to Singapore as a red dot on a map. In 1299, according to the Malay Annals , the Kingdom of Singapura was founded on the island by Sang Nila Utama . Although the historicity of the accounts as given in the Malay Annals is
7810-439: The "benevolent" yet "highly authoritarian" colonial system of governance inherited from Britain rather than forging a full democracy. A conservative ideology of " Asian values " evolved to replace British rule, based on "communal loyalty, distrust of government, and avoidance of individual or collective responsibility for wider public interests", with less regard for human rights in the nascent Western sense. The fact that "neither
7952-422: The 15th century, after the establishment of the Kingdom of Singapura on the island by a fleeing Sumatran Raja (prince) from Palembang . However, the precise time and reason for the name change is unknown. The semi-historical Malay Annals state that Temasek was christened Singapura by Sang Nila Utama , a 13th-century Sumatran Raja from Palembang . The Annals state that Sang Nila Utama encountered
8094-453: The 1911 facade of the old John Little building. Raffles Place is now dominated by skyscrapers , many of them among the tallest buildings in Singapore where flagship banks are located. United Overseas Bank tower was completed in 1974 on the old Bonham Building site, later renovated and expanded into UOB Plaza . Other towers such as Singapore Land Tower , Clifford Centre, Ocean Building, OUB Centre , and Republic Plaza have also replaced
8236-532: The 1970s, with full diplomatic relations established in the 1990s. China has been Singapore's largest trading partner since 2013, after surpassing Malaysia. Singapore and the United States share a long-standing close relationship, in particular in defence, the economy, health, and education. Singapore has also increased co-operation with ASEAN members and China to strengthen regional security and fight terrorism, and participated in ASEAN's first joint maritime exercise with China in 2018. It has also given support to
8378-414: The BOC gained entry to the London Bullion Market Association gold price auction. At the time, it was one of eight members to the auction. That same year, the BOC opened two global commodity centres in Singapore, becoming the first Chinese bank to do so outside China. Between 2015 and 2020, the BOC lent over US$ 185.1 for Belt and Road Initiative projects. In 2016, the BOC received permission to open
8520-414: The BOC's listing on the Hong Kong Stock Exchange was the largest IPO since 2000 and the fourth largest IPO ever, raising some US$ 9.7 billion in the H-share Global Offering. The Over-Allotment Option was then exercised on 7 June 2006, raising the total value of their IPO to US$ 11.2 billion. BOC also made a successful IPO in mainland China on 5 July 2006, offering up to 10 billion A-shares on
8662-516: The Bank of China ordinary shares (both A shares and H shares ) were: As of 30 September 2015, largest shareholders of the Bank of China preference shares (both domestic and offshore) were: After COVEC withdrew from completing its construction of the A2 highway in Poland, Bank of China was to pay a performance guarantee to the Polish government's road organization GDDKiA . However, with Export-Import Bank of China , they refused to pay this; only Deutsche Bank honoured its obligations under
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#17328479896658804-420: The Chief Engineer George Collyer who initiated its construction. The expansion freed up a larger area designated for commerce, and attracted more businesses such as retail stores and banks to the area. The area become the location for well-known retail stores in the 19th century. John Little , Singapore's oldest department store , was established on 30 August 1842 on Commercial Square. Robinsons , another of
8946-401: The East", and military discussions often referred to the base as simply " East of Suez ". However, the British Home Fleet was stationed in Europe, and the British could not afford to build a second fleet to protect their interests in Asia. The plan was for the Home Fleet to sail quickly to Singapore in the event of an emergency. As a consequence, after World War II broke out in 1939, the fleet
9088-478: The Hanoi agency to Saigon . At the suggestion of the Allied Forces Headquarters, it liquidated the branch in Osaka, Japan and opened a sub-branch in Tokyo. In 1947, the bank opened agencies in Bangkok , Chittagong , and Tokyo. In 1950, following the victory of Communist forces in the civil war, some of the BOC's overseas branches (e.g. Hong Kong, Singapore, London, Penang, Kuala Lumpur, Jakarta, Calcutta, Bombay, Chittagong, and Karachi) of Bank of China remained with
9230-400: The Japanese changed its image in the eyes of Singaporeans. British Military Administration ended on 1 April 1946, and Singapore became a separate Crown Colony . In July 1947, separate Executive and Legislative Councils were established and the election of six members of the Legislative Council was scheduled for the following year. During the 1950s, Chinese communists , with strong ties to
9372-522: The Japanese conquest of Southeast Asia forced the BOC to close all its overseas branches, agencies, sub-branches and sub-agencies, except London, New York, Calcutta, and Bombay. Nevertheless, in 1942, it managed to set up six new overseas branches, such as in Sydney , (Australia), Liverpool , and Havana , and possibly Karachi . Following the end of World War II , the Bank of China in 1946 reopened its branches and agencies in Hong Kong, Singapore, Haiphong, Rangoon, Kuala Lumpur, Penang, and Jakarta. It moved
9514-419: The PAP drop to 61% of the vote, while the Workers' Party took 10 of the 93 seats, the highest number ever won by another party. On 15 May 2024, Lawrence Wong became Singapore's fourth Prime Minister; he is the first prime minister born after independence. Singapore is a parliamentary republic based on the Westminster system . The Constitution of Singapore is the supreme law of the country, establishing
9656-514: The People's Action Party has led to Singapore being described by academics as an illiberal democracy , or a soft-authoritarian state in which the PAP faces little to no feasible political competition to its rule of the country. The multi-party democratic process of Singapore has been described as "minimal" in comparison to the state's focus on economic development and social order. According to Gordon P. Means, professor emeritus of political science at McMaster University , Singapore reinvented
9798-414: The Raffles Place area to locations such as High Street, North Bridge Road and Orchard Road , and were replaced by finance houses and major banks. The Whiteaway Laidlaw department store building on Battery Road was taken over by Malayan Bank in 1962, and it was later demolished to make way for the Maybank Tower in 1998. Robinsons moved to Orchard Road after its landmark building was destroyed in one of
9940-475: The Singapore Government to create the Singapore Armed Forces (SAF) from scratch, and Israeli instructors were brought in to train Singaporean soldiers. Military courses were conducted according to the IDF's format, and Singapore adopted a system of conscription and reserve service based on the Israeli model . Singapore still maintains strong security ties with Israel and is one of the biggest buyers of Israeli arms and weapons systems, with one recent example being
10082-412: The Temenggong's help, Raffles managed to smuggle Tengku Long back into Singapore. Raffles offered to recognise Tengku Long as the rightful Sultan of Johor, under the title of Sultan Hussein , as well as provide him with a yearly payment of $ 5000 and another $ 3000 to the Temenggong; in return, Sultan Hussein would grant the British the right to establish a trading post on Singapore. The Treaty of Singapore
10224-542: The US-led coalition to fight terrorism, with bilateral co-operation in counter-terrorism and counter-proliferation initiatives, and joint military exercises. As Singapore has diplomatic relations with both the United States and North Korea , and was one of the few countries that have relationships with both countries, in June 2018, it hosted a historic summit between US President Donald Trump and North Korean leader Kim Jong-un ,
10366-680: The United Kingdom. According to the 2024 Global Peace Index , Singapore is the 5th most peaceful country in the world. Capital punishment is a legal and enforced penalty in Singapore. The country is one of four in the developed world to retain the death penalty, along with the United States , Japan and Taiwan . Particularly, its use against drug trafficking has been a source of contention with non-governmental organisations such as Amnesty International and Human Rights Watch . The government has responded that it has "no doubts" that it
10508-741: The United States are: Luke Air Force Base in Arizona , Marana in Arizona, Mountain Home Air Force Base in Idaho , and Andersen Air Force Base in Guam . The SAF has sent forces to assist in operations outside the country, in areas such as Iraq , and Afghanistan , in both military and civilian roles. In the region, they have helped to stabilise East Timor and have provided aid to Aceh in Indonesia following
10650-456: The adjacent Battery Road . During World War II , Raffles Place was among the places hit by bombs when seventeen Japanese bombers conducted the first air raid on Singapore on 8 December 1941, during the Battle of Malaya . The Japanese occupation of Singapore temporarily halted the near-continuous commercial development of Raffles Place. In the 1960s and 1970s, retailers began to moved away from
10792-737: The bank continued activity in Taiwan where it renamed itself International Commercial Bank of China upon privatization in 1971, while its mainland operations were absorbed into the People's Bank of China (PBC). In 1979, the Bank of China was re-established by spin-off from the PBC in the early phase of Chinese economic reform . The Bank of China (Hong Kong) is the local subsidiary of the Bank of China, with which it maintains close relations in management and administration and co-operates in several areas including reselling BOC's insurance and securities services. In 1905,
10934-551: The bank is a member of the Canadian Bankers Association (CBA); registered member with the Canada Deposit Insurance Corporation (CDIC), a federal agency insuring deposits at all of Canada's chartered banks; and, a member of Interac , which handles transactions between automated teller machines of different banks and debit card transactions. Although it is not a central bank, the Bank of China
11076-915: The bank moved its head office from Beijing to Shanghai . In 1920, the bank opened the Investigative Office of the Bank of China. The Investigative Office was the earliest research body in China's banking sector. In 1929, the bank opened a branch in London, its first outside of China. The branch managed the government's foreign debt, became a center for the bank's management of its foreign exchange, and acted as an intermediary for China's international trade. In 1931, another overseas branch opened in Osaka , and in 1936 in Singapore (to handle remittances to China of overseas Chinese) as well as an agency in New York . In 1937, on
11218-489: The bank opened branches in São Paulo and Maputo , as well as Penang in October. As of 2009, the BoC was the second largest lender in China overall, and the fifth largest bank in the world by market capitalization value. Once 100% owned by the central government, via China Central Huijin and National Council for Social Security Fund (SSF), an Initial public offering (IPO) of its shares took place in June 2006; at present,
11360-501: The company, including a $ 3.1 billion investment by the Royal Bank of Scotland Group PLC and further investments by Swiss bank UBS AG and Temasek Holdings (who also promised to subscribe for an additional $ 500 million worth of shares during the IPO). The Bank was also investigated by the United States in its money laundering probe related to the superdollars affair. On 1 June 2006,
11502-602: The country's third prime minister. Lee Hsien Loong's tenure included the 2007–2008 financial crisis , the resolution of a dispute over land ownership at Tanjong Pagar railway station between Singapore and Malaysia, the introduction of the two integrated resorts (IRs), located at the Marina Bay Sands and Resorts World Sentosa , and the COVID-19 pandemic . The PAP suffered its worst ever electoral results in 2011, winning just 60% of votes, amidst debate over issues including
11644-638: The court decision. On 8 August 2008, the family of Daniel Wultz , an American teenager killed in a 2006 terrorist attack in Israel, filed suit against the Bank of China in U.S. District Court for the District of Columbia. The case was subsequently transferred to the United States District Court, Southern District of New York, where litigation continues. On 29 October 2012, the Honorable J. Scheindlin issued
11786-415: The cultural identities of the major ethnic groups within the nation, Singapore has four official languages : English , Malay , Mandarin , and Tamil . English is the common language , with exclusive use in numerous public services . Multi-racialism is enshrined in the constitution and continues to shape national policies in education, housing, and politics. Singapore is a parliamentary republic in
11928-744: The death penalty is by no means uncontested internationally" and that the report contains "grave errors of facts and misrepresentations". From 1938 to 2023, sexual relations between men were technically illegal under Section 377A of the Penal Code , first introduced during British colonial rule. During the last few decades, this law was mostly unenforced and pressure to repeal it increased as homosexuality became more accepted by Singaporean society. Meanwhile, sexual relations between women had always been legal. In 2022, Prime Minister Lee Hsien Loong announced that Singapore would repeal 377A, effectively decriminalising homosexual behaviour. Nevertheless, he added that
12070-579: The delivery of fresh water to Singapore, and access by the Singapore Armed Forces to Malaysian airspace. Border issues exist with Malaysia and Indonesia, and both have banned the sale of marine sand to Singapore over disputes about Singapore's land reclamation. Some previous disputes, such as the Pedra Branca dispute , have been resolved by the International Court of Justice . Piracy in
12212-410: The early department stores, was first established on Raffles Place in 1858 as a "family warehouse". Robinson's was then relocated elsewhere a few times before returning to Raffles Place in 1891. Whiteaway Laidlaw was first established on D'Almeida Street in 1900 before moving to Stamford House , then to Battery Road in 1910. The Alkaff Arcade, Singapore's first indoor shopping arcade that stretched from
12354-579: The end of the 14th century, its ruler Parameswara was attacked by either the Majapahit or the Siamese, forcing him to move to Malacca where he founded the Sultanate of Malacca . Archaeological evidence suggests that the main settlement on Fort Canning Hill was abandoned around this time, although a small trading settlement continued in Singapore for some time afterwards. In 1613, Portuguese raiders burned down
12496-690: The famous tourist icon the Merlion , and an ultra modern durian shaped Art Centre Esplanade Theatre are located nearby. The stock exchange of Singapore - the Singapore Exchange - is also located in the vicinity. Several key administrative buildings in Singapore, such as the Parliament House , the Supreme Court and City Hall are located north across the river, but are not part of Raffles Place. The oldest Teochew Temple, Yueh Hai Ching Temple which
12638-403: The federation two years later; Singapore became an independent sovereign country in 1965. After early years of turbulence and despite lacking natural resources and a hinterland , the nation rapidly developed to become one of the Four Asian Tigers . As a highly developed country , it has one of the highest GDP per capita (PPP) in the world. It is also identified as a tax haven . Singapore
12780-457: The fighting for Singapore were heavy, with a total of nearly 85,000 personnel captured. About 5,000 were killed or wounded, of which Australians made up the majority. Japanese casualties during the fighting in Singapore amounted to 1,714 killed and 3,378 wounded. The occupation was to become a major turning point in the histories of several nations, including those of Japan , Britain , and Singapore. Japanese newspapers triumphantly declared
12922-728: The first state-owned bank in the country to fill the funding gap by 2025. In June 2024, the BoC complied with global financial sanctions against the Russian invasion of Ukraine , and would no longer trade with sanctioned Russian banks. At the, time trade between Russia and China accounted for more than a third of all Russian exports. BOC started operations in Hong Kong in 1917. It became Hong Kong 's third note-issuing bank in 1994, and in Macau in 1995. In 2001, BOC regrouped its Hong Kong operations into Bank of China (Hong Kong) ; then BOCHK listed on
13064-765: The first-ever meeting between the sitting leaders of the two nations. It also hosted the Ma–Xi meeting in 2015, the first meeting between the political leaders of the two sides of the Taiwan Strait since the end of the Chinese Civil War in 1950. The Singaporean military, arguably the most technologically advanced in Southeast Asia, consists of the Army , the Navy , the Air Force and
13206-545: The formal surrender of Japanese forces in the region from General Seishirō Itagaki on behalf of General Hisaichi Terauchi on 12 September 1945. Meanwhile, Tomoyuki Yamashita was tried by a US military commission for war crimes, but not for crimes committed by his troops in Malaya or Singapore. He was convicted and hanged in the Philippines on 23 February 1946. Much of the infrastructure in Singapore had been destroyed during
13348-573: The head of Settlements at BOC, Chin Chuh Meng , was investigated involvement for Multi-Level Marketing Activities in Singapore, a scheme involving employees of the Bank of China and ex-Kwangtung Bank. In 2009, People's Park Remittance Centre opened in Singapore, while Sunday Banking Business ceased in Chinatown Sub-branch in Singapore. In 2005, in the runup to its initial public offering, BOC solicited long term investors to take strategic stakes in
13490-627: The influx of foreign workers and the high cost of living. On 23 March 2015, Lee Kuan Yew died , and a one-week period of public mourning was observed nationwide. Subsequently, the PAP regained its dominance in Parliament through the September general election , receiving 69.9% of the popular vote, although this remained lower than the 2001 tally of 75.3% and the 1968 tally of 86.7%. The 2020 election held in July saw
13632-439: The introduction of the non-constituency members of parliament in 1984 to allow up to three losing candidates from opposition parties to be appointed as MPs. Group representation constituencies (GRCs) were introduced in 1988 to create multi-seat electoral divisions, intended to ensure minority representation in parliament. Nominated members of parliament were introduced in 1990 to allow non-elected non-partisan MPs. The constitution
13774-532: The island became a global centre for rubber sorting and export. Singapore was not greatly affected by the First World War (1914–18), as the conflict did not spread to Southeast Asia . The only significant event during the war was the 1915 Singapore Mutiny by Muslim sepoys from British India, who were garrisoned in Singapore. After hearing rumours that they were to be sent to fight the Ottoman Empire ,
13916-466: The largest initial public offering (IPO) in the world by any institution since 2000 on 1 June 2006, raising US$ 9.7 billion. The IPO attracted HK$ 286 billion (US$ 36.7 billion) in retail orders and was the most heavily oversubscribed in the history of the Hong Kong Stock Exchange. The offer was around 76 times oversubscribed. Although some financial analysts advised caution due to
14058-490: The legal tradition established during British rule and with substantial local differences. Criminal law is based on the Indian Penal Code originally intended for British India , and was at the time as a crown colony also adopted by the British colonial authorities in Singapore and remains the basis of the criminal code in the country with a few exceptions, amendments and repeals since it came into force. Trial by jury
14200-477: The main island, training involving activities such as live firing and amphibious warfare are often carried out on smaller islands, typically barred to civilian access. However, large-scale drills, considered too dangerous to be performed in the country, have been performed in other countries such as Brunei, Indonesia, Thailand and the United States. In general, military exercises are held with foreign forces once or twice per week. Due to airspace and land constraints,
14342-553: The mainland bank headquartered in Beijing, while others (e.g. New York, Tokyo, Havana, Bangkok, and one other, possibly Panama) remained with the Bank of China headquartered in Taipei , which in 1971 took the new name International Commercial Bank of China ( 中國國際商業銀行 ). The Rangoon branch was nationalized in 1963 together with all other foreign and domestic banks in Burma. In 1971, China transferred
14484-463: The merger would prevent Singapore from becoming a haven for communism. To obtain a mandate for a merger, the PAP held a referendum on the merger . This referendum included a choice of different terms for a merger with Malaysia and had no option for avoiding merger altogether. On 16 September 1963, Singapore joined with Malaya, the North Borneo, and Sarawak to form the new Federation of Malaysia under
14626-661: The merger, the Singaporean government and the Malaysian central government disagreed on many political and economic issues. Despite an agreement to establish a common market, Singapore continued to face restrictions when trading with the rest of Malaysia. In retaliation, Singapore did not extend to Sabah and Sarawak the full extent of the loans agreed to for economic development of the two eastern states. Talks soon broke down, and abusive speeches and writing became rife on both sides. This led to communal strife in Singapore, culminating in
14768-886: The new BOC opened a branch in Luxembourg , which gradually became its European headquarters through the 1990s. In 1981 it opened a branch in New York, followed by Paris in 1985. In 1987, the BOC became an ordinary member of the LBMA . In 1992, it opened a representative office in Toronto , upgraded the next year as a Schedule II bank . During Reform and Opening Up , the Bank of China established its Institute of International Finance. The Institute performed research that influenced bank decisions and central government policy making. The BOC experiences challenges in Singapore . In 2001, Kwangtung Provincial Bank
14910-472: The new country, the development of its military forces became a priority. In addition, in October 1971, Britain pulled its military out of Singapore, leaving behind only a small British, Australian and New Zealand force as a token military presence. A great deal of initial support came from Israel , a country unrecognised by Singapore's neighbouring Muslim-majority nations of Malaysia and Indonesia. The Israel Defense Forces (IDF) commanders were tasked by
15052-731: The new port. The island was then nominally ruled by Tengku Abdul Rahman , the Sultan of Johor , who was controlled by the Dutch and the Bugis . However, the Sultanate was weakened by factional division: Abdul Rahman , the Temenggong of Johor to Tengku Abdul Rahman, as well as his officials, were loyal to the Sultan's elder brother Tengku Long , who was living in exile in Penyengat Island , Riau Islands . With
15194-407: The next half-century. Economic growth continued throughout the 1980s, with the unemployment rate falling to 3% and real GDP growth averaging at about 8% up until 1999. During the 1980s, Singapore began to shift towards high-tech industries, such as the wafer fabrication sector, in order to remain competitive as neighbouring countries began manufacturing with cheaper labour. Singapore Changi Airport
15336-460: The older buildings. The three tallest buildings in Singapore were located on Raffles Place the until the construction of Tanjong Pagar Centre in 2016. Several key buildings are located in Raffles Place, including UOB Plaza , One Raffles Place , Republic Plaza , Singapore Land Tower and OCBC Centre . The Fullerton Hotel Singapore , a hotel at the renovated old General Post Office building,
15478-552: The outbreak of hostilities with Japan, Japanese forces blockaded China's major ports. The Bank of China opened a number of branches in Batavia , Penang , Kuala Lumpur , Haiphong , Hanoi , Rangoon , Bombay , and Calcutta to facilitate the gathering of remittances and the flow of military supplies. It also opened sub-agencies in Surabaya , Medan , Dabo , Batu Pahat , Baichilu , Mandalay , Lashio , Ipoh , and Seremban . In 1941-1942,
15620-506: The population has also affected the way the SAF has been designed, with a small active force and a large number of reserves. Singapore has conscription for all able-bodied males at age 18, except those with a criminal record or who can prove that their loss would bring hardship to their families. Males who have yet to complete pre-university education, are awarded the Public Service Commission (PSC) scholarship, or are pursuing
15762-640: The press as well as some civil and political rights. In 2023, Singapore was ranked 129th out of 180 nations by Reporters Without Borders on the global Press Freedom Index . Freedom House ranks Singapore as "partly free" in its Freedom in the World report, and the Economist Intelligence Unit ranks Singapore as a "flawed democracy", the second freest rank of four, in its " Democracy Index ". All public gatherings of five or more people require police permits, and protests may legally be held only at
15904-442: The public nor elites had experience with democracy" helped create Singapore's political culture, as dominated by status-focused hierarchies committed to economic development. The legacy of Asian values and the limited political culture within Singapore has led to the country being described as "classic illustration of soft authoritarianism", and "profoundly illiberal". The judicial system is based on English common law , continuing
16046-453: The repeal will not affect the recognition of "traditional familial and societal norms," including how marriage is defined, leaving the legal status of same-sex marriage unchanged for the time, although the possibility of civil unions was not officially ruled out. Lee described this as a compromise between the conservative (and often religious) and progressive elements of Singaporean society to prevent further political fracturing. The law
16188-694: The same sex were not wrong at all or not wrong most of the time, up from 10% in 2013. The survey found that 27% felt the same way about same-sex marriage (an increase from 15% in 2013) and 30% did so about same-sex couples adopting a child (an increase from 24% in 2013). In 2021, six Singaporeans protested for improved trans protections in the educational system outside the Ministry of Education headquarters at Buona Vista . Pimps often traffic women from neighbouring countries such as China , Malaysia and Vietnam at their brothels as well as rented apartments and hostels for higher profit margins when they get
16330-474: The settlement, and the island faded into obscurity for the next two centuries. By then, Singapore was nominally part of the Johor Sultanate . The wider maritime region and much trade was under Dutch control for the following period after the 1641 Dutch conquest of Malacca . The British governor Stamford Raffles arrived in Singapore on 28 January 1819 and soon recognised the island as a natural choice for
16472-810: The south along with the Riau Islands in Indonesia , the South China Sea to the east, and the Straits of Johor along with the State of Johor in Malaysia to the north. Singapore's history dates back at least eight hundred years, having been a maritime emporium known as Temasek and subsequently a major constituent part of several successive thalassocratic empires. Its contemporary era began in 1819, when Stamford Raffles established Singapore as an entrepôt trading post of
16614-433: The structure and responsibility of governance. The President is the head of state . The governance of Singapore is separated into three branches: The president is directly elected by popular vote for a renewable six-year term. Requirements for this position, which were enacted by the PAP government, are extremely stringent, such that only a handful of people qualify for the candidacy. These qualifications include that
16756-608: The subject of academic debates, it is nevertheless known from various documents that Singapore in the 14th century, then known as Temasek , was a trading port under the influence of both the Majapahit Empire and the Siamese kingdoms, and was a part of the Indosphere . These Indianised kingdoms were characterised by surprising resilience, political integrity and administrative stability. Historical sources also indicate that around
16898-515: The terms of the Malaysia Agreement . Under this Agreement, Singapore had a relatively high level of autonomy compared to the other states of Malaysia. Indonesia opposed the formation of Malaysia due to its own claims over Borneo and launched Konfrontasi ("Confrontation" in Indonesian) in response to the formation of Malaysia. On 10 March 1965, a bomb planted by Indonesian saboteurs on
17040-592: The trade unions and Chinese schools, waged a guerrilla war against the government, leading to the Malayan Emergency . The 1954 National Service riots , Hock Lee bus riots , and Chinese middle schools riots in Singapore were all linked to these events. David Marshall , pro-independence leader of the Labour Front , won Singapore's first general election in 1955. He led a delegation to London , and Britain rejected his demand for complete self-rule. He resigned and
17182-412: The two branches in Karachi and Chittagong to the National Bank of Pakistan . In 1975, the Republic of South Vietnam nationalized the branch in Saigon and the Khmer Rouge government nationalized that in Phnom Penh . The People's Bank of China began spinning off its commercial functions starting in 1978, and re-established the Bank of China in 1979 with focus on international finance. That same year,
17324-425: The two. It was thought that reuniting with Malaya would benefit the economy by creating a common market, alleviating ongoing unemployment woes in Singapore. However, a sizeable left-wing faction of the PAP was strongly opposed to the merger, fearing a loss of influence, and hence formed the Barisan Sosialis , after being kicked out from the PAP. The ruling party of Malaya, United Malays National Organisation (UMNO),
17466-575: The victory as deciding the general situation of the war. Between 5,000 and 25,000 ethnic Chinese people were killed in the subsequent Sook Ching massacre . British forces had planned to liberate Singapore in 1945/1946; however, the war ended before these operations could be carried out. After the Japanese surrender to the Allies on 15 August 1945, Singapore fell into a brief state of violence and disorder; looting and revenge-killing were widespread. British, Australian, and Indian troops led by Lord Louis Mountbatten returned to Singapore to receive
17608-410: The war, including those needed to supply utilities. A shortage of food led to malnutrition, disease, and rampant crime and violence. A series of strikes in 1947 caused massive stoppages in public transport and other services. However, by late 1947 the economy began to recover, facilitated by a growing international demand for tin and rubber. The failure of Britain to successfully defend its colony against
17750-418: The waterfront of Collyer Quay to Raffles Place, was built in 1909. A Chinese store, the Oriental Emporium, was opened opposite Robinsons in 1966. The earliest banks to operate in Commercial Square were the Oriental Bank , the Chartered Mercantile Bank of India, London and China (later absorbed into HSBC ), the Chartered Bank of India, Australia and China (which later became the Standard Chartered ), and
17892-478: The worrying amounts of non-performing loans, this hardly deterred investors. The IPO share price started at HK$ 2.95 per share and jumped 15% (to HK$ 3.40) after the first day of trading. In 2008, the Bank of China was crowned Deal of the Year - Debt Market Deal of the Year at the 2008 ALB Hong Kong Law Awards. Bank of China (Canada), commonly known as BOCC, is the Canadian subsidiary of the Bank of China (BOC). The Bank of China began its business in Canada by opening
18034-446: The worst fires in Singapore's history in 1972, and its neighbour Overseas Union Bank expanded into the site with the construction of a new tower in 1986. The John Little's Building was sold in 1973 and demolished. The first underground car park in Singapore was constructed in 1965 under Raffles Place. It was replaced in the 1980s by the Raffles Place MRT station , which opened in December 1987. The station entrance features details from
18176-494: Was abolished in 1970. Singapore is known for its strict laws and conservative stances on crime; both corporal punishment (by caning ) and capital punishment (by hanging ) are retained and commonly used as legal penalties. The right to freedom of speech and association is guaranteed by Article 14(1) of the Constitution of Singapore , although there are provisions in the subsequent subsection that regulate them. The government has restricted freedom of speech and freedom of
18318-420: Was amended in 1991 to provide for an elected president who has veto power in the use of past reserves and appointments to certain public offices. In 1990, Goh Chok Tong succeeded Lee and became Singapore's second prime minister. During Goh's tenure, the country went through the 1997 Asian financial crisis and the 2003 SARS outbreak. In 2004, Lee Hsien Loong , the eldest son of Lee Kuan Yew , became
18460-428: Was closed and merged under Bank of China, Singapore Branch; one year later, Bank of China Futures Pte Ltd wound up operations in Singapore. In 2001-2007, the BOC undertook massive staff layoffs and paycuts in BOC Singapore Branch, a phase of turmoil that culminated in 2007 when branch head Zhu Hua was asked to leave by the Monetary Authority of Singapore for his poor performance. He was replaced by Liu Yan Fen . In 2008,
18602-423: Was formed in 1912 by renaming the Qing dynasty 's Da-Qing Bank (est. 1905) under the newly established Republican government. Until 1942, it issued banknotes on behalf of the government as one of the "Big Four" banks of the period, together with the Bank of Communications (est. 1908), Central Bank of China (est. 1924), and Farmers Bank of China (est. 1933). Following the Chinese Communist Revolution in 1949,
18744-432: Was fully occupied with defending Britain, leaving Singapore vulnerable to Japanese invasion . During the Pacific War , the Japanese invasion of Malaya culminated in the Battle of Singapore . When the British force of 60,000 troops surrendered on 15 February 1942, British prime minister Winston Churchill called the defeat "the worst disaster and largest capitulation in British history". British and Empire losses during
18886-456: Was granted in 1959. The PAP, self-described as pragmatic, have a syncretic ideology combining free-market principles , civil nationalism , and welfarism . Despite promulgating restrictions on civil liberties, Singapore under the PAP has seen consistent economic growth and political stability. The most represented and popular opposition party is the centre-left Workers' Party , which holds 8 seats in Parliament. The long-standing hegemony of
19028-403: Was nonetheless the largest dry dock in the world, the third-largest floating dock , and had enough fuel tanks to support the entire British navy for six months. The base was defended by heavy 15-inch (380 mm) naval guns stationed at Fort Siloso , Fort Canning and Labrador, as well as a Royal Air Force airfield at Tengah Air Base . Winston Churchill touted it as the " Gibraltar of
19170-413: Was officially repealed on 3 January 2023. Pink Dot SG , an event held in support of the LGBT community, has drawn thousands of people annually since 2009 with increasing attendance. According to a survey conducted by the Institute of Policy Studies in 2019, Singaporean society has become more liberal on LGBT rights. In the survey, more than 20% of people said that sexual relations between adults of
19312-399: Was one of the earliest references to Singapore Island, which corresponds to a Chinese account from the third century referred to a place as Pú Luó Zhōng ( Chinese : 蒲 羅 中 ), a transcription of the Malay name for 'island at the end of a peninsula '. Early references to the name Temasek (or Tumasik) are found in the Nagarakretagama , a Javanese eulogy written in 1365, and
19454-488: Was opened in 1981 and Singapore Airlines was formed. The Port of Singapore became one of the world's busiest ports and the service and tourism industries also grew immensely during this period. The PAP has remained in power since independence. Some activists and opposition politicians see the government's strict regulation of political and media activities as an infringement on political rights. In response, Singapore has seen several significant political changes, such as
19596-403: Was renamed Raffles Place in Raffles' honour. On the south side of the square were many godowns with jetties where cargo can be loaded and unloaded directly from boats as they were then located at the edge of the sea. From 1858 to 1864, the land on the south side of Raffles Place from Johnston's Pier to Telok Ayer Market was reclaimed. The reclaimed land became Collyer Quay , named after
19738-512: Was replaced by Lim Yew Hock in 1956, and after further negotiations Britain agreed to grant Singapore full internal self-government for all matters except defence and foreign affairs on 3 June 1959. Days before, in the 30 May 1959 election , the People's Action Party (PAP) won a landslide victory. Governor Sir William Allmond Codrington Goode served as the first Yang di-Pertuan Negara (Head of State). PAP leaders believed that Singapore's future lay with Malaya, due to strong ties between
19880-427: Was signed on 6 February 1819. In 1824, a further treaty with the Sultan led to the entire island becoming a part of the British Empire . In 1826, Singapore became part of the Straits Settlements , then under the jurisdiction of British India . Singapore became the regional capital in 1836. Prior to Raffles' arrival, there were only about a thousand people living on the island, mostly indigenous Malays along with
20022-410: Was staunchly anti-communist, and it was suspected UMNO would support the non-communist factions of PAP. UMNO, initially sceptical of the idea of a merger due to distrust of the PAP government and concern that the large ethnic Chinese population in Singapore would alter the racial balance in Malaya on which their political power base depended, became supportive of the idea of the merger due to joint fear of
20164-400: Was tasked with drawing up a Town Plan based on Raffles' instructions. This commercial area was centered on Commercial Square, and was developed from 1823 to 1824. A small hill originally stood at the area between Commercial Square and Battery Road. Under Raffles' supervision, the hill was leveled, and its soil was then used to reclaim the marshy southern bank of the Singapore River, forming
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