Economist.com Cities Guide: Singapore Briefing - June 2006

News this month

Sorry

Japan has offered Singapore a fresh apology of sorts for its appalling behaviour in the city during the second world war. Emperor Akihito spent three days in Singapore in early June to mark the 40th anniversary of the establishment of diplomatic ties. “We cannot forget, however, that during the last world war, there were people in your country who lost their precious lives or suffered various hardships,” the 72-year-old said at a state banquet on June 9th.

No one knows for sure how many citizens were butchered by Japanese forces when they stormed into colonial Singapore in 1942 and occupied the city for three years. Most estimates run to about 50,000. Plenty of locals—largely ethnic Chinese—still resent the Japanese for their brutal rule, even though they have benefited from S$37.5 billion ($24 billion) of investment from Japanese firms in recent years.

Our rules

In the aftermath of May's general election—comfortably won, yet again, by the People’s Action Party (PAP)—victorious politicians have been busy keeping their election promises. During the campaign, PAP candidates promised to prioritise supporters in the queue to receive state funds, particularly for housing-estate upgrades. Opposition parties have complained that this is unfair, leading Mah Bow Tan, the national development minister, to defend the move in June. “We really need to be fair to people who voted for the PAP candidate,” Mr Mah told the Sunday Times. Upgrading estates was “a major election platform of the PAP and those who support the PAP candidate expect their MPs to deliver on their promises.” Opposition wards may get funds by 2015 at the latest, he added. PAP officials have long denied that the payouts were designed to buy voters. The party has won every general election held since Singapore became independent in 1965.

Banking on China

Temasek, Singapore’s ever-busy state investment arm, has been investing billions of dollars overseas in recent years, especially in China. And billions more may follow. Richard Hu, who heads the company’s financial-services arm, said on June 6th that he was keen to buy stakes in mainland Chinese banking companies beyond the three that Temasek already has. “As far as other banking assets in China are concerned, we are always looking for investment opportunities whatever they are,” he commented.

Temasek, which holds significant stakes in most large Singaporean companies, already owns minority holdings in China Minsheng Bank, China Construction Bank and Bank of China. The group, under the stewardship of Ho Ching, wife of the prime minister, Lee Hsien Loong, has been charged with securing Singapore's future prosperity by investing in companies at home and abroad.

A friend in need

Singapore’s armed forces may soon find themselves with a fresh mission: helping South-East Asia’s newest nation from sliding further into the mire. Lee Hsien Loong, the prime minister, told reporters on June 7th that he would consider dispatching forces to violence-wracked Timor Leste if he received a formal request from authorities there. The young country, which won its independence from Indonesia in 2002, has been hit by riots, insurrection from dismissed members of its armed forces, and looting in the capital, Dili.

Australia has already sent forces, as have Portugal and New Zealand. Singapore contributed a token force in 1999 in the run-up to Timor Leste’s formal independence. Its soldiers also helped out in Indonesia after the 2004 tsunami.

Incoming

Singapore Airlines has at last set a tentative date for the arrival of its latest toy, a giant A380 aircraft built by Airbus, a European company. The A380 will be the largest passenger plane ever built, and this first one will be delivered to the city-state’s airline in November. SIA is Airbus’s so-called launch customer for the product, which is a few months behind schedule.

SIA has ordered ten A380s—the other nine will arrive by the end of 2008—and is banking on the new double-decker machines to underpin its profitability for years to come, carrying hundreds of passengers on long-haul routes. The company has options on a further 15 of the planes. The first will be put into service on what the industry calls the “kangaroo route”, between Australia and Britain.

Catch if you can

June 2006

Singapore Food Festival

July 1st-31st 2006

Singapore’s cuisine draws on so many traditions—Chinese, Malay and Indian among them—that it is hard to think of a “national dish”. Still, one that comes close is chilli crab, a delightful offering of fresh crab cooked in a light, spicy sauce. So it seems appropriate that the opening of this year’s 13th annual food festival should be marked by the Chilli Crab Fiesta. Expect a range of other crab dishes as well—grilled, baked, deep-fried, sautéed, stir fried, with rice, noodles or bread.

For details about the month's food-related activities, see the festival's website.

More from the Singapore cultural calendar