Realty Assets Management Singapore - Singapore Property, Assets and Real Estate Consultant - Property for Sale, Rental and Investment - Apartment, Condo, Residential, Comercial, Huttons. - Realty Assets Management

Summary of Singapore History

The history of Singapore began as early as the 3rd Century when a Chinese account described the island at the tip of the Malay peninsula. Singapore rose in importance during the 14th century under the rule of Srivijayan prince Parameswara and became an important port until it was destroyed by Portuguese raiders in 1613. The modern history of Singapore began in 1819 when Englishman Sir Thomas Stamford Raffles established a British port on the island. Under British colonial rule, it grew in importance as a centre for both the India-China trade and the entrepôt trade in Southeast Asia, rapidly becoming a major port city

During World War II, Singapore was conquered and occupied by the Japanese Empire from 1942 to 1945. When the war ended, Singapore reverted to British control, with increasing levels of self-government being granted, culminating in Singapore's merger with the Federation of Malaya to form Malaysia in 1963. However, social unrest and disputes between Singapore's ruling People's Action Party and Malaysia's Alliance Party resulted in Singapore's expulsion from Malaysia. Singapore became an independent republic on 9 August 1965.

Facing severe unemployment and a housing crisis, Singapore embarked on a modernisation programme that focused on establishing a manufacturing industry, developing large public housing estates and investing heavily on public education. Since independence, Singapore's economy has grown by an average of nine percent each year. By the 1990s, the country has become one of the world's most prosperous nations, with a highly-developed free market economy, strong international trading links, and the highest per capita gross domestic product in Asia outside of Japan.

The Ancient Singapore

The earliest written record of Singapore was a Chinese account from the third century, describing the island of Pu Luo Chung (蒲罗中). This itself is transliterated from the Malay name "Pulau Ujong", or "island at the end" (of the Malay peninsula). The quasi-mythological Sejarah Melayu (Malay Annals) contains a tale of a prince of Srivijaya, Sri Tri Buana (also known as Sang Nila Utama), who landed on the island during the 13th century. When he saw a strange creature, which he mistakenly thought was a lion, the prince took this as an auspicious sign and founded a settlement called Singapura, which means "Lion City" in Sanskrit.

In 1320, the Mongol Empire sent a trade mission to a place called Long Ya Men (or Dragon's Tooth Strait), which is believed to be Keppel Harbour, at the southern part of the island. The Chinese traveler Wang Dayuan, visiting the island around 1330, described a small settlement called Dan Ma Xi (淡马锡, from Malay Tamasik) with Malay and Chinese residents. The Nagarakretagama, a Javanese epic poem written in 1365, also referred to a settlement on the island called Temasek (Sea Town). Recent excavations in Fort Canning found evidences indicating that Singapore was an important port in the 14th century.

In the 1390s, Srivijayan prince Parameswara fled to Temasek after being deposed by the Majapahit Empire. He ruled the island for several years, before being forced to Melaka where he founded the Sultanate of Malacca. Singapore became an important trading port of the Malacca Sultanate and later the Sultanate of Johor. In 1613, Portuguese raiders burnt down the settlement at the mouth of Singapore River and the island sank into obscurity.

The Founding of Modern Singapore

Between the 16th and 19th centuries, the Malay archipelago was gradually taken over by the European colonial powers, beginning with the arrival of the Portuguese at Malacca in 1509. The early dominance of the Portuguese was challenged during the 17th century by the Dutch, who came to control most of the ports in the region. The Dutch established a monopoly over trade within the archipelago, particularly in spices, then the region's most important product. Other colonial powers, including the British, were limited to a relatively minor presence.

In 1818, Sir Thomas Stamford Raffles was appointed as the Lieutenant Governor of the British colony at Bencoolen. He was determined that British should replace the Dutch as the dominant power in the archipelago, since the trade route between China and British India, which had become vitally important with the institution of the opium trade with China, passed through the archipelago. The Dutch had been stifling British trade in the region by prohibiting the British from operating in Dutch-controlled ports or by subjecting them with high tariff. Raffles hoped to challenge the Dutch by establishing a new port along the Straits of Malacca, the main ship passageway for the India-China trade. He convinced Lord Hastings, the Governor-General of India and his superior at the British East India Company, to fund an expedition to seek a new British base in the region.

Raffles arrived in Singapore on 29 January 1819 and soon recognised the island as a natural choice for the new port. It lay at the southern tip of the Malay peninsula, near the Straits of Malacca, and possessed a natural deep harbour, fresh water supplies, and timber for repairing ships. Raffles found a small Malay settlement, with a population of a few hundreds, at the mouth of the Singapore River, headed by Temenggong Abdu'r Rahman. The island was nominally ruled by the Sultan of Johor, Tengku Rahman, who was controlled by the Dutch and the Bugis. However, the Sultanate was weakened by factional division and Temenggong Abdu'r Rahman and his officials were loyal to Tengku Rahman's elder brother Tengku Hussein (or Tengku Long) who was living in exile in Riau. With the Temenggong's help, Raffles managed to smuggle Hussein back into Singapore. He offered to recognise Hussein as the rightful Sultan of Johor and provide him with a yearly payment; in return, Hussein would grant the British the right to establish a trading post on Singapore. A formal treaty was signed on 6 February 1819 and modern Singapore was born.

Singapore from 1965- 1979

After gaining independence abruptly, the future of Singapore was filled with uncertainties. The Konfrontasi was on-going and conservative UMNO faction strongly opposed the separation; Singapore faced the danger of being attacked by Indonesian military or forcibly re-absorbed into the Malaysia Federation in unfavourable terms. Singapore immediately sought international recognition of its sovereignty. Singapore joined the United Nations on 21 September 1965 and the Commonwealth in October that year. Foreign minister Sinnathamby Rajaratnam headed a new foreign service and helped asserting Singapore's independence and establishing diplomatic relations with other countries. Singapore later co-founded the Association of Southeast Asian Nations on 8 August 1967 and was admitted into the Non-Aligned Movement in 1970.

As a small island nation, Singapore was seen as inadequate to be a viable country and much of the international media was skeptical of prospects for Singapore's survival. Besides the issue of sovereignty, the pressing problems were unemployment, housing, education, and the lack of natural resources and land. Unemployment rate was ranging between 10-12% threatening to trigger civil unrest.

The Economic Development Board was set up in 1961 to formulate and implement national economic strategies, focusing on promoting Singapore's manufacturing sector. Industrial estates were set up, especially in Jurong, and foreign investment was attracted to the country with tax incentives. The industrialisation transformed the manufacturing sector to one that produced higher value-added goods and achieved greater revenue. The service industry also grew at this time, driven by demand for services by ships calling at the port and increasing commerce. These progresses helped to alleviate the unemployment crisis. Singapore also attracted big oil companies like Shell and Esso to establish oil refineries in Singapore which, by the mid 1970s, became the third largest oil-refining centre in the world. The government invested heavily in an education system that adopted English as the language of instruction and emphasised on practical training to develop a competent workforce well suited for the industry.

The lack of good public housing, poor sanitation, and high unemployment led to social problems from crime to health issues. The proliferation of squatter settlements resulted in safety hazards and caused the Bukit Ho Swee Squatter Fire in 1961 that killed four people and left 16,000 others homeless. The Housing Development Board set up before independence continued to be largely successful and huge building projects sprung up to provide affordable public housing to resettle the squatters. Within a decade, the majority of the population had been housed in these apartments. The Central Provident Fund (CPF) Housing Scheme, introduced in 1968, allows residents to use their compulsory savings account to purchase HDB flats and gradually increases home ownership in Singapore.[38]

British troops had remained in Singapore following its independence, but in 1968, London announced its decision to withdraw the forces by 1971. Singapore set out to build its military, called the Singapore Armed Forces, and a national service programme was introduced in 1967.

Singapore from 1980 - 1890s

Further economic success continued through the 1980s onwards, with the unemployment rate falling to 3% and real GDP growth averaging at about 8% during this time until 1999. During the 1980s, Singapore began to upgrade its industries to higher-technology industries, such as the wafer fabrication sector, in order to compete with its neighbours which now have cheaper labour forces. Singapore Changi Airport was opened in 1981 and Singapore Airlines was developed to become a major airline in the world. The Port of Singapore became one of the world's busiest ports and the service and tourism industry also grew immensely during this period. Singapore emerged as an important transportation hub and a major tourist destination.

The Housing Development Board continued to promote public housing with new towns, such as in Ang Mo Kio, were designed and built. These new residential estates have larger and higher-standard apartments and are served with better amenities. Today, 80-90% of the population lives in HDB apartments. In 1987, the first Mass Rapid Transit (MRT) line began operation, connecting most of these housing estates and the city centre.

The political situation in Singapore was stable and dominated by the People's Action Party which had a 15-year monopoly in parliament during 1966 to 1981, winning all seats in elections during that period. The PAP rule is termed authoritarian by some activists and opposition politicians who see the strict regulation of political and media activities by the government as an infringement on political rights. The conviction of opposition politician Chee Soon Juan for illegal protests and the defamation lawsuits against J. B. Jeyaretnam have been cited by the opposition parties as examples of such authoritarianism. The lack of separation of powers between the court system and the government led to further accusations by the opposition parties of miscarriage of justice.

The government of Singapore underwent several significant changes. Non-Constituency Members of Parliament were introduced in 1984 to allow up to three losing opposition parties candidates be appointed as MPs. Group Representation Constituencies (GRCs) was introduced in 1988 to create multi-seat electoral divisions, intended to ensure minority representation in parliament. Nominated Members of Parliament was introduced in 1990 to allow non-elected non-partisan MPs. The Constitution was amended in 1991 to provide for an Elected President who has veto power in the use of national reserves and appointments to public office. The opposition parties have complained that the GRC system has made it difficult for them to gain a foothold in parliamentary elections in Singapore, and the plurality voting system tends to exclude minority parties.

In 1990, Lee Kuan Yew passed the leadership rein to successor Goh Chok Tong who became the second prime minister of Singapore. Goh presented a more open and consultative style of leadership as the country continued to modernise. In 1997, Singapore experienced the effect of the Asian financial crisis and tough measures, such as cuts in the CPF contribution, were implemented.

Singapore 2000 till Present

In the early years of 2000s, Singapore went through some of its most serious post-independence crises, including the SARS outbreak in 2003 and the threat of terrorism. In December 2001, a plot to bomb embassies and other infrastructure in Singapore was uncovered[50] and as many as 36 members of the militant Islamic group Jemaah Islamiyah were arrested under the Internal Security Act. Major counter-terrorism measures were put in place to detect and prevent potential terrorism acts and to minimise damages should they occur.

In 2004, Lee Hsien Loong, the eldest son of Lee Kuan Yew, became the third prime minister of Singapore. He introduced several policy changes, including the reduction of national service duration from two and a half years to two years, and the legalisation of casino gambling. The general election of 2006 was a landmark election because of the prominent use of the internet and blogging to cover and comment on the election, circumventing the official media. The PAP returned to power, winning 82 of the 84 parliamentary seats and 66% of the votes.