Singapore is a highly developed trade-oriented market economy. Singapore's economy has been ranked as the most open in the world, least corrupt, most pro-business, with low tax rates (14.2% of Gross Domestic Product, GDP) and has the highest per-capita GDP in the world; in terms of Purchasing Power Parity (PPP). HP Pavilion dv7-6184ca CPU Fan
Singapore's sovereign wealth fund, Temasek Holdings, holds majority stakes in several of the nation's largest companies, such as Singapore Airlines, SingTel, ST Engineering and MediaCorp. The economy of Singapore is a major Foreign Direct Investment(FDI) outflow financier in the world. HP Pavilion dv7-3125eo CPU Fan
Singapore has also benefited from the inward flow of FDI from global investors and institutions due to her highly attractive investment climate and a stable political environment.
Exports, particularly in electronics, chemicals and services including the posture that Singapore is the regional hub for wealth management provide the main source of revenue for the economy, HP Pavilion dv7-2185dx CPU Fan
which allows it to purchase natural resources and raw goods which she lacks. Moreover, water is scarce in Singapore therefore water is defined as a precious resource in Singapore along with the scarcity of land to be treated with land fillof Pulau Semakau. Singapore has limited arable land that Singapore has to rely on the agrotechnology park IBM MCF-C10AM05 CPU Fan
for agricultural production and consumption. Human Resource is another vital issue for the health of Singaporean economy.
Singapore could thus be said to rely on an extended concept of intermediary trade to Entrepôt trade, by purchasing raw goods and refining them for re-export, such as in the wafer fabrication industry and oil refining. SONY Vaio VGN-SZ2XP/C CPU Fan
Singapore also has a strategic port which makes it more competitive than many of its neighbours in carrying out such entrepot activities. Singapore has the highest trade to GDP ratio in the world, averaging around 400% during 2008-11. The Port of Singapore is the second-busiest in the world by cargo tonnage. DELL Latitude E4300 CPU Fan
In addition, Singapore's portinfrastructure and skilled workforce, which is due to the success of the country's education policy in producing skilled workers, is also fundamental in this aspect as they provide easier access to markets for both importing and exporting, and also provide the skill(s) needed to refine imports into exports. HP Pavilion dv7-2025es CPU Fan
Singapore's government promotes high levels of savings and investment through policies such as the Central Provident Fund, which is used to fund its citizen's healthcare and retirement needs. Singapore's savings rates have remained among the highest in the world since the 1970s. FUJITSU LifeBook A6030 CPU Fan
Most companies in Singapore are registered as private limited-liability companies (commonly known as "private limited companies"). A private limited company in Singapore is a separate legal entity, and shareholders are not liable for the company's debts beyond the amount of share capital they have contributed. SONY Vaio VGN-FS115Z CPU Fan
To preserve its international standing and further its economic prosperity in the 21st century, Singapore has taken measures to promote innovation, encourage entrepreneurship, re-train her workforce, and even attract foreign talents. HP 532617-001 CPU Fan
These measures aim to boost Singapore's productivity, so that Singapore remains competitive and ready for the challenges of an information-driven global economy.
Upon separation from Malaysia in 1965, Singapore faced a small domestic market, and high levels of unemployment and poverty. 70 percent of Singapore’s households lived in badly overcrowded conditions, and a third of its people squatted in slums on the city fringes. ACER Aspire 5730Z CPU Fan
Unemployment averaged 14 percent, GDP per capita was US$516, and half of the population was illiterate. In response, the Singapore government established the Economic Development Board to spearhead an investment drive, and make Singapore an attractive destination for foreign investment. HP G56-126NR CPU Fan
FDI inflows increased greatly over the following decades, and by 2001 foreign companies accounted for 75% of manufactured output and 85% of manufactured exports. Meanwhile, Singapore's savings and investment rates rose among the highest levels in the world, while household consumption and wage shares of GDP fell among the lowest.[ HP Pavilion dv7-6166nr CPU Fan
As a result of this investment drive, Singapore's capital stock increased 33 times by 1992, a tenfold increase in the capital-labor ratio. Living standards steadily rose, with more families moving from a lower-income status to middle-income security with increased household incomes. During a National Day Rally speech in 1987, FUJITSU Lifebook A3210 CPU Fan
Lee Kuan-Yew claimed that (based on the home ownership criterion) 80% of Singaporeans could now be considered to be members of the middle-class. However, much unlike the economic policies of Greece and the rest of Europe, Singapore followed a policy of individualizing the social safety net. DELL Precision M6400 CPU Fan
This lead to higher than average savings rate and a very sustainable economy on the long run. Without a burdensome welfare state or its likeliness, Singapore has developed a very self-reliant and skilled workforce well versed for a global economy.
Singapore's economic strategy produced real growth averaging 8.0% from 1960 to 1999. Compaq Presario CQ60-615DX CPU Fan
The economy picked up in 1999 after the regional financial crisis, with a growth rate of 5.4%, followed by 9.9% for 2000. However, the economic slowdown in the United States, Japan and the European Union, as well as the worldwide electronics slump, had reduced the estimated economic growth in 2001 to a negative 2.0%. HP Pavilion dv2660se CPU Fan
The economy expanded by 2.2% the following year, and by 1.1% in 2003 when Singapore was affected by the SARS outbreak. Subsequently, a major turnaround occurred in 2004 allowed it to make a significant recovery of 8.3% growth in Singapore, although the actual growth fell short of the target growth for the year more than half with only 2.5%. Toshiba Satellite L500-1XC CPU Fan
In 2005, economic growth was 6.4%; and in 2006, 7.9%.
As of 8 June 2013, Singapore's unemployment rate is around 1.9% and the country's economy has a lowered growth rate, with a rate of 1.8% on a quarter-by-quarter basis—compared to 14.8% in 2010. DELL GM0503PEB1-8 (L2.M) CPU Fan
Manufacturing and financial business services accounted for 26% and 22%, respectively, of Singapore's gross domestic product in 2000. The electronics industry leads Singapore's manufacturing sector, accounting for 48% of total industrial output, but the government also is prioritising development of the chemicals and biotechnologyindustries. HP Pavilion dv7-1098eo CPU Fan
To maintain its competitive position despite rising wages, the government seeks to promote higher value-added activities in the manufacturing and services sectors. It also has opened, or is in the process of opening, the financial services,telecommunications, and power generation and retailing sectors up to foreign service providers and greater competition. Toshiba Satellite A205-S5804 CPU Fan
The government has also attempted some measures including wage restraint measures and release of unused buildings in an effort to control rising commercial rents with the view to lowering the cost of doing business in Singapore when central business district office rents tripled in 2006. HP Pavilion dv7-1240us CPU Fan
Singapore is considered a global financial hub, with Singapore banks offering world-class corporate bank account facilities. These include multiple currencies, internet banking, telephone banking, checking accounts, savings accounts, debit and credit cards, fixed term deposits and wealth management services. DELL yy529 CPU Fan
According to the Human Rights Watch, due to its role as a financial hub for the region, Singapore has continually been criticized for reportedly hosting bank accounts containing ill-gotten gains of corrupt leaders and their associates, including billions of dollars of Burma’s state gas revenues hidden from national accounts. Toshiba Qosmio G40-10E CPU Fan
Singapore is aggressively promoting and developing its biotechnology industry. Hundred of millions of dollars were invested into the sector to build up infrastructure, fund research and development and to recruit top international scientists to Singapore. Leading drug makers, such as GlaxoSmithKline (GSK), Pfizer and Merck & Co., have set up plants in Singapore. SONY Vaio VGN-CR407E CPU Fan
On 8 June 2006, GSK announced that it is investing another S$300 million to build another plant to produce pediatric vaccines, its first such facility in Asia. Pharmaceuticals now account for more than 8% of the country's manufacturing production.
Singapore is the pricing centre and leading oil trading hub in Asia. HP Pavilion dv6-1101au CPU Fan
The oil industry makes up 5 per cent of Singapore's GDP, with Singapore being one of the top three export refining centres in the world. In 2007 it exported 68.1 million tonnes of oil. The oil industry has led to the promotion of the chemical industry as well as oil and gas equipment manufacturing. HP Pavilion dv7-3190ev CPU Fan
Singapore has 70 per cent of the world market for both jack-up rigs and for the conversion of Floating Production Storage Offloading units. It has 20 per cent of the world market for ship repair, and in 2008 the marine and offshore industry employed almost 70,000 workers.
Singapore's total trade in 2000 amounted to S$373 billion, an increase of 21% from 1999. HP Pavilion dv7-1157cl CPU Fan
Despite its small size, Singapore is currently the fifteenth-largest trading partner of the United States. In 2000, Singapore's imports totaled $135 billion, and exports totaled $138 billion. Malaysia was Singapore's main import source, as well as its largest export market, absorbing 18% of Singapore's exports, with the United States close behind. HP COMPAQ NX9420 CPU Fan
Re-exports accounted for 43% of Singapore's total sales to other countries in 2000. Singapore's principal exports are petroleum products, food/beverages, chemicals, textile/garments, electronic components, telecommunication apparatus, and transport equipment. Singapore's main imports are aircraft, HP Mini 110-1110ET CPU Fan
crude oil and petroleum products, electronic components, radio and television receivers/parts, motor vehicles, chemicals, food/beverages, iron/steel, and textile yarns/fabrics.
Trade in Singapore has benefited from the extensive network of trade agreements Singapore has passed. According to Healy Consultants, HP Pavilion dv7-1157cl CPU Fan
Singapore has free trade access to the entirety of the ASEAN network, with import duty reduced when dealing with Indonesia, Malaysia, the Philippines, Thailand, Brunei, Burma, Cambodia, Laos and Vietnam.
The Singapore Economic Development Board (EDB) continues to attract investment funds on a large-scale for the country despite the city's relatively high-cost operating environment. HP Pavilion dv6-3163eo CPU Fan
The U.S. leads in foreign investment, accounting for 40% of new commitments to the manufacturing sector in 2000. As of 1999, cumulative investment for manufacturing and services by American companies in Singapore reached approximately $20 billion (total assets). The bulk of U.S. investment is in electronics manufacturing, oil refining and storage, and the chemical industry. More than 1,500 U.S. firms operate in Singapore. HP Pavilion dv9740us CPU Fan
Singapore's largely corruption-free government, skilled workforce, and advanced and efficient infrastructure have attracted investments from more than 3,000 multinational corporations (MNCs) from the United States, Japan, and Europe. Foreign firms are found in almost all sectors of the economy. ACER Aspire 4743 CPU Fan
MNCs account for more than two thirds of manufacturing output and direct export sales, although certain services sectors remain dominated by government-linked corporations.
The government also has encouraged firms to invest outside Singapore, with the country's total direct investments abroad reaching $39 billion by the end of 1998. HP Pavilion dv6-2170us CPU Fan
The People's Republic of China was the top destination, accounting for 14% of total overseas investments, followed by Malaysia (10%), Hong Kong (8.9%),Indonesia (8.0%) and U.S. (4.0%). The rapidly growing economy of India, especially the high technology sector, is becoming an expanding source of foreign investment for Singapore. Toshiba Satellite L675-S7018 CPU Fan
The United States provides no bilateral aid to Singapore, but the U.S. appears keen to improve bilateral trade and signed the U.S.-Singapore Free Trade Agreement. Singapore corporate tax is 17 per cent.
In 2000, Singapore had a workforce of about 2.2 million. ASUS F80Q CPU Fan
The country has the largest proficiency of English language speakers in Asia, making it an attractive place for multinational corporations. The National Trades Union Congress (NTUC), the sole trade union federation which has a symbiotic relationship with the ruling party, comprises almost 99% of total organized labour. ACER TravelMate 4200 CPU Fan
Government policy and pro-activity rather than labour legislation controls general labour and trade union matters. The Employment Act offers little protection to white-collar workers due to an income threshold. The Industrial Arbitration Court handles labour-management disputes that cannot be resolved informally through the Ministry of Manpower. HP 434678-001 CPU Fan
The Singapore Government has stressed the importance of cooperation between unions, management and government (tripartism), as well as the early resolution of disputes. There has been only one strike in the past 15 years.
Singapore has enjoyed virtually full employment for long periods of time. HP G70-120EA CPU Fan
Amid an economic slump, the unemployment rate rose to 4.0% by the end of 2001, from 2.4% early in the year. Unemployment has since declined and as of 2012 the unemployment rate stands at 1.9%.[
While the Singapore government has taken a stance against minimum wage and unemployment benefit schemes, Toshiba Satellite A300-034 CPU Fan
in 2007 the government introduced a Workfare Income Supplement (WIS) scheme to supplement wages of low-skilled workers.
The Singapore Government and the NTUC have tried a range of programs to increase lagging productivity and boost the labour force participation rates of women and older workers. HP 606609-001 CPU Fan
However, labour shortages persist in the service sector and in many low-skilled positions in the construction and electronics industries. Foreign workers help make up this shortfall. In 2000, there were about 600,000 foreign workers in Singapore, constituting 27% of the total work force. As a result, wages are relatively suppressed or do not rise for all workers. Compaq Presario CQ60-301sl CPU Fan
In order to have some controls, the government imposes a foreign worker levy payable by employers for low end workers like domestic help and construction workers. In 2012, the Ministry of Trade and Industry (MTI) reported that Singapore should continue to fine-tune the calibration of its inflow of foreigners as the country continues to face an ageing population and a shrinking workforce. TOSHIBA Satellite L300 CPU Fan
Singapore Parliament accepted the recommendations by its Economic Strategies Committee (ESC) for the optimal ratio of the level of immigration and foreign manpower for both high and low skilled workers. The Government recognises that the current overall foreign workforce should complement the local resident workforce and not replace the Singaporean Core concept, ASUS Eee PC 701 CPU Fan
and helps companies greatly as they raise productivity through business restructuring and workforce retraining; raise resident labour force participation rate.
Government spending in Singapore has risen since the start of the global financial crisis, from around 15% of GDP in 2008 to 17% in 2012. Compaq Presario CQ60-305sa CPU Fan
The government's total expenditure as a percentage of GDP ranks among the lowest internationally and allows for a competitive tax regime.[dead link] The government has no foreign debt and consistent budget surpluses. Singapore government debt is issued for investment purposes, and not for fiscal needs. HP 637607-001 CPU Fan
Personal income taxes in Singapore range from 0% to 20% for incomes above S$320,000. There are no capital gains or inheritance taxes in Singapore.Singapore's corporate tax rate is 17% with exemptions and incentives for smaller businesses. Singapore has a single-tier corporate income tax system, which means there is no double-taxation for shareholders. HP Pavilion dv7-3067nr CPU Fan
Singapore introduced Goods and Services Tax (GST) with an initial rate of 3% on 1 April 1994, increasing government's revenue by S$1.6 billion (US$1b, €800m) and establishing government finances. The taxable GST was increased to 4% in 2003, to 5% in 2004, and to 7% in 2007.[dead link] HP Pavilion dv5-1210ez CPU Fan
The Singapore government owns two investment companies, the Government of Singapore Investment Corporation and smaller Temasek Holdings, which act as the nation's sovereign wealth funds. Both operate as commercial investment holding companies independently of the Singapore government, Compaq Presario CQ50-211nr CPU Fan
but Prime Minister Lee Hsien Loong and his wife Ho Ching serve as Chairman and CEO of these corporations respectively. Temasek Holdings holds around S$60 billion of assets in Singapore, holding majority stakes in several of the nation's largest companies, such as Singapore Airlines, SingTel, ST Engineering and MediaCorp. HP G56-114SA CPU Fan
In 2012, an economics professor, Dr.(PhD) Christopher Balding, based in China began scrutinizing and criticizing the Government of Singapore Investment Corporation and Temasek Holdings on its alleged accounting and auditing of public finances.
The Monetary Authority of Singapore is Singapore's central bank and financial regulatory authority. SONY Vaio VGN-CR21Z/N CPU Fan
It administers the various statutes pertaining to money, banking, insurance, securities and the financial sector in general, as well as currency issuance. The MAS has been given powers to act as a banker to and financial agent of the Government. It has also been entrusted to promote monetary stability, and credit and exchange policies conducive to the growth of the economy. HP Pavilion dv7-4060eo CPU Fan
Unlike many other central banks such as Federal Reserve System or Bank of England, MAS does not regulate the monetary system via interest rates to influence the liquidity in the system. Instead, it chooses to do it via the foreign exchange mechanism. It does so by intervening in the SGD market. Toshiba Satellite M70-252 CPU Fan
In April 2013, the country was recognised[by whom?] as an increasingly popular tax haven for the wealthy due to the low tax rate on personal income, a full tax exemption on income that is generated outside of Singapore and 69 double taxation treaties that can minimize both withholding tax and capital gains tax. Toshiba Satellite A100-455 CPU Fan
Australian millionaire retailer Brett Blundy, with an estimated personal wealth worth AU$835 million, and multi-billionaire Facebook co-founder Eduardo Saverinare two examples of wealthy individuals who have settled in Singapore (Blundy in 2013 and Saverin in 2012). Additionally, Australian mining magnate Gina Rinehart owns property in Singapore HP Pavilion dv5-2112br CPU Fan
and American investor Jim Rogers moved to Singapore in 2007—Rogers has identified the 21st century as an era in which Asia will dominate and wishes for his two daughters to learn Mandarin as a key outcome of the relocation. Chinese Media TV celebrities Jet Li and Gong Li have also taken up naturalized Singapore citizenship. DELL BFB0505HA CPU Fan
The history of Singapore dates to the 11th century. The island rose in importance during the 14th century under the rule of Srivijayan prince Parameswara and became a port until it was destroyed by Acehnese raiders in 1613
During World War II, Singapore was conquered and occupied by the Japanese Empire from 1942 to 1945. HP Pavilion dv6-3299en CPU Fan
When the war ended, Singapore reverted to British control, with increasing levels of self-government being granted, culminating inSingapore's merger with the Federation of Malaya to form Malaysia in 1963. However, social unrest and disputes between Singapore's ruling SONY Vaio VGN-NW11Z/T CPU Fan
People's Action Party and Malaysia's Alliance Party resulted in Singapore's separation from Malaysia. Singapore became an independent republic on 9 August 1965.
Facing severe unemployment and a housing crisis, Singapore embarked on a modernisation programme[when?] that focused on establishing a manufacturing industry, Toshiba Satellite L550-20W CPU Fan
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 had 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. HP Pavilion dv7-4183sf CPU Fan
The earliest written record of Singapore occurs in a Chinese account from the third century, describing the island of Pu Luo Chung(蒲 罗 中). This was itself a transliteration 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, HP Pavilion dv7-3190ev CPU Fan
Sri Tri Buana (also known as Sang Nila Utama), who landed on the island during the 13th century. When he saw a lion, the prince took this as an auspicious sign and founded a settlement called Singapura, which means "Lion City" in Malay. However, it is unlikely there ever were lions in Singapore, though tigers continued to roam the island until the early 20th century. HP KSB06105HA CPU Fan
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 beKeppel 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. HP G62-244CA CPU Fan
The Nagarakretagama, a Javaneseepic poem written in 1365, also referred to a settlement on the island called Temasek (Sea Town). Recent excavations in Fort Canningfound evidence indicating that Singapore was an important port in the 14th century.
In the 1390s, a Palembang prince, Parameswara, fled to Temasek after being deposed by the Majapahit kingdom. HP Pavilion dv7-3190ei CPU Fan
During the 14th century, Singapore was caught in the struggle between Siam (now Thailand) and the Java-based Majapahit Empire for control over the Malay Peninsula. According to Sejarah Melayu, Singapore was defeated in one Majapahit attack. He ruled the island for several years, before being forced to Melaka where he founded the Sultanate of Malacca. HP G62-244CA CPU Fan
Singapore became an important trading port of the Malacca Sultanate and later the Sultanate of Johor. In the early 15th century, Singapore was a Thai vassal state, but the Malacca Sultanate which Iskandar had founded quickly extended its authority over the island. After the Portuguese seizure of Malacca in 1511, the Malay admiral fled to Singapura and established a new capital at Johor Lama, keeping a port officer in SingapuraASUS A6000R CPU Fan
. The Portuguese destroyed the settlements in Singapore in 1587 and the island sank into obscurity for the next two centuries.
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. HP Pavilion dv7-6011sg CPU Fan
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. Toshiba Satellite L300D-01P CPU Fan
In 1818, Sir Stamford Raffles was appointed as the Lieutenant Governor of the British colony at Bencoolen. He was determined that Great Britain should replace the Netherlands as the dominant power in the archipelago, since the trade route between China andBritish India, which had become vitally important with the institution of the opium trade with China, Compaq Presario CQ60-409CA CPU Fan
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 to a 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, HP Mini 110-3010sf CPU Fan
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 28 January 1819 and soon recognized the island as a natural choice for the new port. Toshiba Satellite L645D-S4056 CPU Fan
It lay at the southern tip of the Malay peninsula, near the Straits of Malacca, and possessed a natural deep harbor, fresh water supplies, and timber for repairing ships. Raffles found a small Malay settlement, with a population of a few hundred, at the mouth of the Singapore River, headed by Temenggong Abdu'r Rahman. Toshiba Satellite M70-142 CPU Fan
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 Tengkoo Rahman's elder brother Tengku Hussein (or Tengku Long) who was living in exile in Riau. DELL Inspiron E1505 CPU Fan
With the Temenggong's help, Raffles managed to smuggle Hussein back into Singapore. He offered to recognize 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. HP 532613-001 CPU Fan
Before Raffles arrived, there were around 1,000 people living in Singapore, mostly Malays and a few dozen Chinese. By 1869, due to migration from Malaya and other parts of Asia, Singapore's population had reached 100,000. Many Chinese and Indian immigrants came to Singapore to work in the rubber plantations and tin mines, and their descendents later formed the bulk of Singapore's population. HP Envy 14-1080eo CPU Fan
Raffles returned to Bencoolen soon after the signing of the treaty and left Major William Farquhar in charge of the new settlement, with some artillery and a small regiment of Indian soldiers. Establishing a trading port from scratch was a daunting endeavor. ACER TravelMate 5230 CPU Fan
Farquhar's administration was fairly funded and was prohibited from collecting port duties to raise revenue as Raffles had decided that Singapore would be a free port. Farquhar invited settlers to Singapore, and stationed a British official on St. John's Island to invite passing ships to stop in Singapore. Lenovo 3000 G430 CPU Fan
As news of the free port spread across the archipelago, Bugis, Peranakan Chinese, and Arab traders flocked to the island, seeking to circumvent the Dutch trade restrictions. During the starting year of operation, $400,000 (Spanish dollars) worth of trade passed through Singapore. By 1821, the island's population had gone up to around 5,000, and the trade volume was $8 million. ASUS EEE PC 1215N CPU Fan
The population reached the 10,000 mark in 1825, and with a trade volume of $22 million, Singapore surpassed the long-established port of Penang.
Raffles returned to Singapore in 1822 and became critical of many of Farquhar's decisions, despite Farquhar's success in leading the settlement through its difficult early years. Dell Vostro 3750 CPU Fan
For instance, in order to generate much-needed revenue, Farquhar had resorted to selling licenses for gambling and the sale of opium, which Raffles saw as social evils. Shocked at the disarray of the colony, Raffles set about drafting a set of new policies for the settlement. He also organized Singapore into functional and ethnic subdivisions under the Raffles Plan of Singapore. Toshiba Satellite L500-018 CPU Fan
Today, remnants of this organization can still be found in the ethnic neighborhoods.
On 7 June 1823, John Crawfurd signed a second treaty with the Sultan and Temenggong, which extended British possession to most of the island. The Sultan and Temenggong traded most of their administrative rights of the island, including the collection of port taxes for lifelong monthly payments of $1500 and $800 respectively. COMPAQ Presario CQ42-116TU CPU Fan
This agreement brought the island under the British Law, with the provision that it would take into account Malay customs, traditions and religion. Raffles replaced Farquhar with John Crawfurd, an efficient and frugal administrator, as the new governor. In October 1823, Raffles departed for Britain and would never return to Singapore as he died in 1826, at the age of 44. HP Pavilion dv6-2115eg CPU Fan
In 1824, Singapore was ceded in perpetuity to the East India Company by the Sultan.
The status of a British outpost in Singapore seemed initially in doubt as the Dutch government soon protested to Britain for violating the Netherlands' sphere of influence. But as Singapore rapidly emerged as an important trading post, Britain consolidated its claim on the island. Toshiba Satellite L645D-S4056 CPU Fan
The Anglo-Dutch Treaty of 1824 cemented the status of Singapore as a British possession, carving up the Malay archipelago between the two colonial powers with the area north of the Straits of Malacca, including Singapore, falling under Britain's sphere of influence. HP 646578-001 CPU Fan
In 1826, Singapore was grouped by the British East India Company[by whom?] together with Penang and Malacca to form the Straits Settlements, administrated by the British East India Company. In 1830, the Straits Settlements became a residency, or subdivision, of the Presidency of Bengal in British India. SONY VAIO PCG-6L2L CPU Fan
During the subsequent decades, Singapore grew to become an important port in the region. Its success was due to several reasons including the opening of market in China, the advent of ocean-going steamships, and the production of rubber and tin in Malaya. Its status as a free port provided crucial advantage over other colonial port cities in Batavia (Jakarta) Toshiba Satellite X205-S9349 CPU Fan
andManila where tariffs were levied, and it drew many Chinese, Malay, Indian, and Arab traders operating in South-East Asia to Singapore. The later opening of the Suez Canal in 1869 would further boost trade in Singapore. By 1880, over 1.5 million tons of goods were passing through Singapore each year, with around 80% of the cargo transported by steamships. DELL yy529 CPU Fan
The main commercial activity was entrepôt trade which flourished under no taxation and little restriction. Many merchant houses were set up in Singapore mainly by European trading firms, but also by Jewish, Chinese, Arab, Armenian, American and Indian merchants. There were also many Chinese middlemen who handled most of the trade between the European and Asian merchants. HP Pavilion dv7-3020es CPU Fan
By 1827, the Chinese became the largest ethnic group in Singapore. They consisted of Peranakans, who were descendants of early Chinese settlers, and Chinese coolies who flocked to Singapore to escape the economic hardship in southern China due to the Opium Wars. Many arrived in Singapore as impoverished indentured laborers and they were predominantly males. HP G62-369TX CPU Fan
The Malays were the second largest ethnic group until the 1860s and they worked as fishermen, craftsmen, or as wage earners while continued to live mostly in kampungs. By 1860, the Indians became the second largest ethnic group. They consisted of unskilled laborers, traders, and convicts who were sent to carry out public works projects such as clearing jungles and laying out roads. There were also Indian Sepoy troops garrisoned at Singapore by the British. HP 13.V1.BJ195.F.GN CPU Fan
Despite Singapore's growing importance, the administration governing the island was understaffed, ineffectual and unconcerned with the welfare of the populace. Administrators were usually posted from India and were unfamiliar with local culture and languages. While the population had quadrupled during 1830 to 1867, Toshiba Satellite L675D-S7016 CPU Fan
the size of the civil service in Singapore had remained unchanged. Most people had no access to public health services and diseases such as cholera and smallpox caused severe health problems, especially in overcrowded working-class areas. As a result of the administration's ineffectiveness and the predominantly male, transient, and uneducated nature of the population, HP Pavilion dv7-1451nr CPU Fan
the society was lawless and chaotic. In 1850 there were only twelve police officers in the city of nearly 60,000 people. Prostitution, gambling, and drug abuse (particularly of opium) were widespread. Chinese criminal secret societies (analogous to modern-day triads) were extremely powerful, and some had tens of thousands of members. HP G62-a57SG CPU Fan
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