Singapore: Past Perfect, Future Tense?


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Case Details:

Case Code : BENV008
Case Length : 27 Pages
Period : 1959-2006
Pub Date : 2006
Teaching Note : Available
Organization : -
Industry : Diversified
Countries : Singapore

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This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.

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Introduction Contd...

Towards this end, the GoS chose to focus its efforts on developing Singapore as a hub for service industries like education, health care services, arbitration and legal services, digital technology, biotechnology (research), and tourism. However, the country faced several challenges like the emergence of competing regional hubs, growth in illegal activities, and the threat from global terrorism. Also, Singapore came in for a lot of criticism for its record on human rights, and for curbing the freedom of the press and the right to information. Some political analysts felt that Singapore's political system was not truly democratic. Some analysts even took the view that with the growth and prosperity of other Asian economies, Singapore would cease to be a hub and would eventually decline in importance.

Background Note

Singapore was originally a small fishing village. References to the region date back to the third century, when the Chinese called it Pu-luo-chung, meaning 'island at the end of a peninsula' (See Exhibit I for Key Information on Singapore). According to historical accounts, the Chinese started living in the island in greater numbers in the 13th century. In the 14th century, the island came to be known as Singapura, Malay for 'Lion City'. The name later evolved to become Singapore.

From the 16th century to the early 19th century, Singapore remained a part of the Sultanate of Johor, a small kingdom in present day Malaysia.

In 1819, the British East India Company needed a trading post to conduct trade with China. Singapore, with its natural, deep harbor and strategic location (for ships traveling between East Asia and Europe), was an ideal choice. So, the East India Company entered into a treaty with the Sultan of Johor to set up a trading post at Singapore. Over time, Singapore became a major port of call for ships. In 1824, Singapore became a crown colony of Britain. In 1826, Singapore, together with Malacca and Penang, came under the control of British India.

In the mid 20th century, Singapore continued to grow as a regional entrepôt . This led to the growth of storage and warehousing, shipping, and banking services and Singapore gradually gained expertise in trade, transport, and finance...

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