Singapore names Heng Swee Keat as new finance minister

SINGAPORE: Singapore's new finance minister will be Heng Swee Keat, replacing Tharman Shanmugaratnam who will remain deputy prime minister in a new cabinet, the prime minister announced on Monday, just over two weeks after winning a general election.

Heng is currently education minister and was a former managing director of Singapore's central bank.

Shanmugaratnam, an international financial expert who has worked for the International Monetary Fund, will also be the coordinating minister for economic and social policies.

Prime Minister Lee Hsien Loong told a news conference the new cabinet would prepare the next team of leaders to be ready to take over from him and his senior colleagues after the next general elections, due within five years.

Lee and his People's Action Party, which has ruled the city-state since its independence in 1965, won a convincing general election victory this month, with 69.9 percent of the vote, the highest win since 2001. - Reuters
Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Next In Business News

Downward pressure on ringgit continues
Bursa starts August on cautious note
Quick take: Westports rises 3.2% on in-line earnings
Kenanga maintains 'market perform' on Maxis
Trading ideas: Axiata, Kerjaya Prospek, Westports, Maxis and Unisem
Quick take: Mi Technovation shares up on record profit
Unisem remains proxy for growth in semiconductor sector
Summary of top read business stories July 26 to 31
Mileage-based insurance with easy access emergency assistance
Pfizer and Moderna raise prices for COVID-19 vaccines in EU

Stories You'll Enjoy