Finance minister to succeed S’pore PM

Singapore's Prime Minister Lee Hsien Loong yesterday said that Finance Minister Lawrence Wong would succeed him as the city-state's leader. Wong was chosen as leader of the ruling People's Action Party's (PAP) so-called fourth generation team, according to an announcement on Thursday, paving the way for him to become prime minister. "The plan is for Lawrence to succeed me as PM, either before or after (if the PAP wins) the next General Election. It is due in 2025 and will surely be a tough fight," Lee said in a social media post yesterday. Lee, whose father Lee Kwan Yew was the island nation's independence leader, has been prime minister since 2004. Stability has long been one of wealthy Singapore's major strengths, making it a haven for investors and businesses in a region where political upheaval is not uncommon.