MAS chairman Loong set to become PM

Singapore's ruling party has approved the appointment of founding father Lee Kuan Yew's son, the chairman of the Monetary Authority of Singapore, as the next prime minister.

The elevation of Lee Hsien Loong, at present Deputy Prime Minister, Finance Minister and chairman of the central bank, will tighten the Lee family's grip on the levers of political and corporate power.

A statement released by the PAP - which has ruled Singapore since independence in 1965 - said a meeting of MPs had unanimo