MAS chairman Loong set to become PM
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 unanimously supported the party leadership's choice of Lee Hsien Loong as the next prime minister.
Zainudin Nordin, a first-term MP, said the party executive's decision to consult him and his colleagues was a measure of progress.
"Whether people see it as rubber-stamping, or whether real contributions are made, it's a good beginning," Mr Nordin told The Straits Times.
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