S I N G A P O R E

Singapore is a thriving and vibrant modern global metropolis, a symbol of the rising economic influence of Asia. It lies off the southernmost tip of Peninsula Malaysia in South-East Asia. A population of about 3 million reside on this island of area 641 square kilometres. Since self-rule in 1959 and independence from the British in 1965, Singapore's growth has been nothing short of phenomenal. Singapore has a Parliamentary democracy, a strong and stable government, an efficient civil service and an impartial judicial system. These factors together with a skilled labour force and peaceful industrial relations have both encouraged local investments and attracted overseas investments, turning Singapore into one of the economic powerhouses of Asia. It is now acknowledged to be one of the principal commercial, financial and industrial centres of the Asia Pacific region. Singapore boasts one of the best airports, seaports, and telecommunication and infrastructure facilities in the world.

With regard to its international obligations to protect foreign contractual and intellectual property rights, Singapore has in force the legislation to recognise judgments obtained in countries with reciprocal arrangements. Once registered in Singapore, these judgments enjoy the same status as a local judgment and can be similarly enforced in the Singapore courts. The Singapore International Arbitration Centre (SIAC) was also established in 1990 to provide a forum for arbitrations and alternative dispute resolutions. Singapore has enacted the Singapore International Arbitration Act which adopts the UNCITRAL Model Law on International Commercial Arbitration, and also covers other matters relating to international arbitration such as confidentiality, conciliation and immunity of arbitrators, bringing the Singapore legislative framework in line with international commercial arbitration practice. This effectively provides for the reciprocal - enforcement in Singapore of arbitral awards obtained in many countries which have adopted the Model Law. The Singapore Arbitration (Foreign Awards) Act also gives effect to the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards.

The Singapore Merlion Singapore was formerly known as Temasek, which took its name from the Indonesian word for sea - tasek. It started life as a sleepy fishing village. An Indonesian prince, Sang Nila Utama, while on the island, chanced upon a tiger. Mistaking the magnificent beast for a lion, he named the island Singapura, or Lion City. The Merlion - half lion, half fish - is a symbol of Singapore's origins and its dependence on the seao At the crossroads of major shipping routes, Singapore grew to be one of the most important trading posts in Asia. The foundation for modern Singapore was laid in its deep water harbour.