The area was under the charge of the Dutch and Bugis, who would never agree to a British base in Singapore. … The British offered to recognise Tengku Hussein as the rightful Sultan of Johor with a yearly payment, in return for the right for the British East India Company to establish a trading post in Singapore.
Why did the British need a new trading settlement?
Why the British needed a new trading settlement in this region? British : afraid that profitable China trade would be affected if Dutch controlled more areas in the Malay Archipelago.
Why was Singapore suitable as a trading port?
Singapore’s excellent location along the Maritime Silk Road meant it was easy for traders to stop by with goods. When Singapore was set up as a free port in 1819, it allowed goods to be traded freely without anyone having to pay heavy fees. … When sea trade increased, so did businesses and jobs.
What do you know about the establishment of a British trading post in Singapore?
On 6 February 1819, Stamford Raffles, Temenggong Abdu’r Rahman and Sultan Hussein Shah of Johor signed a treaty that gave the British East India Company (EIC) the right to set up a trading post in Singapore.
How did Singapore become a trading post?
Raffles, then the Lieutenant-Governor of Bencoolen (now Bengkulu) in Sumatra, landed in Singapore on 29 January 1819. Recognising the immense potential of the swamp-covered island, he helped negotiate a treaty with the local rulers and established Singapore as a trading station.
Who named Singapore?
However, the original legend was that a long time ago, a 14th century Sumatran prince spotted an auspicious beast upon landing on the island after a thunderstorm, which he was told was a ‘lion’. Thus, the name Singapore comes from the Malay words “Singa” for lion and “Pura” for city.
Is Singapore still a free port today?
“The Port of Singapore is a free port, and the trade thereof is open to ships and vessels of every nation, equally and alike to all.” … Almost exactly two centuries later, Singapore remains one of the world’s busiest and most strategically important maritime hubs.
Is Singapore port owned by China?
Today, the agreement is transferred from the Port of Singapore Authority to China Overseas Ports Holding Company Limited,” President Asif Ali Zardari announced. … China paid about 75% of the initial $250 million used to build the port but in 2007 PSA International won a 40-year operating lease.
Why is Singapore so rich?
Today, the Singapore economy is one of the most stable in the world, with no foreign debt, high government revenue and a consistently positive surplus. The Singapore economy is mainly driven by exports in electronics manufacturing and machinery, financial services, tourism, and the world’s busiest cargo seaport.
Was Singapore a British colony?
The Colony of Singapore was a British Crown colony that existed from 1946 and succeeded by the State of Singapore in 1959. When the Empire of Japan surrendered to the Allies at the end of World War II, Singapore was returned to the British in 1945.