Eventually Raffles settled on the island of Singapore, because of its position at the southern tip of the Malay peninsula, near the Straits of Malacca, and its excellent natural harbor, fresh water supplies, and timber for repairing ships. Most importantly, it was unoccupied by the Dutch.
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.
Why did Britain choose Singapore as a trade base?
The geographic condition of Singapore was one of the major reasons that had resulted in Singapore being chosen as the place for the British to set up their new port. In the early 19th century, a great source of income for the British through trading was their lucrative opium-silk and tea trade with China.
When did Raffles implement the free port status in Singapore?
Although he returned to his post at Bengkulu for three years, he went back to Singapore in October 1822, when he reorganized the various branches of the administration. His regulations of January 1823 stated, the Port of Singapore is a free Port, and the trade thereof is open to ships and vessels of every nation . . .
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.
Who bought Singapore in 1819?
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.
Is Singapore still a British colony?
The Crown colony was dissolved on 16 September 1963 when Singapore became a state of Malaysia, ending 144 years’ of British rule on the island. On 9 August 1965, Singapore officially left Malaysia to become the independent Republic of Singapore, due to political, economic and racial disputes.
How did the British establish a trading post 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. This agreement was put to pen with a formal treaty on 6 February 1819.