Ringgit drop not good for Singapore, says Shanmugam
He also cites rising influence of religion in Malaysia and growing US-China-Japan rivalry as S'pore's concerns
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Singapore
THE sharp drop in the Malaysian ringgit may be good news for Singaporean shoppers but not for Singapore, Law and Foreign Minister K Shanmugam said on Thursday.
While the weakened Malaysian currency is a boon to those going on shopping trips across the Causeway, it will have big implications for Singapore because of its strong economic links with the neighbouring country, he said in his speech at the Singapore Press Club's Eminent Speakers Series.
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