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1985: Pan-El capped watershed year for S'pore

The Pan-El saga has had a part in helping to shape the modern state of Singapore.

MAS was brought in after a Pan-El creditor banks meeting, because of worries about the high-profile problems and implications for the markets and politics.

FOR the first 20 years of its existence as a fully independent nation, Singapore developed at a pace matched only by China in recent years. Average GDP growth exceeded 8 per cent. The island began to be transformed into a major industrial hub, with development concentrated in Jurong. Transport...

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