Parliament passes record $143 billion budget to tackle economic challenges; Singapore processes Indonesia extradition request for Tannos: Singapore live news

Yahoo

11-03-2025

Hello to all our readers, Yahoo Singapore will be bringing you live news updates today. The editorial team will be curating the latest must-know local and international news.
First off, Singapore passed an historic $143 billion Budget for 2025 on Monday (10 March), the largest in the country's history. This budget is the final one of the current government term and focuses on sustaining post-pandemic recovery while preparing for long-term growth. The plan includes investments in housing, sustainability, and workforce transformation, positioning Singapore for continued success globally. Minister Indranee Rajah emphasised the nation's prudent fiscal approach, which allowed it to respond swiftly to global crises without accumulating significant debt. Prime Minister Lawrence Wong confirmed that the policies set forth in Budget 2025 will build a stronger, more resilient society for Singapore's future. Read more about Budget 2025 here.
Meanwhile, Singapore is processing its first extradition case under its 2024 treaty with Indonesia for businessman Paulus Tannos, who is accused of embezzling millions in a corruption case related to Indonesia's electronic ID card project. Tannos, arrested in January 2025, has been in Singapore since 2017 and holds permanent residency. The legal process could take up to six months, though Tannos intends to appeal the decision, potentially prolonging the extradition process. Read on Indonesia's request for Singapore to extradite the corruption fugitive here.
Read more in our live blog below, including the latest local and international news and updates.
Singapore is handling its first extradition case under the recently implemented treaty with Indonesia.
The case involves businessman Paulus Tannos, who is wanted in Indonesia for his alleged involvement in a massive corruption scandal tied to the country's electronic identification card project.
The scandal, which has caused an estimated loss of 2.3 trillion rupiah (S$187.4 million/US$140.72 million), sees Tannos accused of embezzling funds in collusion with government officials and lawmakers.
Tannos, who has been living in Singapore since 2017, was arrested on 17 Jan 2025, following an official extradition request from Indonesia.
Singapore's Law and Home Affairs Minister, K Shanmugam, confirmed that Tannos is currently in remand without bail.
The businessman has expressed his intent to appeal the extradition decision, a move that could significantly extend the process.
If uncontested, the process could take as little as six months, but legal challenges could stretch it for years.
The extradition request comes as part of a treaty that went into effect in March 2024, allowing for the return of criminals who have committed offences in either country.
Tannos is accused of using his company to secure a government contract for the ID card project, inflating the price in exchange for bribes.
The project has been a major source of corruption in Indonesia, with Tannos named among the primary figures involved.
The Singaporean authorities are working closely with their Indonesian counterparts to ensure a smooth extradition process.
However, the completion of this case depends on the clarity of the documents and legal arguments from both sides.
Indonesia sent preliminary documents for the extradition in December, which led to the issuance of an arrest warrant in January.
Tannos holds permanent residency in Singapore and holds a diplomatic passport from Guinea-Bissau, though his diplomatic immunity is not recognised by Singapore due to his lack of official accreditation.
Read on Singapore processing Indonesia's first extradition request here.
In a landmark move, Singapore's Parliament has officially passed its largest-ever budget, a record-breaking $143.1 billion for the upcoming fiscal year.
This budget marks the final one of the current government term, coinciding with the nation's 60th year of independence.
It encapsulates a strategic and resilient fiscal response to the unprecedented challenges faced by Singapore in recent years, including the COVID-19 pandemic, global economic disruptions, and rising inflation.
Budget 2025, unveiled by Leader of the House and Minister Indranee Rajah, underscores the government's ability to maintain socio-economic stability and chart a path forward despite volatile global circumstances.
In her speech, Ms Indranee highlighted the critical role that previous budgets, particularly those passed in the pandemic years, played in ensuring Singapore's swift recovery.
These measures, which included support for businesses and workers, allowed Singapore to avoid significant debt while responding decisively to crises.
'Through careful long-term planning and prudent fiscal policy, we steered Singapore through some of the most turbulent times in modern history,' Ms Indranee said.
She emphasised that the country's fiscal discipline allowed it to allocate substantial funds – over $80 billion – for pandemic relief without burdening future generations.
Budget 2025 sets the stage for key initiatives in the post-pandemic era, including public housing reforms, workforce transformations, and the ongoing green transition.
Singapore's competitiveness on the global stage remains a top priority, with investments in sustainability and innovation marking the budget as a forward-looking plan for the next generation.
As Singapore celebrates its 60th year, Ms Indranee also reflected on the nation's achievements.
From global rankings in innovation to maintaining low inequality levels, Singapore's success is a testament to effective governance and the trust between the government and its people.
The 2025 Budget, she noted, is not only a response to current needs but also a blueprint for the future.
Prime Minister Lawrence Wong, who also serves as Finance Minister, reaffirmed that Budget 2025 would lay the foundation for a resilient and inclusive Singapore, ensuring that every citizen benefits from the country's progress.
Read on here for more on Budget 2025.
Singapore is handling its first extradition case under the recently implemented treaty with Indonesia.
The case involves businessman Paulus Tannos, who is wanted in Indonesia for his alleged involvement in a massive corruption scandal tied to the country's electronic identification card project.
The scandal, which has caused an estimated loss of 2.3 trillion rupiah (S$187.4 million/US$140.72 million), sees Tannos accused of embezzling funds in collusion with government officials and lawmakers.
Tannos, who has been living in Singapore since 2017, was arrested on 17 Jan 2025, following an official extradition request from Indonesia.
Singapore's Law and Home Affairs Minister, K Shanmugam, confirmed that Tannos is currently in remand without bail.
The businessman has expressed his intent to appeal the extradition decision, a move that could significantly extend the process.
If uncontested, the process could take as little as six months, but legal challenges could stretch it for years.
The extradition request comes as part of a treaty that went into effect in March 2024, allowing for the return of criminals who have committed offences in either country.
Tannos is accused of using his company to secure a government contract for the ID card project, inflating the price in exchange for bribes.
The project has been a major source of corruption in Indonesia, with Tannos named among the primary figures involved.
The Singaporean authorities are working closely with their Indonesian counterparts to ensure a smooth extradition process.
However, the completion of this case depends on the clarity of the documents and legal arguments from both sides.
Indonesia sent preliminary documents for the extradition in December, which led to the issuance of an arrest warrant in January.
Tannos holds permanent residency in Singapore and holds a diplomatic passport from Guinea-Bissau, though his diplomatic immunity is not recognised by Singapore due to his lack of official accreditation.
Read on Singapore processing Indonesia's first extradition request here.
In a landmark move, Singapore's Parliament has officially passed its largest-ever budget, a record-breaking $143.1 billion for the upcoming fiscal year.
This budget marks the final one of the current government term, coinciding with the nation's 60th year of independence.
It encapsulates a strategic and resilient fiscal response to the unprecedented challenges faced by Singapore in recent years, including the COVID-19 pandemic, global economic disruptions, and rising inflation.
Budget 2025, unveiled by Leader of the House and Minister Indranee Rajah, underscores the government's ability to maintain socio-economic stability and chart a path forward despite volatile global circumstances.
In her speech, Ms Indranee highlighted the critical role that previous budgets, particularly those passed in the pandemic years, played in ensuring Singapore's swift recovery.
These measures, which included support for businesses and workers, allowed Singapore to avoid significant debt while responding decisively to crises.
'Through careful long-term planning and prudent fiscal policy, we steered Singapore through some of the most turbulent times in modern history,' Ms Indranee said.
She emphasised that the country's fiscal discipline allowed it to allocate substantial funds – over $80 billion – for pandemic relief without burdening future generations.
Budget 2025 sets the stage for key initiatives in the post-pandemic era, including public housing reforms, workforce transformations, and the ongoing green transition.
Singapore's competitiveness on the global stage remains a top priority, with investments in sustainability and innovation marking the budget as a forward-looking plan for the next generation.
As Singapore celebrates its 60th year, Ms Indranee also reflected on the nation's achievements.
From global rankings in innovation to maintaining low inequality levels, Singapore's success is a testament to effective governance and the trust between the government and its people.
The 2025 Budget, she noted, is not only a response to current needs but also a blueprint for the future.
Prime Minister Lawrence Wong, who also serves as Finance Minister, reaffirmed that Budget 2025 would lay the foundation for a resilient and inclusive Singapore, ensuring that every citizen benefits from the country's progress.
Read on here for more on Budget 2025.