SINGAPORE IS A SMALL island city state that was, until its separation in 1965, part of Malaysia. As a former British colony, much of its legal system and business practices are based on British models. In the case of Singapore, it has been the government that has been the leading driver of economic development and government-linked companies (GLCs), together with multinational enterprises, have been the most influential actors in business. The economic downturn of the mid-1980s persuaded the Singaporean government of the importance of entrepreneurship in addition to the existing driving forces, and thus, it has encouraged Singaporeans to conduct their own overseas foreign investment. In doing so, some entrepreneurs have used their own personal networks and, while there is no suggestion of impropriety, it ...

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