Singapore Prime Minister Goh Chok Tong on Saturday appointed his deputy Lee Hsien Loong as finance minister in the new cabinet, launching his plan to hand over power to the next generation of leaders.
Lee, 49, is expected to succeed Goh, 60, before the next elections are held in 2007. He is already chairman of the Monetary Authority of Singapore (MAS), the de facto central bank.
He is the son of former prime minister Lee Kuan Yew, 78, who was retained by Goh as senior minister in the cabinet formed two weeks after the ruling People's Action Party (PAP) swept 82 of the 84 parliamentary seats.
Former finance minister Richard Hu, 75, has retired from politics.
The junior Lee is also in charge of the island's economic restructuring program as it undergoes its worst recession since independence in 1965.
Premier Goh has said he would step down before the next general elections in 2007 and hand over leadership to a new generation of politicians as part of a deliberate "conveyor belt" system of leadership replenishment.
Two other young politicians from the younger generation were named to full ministerial posts.
Lim Swee Say, 46, a computer expert and trade unionist with extensive economic and government experience, was given the environment portfolio.
David Lim, 46, an engineer and former industrial park manager, was named acting minister of the expanded ministry of information, communications and the arts, in addition to being senior minister of state for defense.
Lee Yock Suan, 55, the former information and communications minister, was named minister at the prime minister's office and second minister for foreign affairs.
Yeo Cheow Tong, 54, was given a streamlined ministry of transport, whose communications and information technology functions were transferred to former information and arts ministry.
Veterans Tony Tan, 61, and S. Jayakumar, 62, retained their posts as defence minister and foreign minister respectively, and George Yeo, 47, remained as the city-state's trade and industry minister.
Other officials who retained their posts were Wong Kan Seng, 55, as minister for home affairs, Lee Boon Yang, 54, for manpower, Mah Bow Tan, 53, for national development, Lim Boon Heng, 54, as minister at the prime minister's office and Lim Hng Kiang, 47, for health, as well as second minister for finance.
Abdullah Tarmugi, 57, remained as minister for community development and sports and minister in charge of Muslim affairs, while Teo Chee Hean, 46, was reappointed minister for education and second minister for defense.
At the end of the year, Lee Boon Yang and David Lim will exchange their ministerial portfolios, a statement from Goh's office said.
Seven new MPs were appointed as senior ministers of state or ministers of state, as they should "spend more time as back-benchers to gain experience in the political arena," the statement said -- SINGAPORE (AFP)
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