The passing of Lee Kuan Yew marks the end of a glorious chapter for Singapore during which, over three decades under his guidance, this tiny city state grew at a prodigious rate into one of very few modern metropolises in which international corporations could base a business and build a beach head into the fast growing developing nations which surround this island.

Educated in the UK like so many of the current cadre of leaders (as also was his son, the current incumbent Prime Minister), Lee senior nonetheless strove to build a respected education platform in Singapore, a city that today boasts a very strong reputation for home grown talent. Today, the city thrives on providing a home for families from all over the world to live and work, in safety and with an infrastructure that is arguably second to none. The connection with the United Kingdom remains extremely strong, with English common law still providing the foundation of the legal system. Consequently, Singapore has positioned itself as a regional centre for arbitration and dispute resolution.

The solid legal framework and the establishment of a number of robust local and international banks have also helped the nation attract vast amounts of private capital into a well regulated financial hub. Trade finance is also an important driver of the success of the banking sector. Politically, it now appears that the apparatus that Mr Lee put in place to achieve these and other goals may be somewhat outdated, and the political establishment appears cognisant of the need for change. Nonetheless, for the majority of inhabitants of the oddly named Lion City (Sengapura in the language of the first arrivals on the island inhabited by the mythical Merlion) there seems to be a quiet insouciance vis a vis the political establishment which may well stem from a pride in the achievements of this remarkable leader who resolutely worked to achieve what he did against all the odds.