The Republic of Singapore, a British Commonwealth nation situated at the southern tip of the Malayan peninsula, has an area of 263 sq. mi. (682 sq. km.) and a population of 4.1 million. Capital: Singapore. The economy is based on electronics production, petrochemicals, pharmaceuticals, and shipbuilding/repairs. It is a world financial, business E-commerce, oil reefing, and air services center, besides having the busiest port in terms of shipping tonnage and containers handled. ,Singapore?s modern history ? it was an important shipping center in the 14th century before the rise of Malacca and Penang ? began in 1819 when Sir Thomas Stamford Raffles, an agent for the British East India Company, founded the town of Singapore. By 1825 its trade exceeded that of Malacca and Penang combined. The opening of the Suez Canal (1869) and the demand for rubber and tin created by the automobile and packaging industries were combined to form the Straits Settlements, which was made a Crown Colony in 1867. Singapore became a separate Crown Colony in 1946 when the Straits Settlements was dissolved. It joined in the formation of Malaysia in 1963, but broke away on August 9, 1965, to become an independent republic. Continued economic prosperity has made Singapore an influential member of the Asian economic community. Singapore is a member of the Commonwealth of Nations. The president is Chief of State. The prime minister is Head of Government.,, Monetary System:,,, ,1 Dollar = 100 Cents ,,