'Washminster' system of Australia, Despite their successes in governing Singapore the PAP leaders believed that Singapore's future lay with Malaya due to strong ties between the two nations It was thought that the merger would benefit the economy by creating a common market which will support new industries solving the ongoing unemployment woes in Singapore However a sizeable pro-communist wing of the PAP was strongly opposed to the merger fearing a loss of influence and hence formed the Barisan Sosialis splitting from the PAP. This was because the ruling party of Malaya United Malays National Organisation (UMNO) was staunchly anti-communist and would support the non-communist faction of PAP against them UMNO who was initially sceptical of the idea of a merger as they distrust the PAP government and were concerned that the large Chinese population in Singapore would alter the racial balance on which their political power base depended changed their minds about the merger after being afraid of being taken over by pro-communists On 27 May 1961 Malaya's Prime Minister Tunku Abdul Rahman made a surprise proposal of a Federation of Malaysia comprising existing Federation of Malaya Singapore Brunei and the British Borneo territories of North Borneo and Sarawak the UMNO leaders believed that the additional Malay population in the Borneo territories would offset Singapore's Chinese population the British government for its part believed that the merger would prevent Singapore from becoming a haven for communism to secure the mandate of the people the PAP called for the 1962 Merger Referendum which provided different terms for merger with Malaysia but no options for avoiding it As a result on 16 September 1963 Singapore joined with the Federation of Malaya the Crown Colony of Sarawak and the Crown Colony of North Borneo to form the new federation of Malaysia under the terms of the Malaysia Agreement with Singapore being granted a high level of autonomy compared to other states in Malaysia, Nasi goreng steamed rice stir-fried in a wok often mixed with other ingredients such as eggs vegetables and meat. Singapore business directory 1.4 UMNO Baru (New UMNO). ; See also: List of mammals of Singapore, House of Representatives Monarchy SGX's plans to buy ASX have drawn criticism from the Tokyo Stock Exchange which is the second largest shareholder in SGX A representative of the TSE said SGX's bid for ASX "would flag off a race to consolidate". TSE chief Atsushi Saito fears isolation of the Tokyo Stock Exchange as a result of the takeover. !
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