Senior Minister highlights global uncertainties, Budget support measures, and community unity at festive celebration in Ang Mo Kio.
Senior Minister Lee Hsien Loong attended the Teck Ghee Chinese New Year Celebration Dinner on 28 February 2026 in Ang Mo Kio, Singapore. He welcomed residents, community leaders, and guests to celebrate the Year of the Horse together.
The event was held during a special period as Chinese New Year coincided with Ramadan. SM Lee extended festive greetings to Chinese residents and also wished Malay-Muslim guests a blessed Ramadan. He said this reflects Singapore’s unique harmony, where people of different races and religions celebrate together in unity.
Looking back at the Year of the Snake, SM Lee said Singapore performed better than expected. The economy grew by 5% in 2025. Wages increased and inflation eased. He noted that despite global tensions, Singapore continued to attract foreign investments and create jobs.
However, he warned that the global situation remains uncertain. He pointed to recent developments in the United States, where tariff policies have changed quickly following legal rulings and new decisions by the US administration.
On the security front, he also highlighted rising tensions in the Middle East. He said conflict involving the United States, Israel, and Iran could affect energy prices and impact countries far from the region, including Singapore. As a small and open economy, Singapore must stay prepared for sudden global changes.
SM Lee said while Singapore cannot control global events, it can prepare itself. He referred to measures announced by Prime Minister Lawrence Wong in Budget 2026.
The Government will continue to support businesses, workers, households, seniors, and vulnerable groups. Special focus will be given to helping Singaporeans learn new skills, especially in Artificial Intelligence (AI), to stay competitive.
To ease cost-of-living concerns, adults will receive a Cost-of-Living Special Payment of between $200 and $400 this year. Every household will receive $500 in CDC vouchers in January next year. U-Save rebates will also continue and be more generous than last year. Many households will receive some form of support almost every month through various schemes.
SM Lee also paid tribute to two long-serving community leaders, Mr Yeo Toon Chia and Dr S Vasoo. Both recently stepped down as Second Advisors to Ang Mo Kio Grassroots Organisations after decades of service.
He thanked them for their dedication to residents in Ang Mo Kio and Teck Ghee. He also welcomed MP Nadia Samdin, who will take on additional responsibilities in Teck Ghee while continuing her work in Cheng San Division.
In his closing remarks in Chinese, SM Lee encouraged residents to continue upgrading themselves and stay united despite global challenges. He expressed hope that the Year of the Horse would bring peace, stability, and good health to all.
The dinner ended on a warm and hopeful note, with residents celebrating the festive season together as one community.
Source: PMO
