Singapore prime minister Lee Hsien Loong announced that he will hand over leadership of the ruling People's Action Party to deputy prime minister Lawrence Wong in November 2024, a year before the next election. Wong is expected to become Singapore's fourth premier. Lee, who has been in power since 2004, delayed the leadership transfer due to the Covid-19 pandemic. Analysts view the early transfer as a "bold move" but do not expect it to impact political stability.