Singapore's finance minister Heng named deputy PM

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UPDATED 5.09PM | Speculations have been rife that he will be the next prime minister.

Singapore Finance Minister Heng Swee Keat is set to become deputy prime minister, the prime minister's office said in a statement on Tuesday, strengthening expectations he will take over as the future leader of the wealthy city-state.

Teo Chee Hean and Tharman Shanmugaratnam will relinquish their roles of deputy prime ministers but will remain in the cabinet as senior ministers.

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