Prof Wang Gungwu, Chairman of ISEAS – Yusof Ishak Institute, Mr Choi Shing Kwok, Director of ISEAS – Yusof Ishak Institute, distinguished guests, ladies and gentlemen. I am very happy to be here to celebrate ISEAS – Yusof Ishak Institute's 50th Anniversary. As Professor Wang just told you, I was privileged also to celebrate your silver anniversary in 1993, twenty-five years ago. I am glad to be back again, a quarter century later, to mark this further milestone.

ISEAS was one of the first research institutes that the government set up after Singapore became independent. In fact, Dr Goh Keng Swee proposed this idea to Cabinet in 1966, just one year into our nationhood. Subsequently, ISEAS was established in 1968.

Why did our founding fathers think of setting up ISEAS, amidst all the pressing economic and social issues they faced? We had high unemployment, a stagnant economy, race relations were still tense after the two race riots when we were in Malaysia. We needed to build houses and schools, to clear slums and create jobs, and gradually foster a sense of nationhood. Yet amidst all these priorities, the founders stepped back from their day-to-day concerns, reflected on Singapore's strategic situation, and decided to invest resources and talent into building a research institution to study Southeast Asia.

Why did they do this? Having lived through momentous upheavals, they understood instinctively how closely our fate was intertwined with the region's. The war was a not very ancient living memory. Southeast Asia was still a troubled and unstable region. Singapore had just separated from Malaysia. Konfrontasi was barely over. President Suharto had only recently taken charge and restored order in Indonesia.

The region was on the frontlines of the Cold War. Communist forces had made advances in Indochina, the Vietnam War was hotting up. Thailand, Malaysia and Singapore, all faced communist insurgencies. The insurgencies were encouraged and supported by China, which was then in the throes of the Cultural Revolution.

Our founding fathers were acutely conscious that to survive in such a difficult environment, a small and newly independent country needed to acquire a deep understanding of the region. Because small countries do not shape world events, events shape us.