SINGAPORE - Mr Heng Swee Keat would be "happy to continue" as Finance Minister following the upcoming Cabinet reshuffle, he said at a media briefing on Wednesday (April 18).

He added that Singapore continues to face fiscal challenges and there is still much work to be done at his ministry.

The minister was responding to queries about whether he is likely to hold on to his portfolio after the upcoming Cabinet reshuffle.

Mr Heng is among the three fourth-generation ministers touted to be in the running to become Singapore's next prime minister. The other two are Minister in the Prime Minister's Office Chan Chun Sing; and Minister for Education (Higher Education and Skills) Ong Ye Kung.

Mr Heng said the Finance Ministry will be kept busy in the coming years dealing with the challenges of allocating Singapore's limited fiscal resources.

"There are important expenditure needs to provide for," he noted."We want to be able to make the best use of our resources to achieve our economic and social needs, while maintaining a high level of security. Allocating the Budget across these different areas is a major challenge."

Singapore as well as other countries around the world are also devoting more attention to international tax revenue collection, Mr Heng said.