What is Singapore's Competitive Edge in the Future?

I've been seeing lots of articles about semiconductor manufacturers and data centres setting up in Malaysia. Many companies are also moving their offices to KL to take advantage of lower costs. There are also plans to double Malaysia's port capacity. These used to be our forte. So I wonder what is the competitive edge of Singapore in the future?

We lack land and people here, and the high wages can be a double-edged sword. Electricity and water (both needed for data centre) is also less abundant here. Malaysia's population is English-educated and can probably do the same jobs as Singaporeans. Add to the fact that Anwar has a strong mandate and will likely finish his term without any troubles (and I reckon he will win another term). Should we be afraid? Should we get ready to pack our bags?