Singapore Prime Minister Lee Hsien Loong announced the line-up for the new cabinet on Wednesday, with Law Minister K. Shanmugam also taking up the post of foreign minister as George Yeo leaves the cabinet.

The new cabinet will be sworn into office by President S R Nathan on Saturday, the prime minister said.

In the reshuffle that came days after the general election, Deputy Prime Minister Wong Kan Seng, National Development Minister Mah Bow Tan and Transport Minister Raymond Lim will be leaving, while former central bank chief Heng Swee Keat will be the new minister for education. Former army chief Chan Chun Sing will be acting minister for community, development and sports as well as minister of state for information, communications and the arts.

Both Senior Minister Goh Chok Tong and Minister Mentor Lee Kuan Yew will leave the cabinet, as announced earlier. But Goh, 69, will be given the title emeritus senior minister and appointed as senior advisor to the Monetary Authority of Singapore, and Lee Kuan Yew, 87, will be senior advisor to Government Investment Corporation of Singapore.

"MM (Lee Kuan Yew) and SM (Goh Chok Tong) have dedicated their lives to Singapore, building the nation, raising the living standards and enabling future generations to enjoy a better life and transform Singapore. Now they have decided it's time for them to step down and to leave it to me and my team of younger ministers to take Singapore forward into the future," Lee said.

"I have thought this over carefully over the last four days and decided to accept their decision," he said. "I thank them for all that they have done, not just on my own behalf, but on behalf of all the people of Singapore."

Goh and Lee Kuan Yew issued a joint statement last week to announce that they will not be members of the new cabinet.

The reshuffle came after the ruling People's Action Party retained its absolute majority in the parliament in the recent general election but lost a group representation constituency for the first time. Foreign Minister George Yeo was a member of the team of the candidates for the lost constituency.

Out of the 14 ministries, 11 will have new ministers in charge.

This will be a fresh team that will look at the future with a clean slate, said the prime minister.