On 15 August, Japan announced its surrender. The formal signing of the surrender was held at City Hall, Singapore on 12 September. This was followed by a celebration at the Padang, which included a victory parade. Lord Louis Mountbatten, Supreme Allied Commander of South East Asia Command, came to Singapore to receive the formal surrender of the Japanese forces.
After the surrender there were widespread incidents of looting and revenge-killing. Much of Singapore had been wrecked, including the harbour facilities and electricity, water supply, and telephone services. It took four or five years for the economy to return to normal. When British troops finally arrived they met with cheers.Banana money became worthless after the occupation ended. Many individuals who had acquired their wealth through banana currency were rendered penniless overnight
Sources --> http://en.wikipedia.org/wiki/Japanese_occupation_of_Singapore
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