SINGAPORE: The island nation’s campaign to woo...
SINGAPORE: The island nation’s campaign to woo foreign investment is gathering momentum among Hong Kong companies haunted by an uncertain future. Many Hong Kong-based companies, worried about their fate after the British colony reverts to Chinese rule in 1997, see Singapore as one of the best options for their operations. Like Hong Kong, Singapore is a predominantly Chinese island but has large Malay and Indian minorities. It shares with the crown colony a reverence for commerce. Kenneth Koo, managing director of Hong Kong’s Tai Chong Cheang Steamship Co., said Singapore’s tax incentives, cheaper labor and rental costs, developed infrastructure and pool of financial professionals made it the logical choice for his company.
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