I read that Nokia has decided to move its Asian headquarters from Singapore to Beijing, citing high operating cost and other reasons. Google choose Kuala Lumpur to be their regional base, instead of Singapore.
A friend, who was in charge of planning for a large multi-national company with wafer fab operations in various countries in Asia told me that it is too costly to manufacture in Singapore. He said that a factory in Singapore that requires spare parts pay 2 to 3 times of the price that a Taiwan factory pays to their local suppliers. Someone, the Singapore suppliers charge too much, even for spare parts that are imported from overseas.
A few people have told me that they can buy electronic products from Hong Kong at a price 20% lower than Singapore.
These are all signs of Singapore becoming too costly for business. I hope that our Ministry of Trade and Industry and Ministry of Finance are aware of these indicators. They are quite worrying.
A friend, who was in charge of planning for a large multi-national company with wafer fab operations in various countries in Asia told me that it is too costly to manufacture in Singapore. He said that a factory in Singapore that requires spare parts pay 2 to 3 times of the price that a Taiwan factory pays to their local suppliers. Someone, the Singapore suppliers charge too much, even for spare parts that are imported from overseas.
A few people have told me that they can buy electronic products from Hong Kong at a price 20% lower than Singapore.
These are all signs of Singapore becoming too costly for business. I hope that our Ministry of Trade and Industry and Ministry of Finance are aware of these indicators. They are quite worrying.
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