• Singapore’s Western ties and talent pool are cited as major attractions for firms, according to the report.
  • The city state boasts 4,200 regional headquarters, significantly surpassing those of Hong Kong.

The preference of the international business community for Singapore as its Asian hub is evident. According to a Bloomberg Intelligence report, Singapore hosted regional headquarters for 4,200 multinational firms in 2023, maintaining its lead and overshadowing Hong Kong, its primary competitor, which hosted only 1,336 regional headquarters. The report highlights Singapore's ascension as Asia's premier business destination. Additionally, the report notes that even many Chinese companies, aiming to mitigate geopolitical risks and expand their presence, are choosing Singapore over Hong Kong.

Thomas Zilliacus, a Finnish entrepreneur who made an unexpected bid for Manchester United Plc last year, is now facing legal action in Singapore. An arrest warrant and an Interpol Red Notice have been issued against him. The Singapore Police Force stated on Wednesday that Zilliacus is wanted for his alleged role in the dissemination of misleading statements by Yuuzoo, a company he previously led in Singapore.