$4bn flows from Hong Kong to Singapore: will the CTCs follow their cash?

A recent Goldman Sachs report estimates that capital flows worth $4bn have been lost to Singapore as a result of the recent HK unrest. Where does this leave Hong Kong as a corporate treasury hub?
$4bn flows from Hong Kong to Singapore: will the CTCs follow their cash?
By Peter Shadbolt
Oct 16, 2019
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In terms of overall investment in Hong Kong, $4bn is a mere drop in the ocean. But the fact that corporates and investors with sensitive exposures have thought to relocate deposits to Singapore to get them out of harm’s way in protest-torn Hong Kong is significant.

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