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Too early to say if Singapore will benefit from Brexit: Analysts
Too early to say if Singapore will benefit from Brexit: Analysts
TUESDAY, 5 JULY 2016 – Banks in Britain have started working on a possible move to other financial cities in Europe after the shock Brexit decision but it remains to be seen if Singapore will see any direct benefits from that.
Experts did note that Singapore’s strong business competitiveness makes it an attractive destination but the decision will depend on what the banks are looking to do next.
Dr Chua Yang Liang, JLL’s South-east Asia research head, said: “The situation depends very much on why these banks are looking to move out of London – is it to focus on their business in the Asia-Pacific or are they relocating due to the uncertainty in Britain?