Business investment into Singapore surges to seven-year high [Reuters]
Sea Limited American Depositary Shares, each representing one Class A Ordinary Share (SE)
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Source: Reuters
Business investment into Singapore surges to seven-year high SINGAPORE (Reuters) - Business investment commitments into Singapore jumped nearly 40% last year to a seven-year high, far more than expected as some key sectors bet on rising demand, a government agency said. Commitments for investments in fixed assets such as facilities, machinery and other equipment surged to S$15.2 billion ($11.3 billion) in 2019, well above a forecast range of S$8-10 billion, according to Economic Development Board (EDB) data. The numbers reflect Singapore’s strong fundamentals, companies’ confidence in the city-state and its strategic position in a fast growing Asia, EDB Chairman Beh Swan Gin said at a briefing. He attributed the growth to companies in the semiconductor and chemical sectors committing to make investments in preparation for an eventual upturn that they are expecting in the coming years. Some chipmakers have started expecting a recovery from the industry downturn, helped by a pick up in
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