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Mulling a shift in HQ

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''One day Shanghai will become the centre (for asset management), although not so soon. There is so much money in China,'' says Mr Wong.

APS Asset Management has mulled a shift in its headquarters from Singapore to Shanghai.

"We haven't made a decision yet. Costs are very high here, and there is not much business,'' Wong Kok Hoi says. Singapore accounts for less than 5 per cent of assets raised. Portfolio exposure to