Jump in foreign-held companies set up in Q1
Singapore
HALF of the newly formed businesses in the first quarter of this year were foreign-held companies, pushing up the proportion of 100 per cent foreign-held companies from 24 per cent in Q4 last year to 37 per cent in Q1 this year.
This is the first time wholly locally-held companies have not dominated the pie, according to Hawksford's Business Formation Statistics Report. The remaining 13 per cent of newly formed companies constitute companies with both local and foreign shareholding.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Li Auto sales disappoint amid tepid demand for electric cars
CapitaLand Ascendas Reit issues S$300 million green notes due 2034 at 3.73%
Apple slashes iPhone prices in China amid fierce Huawei competition
Gold hits high as Iran shock triggers haven support
Google invests one billion euros in Finnish data centre to drive AI growth
MAS issues 5-year prohibition order against ex-DBS representative for dishonest conduct