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SINGAPORE ECONOMY

Asian boom drives Singapore R&D in consumer goods

Retail sales volumes in Asia are tipped to rise by 3.3 per cent in 2020, outpacing the global average of 2.2 per cent

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The Procter & Gamble Pioneer plant makes fragrances for use in products across 22 P&G brands. FMCG multinationals are making Singapore a home base for manufacturing, research, or both, given resilient consumer demand within the region.

Singapore

SLAMMED by a slump in global electronics, the manufacturing sector has spent the year in the red - but the fast-moving consumer goods (FMCG) segment continues to show promise.

Yet, with food and beverage (F&B) and tobacco just 5.4 per cent of Singapore's weighted...