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Singapore PM’s wife Ho Ching responds to Bloomberg report on city state gaining from Hong Kong’s ongoing unrest
- Ho Ching, who is CEO of state investor Temasek, remarked on the ‘obsession’ with pitting Singapore against Hong Kong
- Both economies are very different and serve different roles, she explained in a 1,100-word post on Facebook
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The Singapore prime minister’s wife Ho Ching has responded to a recent Bloomberg report suggesting the city has gained from Hong Kong’s ongoing social unrest, explaining that despite being seen as rivals, both economies served very different roles.
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The CEO of state investor Temasek began her more than 1,100-word Facebook post, saying: “Some folks in Hong Kong appear to have an obsession with Singapore as a ‘competitor’.”
The Bloomberg story, written by a Singapore-based correspondent covering Southeast Asia, described the city state as a “long-time rival” to Hong Kong for the title of Asia’s top financial centre.
The writer pointed to how ongoing anti-government protests in Hong Kong – triggered more than four months ago by a now-withdrawn extradition bill – had deterred visitors, while Singapore had seen an uptick in tourism, luxury home sales and currency deposits. About US$4 billion had left Hong Kong for Singapore between April and August, according to an estimate from investment bank Goldman Sachs.
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