More MNCs moving their ops to Malaysia from Singapore

Singapore closed 1.3 percent lower, battered primarily by financial stocks.

KUALA LUMPUR: More multinational corporations, particularly in the oil and gas (O&G) sector, are moving their operations to Malaysia from Singapore because of lower costs due to the depreciation of the ringgit.

“Over the the past two to three years, we have seen more multinationals with regional or significant operations in Singapore, relocating some of their departments or expatriates to Kuala Lumpur,” said ECA international regional director-Asia, Lee Quane.