Singapore bank sees South-East Asia as ‘haven’

Singapore: United Overseas Bank Ltd is betting South-East Asia will shield it from the escalating trade war between the United States and China, distancing itself from the approach of its two main rivals that have expanded their focus to Hong Kong and the mainland.

“Asean will become a safe haven,” chief executive officer Wee Ee Cheong said in an interview at UOB headquarters in Singapore, referring to the Association of South-East Asian Nations.