S'pore investors rush to China

S'pore investors rush to China

SINGAPORE: Singapore's total investments abroad exceeded S$257
billion (US$147 billion) by the end of 2001, with China taking
the lion's share of direct investments, official figures showed
Friday.

Out of the total, direct investments reached S$131.2 billion,
with S$16.5 billion heading for China, the Department of
Statistics said in a statement.

Financial havens British Virgin Islands and Bermuda came next,
followed by Malaysia, Hong Kong, Indonesia, the United States and
Britain.

In terms of activity, financial services took the biggest
slice of total direct investment at S$74.1 billion, followed by
manufacturing at S$27.2 billion.

In addition to direct investments, the total investment stock
of S$257 billion includes direct equity investments, lending to
subsidiaries and associates, portfolio investments, and other
foreign assets.

In China, more than two-thirds of Singapore investments were
channeled to the manufacturing sector, followed by real estate.
-- AFP