Company moves from Singapore to cheaper, more spacious Malaysia show rising global mobility trend
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- Apparel giant H&M announced in May that it would relocate its Southeast Asian headquarters from Singapore to Kuala Lumpur, affecting 78 positions.
- "These moves are significant and mark a clear acceleration," said Alwyn Lim, associate professor of sociology at Singapore Management University.
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A raft of companies has been shifting operations to Malaysia from Singapore in recent months, illustrating a broader trend of global mobility that has firms seeking jurisdictions with lower costs, tax incentives and access to larger markets.
Apparel giant H&M announced in May that it would relocate its Southeast Asian headquarters from Singapore to Kuala Lumpur, affecting 78 positions. Meanwhile Heineken said in March that it would move large-scale production for its Asia Pacific Breweries Singapore to regional breweries in Malaysia and Vietnam.