Oil services groups ditch Singapore for Malaysia


Now, will they move back to Singapore once prices recover? Is the rakyat paying for incentives to entice companies with more loyalty to their wallets then long term benefits to the Golden Chersonese?

Dateline 2016-03-27, FT.com:

Multinational oil services companies are pulling staff out of Singapore and relocating to neighbouring Malaysia to cut costs, in a further sign of the damage being inflicted on the city-state by the crude price slump.

Businesses that have relocated to the Malaysian capital of Kuala Lumpur over recent months include McDermott, Technip, and Subsea 7.

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