COMPANIES WITH REGIONAL HEADQUARTERS IN SINGAPORE

Mr Tay Beng Chuan asked the Minister for Trade and Industry whether his Ministry will provide statistics regarding (i) the number of companies which have established Regional Headquarters (RHQ) in Singapore from 1990 till July 1998; (ii) the breakdown of RHQ in Singapore from 1990 till July 1998, based on country of origin as well as type of industry; (iii) the number of companies which have relocated their RHQ out of Singapore to other destinations after the onset of the regional currency crisis; and (iv) the number of companies which have relocated their RHQ to Singapore after the onset of the regional currency crisis.

Mr Lee Yock Suan: Between 1990 and July 1998, more than 100 companies were awarded the Regional Headquarters (RHQ) incentive. American and European companies account for the bulk of the RHQs awarded. They are from a diverse range of industries including Electronics, Engineering, Chemicals, Life Sciences and Automobiles.

None of these RHQs have left Singapore for other destinations after the onset of the regional economic crisis.