'We've seen increased flows into Singapore from a variety of destinations, of sources and that includes Hong Kong. But the amounts are not large,' said Ravi Menon, managing director of the Monetary Authority of Singapore.
There has not been "significant" flows of money and business activity from Hong Kong into Singapore, said Ravi Menon, managing director of the Monetary Authority of Singapore.
Hong Kong has over the past year been hit by developments that could threaten its position as a financial and business hub in Asia, and multiple media reports have highlighted anecdotes of wealthy individuals moving their money from Hong Kong to Singapore. "As we've said before, we've seen increased flows into Singapore from a variety of destinations, of sources, and that includes Hong Kong. But the amounts are not large," Ravi Menon, managing director of MAS, said on Thursday.
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