Hong Kong tycoons moving assets to Singapore as fears rise over proposed extradition law

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Mass protest last Wednesday in Hong Kong has sent a strong signal about consideration of passing the controversial extradition law in the city.

For the longest time, Singapore and Hong Kong has been battling each other to become the leading financial centre in Asia. Singapore has become the natural destination for some of the tycoons to shift their wealth as a safe haven on political as well as sound economy foundation.

Market watcher noted some of the clients has already making the move of their money across the border as they know what what kind of damage on the financial due to this bill.

Under the proposed bill, the loopholes of criminals taking Hong Kong as legal shelter will be closed up. According to the leader Carrie Lam, the courts have to defend human rights.

Following the protest, initial debate of the bill is deferred until further notice and they are not sure how soon would the progress be resumed.

The potential investor looking to safeguard their money would consider the blockbuster launch of this year, Treasure At Tampines due to its low risk and close proximity to a few train stations, also expect to fetch a good rental income when the Tampines condominium is ready for occupation.

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