S'pore a top choice for setting up treasury centres in Asia: DBS

This is due to its status as premier forex hub, strategic site as East-West gateway

- Timothy Goh

Singapore has emerged as a top choice for multinational companies seeking to relocate their treasury centres, noted a new survey.

The country’s appeal is due to its status as a premier foreign exchange trading hub and its strategic location as a gateway between East and West, said DBS Bank, which polled 570 senior executives from companies in 15 markets across the Asia-Pacific, Europe and North America.

It found that around 40 per cent of those surveyed are considering relocating their regional treasury centres to or within Asia, with Singapore, Shanghai and Hong Kong being the top choices.

Their key considerations for selecting a location included access to global markets, a stable political environment and a conducive business environment. Another vital factor is working with a financial services partner with deep sector knowledge, a strong market presence and technology capabilities.