The focus on Hong Kong people and money moving to Singapore misses the point — there is an outflow of talent and funds from the territory to centers all over the world, said Ho Ching (何晶), head of the Singaporean investment firm Temasek Holdings Pte.
“Being obsessed with the movement of some money and people to Singapore — and ignoring the movement of people and money elsewhere to USA, Canada, Australia, UK, especially for their professional talents — just misses the point,” said Ho, who is married to Singaporean Prime Minister Lee Hsien Loong (李顯龍).
Hong Kong has been wracked by more than four months of social unrest, sparked by a proposed extradition law.
Hong Kong Chief Executive Carrie Lam (林鄭月娥) last month withdrew the bill, but protesters have expanded their demands to include direct elections for the chief executive post.
“Hong Kongers can best serve themselves by looking deep within themselves to decide what role they wish to play in and for China,” Ho said in a post on her Facebook page, with a link to a Bloomberg News report published on the South China Morning Post’s Web site.
“Only when they can play a relevant role in and for China, would Hong Kong also find its role in the world too,” she wrote.
Ho said the example of Singapore — which has municipal elections for people to look after their own districts, followed by self-government in all but defense and foreign affairs — could hold lessons for Hong Kong in terms of political pathways.
Lee on Oct. 16 said that the protesters are making unrealistic demands in an effort to take down the Hong Kong government.
Hong Kong might report negative economic growth for the full year because of the ongoing unrest, Hong Kong Financial Secretary Paul Chan (陳茂波) yesterday said in a blog post.
The protests’ “blow to our economy is comprehensive,” he said, citing falling visitor arrivals, with the decline turning into an “emergency” in August and last month, and dropping hotel occupancy rates.
Taiwan Transport and Storage Corp (TTS, 台灣通運倉儲) yesterday unveiled its first electric tractor unit — manufactured by Volvo Trucks — in a ceremony in Taipei, and said the unit would soon be used to transport cement produced by Taiwan Cement Corp (TCC, 台灣水泥). Both TTS and TCC belong to TCC International Holdings Ltd (台泥國際集團). With the electric tractor unit, the Taipei-based cement firm would become the first in Taiwan to use electric vehicles to transport construction materials. TTS chairman Koo Kung-yi (辜公怡), Volvo Trucks vice president of sales and marketing Johan Selven, TCC president Roman Cheng (程耀輝) and Taikoo Motors Group
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RECORD-BREAKING: TSMC’s net profit last quarter beat market expectations by expanding 8.9% and it was the best first-quarter profit in the chipmaker’s history Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), which counts Nvidia Corp as a key customer, yesterday said that artificial intelligence (AI) server chip revenue is set to more than double this year from last year amid rising demand. The chipmaker expects the growth momentum to continue in the next five years with an annual compound growth rate of 50 percent, TSMC chief executive officer C.C. Wei (魏哲家) told investors yesterday. By 2028, AI chips’ contribution to revenue would climb to about 20 percent from a percentage in the low teens, Wei said. “Almost all the AI innovators are working with TSMC to address the
FUTURE PLANS: Although the electric vehicle market is getting more competitive, Hon Hai would stick to its goal of seizing a 5 percent share globally, Young Liu said Hon Hai Precision Industry Co (鴻海精密), a major iPhone assembler and supplier of artificial intelligence (AI) servers powered by Nvidia Corp’s chips, yesterday said it has introduced a rotating chief executive structure as part of the company’s efforts to cultivate future leaders and to enhance corporate governance. The 50-year-old contract electronics maker reported sizable revenue of NT$6.16 trillion (US$189.67 billion) last year. Hon Hai, also known as Foxconn Technology Group (富士康科技集團), has been under the control of one man almost since its inception. A rotating CEO system is a rarity among Taiwanese businesses. Hon Hai has given leaders of the company’s six