SINGAPORE OFFERS CREDIBILITY, EFFICIENCY
Ms Teo said the pattern of moving some functions out of Singapore has already been taking shape for years – particularly in banking and financial services, where shared service centres in Malaysia now handle many support functions.
“Offshoring is not today’s business. It has been there for a decade,” she noted.
“The support functions, the know-your-client roles, customer care roles, HR operations, finance operations, marketing operations roles, typically will be moved to Malaysia. But we do see a trend that the higher value jobs (will) still (be retained) in Singapore.”
These include leadership roles, project management positions and specialist jobs, Ms Teo said.
