Brexit uncertainty not the only worry for S'pore firms

US-China trade war adds to concerns, but some firms still bullish about UK prospects

MR ALAN CHUA, founder of Concorde Security, a Singapore-based security solutions provider.
MR HO MENG KIT, chief executive of the Singapore Business Federation.
New: Gift this subscriber-only story to your friends and family

Uncertainty over how and when Brexit - the United Kingdom's formal exit from the European Union - will happen prompted Mr Alan Chua, founder of Singapore-based security solutions provider Concorde Security, to transfer his UK operations to a British partner last year.

"When we expanded into the UK two years ago, we didn't expect the uncertainty over Brexit to drag on for so long. Then around October, we saw a way out by getting into a licensee relationship with our UK partner, which will resell our security solutions. By doing so, we won't have to deal with high labour costs and difficulties hiring foreign workers in the UK when Brexit happens," Mr Chua said.

Already a subscriber? 

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

Unlock these benefits

  • All subscriber-only content on ST app and

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you

Join ST's Telegram channel and get the latest breaking news delivered to you.

A version of this article appeared in the print edition of The Straits Times on February 01, 2020, with the headline Brexit uncertainty not the only worry for S'pore firms. Subscribe