Hong Kong protests: Some Singapore firms shelving plans, looking to downsize operations

But many Singapore businesses and citizens living there say they are not abandoning city yet

The Festival Walk shopping mall (left) was among businesses vandalised during protests in Kowloon Tong, Hong Kong, last Wednesday. On Tuesday, some stores in the city, such as this (centre), were set on fire. Others, like Starbucks, were hit after a
The Festival Walk shopping mall was among businesses vandalised during protests in Kowloon Tong, Hong Kong, last Wednesday. PHOTOS: EPA-EFE, AGENCE FRANCE-PRESSE
The Festival Walk shopping mall (left) was among businesses vandalised during protests in Kowloon Tong, Hong Kong, last Wednesday. On Tuesday, some stores in the city, such as this (centre), were set on fire. Others, like Starbucks, were hit after a
On Tuesday, some stores in the city, such as this, were set on fire. PHOTOS: EPA-EFE, AGENCE FRANCE-PRESSE
The Festival Walk shopping mall (left) was among businesses vandalised during protests in Kowloon Tong, Hong Kong, last Wednesday. On Tuesday, some stores in the city, such as this (centre), were set on fire. Others, like Starbucks, were hit after a
Others, like Starbucks, were hit after a rampage in the Sheung Wan area.PHOTOS: EPA-EFE, AGENCE FRANCE-PRESSE

When Acquired Time's co-founder Roy Tong was looking at markets to grow his year-old luxury watch subscription business, Hong Kong came to mind first.

"It's high density with a lot of expats, which make up about 40 per cent of our clientele. We also saw it as a potential gateway into mainland China in future," Mr Tong told The Sunday Times.

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A version of this article appeared in the print edition of The Sunday Times on November 17, 2019, with the headline 'Some S'pore firms shelving HK plans'. Print Edition | Subscribe