Page 7 - Building a Treasury Centre for Sustainable Growth
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KEY CONSIDERATIONS















                              SINGAPORE                                HONG KONG SAR

                     1.  Ageing population                       1.  Geopolitical environment
                     2.  High labour and infrastructure costs    2.  Limited DTA networks, but growing

                     3.  High cost of living                     3.  High cost of living














                               MALAYSIA                                    THAILAND

                     1.  Geopolitical environment                1.  Geopolitical environment

                     2.  Less developed financial markets        2.  Cumbersome  application
                                                                    procedures
                     3.  Slower adoption of technology
                                                                 3.  Restrictions to get loans by
                     4.  More restrictions on qualifying
                        conditions and currency                     issuing bonds































                                                                   Building a Treasury Centre for Sustainable Growth  5
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