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This is how Singapore-Washing Is Screwing SG's Reputation in China and the US.
Link to Written Parliamentary Q/A: https://www.mom.gov.sg/newsroom/par...-pq-on-foreign-founded-start-ups-in-singapore
China is now scrutinising the acquisition of Manus AI by Meta (formerly known as Facebook) both on a specific individual basis pertaining to this transaction, but also as a potential wider spotlighting on "Singapore-Washing" within the global tech industry.
Bloomberg: China Deepens Review of Meta’s Landmark $2 Billion Manus Buyout
"Beijing is deepening an investigation into Meta Platforms Inc.’s $2 billion acquisition of Chinese-founded AI startup Manus, raising the risk that regulators will seek to alter or even unwind the deal if wrongdoing is found.
Chinese officials had begun looking into whether the December takeover of the agentic AI startup violated tech export or national security regulations. The central issue is whether Chinese technology or user data could have been compromised or shared with an American company. Regulators are now also investigating potential violations of rules governing cross-border currency flows, tax accounting and overseas investments, people familiar with the matter said.
China’s review has also cast a spotlight on a practice dubbed “Singapore-washing” by the tech industry, referring to companies of Chinese origin that move their base to the city-state as a launchpad for overseas business. The island has proven popular with companies such as Shein because of the predominance of ethnic Chinese familiar with the language.
Manus began to relocate its staff to Singapore from Beijing and Wuhan in July, parting ways with dozens of employees unwilling to move at the time. That decampment caught the attention of Chinese regulators, which privately raised concerns around cross-border data transfers and taxes, according to a person familiar with the matter, who asked to remain unidentified discussing a sensitive issue."
Sounds familiar? It should, because back in September 2024 I already wrote extensively in two articles for Asia Sentinel about how the Fujian 10 and PRC money laundering in general was being facilitated and happening in Singapore, with similar M.O.s of using existing loopholes in Singapore's cross-border currency flow regulatory system to allow for PRC capital to flow into SG bank accounts, family offices, and property/luxury goods assets.
It's now 2026. And Singapore-Washing is still well and truly alive and well, with the PAP government continuing to hide behind the convenient excuse of business privacy/confidentiality to obfuscate answers in response to accountability questions asked about such issues.
What looked like economic pragmatism on Singapore’s part in accepting Chinese businesses and money seeking safe haven or alternative business conduits to Western markets is shaping up as a headache as the geopolitical waters between China and the West, particularly the US, become increasingly choppy.
