Companies are increasingly shifting factories and production operations from Singapore to Malaysia in search of lower costs, while keeping their regional headquarters in Singapore. Firms including H&M, Heineken, Gardenia and Yeo's have announced plans to move manufacturing or back-office functions, citing cheaper labour, lower rents and greater efficiency. Experts say the trend reflects regional diversification rather than an exodus, with high-value functions such as management, finance and research remaining in Singapore. Malaysia's tax incentives and the upcoming Johor-Singapore Special Economic Zone are expected to accelerate the twin-country business model as firms seek resilience and cost savings.



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