Chan Chong Beng, head of the Association of Small and Medium Enterprises in Singapore and chairman of Goodrich Global, a carpet and wallcoverings company with a presence in eight countries, said he planned to move his firm's headquarters and operations such as product development to Wujiang, China, near Shanghai.
Sales and marketing will stay in Singapore, he
"Businesses today face a very awkward situation," Chan
Small and mediumsized businesses like Chan's
have been among the hardest hit.