24 Jan '11, 11pm

$12b to $14b in fixed asset investment this year: EDB - TODAYonline

SINGAPORE - The Republic garnered record investment commitments last year and the momentum is expected to continue into this year. The Economic Development Board (EDB) said yesterday international firms invested $12.9 billion in fixed assets such as facilities and equipment last year. The figure surpassed EDB's forecast of between $10 billion and $12 billion. With positive sentiment over Asia's growth this year, the EDB has upped its estimates, forecasting that companies will spend between $12 billion and $14 billion to enhance their fixed assets this year. The investments committed last year are also expected to contribute $14.4 billion in value-added per year to the country's economic growth. This is the second-highest value-added achieved, after $14.7 billion in 2008. Last year, business spending also rose, totalling some $8.6 billion. For 2011, the EDB is expecting bus...

Full article: http://www.todayonline.com/Business/EDC110125-0000186/$12...

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