Hutchison Whampoa Ltd.'s selling of Chinese port assets may collect more than Singapore's combined thirty one initial public offerings last year, impacting the city's efforts to compete as a financial center.

Hutchison is controlled by Hong Kong billionaire Li Ka-shing, and the firm stated yesterday that it will sell a stake in a trust holding container ports in Macau ,Hong Kong and Guangdong province, and some other associated businesses and some Chinese river ports. The sale may see as much as six billion dollars as reported by the IFR news service, yesterday.

An offering that big will be a record for the city- state, overshadowing the four billion dollar raised by Singapore Telecommunications Ltd. in the year of 1993. IPO proceeds in Singapore totaled $5.7 billion in the last year, trailing the forty nine and a half billion dollars rose in Hong Kong, as per data compiled by Bloomberg that exclude over allotment shares.

In a scenario where so many companies are listed in Hong Kong, one can say that the Singapore Exchange won this time, as said by Nicholas Yeo, who helps monitor Chinese equities at Aberdeen Asset Management, which manages in the tune of two hundred and sixty one billion dollars worldwide. He further stated that the market of Singapore will definitely get boosted by this.

Singapore's Straits Times Index profited ten percent in the last year and sixty four percent in 2009, overshadowing Hong Kong's Hang Seng Index, which went up by 5.3 percent in 2010 and fifty two percent the previous year, shown by data which got compiled by Bloomberg.