Auto giant DaimlerChrysler AG today denied a Malaysian news report that it is planning to relocate its Southeast Asian regional headquarters from Singapore to Malaysia.

"The news has no substance," regional spokesman Helfried Scharf told AFP after the Malay Mail newspaper published the report.

"Of course we are staying in Singapore. We are long-term committed to Singapore," he added.

On Tuesday, US auto giant General Motors (GM) said it would relocate its Asia Pacific office out of Singapore.

GM's head of communications, Jay Cooney, told AFP the world's largest auto maker had decided to pull out of Singapore because its manufacturing operations were mostly in northeastern Asia.

GM's decision to pull out of Singapore was the second blow to the city state's auto credentials after Germany's BMW relocated its logistics centre across the border to Johor in southern Malaysia last year.

Singapore's auto market is small but it is highly regarded as a location for regional corporate headquarters in Asia due to its efficient services, modern infrastructure and strategic location. - AFP