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Sales of luxury cars, properties and golf memberships are falling in the wake of a $3.4 billion money laundering probe.

Sales of luxury cars, properties and golf memberships are falling in the wake of a $3.4 billion money laundering probe.

When ultra-wealthy Chinese entrepreneurs started moving to Singapore en masse in 2019, investment firms were salivating at the chance to manage billions in new money. So far, it hasn’t quite happened.

Hedge funds, banks and private equity firms say there has been a relative pittance of new business from ultra-rich Chinese arrivals. Read more at straitstimes.com.

When ultra-wealthy Chinese entrepreneurs started moving to Singapore en masse in 2019, investment firms were salivating at the chance to manage billions in new money. So far, it hasn’t quite happened.

Singapore has seen tremendous growth as a wealth management centre in recent years. After the country eased COVID restrictions, it has become a leading Asian co

Get latest articles and stories on World at LatestLY. Singapore has seen tremendous growth as a wealth management centre in recent years. World News | Indian Wealth Still Being Parked in Singapore.

SINGAPORE, Feb 6: Singapore has seen tremendous growth as a wealth management centre in recent years. After the country eased COVID restrictions, it has become a leading Asian country to see a fresh wave of affluent foreigners looking to park their wealth here due to the tax-friendly regime and comparatively safe and secure environment. In the ten years from 2012 to 2021, assets under management have increased more than three-fold from SGD1.6 trillion (USD1.2 trillion) to SGD 5.4 trillion, accor...

Singapore has seen tremendous growth as a wealth management centre in recent years.

Like many rich Chinese, graduate student Zayn Zhang thinks Singapore could be ideal to park his familys wealth.