rich

Retail Asia08/09/2023

If anyone thought that Credit Suisse’s collapse would prove fatal to the Swiss finance hub should take a look at what is going on in the city-state right now. Singapore and its financial hub have been in the throngs of an unbelievably large money laundering scandal since the middle of August. It relates to billions […]

Retail Asia04/12/2019

The bank said that globally, Singapore has among the highest share of millionaires whose main source of income is their salary, and they prioritize self-enrichment over wealth accumulation. Based on its research that Singapore’s rich are not just focused on becoming wealthier but experiencing life, HSBC Singapore is launching new banking and lifestyle features to […]

Retail Asia07/10/2019

While Singapore’s net financial assets per capital grew 4.4 percent year-on-year, global economic instability and trade wars are weighing heavily on the global middle class, according to Allianz’s new Global Wealth Report. With net financial assets per capita of €100,370 ($110,201), Singapore has taken the crown from Japan as the richest country/region in Asia, ranking […]

Retail Asia12/09/2019

Hotpot-restaurant tycoon Zhang Yong has topped the latest Forbes Singapore Rich List. Zhang, the founder of the Haidilao restaurant business, has an estimated net worth of US$13.8 billion (US$19.2 billion) – enough to push last year’s richest Singaporeans, property magnates Robert and Philip Ng into the second spot with their combined wealth of US$12.1 billion. […]

Retail Asia31/05/2019

Global billionaire wealth and its population have fallen for only the second time since the global financial crisis in 2008, with those in APAC suffering the most. After reaching record levels the previous year, global billionaire wealth in 2018 declined by 7 percent to $8.6 trillion, while the billionaire population fell by 5.4 percent to 2,604, […]

Retail Asia19/02/2019

The definition of luxury is evolving, and the change applies to not only what people are spending money on, but how they’re doing it. “In the last few years, we have seen the crystallization of two luxury worlds: one which focuses on an encyclopedic choice of luxury products available at a click; another which is […]

Retail Asia18/02/2019

Pham Nhat Vuong is the first Vietnamese to enter the list of the world’s 200 wealthiest people. He has an estimated worth of $7.5 billion. Vuong, who heads the Vingroup conglomerate, is 198th on the real time billionaires ranking updated by Forbes magazine on Saturday. His net worth has increased by $3.2 billion over last year when […]

Retail Asia14/11/2018

Maybank Asset Management Group (MAMG) expects its assets under management (AUM) to increase between US$30 million (RM126 million) to US$50 million (RM209 million) in the next two years, following its collaboration with Schroder Investment Management (Singapore) Ltd to co-develop investment solutions for sophisticated investors. As of end September 2018, MAMG’s AUM stood at RM33.7 billion. […]

Retail Asia22/12/2016

Larvotto-Hong-Kong-courtesy-of-Sun-Hung-Kai-Properties-1024x724.jpg

People visit a viewing deck overlooking Victoria Harbour in Hong Kong. The city’s property prices have continued to climb because of the influx of mainland Chinese developers. Hong Kong: Here’s how billionaire Edwin Leong, one of Hong Kong’s largest retail landlords got around Hong Kong’s new property curbs and saved almost $17 million (Dh62.43 million) […]

Retail Asia13/09/2016

Never mind that Singapore is experiencing one of the worst property slumps in its history, demand for luxury housing is suddenly coming from an unexpected group: wealthy Indonesians. This year’s purchases by Indonesian nationals of homes valued at S$5 million or more have already nearly quadrupled from last year’s total. The stepped-up buying coincides with […]

Retail Asia20/12/2015

Cash registers in Hong Kong won’t be ringing merrily next year after the US rate hike, with locals likely to scratch their travel itch with the appreciating Hong Kong dollar. The greenback reached a two-week high against a basket of major rivals yesterday after the US Federal Reserve raised interest rates for the first time […]

Tag: rich

Singapore’s Crazy Rich Money Launderers

HSBC Targets Singapore’s Salaried Millionaires

Singapore Overtakes Japan as Asia’s Richest Market

Zhang Yong Tops the latest Forbes Singapore Rich List

APAC Billionaires Hit the Hardest in 2018

Millionaires are showing off their money in a new way

First Vietnamese to enter 200 richest people in the world list

Maybank Asset Management sees AUM expanding US$50m in next 2 years

Hong Kong’s rich have ways to get around property tax

Rich Indonesians snapping up Singapore luxury homes as taxman calls

Rising HK dollar expected to give locals the travel itch