Property 

Chinese millionaires propel Singapore’s luxury home sales to 11-year high

Sales of Singapore flats worth at least S$10 million (US$7.3 million) have hit an 11-year high, fuelled by increased demand from Chinese millionaires seeking safe-haven assets, property consultants OrangeTee & Tie said.Investors have long viewed Singapore as an island of stability that attracts the super-rich from its less developed Southeast Asian neighbours, as well as multimillionaires from mainland China.In the first eight months of 2019, 68 condominium units in the city state were sold for… Source link

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Singapore 

Razer CEO to set aside $10m for Singapore’s gaming industry, partly to spite an esports nonbeliever, Digital, Singapore News

You just can’t stop the rise of the global competitive gaming industry as it undergoes constant explosive growth, with esports and gaming culture going mainstream, reaching out to new corners of the market. Closer to home, local professional gamers have been creating ripples in Singapore’s esports scene. Soon, they’ll stand a chance to make some waves globally following a major investment by gaming hardware firm Razer. Min-Liang Tan, the company’s affable co-founder and CEO, today pledged to drop $10 million into his country’s gaming industry across the next 12 months. Whoa.  The massive funding extends to supporting and…

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Singapore 

Singapore’s not-so-secret formula to becoming a regional tech hub, Digital, Singapore News

When Darius Cheung co-founded Singaporean mobile security start-up tenCube in 2005, the city state was not yet the start-up hub it is today, flush with venture capital or billion-dollar start-up companies with their eye trained on expansion throughout the Southeast Asia region. But back then the government had already put in place schemes and grants aimed at laying the foundations for Singapore to evolve into the regional innovation and start-up hub it is today, from encouraging private capital inflows to providing the necessary infrastructure for start-ups to flourish. Thanks to…

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Home 

Creating an innovation culture – Singapore’s not-so-secret formula to becoming a regional tech hub

When Darius Cheung co-founded Singaporean mobile security start-up tenCube in 2005, the city state was not yet the start-up hub it is today, flush with venture capital or billion-dollar start-up companies with their eye trained on expansion throughout the Southeast Asia region.But back then the government had already put in place schemes and grants aimed at laying the foundations for Singapore to evolve into the regional innovation and start-up hub it is today, from encouraging private capital… Source link

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Home 

Singapore’s Straits Times Index kicks out Li Ka-shing’s port trust as US-China trade war crimps stock’s value by 84 per cent

Hutchison Port Holdings Trust will be removed from Singapore’s Straits Times Index after a dramatic fall in its market value amid rising global trade tensions, the index provider said in a statement.The move marks the end of an era for the Li Ka-shing backed container port trust in Hong Kong, whose initial public offering in 2011 was among the biggest that year.The market capitalisation has dropped 84 per cent since the IPO to around US$1.4 billion, the lowest among the 30 constituents of the… Source link

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Singapore 

Electoral boundaries committee formed: What does it mean and when will Singapore’s GE be?, Singapore News

SINGAPORE – The countdown to the general election has officially begun, with the setting up of the Electoral Boundaries Review Committee (EBRC). The committee is tasked with drawing up the electoral divisions, and sets the stage for the election. As there is no requirement for the Prime Minister to announce the formation of the committee, MPs – particularly opposition MPs – have taken to filing parliamentary questions about it. The most recent was in July when Workers’ Party chief Pritam Singh asked Prime Minister Lee Hsien Loong if the committee had…

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China 

Singapore’s US-China trade war exposure laid bare in scathing economic review

The trade war between the United States and China will continue to hammer Singapore’s economy this year and severely disrupt it into 2020, according to a new report which laid bare the city state’s exposure to the escalating dispute.As a measure of how the tit-for-tat tariff battle between the world’s two largest economies has sent shock waves through Asia’s exporting economies, this year’s growth forecasts for Singapore have already been downgraded sharply from 2.1 per cent to 0.6 per cent… Source link

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Singapore 

Hotpot billionaire Zhang Yong ousts Far East’s Ng brothers to top Forbes list of Singapore’s richest, Singapore News

SINGAPORE – Consumers’ love for hotpot has propelled Haidilao founder Zhang Yong to the top of the 2019 Forbes Singapore Rich List, with a net worth of US$13.8 billion (S$19.17 billion). Mr Zhang, who made his debut on Singapore’s rich list last year, replaces long-time leaders, property tycoons Robert and Philip Ng of Far East Organization, who are now second with a combined wealth of US$12.1 billion. The Ng brothers had previously occupied the top spot on the list every year this decade, Forbes Asia said in a press statement…

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Home 

China’s hotpot king Zhang Yong shoves aside real estate magnates as Singapore’s richest man as Haidilao’s stock price doubled

Zhang Yong, mainland China’s “hotpot king,” has displaced a couple of property developers as Singapore’s richest man according to Forbes Asia’s latest listing, as a doubling in the stock price of Haidilao International Holdings bolstered his wealth.Zhang, who was on the China rich last year, has since become a naturalised Singaporean citizen. His debut at the top of Singapore’s rich list displaces Philip and Robert Ng, who own property developer Far East Organisation and Hong Kong’s Sino Land,… Source link

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DFS’ departure from liquor, tobacco sales at Singapore’s Changi Airport leaves travellers nostalgic

Hong Kong-based luxury retailer DFS Group on Tuesday announced it would shut down its tobacco and liquor operations at Singapore’s Changi Airport as it was no longer “financially viable” to operate at the world’s third-busiest airport for international travel.The move comes two years after DFS was ousted by a joint venture made up of mainland retailer China Duty Free Group and Lagardere Travel Retail to run liquor and tobacco shops at Hong Kong International Airport.News that DFS – co-owned by… Source link

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