Categories: Economy

Singapore’s single household workplaces climbed to 2,000 final yr, minister says


SINGAPORE (Reuters) – The variety of single household workplaces in Singapore grew to 2,000 in 2024, the deputy chairman of the town state’s central financial institution, Chee Hong Tat, mentioned on Tuesday.

That is up from a determine of 1,650 Chee shared in September final yr.

Singapore has benefited from robust inflows of wealth into Asia because of insurance policies beneficial for establishing household workplaces and trusts, low taxes and its location as a gateway to the rising Southeast Asian markets.

Single household workplaces are one-stop corporations that handle the funds of the very rich.

“There will probably be, I feel, extra curiosity from traders to have a look at Singapore as a key node and hub in Asia,” Chee mentioned in a session on the UBS Asia Wealth Discussion board convention in Singapore.

“We need to see how we are able to provide larger number of funding choices, together with for individuals who need to put their wealth right here additionally to develop their wealth,” he added.

admin

Recent Posts

JPMorgan turns into the primary Wall Avenue financial institution to forecast a US recession following Trump’s tariffs

JPMorgan believes the US financial system will enter a recession within the again half of…

57 seconds ago

US Treasuries Acquire as Commerce Struggle Spurs Inflation and Development Angst

(Bloomberg) -- Treasuries climbed because the fallout from President Donald Trump’s tariffs convulsed markets for…

1 hour ago

Wall Avenue fears Trump’s tariffs will wipe out 2024’s inventory market good points

Shares sank on Friday as the fact of an all-out commerce warfare following President Trump's…

2 hours ago

The White Home cited these economists to justify its tariffs. They are not thrilled.

The emails began hitting Anson Soderbery’s inbox at about 10:30 p.m. on Wednesday evening. An…

2 hours ago

This week in Trumponomics: Financial malpractice

If a surgeon operates needlessly on a affected person, it’s medical malpractice. If a policymaker,…

3 hours ago

US oil service companies set for hit from Trump tariffs, tumbling oil costs

By Georgina McCartney HOUSTON (Reuters) - U.S. oilfield service companies are bracing for successful as…

4 hours ago