2012
2012 NEWS
S'PORE TOP SPOT IN ASIA-PACIFIC FOR MOBILE MILLIONAIRES: SURVEY
Singapore topped Hong Kong as the most desired place in the Asia-Pacific for so-called mobile millionaires to reside, with quality of life the main attraction, according to an RBC Wealth Management survey. RBC and The Economist Intelligence Unit said in a joint research report released yesterday that almost a third of the millionaires in Asia who live, work or spend more than half their time outside their countries of origin prefer Singapore. This was higher than the 24 per cent who chose Hong Kong, the second most popular in the region.
APPLICATION FOR 2013 LEE KUAN YEW SCHOLARSHIP
The Public Service Commission Secretariat has announced that application for the 2013 Lee Kuan Yew Scholarship is open from 30 November to 30 December. Applicants, who must be Singaporeans, will be assessed on whole-person qualities, including academic achievements and track record of leadership and service within or beyond their profession. Scholarship holders can pursue postgraduate studies overseas or locally to develop their potential as leaders.
S'PORE'S WEALTHY AMONG MOST OPTIMISTIC IN THE WORLD: POLL
A global survey by Barclays Wealth Insights of more than 2,000 high-net-worth individuals in the first six months of the year found that 74% of Singapore's wealthy are optimistic in sensing opportunities despite a slowing global economy. This ranks them the 2 nd most optimistic in the world, with India top with 81% having an optimistic view. Less than 50% of respondents in Europe and the US were positive. Saudi Arabia was last with 21%.
FINANCIAL LEADERS 'PLAN TO ADD STAFF DESPITE ECONOMIC UNCERTAINTY
Despite the uncertainties in the global economy, some financial leaders in Singapore still plan to add finance, accounting and banking staff in the first half of the year. A survey of 300 finance chief financial officers (CFOs) and finance directors found that one-third of the respondents plan to increase headcount, while 3 per cent said they would decrease headcount. The survey was conducted by finance and accounting recruitment firm Robert Half from Dec 10 last year to Jan 23.
ASIAN BOOM IN FAMILY OFFICES TO MANAGE WEALTH
SMU Associate Professor Annie Koh, Dean of Executive and Professional Education and the Financial Training Institute at SMU commented on the growing number of special entities set up to manage family wealth as more people consider ways to pass on their wealth to the next generations. Prof Koh said we are in a stage of transition and so many Asian families are not consciously prepared for succession, whether in the context of their business or the context of wealth transfer. Prof Koh was a panelist at a forum at the UBS Business University Asia campus, where the survey results were shared yesterday.
SINGAPORE 'MAY BECOME LARGEST OFFSHORE FINANCIAL CENTRE BY 2015'
Singapore, which has the world's highest density of wealthy people, may overtake Switzerland as the world's largest offshore financial centre as early as 2015, according to a forecast by United Kingdom financial consultant Wealth Insight. It targets those with investable assets of $100,000 - $350,000.
