Welcome to the latest edition of top stock market highlights.
Super wealthy Chinese
Singapore has seen a fresh influx of wealth into the city-state since 2021 after it became one of the first Asian cities to significantly relax pandemic restrictions.
In particular, the country has seen wealthy Chinese flow in as they became disillusioned with China’s draconian COVID-19 measures.
The number of family offices sprouting up here has surged to around 700 in 2021 from just 400 previously.
Along with the influx, Singapore’s assets under management (AUM) also grew 16% year on year to S$5.4 trillion in 2021.
This growth looks set to continue as Singapore is also providing support for family offices through targeted tax incentives.
Keppel Corporation Limited (SGX: BN4) and Sembcorp Marine Ltd (SGX: S51)
It has been 10 months since Keppel Corporation and Sembcorp Marine first announced a merger.
Back in October last year, the terms were revised such that Sembcorp Marine will acquire the
...