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Top Stock Market Highlights of the Week: Super-Rich Chinese, Keppel O&M-Sembcorp Marine Merger, US Federal Reserve and Boustead Industrial Fund
By The Smart Investor  •  February 4, 2023
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  ...
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By The Smart Investor
The Smart Investor is co-founded by David Kuo, Joanna Sng, and Chin Hui Leong. The company was formed in late 2019 from the ashes of the Motley Fool Singapore. The Smart Investor believes that everybody can learn how to invest, smartly. We aim to educate people on how to invest smartly by providing investing education, stock commentary and market coverage for Singapore and around the world.
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