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NEWS UPDATES Asean Affairs   11 September 2013  

50 people join the 'super rich' club in Singapore this year

The number of ultra wealthy people in Singapore grew slightly last year, as did the amount of wealth they collectively owned, thanks mainly to rising real estate prices.

The latest Wealth-X and UBS World Ultra Wealth Report, released on Tuesday, said the ranks of the super rich in Singapore grew to 1,355 by July this year, up 3.8 per cent from 1,305 in July last year.

These ultra high net worth individuals, as defined by Wealth-X, are people who have assets of at least US$30 million each. This includes the house that they live in, their savings as well as the value of any businesses they might own.

This group had a combined wealth of $160 billion in July this year, up 3.2 per cent from $155 billion a year ago.

Their increase in wealth came primarily from rising real estate values, said Wealth-X chief executive officer Mykolas Rambus.

Over half of the ultra wealthy in Singapore - 746 individuals - have assets of between $30 million and $49 million, while 27 of them are billionaires with a combined wealth of $64 billion.

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This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






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