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Thread: 66660 millionaires in singapore!!!

  1. #1
    Senior Member melvin's Avatar
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    Exclamation 66660 millionaires in singapore!!!

    S'pore home to world's fastest-growing population of millionaires
    By Tung Shing Yi, Channel NewsAsia | Posted: 28 June 2007 1949 hrs

    SINGAPORE : Singapore is home to the world's fastest-growing population of millionaires, according to the annual world wealth report compiled by Merrill Lynch and the Capgemini Group.

    The number of high net worth individuals in Singapore grew by 21.2% last year to reach almost 67,000 millionaires.

    Singapore's millionaire boom is part of a global trend that saw the number of high net worth individuals rise 8.3% to reach 9.5 million last year.

    Among the super-rich are a group called the ultra-rich, with assets over US$30 million.

    The growth of these ultra high net worth individuals grew 11.3%, outpacing that of high net worth individuals and suggesting a growing concentration of wealth.

    "The main reasons for the growth in the number of high net worth individuals was GDP growth, which was about 8.2% in Singapore last year, and the strong market capitalisation growth reflected in the stock market. Also, Singapore's strong savings rate has helped in the creation of wealth," said Kong Eng Huat, MD of Merrill Lynch, International Bank.

    India and Indonesia follow closely behind Singapore in the list of countries with the fastest-growing number of millionaires.

    The survey also pointed out a growing preference among wealthy investors to put money into the real estate market.

    While the high-end luxury sector in Singapore has been seeing strong demand, Merrill Lynch sees the bull run spilling over to the mass market segment over the next three years.

    Mark Matthews, senior director and chief Asia Strategist at Merrill Lynch said: "More and more people are coming to work in Singapore, and as a result of that, people will move out of Districts, 9, 10, 11, into areas like Bukit Timah or East Coast, and prices are increasing in these neighbourhoods as well.

    "There's not enough in the private residential sector to meet demand. I believe there are only less than 40,000 vacant condominiums left in Singapore now, and we're expecting over 100,000 people to move here this year."

    Global assets held by wealthy investors rose 11.4 percent to $37.2 trillion in 2006, but the growth rate is forecast to slow to 6.8% annually over the next four years.

    Going forward, Merrill Lynch expects more central banks to tighten monetary policy, bringing a possible end to the period of high liquidity that has stimulated recent growth.

    Growth rates in Asia are expected to ease back as global demand slows. - CNA /ls

    Singaporeans are getting richer!

  2. #2
    Member/Tangshooter Redsun's Avatar
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    Default Re: 66660 millionaires in singapore!!!

    Do we have any millionaires here?

  3. #3

    Default Re: 66660 millionaires in singapore!!!

    in rupiah or sing dollars?

    also i am sure you can see a huge disparity between haves and have nots.....look at those poor old people...only like $350 dollars per month stipend. most go into rent...the rest goes into food...how will they fend when they get sick?? >_<
    Last edited by blowblue; 29th June 2007 at 01:29 PM.

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    Default Re: 66660 millionaires in singapore!!!

    Sigh.....the rich will become richer while the rest will remain stuck
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    Senior Member Sion's Avatar
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    Default Re: 66660 millionaires in singapore!!!

    Quote Originally Posted by Redsun View Post
    Do we have any millionaires here?
    Clang.

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    Default Re: 66660 millionaires in singapore!!!

    Finally, the P@P gahment has lived up to its promise of "more good years for its people"....$ingaporeans are now richer. Vote for the p@ppy gahment

    Quote Originally Posted by melvin View Post
    Singaporeans are getting richer!

  7. #7
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    Default Re: 66660 millionaires in singapore!!!

    does tis got to do wif the 66.6%?
    Don't cry because its over,:)Smile because it happened.
    items for sale

  8. #8

    Default Re: 66660 millionaires in singapore!!!

    hm... it says "The number of high net worth individuals in Singapore", this doesn't really refers to Singaporean. I know a couple of Chinese and Indonesian millionaires who resides in Singapore.

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    Default Re: 66660 millionaires in singapore!!!

    really Sin City... everything also 666...
    Logging Off. "You have 2,631 messages stored, of a total 400 allowed." don't PM me.

  10. #10

    Default Re: 66660 millionaires in singapore!!!

    Quote Originally Posted by kiwitan View Post
    Finally, the P@P gahment has lived up to its promise of "more good years for its people"....$ingaporeans are now richer. Vote for the p@ppy gahment
    no politics! big brother will close this thread!

  11. #11
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    Default Re: 66660 millionaires in singapore!!!

    After Wed draw come out 6904 top 2 prizes, I think more than 66660 liao

  12. #12

    Default Re: 66660 millionaires in singapore!!!

    Quote Originally Posted by melvin View Post
    Singaporeans are getting richer!
    You mean, SOME Singaporeans are getting richer.

  13. #13

    Default Re: 66660 millionaires in singapore!!!

    If they define being a millionaire as having more than 1 mil SGD in owned assets....I suppose there are that many folks here.

  14. #14
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    Default Re: 66660 millionaires in singapore!!!

    got.. change into rupiah.. instant millionaire
    “How fortunate for leaders that men do not think.” - Adolf Hitler

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    Senior Member Sion's Avatar
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    Default Re: 66660 millionaires in singapore!!!

    Quote Originally Posted by yanyewkay View Post
    got.. change into rupiah.. instant millionaire
    So yanyewkay becomes Taokay liao?

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    Senior Member Sion's Avatar
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    Default Re: 66660 millionaires in singapore!!!

    Quote Originally Posted by snowspeeder View Post
    If they define being a millionaire as having more than 1 mil SGD in owned assets....I suppose there are that many folks here.
    So ClubSnap is in fact a Club Millionaires?

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    Default Re: 66660 millionaires in singapore!!!

    Quote Originally Posted by Sion View Post
    So yanyewkay becomes Taokay liao?
    tats a downgrade man...
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  18. #18
    Senior Member melvin's Avatar
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    Default Re: 66660 millionaires in singapore!!!

    Quote Originally Posted by swampthing View Post
    You mean, SOME Singaporeans are getting richer.
    How about More singaporean are getting richer!

  19. #19
    Senior Member melvin's Avatar
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    Default Re: 66660 millionaires in singapore!!!

    Quote Originally Posted by Sion View Post
    So ClubSnap is in fact a Club Millionaires?
    I suppose so if not hard to kena BBB virus

  20. #20
    Senior Member melvin's Avatar
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    Default Re: 66660 millionaires in singapore!!!

    Quote Originally Posted by arpinkor View Post
    After Wed draw come out 6904 top 2 prizes, I think more than 66660 liao
    Top 2 prizes like dat oso can If private sure no counted

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