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...The government [being] proactive, especially after the money laundering episode and the current global political and economic uncertainty,” one person familiar with the briefings said....
...HongShan, Sequoia’s former China unit, has opened a Singapore office — on Peak XV’s turf — and recently invested in Europe....
...of Singapore....
...A deep market downturn in Hong Kong has made it more difficult for Chinese companies to raise money closer to home....
...He had seen no slowdown in wealthy Chinese, including family offices, looking at Singapore, even after the city-state was rocked by a large money laundering investigation last year....
...“They are following the money. It makes sense to have a presence here [in Singapore],” one of the people said, who added that the plan was still subject to change....
...But the S$1.8bn money-laundering scandal will reinforce some critics’ view that Singapore acts as a bolt-hole for less-than-respectable money or flight capital....
...But the frenzy since the launch of the ChatGPT chatbot a year ago has prompted warnings from experts that most start-ups in the sector are overvalued and will fail to make money....
...A chunk of the money in two of the PAG funds is tied up in the Chinese industrial gases company AirPower Technologies, which PAG originally backed in 2017, the people said....
...The writer is an FT contributing editor Singapore is a poster child for fiscal prudence....
...Last August, Singaporean authorities arrested and charged 10 people — all with links to China — in connection to a $2.2bn money laundering and fraud investigation, the largest in Singapore’s history....
...The other two failed to do so, setting both on a path to dissolution, with the money raised via their IPOs returning to investors....
...Join us in Hong Kong on March 11 for a breakfast event (8.15 — 9.45am) with Miles Johnson, FT’s investigative reporter and host of hit podcast Hot Money: New Narcos, and the FT’s Asia editor Robin Harding...
...In response to questions in parliament on Tuesday about the probe, Singapore’s government said it would examine extending anti-money laundering requirements....
...Malaysia has halved the jail sentence of Najib Razak, the former prime minister convicted of money laundering linked to the 1MDB embezzlement scandal....
...Renfrew notes the acceleration of money flowing into Singapore, including through its thriving biotech and tech sectors....
...Singapore has said its antitrust and money-laundering regulations comply with international standards....
...The money that funds the Tanoto Foundation comes entirely from the family, not the RGE Group, points out Belinda....
...The recent crackdown in Singapore, one of the largest undertaken globally, is testament to our robust anti-money laundering regime....
...In the same year, Wirecard’s purported trustee in Singapore, who was allegedly in charge of the escrow accounts, accidentally disclosed to the auditor that he did not hold any money on the German company...
...(US$1.8bn) money-laundering scandal....
...“I see Hong Kong becoming the Monaco of China where people come to spend money, buy luxury homes and yachts, drink expensive wine, build art collections.”...
...Singapore authorities have requested documents from at least 10 banks as they extend a S$1bn (US$737mn) money laundering investigation....
...The US Federal Reserve has signalled rate cuts in the coming months on lower inflation worries, gradually making money cheaper to borrow....
...Macro hedge funds make money by taking bets on the economy and interest rates though bond, FX, commodities and equities markets....
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