<div class=newsTextDataWrapInner>SINGAPORE (July 10): The number of US dollar millionaires in Singapore is expected to grow by slightly over 10% in the next five years — equivalent to an increase of about 42,000 people, according to the findings of the UBS Global Wealth Report 2024.&nbsp;</div>

<div class=newsTextDataWrapInner>In 2023, the number of US dollar millionaires in Singapore stood at 333,204. In 2028, this figure is expected to expand to 375,725.</div>

<div class=newsTextDataWrapInner>Globally, Taiwan is set to have the highest expected growth rate in US dollar millionaires, growing by almost half (47%) to 788,799 individuals in 2028. Paul Donovan, chief economist at UBS Global Wealth, attributes this to<a href="https://www.theedgesingapore.com/news/wealth/singapores-usd-millionaires-grow-over-10-next-five-years-ubs" target="_blank">...(click on link for full story on theedgesingapore.com)</a></div><div class=inPageAd id=div-gpt-ad-inpage></div>

SINGAPORE (July 10): The number of US dollar millionaires in Singapore is expected to grow by slightly over 10% in the next five years — equivalent to an increase of about 42,000 people, according to the findings of the UBS Global Wealth Report 2024.

Singapore’s US dollar millionaires to grow by over 10% in next five years — UBS report

(Dec 16): Chinese President Xi Jinping dismissed internal divisions within the ruling Communist Party as unavoidable, while calling for greater efforts to instil discipline, according to newly disclosed remarks he made at an anti-graft meeting in January.

Xi says ‘inevitable’ for ruling party to have internal conflicts

Offshore marine service provider Perdana Petroleum Bhd (KL:PERDANA) has secured a charter contract for an anchor handling tug and supply (AHTS) vessel from IPC Malaysia BV.

Perdana Petroleum secures anchor handling tug and supply vessel charter contract

The Malaysian Iron and Steel Industry Federation (Misif) has called for the Independent Steel Committee (ISC) to release the findings of its study conducted, including recommendations and proposals, to the public.

Misif urges the release of Independent Steel Committee’s study  

KUALA LUMPUR (Dec 16): The High Court here has ordered former prime minister Tan Sri Muhyiddin Yassin to pay RM400,000 to DAP chairman Lim Guan Eng by year’s end, and the remaining RM1 million by Jan 27 next year.

High Court orders Muhyiddin to pay RM400k to Guan Eng by year’s end, and balance RM1m by Jan 27

The UK and Malaysia now have a free trade agreement for the first time. On Dec 15, the UK joined Malaysia and 10 other countries to become the newest member of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

The UK has always been a proponent of free t...

My Say: Embracing free trade to promote growth and shared interests

Advancecon Holdings Bhd (KL:ADVCON) has bagged a main infrastructure work contract worth RM44.6 million by Sime Darby Property Bhd (KL:SIMEPROP) for the development at Elmina West.

Advancecon clinches RM45 mil infra works job from Sime Darby Property 

Gamuda Bhd's (KL:Gamuda) Australian subsidiary DT Infrastructure Pty Ltd has secured a A$625 million (RM1.8 billion) engineering, procurement and construction (EPC) job for the Goulburn River Solar Farm project.

Gamuda's Australian unit bags RM1.8 bil EPC job for Goulburn River Solar Farm

At least one in four firms in Indonesia evaded tax, which is more prevalent among exporters, according to a World Bank survey.

One in four Indonesia firms involved in tax evasion, says World Bank 

KUALA LUMPUR (Dec 16): Yinson Holdings Bhd (KL:YINSON), whose share price dropped nine sen in the morning session on Monday, is expected to see strong earnings ahead, as it gears up to deliver multiple major floating production storage and offloading (FPSO) units, with new opportunities on the horizon, said analysts.

Yinson poised for strong earnings growth amid major FPSO deliveries, say analysts

International Finance Corp (IFC) sees this year’s annual funding commitments to Singapore remaining near a record level, according to a regional executive.

International Finance Corp sees Singapore commitments remaining near record US$2 bil

YTL Power International Bhd's (KL:YTLPOWR) data centres are well on track, with the second phase of 8MW under Johor Data Centre 1 (JDC1) expected to come online by end-2024, according to MIDF Research.

MIDF Research: YTL Power on track to deliver data centres, with second 8MW under Johor Data Centre 1 to come online by year end

TopVision Eye Specialist Bhd (KL:TOPVISN) shares staged a strong debut on the ACE Market on Monday, as it looked to raise close to RM18 million from its initial public offering (IPO).

TopVision shares stage strong debut on ACE Market

(Dec&nbsp;16) :&nbsp;Australia’s markets watchdog sued HSBC Bank of Australia Ltd&nbsp;for failing to protect customers who lost millions of dollars in scams.&nbsp;

HSBC sued by Australian regulator for scam loss failures

KUALA LUMPUR (Dec 15): The International Monetary Fund (IMF) has commended Malaysia’s economic reforms, notably the introduction of the Public Finance and Fiscal Responsibility Act (FRA) 2023, and the successful implementation of electricity and diesel subsidy reforms.&nbsp;

IMF credits Malaysia’s economic reforms, calls for further action to strengthen resilience

(Dec&nbsp;16):&nbsp;Asian stocks are set to fall on Monday, ahead of a swath of Chinese data and a vow from the nation’s regulators to stabilise markets. South Korean assets will be closely watched after President Yoon Suk Yeol was&nbsp;impeached.&nbsp;

Asia wary of Fed rate future, China data disappoints

(Dec&nbsp;16) :&nbsp;Wall Street is starting to sour on the dollar as President-elect Donald Trump’s policies and the Federal Reserve’s interest-rate cuts will likely put pressure on the greenback in the latter portion of 2025.

Dollar’s trump-fuelled gains face a reality check late next year

The International Monetary Fund (IMF) has assessed Malaysia's current monetary policy stance as appropriate but emphasised that Bank Negara Malaysia has to be ready to tighten policy in 2025 amid inflation risks.

IMF: Malaysia's neutral monetary policy 'appropriate' but brace for inflation risks in 2025

KUALA LUMPUR (Dec 16): TNG Digital Sdn Bhd urges users to verify their TNG eWallet accounts for better security, according to its statement on Monday.

TNG Digital urges users to complete acct verification via eKYC tech from Dec 20

China's industrial output growth quickened slightly in November, while retail sales disappointed, keeping pressure on Beijing to ramp up stimulus for a fragile economy as it braces for more US trade tariffs under a second Trump administration.

China's weak consumption drags on economy as Trump tariff threat looms

Grab Holdings Ltd’s ability to cut costs and edge out rivals in Southeast Asia’s ride-hailing arena helped push its share performance above global peers this quarter, with some analysts citing further gains ahead.

Grab stock’s big quarter has some analysts seeing further gains

Gamuda Bhd's (KL:Gamuda) Australian subsidiary DT Infrastructure Pty Ltd has secured a A$625 million (RM1.8 billion) engineering, procurement and construction (EPC) job for the Goulburn River Solar Farm project.

TOKYO/SINGAPORE (Dec 16): Bitcoin&nbsp;surged to a record high above US$106,000 (RM471,944) in early Asian trade on Monday, boosted by comments from President-elect Donald Trump that suggested he plans to create a US&nbsp;bitcoin&nbsp;strategic reserve similar to its strategic oil reserve.

Bitcoin surges above US$106,000 on strategic reserve hopes

(Dec&nbsp;16) :&nbsp;What was supposed to be a comeback year for Boeing Co. has turned into its worst stock-market plunge since 2008, and if Wall Street is right, the plane-maker’s shares may have only a modest recovery in store in 2025.&nbsp;

Boeing’s year of crisis leaves investors wary of beaten-up stock

(Dec&nbsp;16) : South Korea’s currency and its stock market will take centre stage on Monday, as investors respond to a weekend vote to impeach President Yoon Suk Yeol following his attempt to impose martial law.

Korean won, stocks take spotlight after impeachment vote

SEOUL (Dec 16):&nbsp;South&nbsp;Korean shares climbed on Monday to their highest level in more than two weeks, after parliament impeached President Yoon Suk Yeol over the short-lived martial law.

South Korean shares at more than two-week high after president impeached

PUTRAJAYA (Dec 16): Thailand’s Prime Minister Paetongtarn Shinawatra, who is on a two-day official visit to Malaysia, attended&nbsp;an official welcoming ceremony at Perdana Putra Complex&nbsp;here on Monday.

Thai PM Paetongtarn Shinawatra accorded official welcome at Perdana Putra

SEOUL (Dec 16): South Korea’s Constitutional Court will begin on Monday reviewing the impeachment of President&nbsp;Yoon&nbsp;Suk Yeol over his Dec&nbsp;3&nbsp;martial law&nbsp;attempt, while investigators said they plan to question him this week.

South Korean court begins review of Yoon impeachment

On its website, SD Guthrie Bhd (KL:SDG) prides itself on being one of the world’s largest producers of certified sustainable palm oil. It has also been a member of the Roundtable on Sustainable Palm Oil since 2004.

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KUALA LUMPUR (Dec 15): Umno&nbsp;Supreme Council member Tengku Datuk Seri Zafrul Tengku Abdul Aziz stressed that he has not yet made any decision regarding the rumours of him&nbsp;joining PKR.

Zafrul: No decision made to join PKR

KUALA LUMPUR (Dec 16): Yinson Holdings Bhd (KL:YINSON), whose share price dropped nine sen in the morning session on Monday, is expected to see strong earnings ahead, as it gears up to deliver multiple major floating production storage and offloading (FPSO) units, with new opportunities on the horizon, said analysts.&nbsp;