How Asia’s Ultra-Rich Are Investing and Where Wealthy Chinese Are Migrating, According to Maybank Singapore CEO
Asia's ultra-rich still like gold, but they're branching out to digital assets as well, Maybank Singapore's CEO said.
TL;DR
- Ultra-high-net-worth individuals in Asia are exploring both financial instruments and physical assets like real estate and precious metals.
- Gold remains appealing as a store of value, with Goldman Sachs forecasting further price increases.
- The wealthy are increasingly open to new asset classes such as digital assets and cryptocurrencies, with interest primarily from younger generations.
- Singapore is attracting offshore wealth, with gold being shipped from Dubai to Singapore in significant quantities.
- Chinese investors are showing increased interest in Malaysia for business and family relocation due to attractive valuations compared to Singapore.
- Chinese buyers are acquiring real estate and businesses in Malaysian cities like Kuala Lumpur, Malacca, and Penang.