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Trading Wunderkind's Alleged $740 Million Fraud Jolts Singapore

Trading Wunderkind's Alleged $740 Million Fraud Jolts Singapore
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National University Of Singapore , Singapore General , Lawrence Loh , Yu Zhi , Peter Harold , Davinder Singh , Pagani Huayra , A Pagani Huayra , National University Of Singapore Business School , Affairs Department , Hin Leong Trading Ltd , Yong Loo Lin School Of Medicine , Monetary Authority Of Singapore , Poseidon Nickel Ltd , Private Banking , Centre For Governance , Song Seng Wun , Davinder Singh Chambers , Yong Loo Lin School , National University , Commercial Affairs Department , Straits Times , Envy Asset Management , Envy Global Trading , Envy Asset , Envy Global ,

Singapore trader's lavish lifestyle allegedly fuelled by $1 billion fraud

Suhaimi Abdullah/Getty Images
A Singapore trader has been charged with four counts of fraud for allegedly raising at least $1 billion from investors for commodity trades that didn t exist (file photo).
At 33, Ng Yu Zhi had all the trappings of a wildly successful trader: a Rolodex full of rich clients, a three-storey villa in a posh Singapore neighbourhood and a Pagani Huayra supercar reportedly worth more than $5 million.
Local prosecutors allege Ng also had a dark secret: his lavish lifestyle, they say, was built on lies.
In a case that has riveted Singapore s moneyed classes, Ng was charged last month with four counts of fraud for allegedly raising at least $1 billion from investors for commodity trades that didn t exist. ....

National University Of Singapore , Singapore General , Lawrence Loh , Yu Zhi , Peter Harold , Davinder Singh , Pagani Huayra , A Pagani Huayra , National University Of Singapore Business School , Affairs Department , Hin Leong Trading Ltd , Yong Loo Lin School Of Medicine , Monetary Authority Of Singapore , Poseidon Nickel Ltd , Private Banking , Centre For Governance , Song Seng Wun , Davinder Singh Chambers , Yong Loo Lin School , National University , Commercial Affairs Department , Straits Times , Envy Asset Management , Envy Global Trading , Envy Asset , Envy Global ,

How a Singapore trader allegedly defrauded investors of $740m

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At 33, Ng Yu Zhi had all the trappings of a wildly successful trader: a Rolodex full of rich clients, a three-storey villa in a posh Singapore neighbourhood and a Pagani Huayra supercar reportedly worth more than $5 million.
Local prosecutors allege Mr Ng also had a dark secret: His lavish lifestyle, they say, was built on lies.
In a case that has riveted Singapore’s moneyed-classes, Mr Ng was charged last month with four counts of fraud for allegedly raising at least S$1 billion ($740m) from investors for commodity trades that didn’t exist.
The police have called it one of the city-state’s largest-ever suspected investment fraud schemes. It’s also the latest in a series of scandals in the financial and commodities-trading hub, where assets under management have swelled to S$4 trillion thanks largely to inflows from overseas. ....

National University Of Singapore , Singapore General , Lawrence Loh , Yu Zhi , Peter Harold , Davinder Singh , Pagani Huayra , A Pagani Huayra , National University Of Singapore Business School , Affairs Department , Yong Loo Lin School Of Medicine , Monetary Authority Of Singapore , Private Banking , Centre For Governance , Song Seng Wun , Davinder Singh Chambers , Yong Loo Lin School , National University , Commercial Affairs Department , Straits Times , Envy Asset Management , Envy Global Trading , Envy Asset , Envy Global , Hin Leong Trading , While Singapore ,

Light at the end of the tunnel? Singapore to maintain 5.8% GDP growth forecast

Light at the end of the tunnel? Singapore to maintain 5.8% GDP growth forecast
Staff Reporter
© Provided by Singapore Business Review
Singapore continues to recover from its 5.2% contraction in 2020, as Fitch Solutions maintains its forecast of 5.8% gross domestic product (GDP) growth in 2021.
According to Fitch, the relatively strong performance of 0.2% YoY growth in Q1 2021, which outperformed consensus estimates of -0.2% YoY growth, gives confidence in its view that Singapore will see unusually strong growth figures off a very low base in 2020 during which the economy contracted by 5.2% in real terms.
Broadly, we expect all expenditure components except government consumption to contribute positively to growth. Private consumption and fixed investment are likely to pick up as slack in the economy dissipates along with progress in vaccination campaigns around the world, supported by residual the government s budget measures to boost these ....

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Exports tripled their growth to 12.1% in March

Exports tripled their growth to 12.1% in March
Staff Reporter
© Provided by Singapore Business Review
Non-oil domestic exports (NODX) rose by 12.1% in March year-on-year, almost triple of the 4.2% growth recorded in February, according to latest data from Enterprise Singapore..
This boost came from growth in domestic exports in both the electronics and non-electronics sectors.
Electronic products more than tripled their growth to 24.4% year-on-year in March, compared to the 7.3% recorded in February, which was driven in part from last year s low base. ICs, PCs and diodes and transistors grew by 19.2%, 66.1% and 44.4% respectively, and contributed the most to electronic NODX.
Non-electronic products grew by 9.4% in March compared to the previous year, also almost triple the 3.2% reported in February. Petrochemicals, specialised machinery and pharmaceuticals contributed 51.4%, 35.1% and 25.5% respectively to growth in non-electronic NODX. ....

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