Singapore’s Education Ranks Ahead of UK, Australia, Canada & USA

According to BBC UK news, Singapore education is ranked Top 5th in global league table. The first and second places are taken by Finland and South Korea.

The rankings combine international test results and data such as graduation rates between 2006 and 2010.

Sir Michael Barber, Pearson's chief education adviser, says successful countries give teachers a high status and have a "culture" of education.

The weightings for the rankings h

ave been produced for Pearson by the Economist Intelligence Unit.

Global competition
The two education superpowers - Finland and South Korea - are followed by three other high-performing Asian education systems - Hong Kong, Japan and Singapore.

Looking at education systems that succeed, the study concludes that spending is important, but not as much as having a culture that is supportive of learning. It says that spending is easier to measure, but the more complex impact of a society's attitude to education can make a big difference.

The success of Asian countries in these rankings reflects the high value attached to education and the expectations of parents.

The UK was found to have the second best education system in Europe, ahead of countries such as Switzerland, Denmark and Germany which were ranked 9th, 12th and 15th respectively.

The research is designed to help policymakers, school leaders and academics identify the key factors which drive improved educational outcomes.

For educational attainment, based on literacy and graduation rates from schools and colleges, the UK is second only to South Korea, while Finland, Singapore, Hong Kong, South Korea and Japan were ranked highly in the cognitive ability category based on international tests.

While investing in education "undoubtedly reaps rewards", the report - called the Learning Curve - suggested that a culture of support for education is probably more important. It also added that there was no substitute for high quality teaching. "The best performing countries attract top talent, train teachers throughout their careers and allow them freedom too" the report stated.


Learning Curve top 20 countries for education:
1. Finland
2. South Korea,
3. Hong Kong,
4. Japan,
5. Singapore,
6. UK,
7. Netherlands,
8. New Zealand,
9. Switzerland,
10. Canada,
11. Ireland,
12. Denmark,
13. Australia,
14. Poland,
15. Germany,
16. Belgium,
17. USA,
18. Hungary,
19. Slovakia,
20. Russia

Source: FamilyGP news - Tuesday, 27 November 2012

Singapore is rich expats' top place to live and work: Survey

By Aaron Low
The Straits Times
Thursday, Oct 11, 2012

SINGAPORE - Singapore has emerged as the top place for wealthy expatriates to live and work in, a new survey by HSBC Bank has shown.

Expats in the survey ranked Singapore first out of 30 countries based on economic factors such as earning power, disposable income and ability to accumulate luxuries.

Thailand was in the second spot, followed by Cayman Islands in third place.

About 44 per cent of respondents said they saw a 50 per cent or more increase in their disposable income after they relocated to Singapore, the report said.

The report, which surveyed more than 5,000 expats in 100 countries, also said that 54 per cent of expats here earned more than US$200,000 (S$246,000) a year.

They also ranked Singapore highly for its quality of life, placing the Republic fourth overall, especially for its safe environment in which to bring up children.

Singapore was ranked second in Asia, after Thailand, for quality of life. About 76 per cent of expats in the Republic say they are experiencing a better quality of life after relocating here.

Mr Paul Arrowsmith, head of retail banking and wealth management at HSBC Singapore, said the report showed that Singapore "is fast becoming an all-round expat destination for career progression, financial rewards and quality of life".

But the report also flagged the worrying trend of expats not integrating well in Singapore.

Just 19 per cent here strongly agree that they have integrated well into the local community, while 41 per cent strongly agree that they tend to socialise with other expats rather than locals.

Human resource analysts said the survey did not seem to be fully representative of the expat population here.

They noted that the sample size of expats for the survey here was just 54.

And Mr Phil Stanley, Mercer's Asia-Pacific global mobility centre of excellence leader, said that of the respondents, 46 per cent were from the banking industry.

"The other reason could simply be due to the profile of the individuals targeted to participate in this survey, who may be those at higher income levels," he said.

Why Study in Singapore ?

Why Study in Singapore ?

  Singapore is one among the top ten educational destinations in the world. The country seems to be a preferred place for Indian students owing to the following reasons:

Globally Recognized Qualifications

Singapore offers a progressive education system with state-of-the-art facilities. Students aspiring to study in Singapore receive degrees that are internationally recognized. There are wide range of study opportunities, including state administered primary, secondary schools, universities,polytechnics and private institutions.

A Cheaper Destination vis-à-vis Other Countries

The best thing about studying in Singapore is its proximity with India which reduces the expenses to as low as 60% less than as compared to major destinations like USA, UK, Canada or Australia.

English Extensively Spoken

Students do not find any difficulty communicating as English is the main language of business & administration & is widely spoken & understood in Singapore.

Clean, Green and Safe CountryGenerous pockets of lush gardens and tropical greenery co-exist with an urban landscape. There are strict rules on littering in Singapore, so students rarely see rubbish on the streets or graffiti on walls. It is apparent how Singapore earned its reputation as the Garden City. While the smaller islands around serve as excellent playgrounds for sea sports, Singapore, being only a few hours away from other countries in Asia, becomes ideal for both students and travelers alike in this region. A variety of Spas, shopping malls, carnivals and the presence of world's highest observation wheel all make student-life in Singapore exciting as well as enjoyable.Multicultural SocietySingapore's multicultural society is composed of four major ethnic groups: the Chinese, Malays, Indians and smaller minority groups.  The variety of religions is a direct reflection of the diversity of races living here. Singapore's principal religions are Buddhism, Islam, Hinduism, and Christianity.

Platform for Many Intentional Educational Institutions

Singapore has always been successful in attracting top global talent; this is evident from the fact that it compromises of a population where one out of four persons is a foreigner. Leading universities across the world have set up international campuses in Singapore, offering international degrees at almost half of the overseas tuition fee.A Leading Global Business Hub

More than 6,000 companies from around the worldhave set up base in Singapore, thus students often find it possible to build lucrative careers here after completing their education. Singapore has been consistently ranked as one of the most competitive business destinations for business in the world.

“World Leading” Education System

Singapore's education system has been described as "world-leading" and in 2010 was among those picked out for praised by the British education minister Michael Gove.

Lauded For Education in Mathematics and Science

Singapore has emerged first in both Mathematics and Science in a 49-country study of Grade 4 (Primary 4) and Grade 8 (Secondary 2) students conducted in 2002-03. The study, conducted by the International Association for Evaluation of Educational Achievement (IEA) based in Boston, USA, affirms the high quality of Mathematics and Science education in our public schools in Singapore.

Student Exchange Programmes

About 120 of the 353 primary and secondary schools in Singapore have some form of exchange programmes which allow students to visit overseas schools. In 2005, the Ministry of Education set up a SGD 4.5 million School Twinning Fund to facilitate 9,000 primary and secondary school students to participate in these exchange programmes, particularly in ASEAN countries, China and India.

For more details contact at admin@edusingapore.sg

Bachelor of Commerce (Supply Chain Management)

Study in Singapore! Bachelor of Commerce (Supply Chain Management) Awarded by The University of Wollongong, AustraliaApply for October intake!. Scholarship available for eligible students ...for more details contact us at admin@edusingapor

e.sg /www.facebook.com/studyinsingapore1

Bachelor of Commerce (Supply Chain Management)
Awarded by The University of Wollongong, Australia
The Supply Chain Management course provides students with an opportunity to develop skills and knowledge to lead as global managers of people, projects and sustainable systems through supply chain management and information technology.
Supply Chain Management is the concept of moving and handling goods and materials, from the beginning of production to the end of sales process. It includes associated reverse flows such as produce and equipment returns, and recycling. It involves the management of activities including transport, storage, packaging, procurement, and inventory management.

The program integrates theory with practical work applications and emphasises leadership, service, collaborative work, virtual team processes and internet-based communication.

It involves:
logistics performance measures and benchmarking procedures
world-class processes for customer service and order processing
inventory planning and management
supply chain integration
transportation, distribution and warehousing
logistics organisation design alternatives
The University's Accolades
Rated no.1 for student satisfaction among Australian university students in the independent Sweeney Research Group’s 2009 ‘Uni Student Report’
Rated in the top 2% of Research Universities in the World by its performance in 2010 Shanghai Jiao Tong Academic Ranking of World Universities
Achieved five-star ratings in Getting a Job, Positive Graduate Outcomes, Graduate Starting Salary, Research Intensity, Graduate Satisfaction & Generic Skills in 2010 Good Universities Guide (Universities & Private Colleages)
Excellence in Teaching and Learning

Bachelor of Commerce (Marketing)

Study in Singapore! Bachelor of Commerce (Marketing), Apply for October intake!. Scholarship available for eligible students ...for more details contact us at admin@edusingapore.sg /www.facebook.com/studyinsingapore1

Bachelor of Commerce 

(Marketing)
Awarded by The University of Wollongong, Australia
This course provides graduates with the skills to generate products and services for which there is a defined customer need, and to position those products or services in the market with effective branding, promotion, pricing and distribution strategies. The course is geared towards problem-solving and management decision-making.

Through subjects including market research, internet marketing, and international marketing, students learn how to analyse, plan, organise, motivate and control the marketing process; as well as the communication skills and creative thinking that are essential to successful marketing.
The University's Accolades
Rated no.1 for student satisfaction among Australian university students in the independent Sweeney Research Group’s 2009 ‘Uni Student Report’
Rated in the top 2% of Research Universities in the World by its performance in 2010 Shanghai Jiao Tong Academic Ranking of World Universities
Achieved five-star ratings in Getting a Job, Positive Graduate Outcomes, Graduate Starting Salary, Research Intensity, Graduate Satisfaction & Generic Skills in 2010 Good Universities Guide (Universities & Private Colleages)
Excellence in Teaching and Learning

MBA in Logistics and Supply Chain Management

Study in Singapore! MBA in Logistics and Supply Chain Management ..LOW FEES..DEGREE AWARDED BY UK UNIVERSITY..NO IELTS..ONEDAY BANK STATEMENT..SIMPLE VISA PROCESSING...for more details contact us at admin@edusingapore.sg /www.facebook.com/

studyinsingapore1

The Master of Business Administration with concentration in Logistics and Supply Chain Management is a professional degree intended for those who aspire to increasing levels of responsibility in business and industry. This programme is designed to provide you with a broadness of skills such as Project Management, Supply Chain Management and Logistics Operations. As business aspires to operate in the global marketplace, the leaders in the Logistics and Supply Chain fi eld need the skills to make effective decisions to gain competitive advantage.

The Logistics and Supply Chain capstone helps the students to develop a portfolio of management skill in transportation, distribution, procurement, and production systems with emphasis on organizational skills in the major areas of business.

The Coventry MBA is structured so that all students are exposed to a common core of management studies incorporating Strategic Management, Marketing, Financial Analysis, Human Resource Management and a MBA dissertation.

The MBA is a means of enhancing your career prospects as well as opening doors for future middle and senior managers – let Coventry University’s MBA enable you to meet your career aspirations successfully.

MBA in International Business

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e1

The Master of Business Administration (MBA) is the world’s premier business qualifi cation. The MBA is recognized internationally as an essential badge that graduate students must acquire in order to enhance their managerial careers in a world characterized by its speed of change and its global nature. Learning to manage in this business context requires new levels of both knowledge and personal skills. Hence, companies will continue to seek graduate MBA students with a view to renewing and refreshing their organizations with those managerial skills to implement change, to turn threats into opportunities and to acquire or sustain their organization’s competitive advantage.

The Coventry MBA is structured so that all students are exposed to a common core of management studies incorporating Strategic Management, Marketing, Financial Analysis, Human Resource Management, Business Economics and a Business MBA dissertation.
The MBA is a means of enhancing your career prospects as well as opening doors for future middle and senior managers – let Coventry University’s MBA enable you to meet your career aspirations successfully.

PLEASE CONTACT OUR SINGAPORE EDUCATION EXPERT AT admin@edusingapore.sg or Skype: studyworkinsingapore

MBA in Information Technology Management

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dyinsingapore1

The Master of Business Administration (MBA) is the world’s premier business qualifi cation. The MBA is recognized internationally as an essential badge that graduate students must acquire in order to enhance their managerial careers in a world characterized by its speed of change and its global nature. Learning to manage in this business context requires new levels of both knowledge and personal skills.

The MBA in Information Technology Management is designed to aid candidates develop the skills they need to leverage information technology to enhance business competitiveness and interact effectively with management as a strategic partner. People who choose this programme are often pursuing management and director-level positions in IT functions that need both information technology and business expertise.
The Coventry MBA is structured so that all students are exposed to a common core of management studies in Marketing, Financial Analysis, Human Resource Management and a MBA dissertation. The MBA is a means of enhancing your career prospects as well as opening doors for future middle and senior managers – let Coventry University’s MBA enable you to meet your career aspirations successfully.

PLEASE CONTACT OUR SINGAPORE EDUCATION EXPERT WITH YOUR RESUME AT admin@edusingapore.sg or Skype: studyworkinsingapore

MBA in ENGINEERING MANAGEMENT

Study in Singapore! MBA in ENGINEERING MANAGEMENT ..LOW FEES..DEGREE AWARDED BY UK UNIVERSITY..NO IELTS..ONE DAY BANK STATEMENT..SIMPLE VISA PROCESSING...for more details contact us at admin@edusingapore.sg /www.facebook.com/studyinsingapo

re1

The Master of Business Administration (MBA) is the world’s premier business qualifi cation. The MBA is recognized internationally as an essential badge that graduate students must acquire in order to enhance their managerial careers in a world characterized by its speed of change and its global nature. Learning to manage in this business context requires new levels of both knowledge and personal skills. Hence, companies will continue to seek graduate MBA students with a view to renewing and refreshing their organizations with those managerial skills to implement change, to turn threats into opportunities and to acquire or sustain their organization’s competitive advantage.

The Coventry MBA is structured so that all students are exposed to a common core of management studies incorporating Strategic Management, Marketing, Financial Analysis, Human Resource Management, Business Economics and a Business MBA dissertation.
The MBA is a means of enhancing your career prospects as well as opening doors for future middle and senior managers – let Coventry University’s MBA enable you to meet your career aspirations successfully.

PLEASE CONTACT OUR SINGAPORE EDUCATION EXPERT WITH YOUR RESUME AT admin@edusingapore.sg or Skype: studyworkinsingapore

Advanced Diploma in Visual Communication (Graphic Design)

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acebook.com/studyinsingapore1

Advanced Diploma in Visual Communication (Graphic Design)
Entry requirements: India- 10th or +2 \ Malaysia - SPM or STPM \ other countries O or A level

Students will gain broad-based knowledge on a variety of design communications disciplines, including advertising, branding, visual identity, packaging and design management. The incorporation of design management modules into the curriculum arms the students with an acute understanding of management thinking and deployment of business strategies in the competitive marketplace.

Overall, this programme develops students' conceptual and ideas generation abilities to produce innovative and effective communication solutions/products through print and/or online mediums.

Duration:

The programme in Advanced Diploma in Visual Communication (Graphic Design) is of 2 years duration. For those with exemptions granted, course duration may be shorter.

Please contact us at admin@edusingapore.sg or Skype: studyworkinsingapore

Advanced Diploma in Visual Communication (Multimedia)

Study in Singapore!...Advanced Diploma in Visual Communication (Multimedia) ..LOW FEES.....NO IELTS..ONE DAY BANK STATEMENT..SIMPLE VISA PROCESSING..FEES PAY IN INSTALLMENTS...for more details contact us at admin@edusingapore.sg \www.face

book.com/studyinsingapore1

Advanced Diploma in Visual Communication (Multimedia)

Entry requirements: India- 10th or +2 \ Malaysia - SPM or STPM \ other countries O or A level

Students that elect to study multimedia will acquire life drawing skills and software rendering techniques for the development of cartoon characters and animated background.

Apart from honing visual conceptualisation expertise to create 2D and 3D animation for the various multimedia platforms – including internet, digital, television and movies – the curriculum also equips the students with ideas generation abilities for the development of stories.

Students will also get heightened exposure through cross training opportunities, such as to participate in the production of animated short films, collectively or individually.

Duration:

The programme in Advanced Diploma in Visual Communication (Multimedia) is of 2 years duration. For those with exemptions granted, course duration may be shorter.

Advanced Diploma in Fashion Design & Merchandising

Study in Singapore!...Advanced Diploma in Fashion Design & Merchandising ..LOW FEES.....NO IELTS..ONE DAY BANK STATEMENT..SIMPLE VISA PROCESSING..FEES PAY IN INSTALLMENTS...for more details contact us at admin@edusingapore.sg \www.facebook

.com/studyinsingapore1

Advanced Diploma in Fashion Design & Merchandising
Entry requirements: India- 10th or +2 \ Malaysia - SPM or STPM \ other countries O or A level

The programme cultivates students' innate creativity through sharpening their design knowledge, drawing proficiency and technical know-how. In preparing the students for their foray into the world of fashion, they will be taught to research, experiment, discover and innovate through a series of diverse subjects – sewing, pattern-making and draping.

This programme also includes a merchandising module to enrich the student's understanding of buyers' behaviour and operational issues in a dynamic retail environment.

Fashion Design students will gain first hand experience in the retail and fashion trade, by interning with our industry partner, Blum & Co, and other industry partners as assistants in the creative studios and styling departments.

Duration:

The programme in Advanced Diploma in Fashion Design & Merchandising is of 2 years duration. For those with exemptions granted, course duration may be shorter.

Please contact us at admin@edusingapore.sg or Skype: studyworkinsingapore

Singapore: world's richest country by 2050? Citibank report says US will sink to fifth-richest nation within 40 years

If you enjoy peering inside the minds of the world's super rich, take a spin through the 2012 "Wealth Report."

Compiled by Citibank, and a property consultancy called Knight Frank, it's a lengthy analysis based partly on interviews with the super rich. (Definition: people with more than $25 million in investable assets.)

Yes, the report contains musings on why yacht sales are down and the pros and cons of buying a sports franchise. But that's not the most interesting part.

The study predicts that Singapore -- that little Southeast Asian city-state with loads of Type A zeal -- will be the world's richest nation by 2050.

And by that, they mean its per capita GDP at purchasing power parity. (For those who skipped economics class, this attempts to more accurately measure the average income by considering inflation, cost of living and exchange rates.)

According to Citibank's 2050 prediction, the top five countries by this measure will be:

1. Singapore: $137,710

2. Hong Kong: $116,639

3. Taiwan: $114,093 (Congratuations, Taiwan, Citibank analysts think you'll make it 2050 without being consumed by China.)

4. South Korea: $107,752

And sliding in at number five, the only non-Asian nation, the U.S.: $100,802

But there are glaring questions about these numbers, which are based on Citibank's own analysis.

According to the report, Singapore is already the top GDP per capita champ with a figure of more than $56,000. But that doesn't account for tiny, oil-rich Qatar, which leads most rankings with an average of more than $92,000 according to the World Bank. And there's no mention of super-affluent Luxembourg either.

Regardless, Singapore is genuinely affluent and the report suggests why.

In interviews with "high net-worth individuals" around the globe, the Wealth Report asked the super rich about their "favorite things."

In response, Indians said cars and gadgets, Latin Americans said traveling and Africans said safaris.

The favored items of extremely wealthy Singaporeans?

"Books and reading materials."

http://www.globalpost.com/globalpost-blogs/southeast-asia/singapore-richest-country

Singapore No 1 finance centre by 2022?

Low-tax and bank-friendly environment cited as a major attraction in survey

LONDON - Top United Kingdom traders and dealmakers bruised by intense banker bashing believe an Asian city, possibly Singapore, will take over as the world's dominant financial centre within 10 years, according to a survey.

Nearly two-thirds of 450 British investment bankers surveyed by headhunters Astbury Marsden said Singapore, Shanghai or Hong Kong would be the top global financial centre in 10 years.

One-fifth felt London would be the world leader in 2022 and one-sixth said New York would hold the No 1 spot.

"A fast-growing, low-tax and bank-friendly environment like Singapore stands as a perfect antidote to the comparatively high tax and anti-banker sentiment of London and New York," said Mr Mark Cameron, Operations Chief at Astbury Marsden.

The annual Preferred Location Survey also found Singapore is the city where British bankers would most like to live, claiming 31 per cent of the vote, up from 27 per cent last year.

"Financial centres in the West have taken a real battering since the start of the financial crisis," said Mr Cameron.

"Cities like Singapore and Hong Kong have been quick to capitalise on setbacks in London and New York, courting investment banks and reacting to demand from expats," he added.

Investment banks and trading firms in New York and Europe have struggled to maintain profitability in recent years amid economic uncertainty partly linked to the ongoing euro zone debt crisis.

Commodities trader Trafigura said in May that Singapore would become its main trading centre as it seeks to tap demand in Asia, dealing a blow to former home Switzerland. 

Asian banks, in contrast to their Western peers, avoided much of the damage inflicted by the latest financial crisis and have benefited in recent years from solid economic growth and a booming commodities market across the Asia-Pacific region. REUTERS

Happy Onam 2012

Singapore top business destination in Asia Pacific: survey

Singapore top business destination in Asia Pacific: survey

SINGAPORE: Singapore has emerged as the top business destination in the Asia Pacific region in the first half of the year.

This, according to a survey of over 2,500 business trave

llers based in the Asia Pacific region conducted by international hotel operator Accor.

The Asia Pacific Business Traveller Research survey is conducted annually to find out travel and behavioural preferences of business travellers based in the region.

More travellers are coming to Singapore more frequently for business visits.

Accor found out that the "Garden City" is the most visited destination for travellers from Indonesia, Malaysia, Thailand and India.

Vice president of Communications at Asia Pacific Accor, Evan Lewis, said: "Business travellers are reflections of business sentiments and the volume of travels is a reflection of how the economies are doing. So, I think it is somewhat inter-related, in the case, Singapore being a gateway to Southeast Asia and therefore into relatively strong economies."

Asian business travellers are willing to spend more for their business hotel accommodation.

On average, travellers spent as much as US$125 per night on hotel accommodation during the first six months of 2012 - some 3 per cent higher than last year.

Singaporean business travellers are the top spender - setting aside US$156 a night on accommodation for an average of three nights during their business trips.

According to the survey, free wi-fi was listed as a key factor when choosing a hotel, but most disagreed.

Senior vice president of Park Hotel Group, Mohd K Rafin, said: "Service and location come up quite regularly (as) top preferences. Location because of the convenience, where it is easily accessible to them. But, most so, service is equally important. Services - the reliability to be able to provide very consistently their needs."

Some hotels such as Pan Pacific Singapore believe that guests value an all-round memorable stay, which include quality fittings and services.

The hotel is currently undergoing an S$80 million renovation project, which is due to be completed at the end of August.

General manager of Pan Pacific Singapore, Scott Swank, said: "The physical side which we are addressing with our renovations here in Singapore. The most important things for the customers are they have a great bathroom, they have a large working desk and very much today, technology is an innovative part of their guest room stay."

Apart from hotel room rates, food and beverage spending make up the next largest expenditure item of business travellers.

- CNA/ck

Singapore beat Hong Kong as Asia’s most popular business destination. Thursday, 16th August 2012

The third annual 'Accor Asia-Pacific Business Traveller Research, Singapore' also showed that Singapore was among the top three destinations visited in the first half of 2012 by business travellers from all countries surveyed.

“This year, more travellers are going to Singapore, indicating the strength of the Southeast Asian economies and perhaps, the slowing in North Asian economies,” said Evan Lewis, vice-president communications, Accor Asia-Pacific, which commissioned the survey. “That said, Hong Kong remains an important gateway for travellers doing business in Mainland China—and for Mainlanders engaging in business travel.”

Accor found that business travellers took an average of 10 business trips in the first six months of 2012, an increase from the six trips recorded in the 2011 survey. The increase was driven largely by a greater number of domestic trips this year.

Chinese business travellers took the highest number of business trips (14) while Hong Kong and Singapore took the highest number of international trips with eight trips and seven trips, respectively. Hong Kong was still the favorite among travellers from Mainland China (45%), Thailand (26%) and Australia (16%).

More than a third (35%) of Asia-Pacific professionals reported an increase in travel, with the top reasons cited being a change in role that required more travel (38%); an increase in business year-on-year (35%) and increased sales and marketing efforts (28%). Some 20% also attended more conferences and seminars.

Source: http://www.4hoteliers.com/4hots_nshw.php?mwi=10300

Scholarships for MBA and BEng at Singapore

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Last opportunity window to apply for Newcastle – MBA (AUG/SEPT), Manchester – Bachelors in BM or AF or IB (SEPT/OCT), PSB Diploma Mechanical Engineering or BA or Hospitality (SEPT/OCT). Scholarships for all above programs are available. Contact us now! @ admin@edusingapore.sg

Forbes Rich List Scratches the Surface in Singapore

By Shibani Mahtani

Reuters

Yachts berthed at the One Degree 15 Marina Club on Sentosa Island in Singapore.

SINGAPORE – The latest list of wealthy Singaporeans from Forbes magazine showed lots of money sloshing around Singapore – but it may just be the tip of the iceberg.

The magazine’s latest annual ranking of the city-state’s wealthiest 40 individuals found that Singapore’s richest people have a collective net worth of US$59.4 billion, up from $54.4 billion last year, with 16 billionaires locally compared to 13 last year. But separate estimates from Wealth-X, a group which provides intelligence on the world’s high net worth individuals, suggests that there may be at least 10 others in Singapore worth over US$280 million who might have been left out of the list. ($280 million was the worth of the 40^th-ranked Singaporean this year, Ho Kwon Ping of Banyan Tree Resorts).

Boston Consulting Group, meanwhile, has said Singapore has the highest percentage of millionaire households in the world, suggesting there are lots of other big fish who have tons of money but just not quite enough to make Forbes’s roster.

The Forbes list of Singapore’s 40 richest did not include Goh Cheng Liang, who founded Nippon Paint (Singapore), a regional distributor of the Japanese paint manufacturer. Mr. Goh, who also founded Wuthelam Holdings – a private conglomerate with investments in retail, manufacturing, construction and property – is also a philanthropist, and is worth an estimated US$1.2 billion according to Wealth-X.

The list also left out Frank Tsao Wen King, the founder of International Maritime Companies (IMC) Group, which was started in Hong Kong but moved to Singapore in the early 1990s. Mr. Tsao is currently the senior chairman of the company and a shareholder of the Suntec Real Estate Investment Trust. According to Wealth-X estimates, Mr. Tsao is worth US$820 million – which would place him in the 21^st spot on Forbes’ list.

Calculating individuals’ wealth is often difficult and frequently subject to debate. Individuals don’t always make it easy for researchers to identify all their assets or sources of income, and complex family relationships can make it even harder to parse out who controls what. Since fortunes are often based in part on stock holdings or other assets whose values move up and down over time, a person’s net wealth can change dramatically depending on when the research into their holdings is completed.

Forbes said its list was compiled using shareholding and financial information obtained from the families and individuals as well as stock exchanges, analysts and regulatory bodies in Singapore. The fortunes were calculated based on stock prices and exchange rates as of July 13, while private companies were valued based on similar companies that are publicly traded.

Wealth-X said it tracks a wide variety of metrics including equity stakes, cash salaries, and assets such as real estate, planes, and art.

Various consultancies, private wealth managers and other observers have noted that wealth in the city-state has steadily been expanding over the years, as the world’s wealthy individuals are tempted to place more assets in the country – or move there entirely – thanks to Singapore’s low tax rates and comfortable living environment. Among the most famous is Facebook co-founder Eduardo Saverin, who made his debut on the Forbes list this year at #8 after he recently renounced his U.S. citizenship in favor of long-term residence in the city-state.

Ten of every 100,000 households in Singapore are now classified as “ultra-high-net-worth” households, meaning they each have more than US$100 million in private financial wealth, according to BCG. This number is just shy of the comparable metric in Switzerland, which has the highest concentration of ultra-high-net-worth households at 11 for every 100,000, and above Hong Kong, which has seven of these for every 100,000 households.

Flashy displays of wealth – particularly on the part of foreigners – have also created a tense atmosphere at times in the city-state, with some locals feeling disgruntled that more wealthy foreigners are now residing in the city state, and possibly helping push other costs higher as they spend more.

Earlier this year, Singapore ended a program that allowed wealthy foreigners to get permanent residency as long as they kept S$10 million (US$7.9 million) in assets in the country for five years. The move was also designed to cool the property market, whose price increases have been driven in part by foreign investment, irking Singaporeans and undercutting support for the ruling People’s Action Party.

Besides Mr. Saverin, Forbes’ list of the 40^th wealthiest Singaporeans also features several other new entries, including Raj Kumar and his son, Kishin RK, who are behind the privately-held property empire Royal Holdings and RB Capital. Listed at number 11^th on the list and worth $1.5 billion, they are among Singapore’s eight new billionaires making their debut on the 2012 list.

Remaining on the top of Forbes’ list after being #1 last year is the Ng family – specifically, Robert and Peter Ng – who run Far East Organization, which was founded by their father who died in 2010. The group boasts annual revenues of $5.5 billion, and is behind hundreds of properties, including hotels and malls, in Singapore and Hong Kong.

Singapore – Home to the World’s Richest People

Associated Press

A man is silhouetted against the skyline of Louis Vuitton’s floating store and the financial district of Singapore.

Yet another wealth report has put tiny Singapore on the top of its charts – this time, as the wealthiest nation in the world by GDP per capita, beating out Norway, the US, Hong Kong and Switzerland.

The report, released this week by Knight Frank and Citi Private Wealth, estimates that Singapore’s GDP per capita – at US $56, 532 in 2010, measured by purchasing power parity – is the highest in the world, topping Norway (US$51, 226), the US (US$45, 511) and Hong Kong (US$45, 301). The report also predicts that Singapore will hold its place as the world’s most affluent country in 2050 (by GDP per capita), followed closely by Hong Kong, Taiwan and South Korea who will displace Norway and Switzerland as the world’s richest places.

This figure is no doubt bolstered by the staggering number of millionaires in the city-state, which Knight Frank and Citi Private Wealth predict will only keep growing. According to their estimates, Singapore will see a 67% increase in centa-millionaires over the next four years – an über-wealthy class with over US$100 million in disposable wealth. Earlier reports, like the Boston Consulting Group’s Wealth Report released in June, said Singapore has the highest percentage of millionaire households in the world, a title the city-state has held on to for two years running.

Singapore is not the lone beneficiary of Southeast Asia’s wealth explosion, and according to the report the number of people in the entire region with more than US$100 million in disposable assets (excluding property, for example) has increased by 80% in the past five years. Between 2010 and 2011, the number of these centa-millionaires grew 13% — higher than the global average at 6% — and will grow by 44% by 2016. Correspondingly, some Southeast Asian cities have seen property prices increase significantly in the past year, including the Indonesian island of Bali where property prices increased 15% and Jakarta, where they increased by 14.3%.

There are now 18, 000 people with US$100 million or more in disposable assets in Southeast Asia, China and Japan, according to Knight Frank’s estimates – more than North America, which has 17, 000, and Western Europe with 14, 000.

Still, these ultra-high net worth individuals are not completely confident that their large masses of wealth will be completely unaffected by turbulence in the world economy and changing political situations, according to surveys conducted by Knight Frank. In Singapore, the wealthy are most afraid of the impact of the global financial crisis on their wealth, but those in Hong Kong are more worried about the devaluation of currency and those in India are most worried about domestic inflation.

With its high density of Louis Vuitton boutiques, luxury nightclubs and multi-million dollar property, Singapore is also growing in importance as a city for the world’s high net worth individuals. Surveys asking über-wealthy individuals to rank cities in terms of “economic activity, political power, quality of life, knowledge and influence” found that Singapore was the fifth most important city for the world’s wealthiest individuals. Here, the city-state was beaten by London, New York, Hong Kong and Paris, indicating that the world’s most global cities continue to lure the rich.

According to Knight Frank, even respondents in Asia-Pacific put London and New York ahead of Hong Kong and Singapore – an indication that economic growth may not be the most important factor when a high-net worth individual chooses his city of residence.

In the next 10 years, according to the report, Shanghai will be the fourth-most important city for the world’s wealthy with the “relative anonymity of… secondary cities” like Chongqing and Dalian likely to change in the near future, evidenced by an explosion of a luxury goods market in cities that are not yet on the map of the world’s wealthy.

The Knight Frank and Citi wealth report notes that “many of those fast-growing Chinese cities… performed significantly less well for freedom of expression and human rights – something that may hinder any future ascent to the top of the overall ranking.”

By Shibani Mahtani

• GDP, 
• HNWIs, 
• Hong Kong, 
• Singapore, 
• Wealth