By Louis Barker May 25, 2017
Singapore is currently one of the fastest growing economies in Asia. This week the Ministry of Trade and Industry published information revealing that Singapore’s economy clocked a quicker-than-expected 2.7 per cent growth in the first quarter of 2017, when compared to results from the same time last year. This was helped largely by continued strength in the manufacturing sector.
Last month Argyle Coins set up their first headquarters out in Singapore with the aim of introducing our collector’s coins to a whole new audience. According to CEO and founder Rav Dhillon “We strongly believe that Singapore offers a wealth of opportunity and a great platform to promote our unique gold and silver coins. Not only do Singapore investors value diamonds and precious metals very highly, alternative investments are starting to become much more accepted as a method of wealth preservation.”
A recent survey by UBS bank found that eighty four percent of Singaporean millionaires believe they are living through the most unpredictable period in history, with the majority citing the risk of greater trade barriers as one of the largest sources of domestic uncertainty. When asked about any plans to change their investment portfolio in 2017, a large number claimed they were planning to achieve a more balanced and diversified portfolio and that they would consider alternative investments.
Singapore’s economy is expected to continue to grow throughout 2017, according to the Ministry of Trade and Industry with figures estimated at being “between 1 and 3 per cent for 2017, with growth likely to come in higher than 2 per cent, barring the materialisation of downside risks”