According to a Boston Consulting Group report, Singapore has the highest concentration of millionaire households in the world, with 15.5 per cent of all households boasting at least $US1 million ($940,000) in assets under management. The figure is far higher than second-ranked Switzerland, where 9.9 per cent of its households are in the millionaire category. Hong Kong came in fourth place, with 8.7 per cent.
One such millionaire Singaporean bidded $97,200 for two bottles of 200-year-old champagne ($54,000 bottle of Vevue Clicquot and $43,200 bottle of Juglar) salvaged from a shipwreck at the bottom of the Baltic Sea. Actioneer John Kapon of Acker Merrall & Conduit said the anonymous buyer now owns a piece of history.
|Dunearn Road Submerged|
"Minister, you mentioned improvements in the building codes," prompted the reporter at the press conference conducted by said Minister after the record flood waters had safely subsided. This is something that the BCA and PUB will have to study, deflected Balakrishnan, " I'm not an engineer, so I'll take it advice on a professional level." Take that as a lesson learned from the YOG blowout, when he failed to take advice from the Russians, who had prior organizational experience with a youth olympiad at Moscow. Since flooding is now deemed an engineering problem, not merely an act of God, why do we need a millionaire minister with no engineering background?
PUB's $uper$cale $alaried CEO Khoo Teng Chye suggested several ways to alleviate future flooding in the Tanglin area, including building a pond in the Botanic Gardens, "But given the built-up situation and high cost of land, these are very expensive schemes." That must be music to the Minister's ears - if that's one thing Balakrishnan is good at, it's writing big checks.