PANews reported on October 26th that, according to Lianhe Zaobao, the Monetary Authority of Singapore (MAS) has launched an investigation into whether Prince Group head Tan Chee established a Singaporean company, DW Capital Holdings (DWC), in violation of regulations. In 2018, Tan Chee established DW Capital Holdings (DWC) to manage family office assets, claiming to manage over S$60 million, including S$10 million in car financing, S$30 million in fine wines, and approximately S$20 million in yacht management and other ancillary services. DWC claimed to meet the requirements of the MAS's 13X program, thus enjoying tax exemptions.PANews reported on October 26th that, according to Lianhe Zaobao, the Monetary Authority of Singapore (MAS) has launched an investigation into whether Prince Group head Tan Chee established a Singaporean company, DW Capital Holdings (DWC), in violation of regulations. In 2018, Tan Chee established DW Capital Holdings (DWC) to manage family office assets, claiming to manage over S$60 million, including S$10 million in car financing, S$30 million in fine wines, and approximately S$20 million in yacht management and other ancillary services. DWC claimed to meet the requirements of the MAS's 13X program, thus enjoying tax exemptions.
The Monetary Authority of Singapore has launched an investigation into DW Capital Holdings, owned by Chen Zhi, the "Prince Group".
PANews reported on October 26th that, according to Lianhe Zaobao, the Monetary Authority of Singapore (MAS) has launched an investigation into whether Prince Group head Tan Chee established a Singaporean company, DW Capital Holdings (DWC), in violation of regulations. In 2018, Tan Chee established DW Capital Holdings (DWC) to manage family office assets, claiming to manage over S$60 million, including S$10 million in car financing, S$30 million in fine wines, and approximately S$20 million in yacht management and other ancillary services. DWC claimed to meet the requirements of the MAS's 13X program, thus enjoying tax exemptions.
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