TechFlow News, October 26 — According to Lianhe Zaobao, a family office in Singapore has once again come under the spotlight due to the major fraud case involving Cambodia's太子Group. Chen Zhi, the head of 太子Group, established DW Capital Holdings (DWC) in Singapore in 2018 to manage the family office's assets, claiming to oversee more than 60 million SGD in assets.
The company claimed to meet the conditions of the Monetary Authority of Singapore's 13X scheme and enjoyed tax exemptions. Its managed assets reportedly included 10 million SGD in auto financing, 30 million SGD in premium wine investment, and around 20 million SGD in ancillary services such as yacht management. Currently, the Monetary Authority of Singapore is investigating whether the company violated regulations.
