Category Archives: General

Harry’s set to open boutique hotel by April

Posted on 15 Oct 2009 | Comments Off on Harry’s set to open boutique hotel by April

Firm plans to also run two illy cafes and take pub chain to Vietnam

The Club, which will have 22 rooms, will operate out of four converted shophouses that used to house the offices of Batey Ads in Ann Siang Road. — PHOTO: HARRY’S HOLDINGS

HARRY, of the world-famous Harry’s Bar, is going places.

Well, Harry never existed. But the chain of pubs created in his name by an American expat and his friends in 1992, is diversifying to open a boutique hotel here next year and two gourmet coffee cafes.

It is also taking its pub chain abroad, with Vietnam the first stop. Continue reading →

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Super rich count the cost

Posted on 14 Oct 2009 | Comments Off on Super rich count the cost

Asia-Pacific’s high net worth individuals harder hit than global average. GENEVIEVE CUA reports

THE wealth of high net worth individuals (HNWIs) in the Asia-Pacific took a harder knock than the global average, falling below 2006 levels at end-2008. And while the sharp rebound in markets this year would have restored some of this wealth, it is estimated that aggregate wealth is still about 25 per cent below the peak in 2007.

But the ultra HNWI segment suffered an even bigger dent in wealth and numbers. This segment is defined by Merrill Lynch and Capgemini as people with investible assets of at least US$30 million excluding their home.

Based on data crunched by Merrill Lynch and Capgemini, the region’s HNWI population fell 14.2 per cent to 2.4 million individuals, compared with a global drop of 14.9 per cent. This segment has investible wealth of at least US$1 million. But in terms of the value of assets, HNWI wealth in the Asia-Pacific sank 22.3 per cent to US$7.4 trillion, below the 2006 level of US$8.4 trillion. Aggregate HNWI wealth hit US$9.5 trillion in 2007. Continue reading →

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