1. Citibank Singapore Chief Praises
Singapore’s Financial Infrastructure
In a recent interview with the Wall Street Journal, Michael
Zink, Citibank's country officer, pointed to effective
government policy as well as cutting-edge technologies
as secrets to Singapore’s success in becoming a global
leader in private banking and wealth management. This
is a strong indicator of the current economic stability in
Singapore, says leading local company registration
specialist, http://www.rikvin.com/
Government policies that favour low taxation and draw the wealthy to park their
cash in Singapore have helped the private banking sector tremendously, as has
the increasing population of wealthy Asians, said Citibank Singapore country
officer Michael Zink. Singapore’s stock markets have traditionally been a safe
haven in an era of international economic instability, leading to a rise in company
registrations from overseas, said a representative of Rikvin Singapore.
In the interview with the Wall Street Journal, Zink mentioned that the Singapore
Stock Exchange (SGX) is fourth, just behind London, New York, and Tokyo.
"[Singapore's government] understands that they have to stay out at the cutting
edge of technology and regulation and everything else to stand apart," he said.
He also felt that Singapore’s sophistication was underappreciated by many in the
global financial community.
“If you think about the big North American global banks—Citi, J.P. Morgan Chase
& Co., Goldman Sachs Group Inc., Bank of America, Morgan Stanley—all five of
those banks have their commodity hubs here. So there's probably a lag that
people are working on,” he said.
According to a recent Channel NewsAsia report, the SGX will roll out two new
initiatives to improve market transparency and trading safeguards.
SGX will now publish real-time indicative equilibrium prices (IEP) during the
opening and closing routines. This acts as an indication of the eventual opening
or closing prices and allows punters to better assess market conditions, and
adjust their orders accordingly.
This enhances safeguards against attempts to manipulate the opening and

2. closing prices, such as from the sudden entry or withdrawal of large orders. The
changes will come into effect on 26 September 2011.
"We are pleased to be able to better meet customers' need for increased
transparency, richer functionalities, greater capacity, and improved latency with
these initiatives. Improvement and innovation are necessary to enhance
Singapore's edge as a leading financial centre. We will continue to offer new
market features and initiatives for the benefit of all market participants," said Gan
Seow Ann, president of SGX.
Although a stable and business-friendly country, applying to set up a corporate
entity in Singapore is a relatively complicated and lengthy process, with possible
rejection from the smallest error in paperwork, particularly if the applicant is
unfamiliar with local business compliance practices. Company registration
specialists such as Rikvin Singapore assist such parties by handling the entire
registration process from beginning to end.
About Rikvin:
Rikvin offers business solutions for both local and foreign investors and
entrepreneurs. The firm’s specialties include company registration services,
offshore company setup, incorporation and other related corporate services.
Rikvin also provides professional services on accounting, taxation, immigration
and application of Singapore work visa for foreign workers to work and relocate
in Singapore. For enquires on setting up a company in Singapore, visit our
website at http://www.rikvin.com/.
Rikvin PTE LTD
20 Cecil Street,
#14-01, Equity Plaza,
Singapore 049705
Main Lines : (65) 6438 8887