The Monetary Authority of Singapore has launched an investigation into DW Capital Holdings, a local family office involved in the "Prince Group".

according to Lianhe Zaobao, the Monetary Authority of Singapore has launched an investigation into DW Capital Holdings, a local family office linked to the "Prince Group". It is reported that the institution was founded by the head of the "Prince Group", Chen Zhi, in 2018, with assets under management exceeding 60 million Singapore dollars and claiming to comply with the Monetary Authority of Singapore's 13X plan conditions, therefore enjoying tax exemptions. Data shows that the number of single family offices in Singapore receiving tax incentives issued by the Monetary Authority has increased from 1400 at the end of 2023 to over 2000 at the end of 2024, an increase of 42.9%.