More people joining the ranks of the rich in Singapore

Financial institutions, fund managers and just about anyone who wants to follow the money have another reason to set up shop in Singapore.The number of wealthy individuals living in the smallest country in Southeast Asia is expected to rapidly increase over the coming years, and so will their assets, according to a report by London-based market research firm Datamonitor.These wealthy individuals in Singapore will rise in number to 600,000 by 2011 from the current 410,000. The combined…