What about hard cash belonging to Malaysians in ‘safe houses and banks’ all over the world?

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 Did consultant Henley & Partners and global wealth intelligence firm New World Wealth overlook Malaysians and Malaysia with hard cash tucked away in “safe houses in Malaysia and banks all over the world by thieves/kleptocrats who stole millions, if not billions, of Ringgit from the rakyat dan negara (people and country)?

What about hard cash belonging to Malaysians in ‘safe houses and banks’ all over the world?

KUALA LUMPUR, April 15, 2025: The tiny island republic Singapore has remained as the 4^th wealthiest city in the world.

It is home to 333 centi-millionaires and 30 billionaires, according to the World Wealthiest Cities Report 2025.

But, is it flawed?

Did the report fail to consider Malaysia with its yet-to-be exposed wealth safely tucked with hard cash in “safe houses’ not only in Malaysia but all over the world, including banks! 

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No News Is Bad News reproduces below news reports on Singapore as the 4^th wealthiest city in the world:

Singapore remains world’s 4th wealthiest city

By Minh Hieu   April 14, 2025 | 01:54 am PT

The Singapore Flyer observation wheel is pictured in front of commercial buildings in Singapore on Jan. 21, 2022. Photo by AFP

Singapore retained its position as the world’s fourth richest city with 242,400 individuals holding a net worth of over US$1 million as of 2024.

The city-state is also home to 333 centi-millionaires and 30 billionaires, according to the World Wealthiest Cities Report 2025 by investment migration consultant Henley & Partners and global wealth intelligence firm New World Wealth.

The annual report, which ranks cities based on the number of high-net-worth residents, said Singapore’s millionaire population grew by 62% from 2014 to 2024.

In the Asia region, it trails only Japan’s Tokyo, which ranked third globally with 292,300 millionaires, 262 centi-millionaires and 18 billionaires.

This year’s top five remained largely unchanged. New York City retained its position as the world’s wealthiest city with 384,500 high-net-worth individuals in 2024, a 45% increase over the past decade.

The Bay Area, which includes San Francisco and Silicon Valley, held second place with 305,700 millionaires, nearly doubling (98%) its 2014 figure.

Los Angeles completed the top five with 220,600 millionaires. The fifth spot was previously held by London, which is now in the sixth position with 215,700 high-net-worth residents.

Singapore’s 4th richest billionaire Kwek Leng Beng receives $4.5M remuneration from CDL after boardroom feud with CEO son

By Minh Hieu   April 14, 2025 | 12:53 am PT

Kwek Leng Beng (L), executive chairman of City Developments Limited, and Sherman Kwek, group CEO of the company. Photo courtesy of Reuters, City Developments Limited

Kwek Leng Beng, executive chairman of CDL, received reduced remuneration of S$5.97 million (US$4.55 million) for 2024 after a boardroom tussle with his son dragged down the firm’s share price.

This marked a 13.6% drop from S$6.91 million the year before, The Straits Times reported, citing the property developer’s annual report for the 2024 financial year released on April 8.

His son Sherman Kwek, the firm’s CEO, also saw his remuneration reduced by 15.4% to S$2.97 million for 2024. He also chose to forgo a long-term incentive grant of S$1.35 million.

In comparison, Sherman received S$3.52 million in compensation along with the S$1.35 million grant for FY2023, according to The Business Times.

These reductions came amid a slump in CDL’s performance. Its net profit slid by 36.6% year-on-year to S$201.3 million in 2024 while its revenues dropped by 33.8% to S$3.3 billion.

They also followed a drop in the company’s share price after a public dispute between Leng Beng and Sherman earlier this year.

Leng Beng previously filed a lawsuit against Sherman in late February, alleging that he bypassed the firm's nomination committee on a couple of occasions to change the board composition and made significant changes to committees and governance.

Public back-and-forth ensued, with Sherman pinning the blame on his father’s long-time adviser, Catherine Wu, and Leng Beng calling out his son’s "long series of missteps" that he believed caused CDL’s shares to lag behind those of its rivals.

Leng Beng withdrew the lawsuit on March 13, citing a unanimous decision among board members to set aside their differences in the interest of CDL and its stakeholders.

But the feud has weighed on the developer’s stock, which has declined by 12% this year and sank to a 16-year low of S$4.48 on April 8.

CDL has also lost its position as Singapore’s most valuable publicly traded property firm.

Leng Beng and his family have a combined net worth of US$11.5 billion, making him the city-state's fourth richest billionaire on Forbes' Singapore rich list last September.