26 Feb '12, 9pm

Luxury yacht sales in S'pore expected to rise - TODAYonline

SINGAPORE - Luxury yacht sales in Singapore are expected to rise on the back of rising wealth and affluence in the region. Market players say they expect sales revenue of such craft to grow by as much as 15 per cent this year and they believe customers are likely to demand bigger boats as well. The managing director of boating event organiser TMX Show Productions, Herman Ho said: "The industry now contributes merely less than 1 per cent to Singapore's economy but it's definitely on a gradual upswing momentum." The company organises the annual Boat Asia show in Singapore and last year the event generated about S$30 million in sales, according to Mr Ho. Meanwhile, yacht dealers like Ms Annie Lin, the managing director of Taiwan-headquartered firm Horizon Yachts, highlighted that boat enthusiasts are also going for larger and more luxurious yachts. "Earlier this year, we have...

Full article: http://www.todayonline.com/Business/EDC120227-0000043/Lux...

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