04 Apr '11, 10am

More art than gold in Singapore's Fort Knox - Yahoo! Singapore Finance

On Monday 4 April 2011, 15:28 SGT By Kevin Lim SINGAPORE, April 4 (Reuters) - Just outside Singapore's Changi airport is an innocuous low-rise building ringed by high walls that holds more gold, art, antique cars and fine wines than almost any other location in the world. Singapore FreePort is a high-security facility for storing precious metals and other collectibles of the wealthy. It opened a year ago and already plans to double its size within the next two years as Asia's numbers of the seriously rich increase. "In Singapore you touch not only Chinese clients but also Indian, Malaysian, Indonesian, Japanese, Korean, everybody," Chairman Yves Bouvier told Reuters in an interview. "Changi Airport is a good airplane destination. It's not the same in Hong Kong where you touch only China." For Singapore, the facility complements the city-state's huge private banking industr...

Full article: http://sg.finance.yahoo.com/news/More-art-gold-Singapore-...

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