13 Apr '11, 3am

Superyachts new status symbols for Asia's mega-rich

Superyachts new status symbols for Asia's mega-rich

SINGAPORE: Forget about limousines, penthouse apartments, private jets and other trappings of newfound wealth. For Asia's growing ranks of the ultra-rich, a superyacht has become the ultimate status symbol, and manufacturers of luxury craft are setting course for a region which by one count now boasts more than 330 billionaires. "I love having a yacht as it's a home that moves and I have a different view everyday," Singaporean tycoon Arthur Tay, one of the city-state's pioneering yachtsmen, told AFP. Tay owns Hye Seas II, a sleek 116-foot (35.4-metre) vessel that dominates a marina club he set up in the exclusive Sentosa Cove seaside enclave. The vessel boasts wood-panelled walls, a well-stocked bar, flat-screen televisions and plush sofas looking out to a sweeping view of the sea. "I relax when I'm on the boat -- get away from all the noise," Tay said. He declined to disc...

Full article: http://www.channelnewsasia.com/stories/lifestylenews/view...

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