Post Event Updates
“CRS – Opportunities and Challenges for Family Office and Family Funds” was a full-house hot topical session chaired and moderated by Ms Goh Seow Chee, Managing Director, J.P. Morgan Private Bank (Singapore). Mr Richard Grasby, Partner, Maples and Calder Hong Kong, shared the experiences of Cayman Islands as an early adopter, whilst Mr Desmond Teo, Partner, Financial Services Tax, International Tax Services, Ernst & Young Singapore provided insights into Singapore’s position on the implementation and impact of CRS. The distinguished panel comprising of a leading banker, lawyer and accountant combined to provide powerful perspectives on possible lessons to be gleaned by Singapore from the Cayman Islands as an early adopter. The session also focused on the competitive and complementary advantages for private family fund arrangements in the two comparative jurisdictions in relation to private fund tax and regulatory regimes, as well as the impact and implementation of CRS reporting. The event was extremely attended with 94 delegates and spawned many interesting thoughts and questions
“Get a Headstart in the Monkey Year with our Chinese New Year ‘Lo Hei’ Lunch” at the Straits Chinese Nonya Restaurant was a rowdy affair with our own private room to conduct the annual traditional auspicious fish toss (“lo hei”) on the very auspicious 8th day of the lunar new year (初八). Linda, our feisty STEP Singapore chair, had to bang vigorously on a porcelain cup with chopsticks (as she explained just earlier, firecrackers in Singapore are illegal) to get the crowd to quieten down just a little so that we could hear the auspicious sayings ushering in the year of the Fire Monkey. Then it was another burst of noise and excitement as everyone got into the act of tossing sky high. Here’s wishing everyone a very happy, healthy and prosperous Year of the Monkey!