Singapore investors aim to uncork fine wine profits
Singapore investors aim to uncork fine wine profits
Sep 4, 2011 6
A growing number of Singaporeans have taken to investing in fine wine, lured by heady profits that can be as high as five times the initial investment cost.
This is according to wine brokers, who say Singaporeans are among their most enthusiastic clients.
Managing director of wine brokerage Australian Wine Index (AWI), Mr Andrew Bassett, said three out of four of his 3,000 clients are Singaporeans.
These include "many doctors, especially surgeons, lawyers, engineers, even some hawker stall owners and taxi drivers", said Mr Bassett, whose company has $80 million worth of wines stored here.
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