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A US$100 bil REIT rout pulverizes family fortunes across Asia

Bloomberg
Bloomberg • 3 min read
A US$100 bil REIT rout pulverizes family fortunes across Asia
Singapore REITs, which offer the region’s highest yields, may be hit harder by the virus than the 2008 financial crisis, according to Jefferies Financial Group Inc.
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SINGAPORE (Apr 8): The Tangs are a classic Singapore power couple.

Gordon, a former professional windsurfer and avid sailor, and his wife Celine moved from China in the 1990s, founded trading firm Tang Dynasty and then established a real estate empire.

Their SingHaiyi Group Ltd. invests in commercial and residential properties in the island state and has expanded to the U.S. and Australia. Neil Bush, brother of former U.S. President George W. Bush, is on the board, where Celine serves as group managing director.

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