According to a report by Lianhe Zaobao, the Monetary Authority of Singapore has initiated an investigation into the local family office DW Capital Holdings associated with the 'Prince Group'. It is reported that this institution was founded by the leader of the 'Prince Group', Chen Zhi, in 2018, with assets under management exceeding 60 million Singapore dollars, and it claims to meet the criteria of the Monetary Authority of Singapore's 13X program, thus enjoying tax exemptions. Data shows that the number of single family offices in Singapore granted tax incentives by the Monetary Authority increased from 1,400 at the end of 2023 to over 2,000 by the end of 2024, a growth rate of 42.9%.