Wu said that according to Bloomberg, the Singapore government has asked family offices to provide more information and stepped up efforts to clean up some inactive companies. People familiar with the matter revealed that since March, the Singapore government has accelerated its pace to tighten various investment mechanisms, with some institutions putting forward additional requirements that need to be met by industry players in the coming months, and stepped up efforts to clean up inactive corporate entities. In March this year, the Monetary Authority of Singapore confirmed that it would abolish the licensing system applicable to hedge funds with assets of no more than US$250 million by August 1, and replace it with a stricter reporting mechanism.