Super clubs for the super rich

Perks include access to private jet, super cars; clubs drawn here by high proportion of millionaires


WITH 55,000 millionaires in Singapore, there is no shortage of private members' clubs and services offering them the kind of perks only they can afford.

There are already three businesses that are either operating here or have plans in the pipeline.

The latest is an invitation-only offering called the MillionaireAsia Private Jet Card.

For a promotional price of $3,990, those who sign up get the use of a private jet, although the price includes only two free hours of flying per year. Each additional hour costs between US$6,000 (S$9,100) and US$9,000, depending on the type of aircraft.

They also get the use of a fleet of super cars like the Aston Martin DB9 Coupe and Lamborghini Murcielago in selected cities, insurance included.

Other privileges include use of the new luxury terminal at Changi Airport, preferential rental rates to luxury accommodation with a members-only property network, The Registry Collection, and high-end holidays like wine tours in Tuscany, Italy, and Champagne in France, specially created for cardholders.

The card targets 'jetsetters, people who love to fly by private jets and are passionate about super cars', said Mr Brian Yim, 41, publisher and managing editor of MillionaireAsia magazine and the man behind the card.

To be launched here next month, and in other Asian cities in subsequent months, Mr Yim is looking to sign up 200 members in the first year, 50 to 60 of them from Singapore.

According to the first Asia-Pacific Wealth Report published by American investment bank Merrill Lynch and French consultancy Capgemini last year, Singapore has the highest percentage of millionaires among Asian countries.

They make up 1.48 per cent of the adult population here, far above the global average of 0.22 per cent and Asia's average of 0.1 per cent.

The report defines this group as people with net assets of at least $1.5 million, excluding their primary residence.

That is why American Express chose Singapore as the first Southeast Asian country to launch its highly coveted Centurion charge card in 2005.

'There is a concentration of affluent people here, not just locals but global citizens like expatriates,' said Mr Atul Mathur, 51, American Express' senior vice-president and general manager for Asean and South Asia.

Another exclusive members-only service eyeing Singapore's moneyed market is Quintessentially.

The concierge service, which counts celebrities like Madonna and Gwyneth Paltrow among its clients, plans to set up shop in Singapore in the coming months, said Ms Emma Sherrard, managing director of Quintessentially Hong Kong.

The company is headquartered in London.

Card-carrying members can use the service to book private jets and yachts and perform the near-impossible, like getting a table at a perpetually full restaurant or buying tickets to a sold-out concert.

Ms Sherrard, who is in her 30s, said Quintessentially's Hong Kong regional office already looks after a number of members based in Singapore.

'From their interests and activities, we realise that there is a strong demand for a luxury global concierge company,' she said.

Members can expect to pay more than $2,000 per year for a standard membership and as much as $50,000 for the top-tier one, which buys a team of personal account managers at their beck and call.

Such privileged services are not used solely by the rich. Mr Peter Tan, 42, group financial services director representing insurance company Prudential Assurance, is thinking of subscribing to the MillionaireAsia Private Jet Card to reward his agents.

'You can't give watches and cars every year. It's no longer about monetary reward... it's about a lifestyle and I want them to enjoy it,' he said.