PANews reported on October 26th that, according to Lianhe Zaobao, the Monetary Authority of Singapore (MAS) has launched an investigation into whether Prince Group head Tan Chee established a Singaporean company, DW Capital Holdings (DWC), in violation of regulations. In 2018, Tan Chee established DW Capital Holdings (DWC) to manage family office assets, claiming to manage over S$60 million, including S$10 million in car financing, S$30 million in fine wines, and approximately S$20 million in yacht management and other ancillary services. DWC claimed to meet the requirements of the MAS's 13X program, thus enjoying tax exemptions.