Singapore's investigation of the officials comes weeks after the city-state's police said they were boosting efforts to tackle soccer corruption, following allegations from international investigators that a global crime ring was fixing hundreds of soccer matches out of its base in Singapore.

WSJ: Singapore Investigates Officials in AFC Match

Where Thai and Indonesian firms might have once considered listing in Hong Kong, they are now attracted by the growing base of fund managers in Singapore (drawn there by the easy living and efficiency of the city, a far cry from Hong Kong's pollution and crowding).

ECONOMIST: Clouds over Hong Kong

All of the leading 4A ad agencies base their APAC headquarters in Singapore.

FORBES: Why Yahoo! Should Move To Singapore

The heftier equity base has also helped it acquire Chase Manhattan's credit-card business in Singapore.

CNN: The Asiaweek Financial 500

The quest for an instant market base on which to build motivates buyouts of consumer banking businesses like Chase's credit-card operation in Singapore.

CNN: The Asiaweek Financial 500