the BEST option is to get into a vehicle that COMPOUNDS your money, right now $200K is considered a small sum therefore the wealth managers experienced ones) wont really give a hoot about you, after all they are only interested in commissions...
Bank deposits: Compounds your money alright, however local interest rate is way too low...for example 1.5% p.a. you will only get $3K p.a. before any other funny costs and charges...Opening an offshore deposit account in NZ or AUD should net about 3.5% after tax, of course you are open to FX fluctuation risk/gain...
Shares: Not for the faint hearted and does not compound your money, regardless of how high the dividends they pay, lots of risks and uncertainty involve esp for those who are new, higher commission than bank deposits if you are not a remisier/broker...also financial enginnering knowledge needed, esp use of warrants, options, arbitraging etc...
FX: Leverage may be a dirty word for some, but in FX, your gains and losses are paced, therefore if you lose over your limit, the bank can just take your collateral (stop loss). As with most gambling avenues, will you top up your losses an not leave the table?
Bonds/fixed income funds: Capital Returns invertly related to interest rate, IR goes up value of bond goes down and vice versa...no active, liquid or sizable bond market in SG...
Property: Too many restrictions in SG, not easy to get one overseas unless you are on one of the migration paths...again $200K only allows contra and you will be stuck with the bank loan if there are no buyers..Also most illiquid and time consuming if you are not renting it out...
Gold/Oil/commodities: As a hedge against inflation, it is quite obvious current gold prices have formed a bubble, however like FX, quite a safe investment haven as the chances of the gold market disappearing or going bankrupt overnight is very low...traded in contracts in SG...
Setting up your own business: IMHO the most practical, useful and rewarding form of investment...do it yourself do not give relatives friends or relatives your money and never see them or your money again...example due to the increasing geriatric population, it is quite economical to go buy a second hand ambulance to ferry them for appointments at hospitals...a second hand ambulance cost about $20K, no ERP, no road tax, no need to pay parking, insurance(?), runs on diesel, and you can use it as own transport, pte passenger van, goods vehicle etc...if you earn $200 per day that will be 5days times 4 weeks about $4k a month if you drive yourself or if you oay your driver $2K, less expenses, minimally can still make about $800 a month...