The rich Tiongs get American citizenship then come to Singapore buy properties no need pay 60% ABSD.
USA citizens are exempted from ABSD in Singapore under FTA.
Under the respective FTAs, Nationals or Permanent Residents of the following countries will be accorded the same Stamp Duty treatment as Singapore Citizens:
- Nationals and Permanent Residents of Iceland, Liechtenstein, Norway or Switzerland
- Nationals of the United States of America