Rinehart may join Tinkler in Singapore

Gina Rinehart's Hancock Prospecting has paid $57.2 million for two luxurious apartments in Singapore, a haven for wealthy investors, including Nathan Tinkler.

Singapore's Business Times reports the complex was designed by Perth-born architect Kerry Hill and Hancock Prospecting is said to be paying close to $23 million for a third floor unit and around $33.9 million for a fourth floor unit.

Rinehart has previously praised Singapore for its low taxes and efforts to attract foreign business.

Last month fellow mining magnate Nathan Tinkler announced a permanent relocation to Singapore in a move he said was aimed at getting closer to Asia's resources markets.

Singapore has the highest percentage of millionaire households in the world, and the tax rate for the highest income bracket levels at 20 per cent, compared to the 45 per cent set in Australia.

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