Ann: LNC to Seek Listing on the Singapore Exchang, page-68

re: Ann: LNC to Seek Listing on the Singapore... Capital gains
Singapore does not impose tax on capital gains. However, in certain circumstances, the tax authorities may treat gains derived from purchases and sales of real estate or shares as revenue subject to income tax if the taxpayer is in the business of dealing in real estate or shares.

http://www.expat.hsbc.com/1/PA_ES_Content_Mgmt/content/hsbc_expat/pdf/en/global_tax_navigator/going_to_singapore.pdf