It has been quietly combined in Singapore over the past decade over the past decade, Dinmokhamt Idrisov, a lack of Kazakh, has created its wealth from the oil and industrial boom in Kazakhstan in the 1990s, to the structure of complex assets in Singapore over the past decade.
Through a network of companies that are largely run by family members and reliable partners, IDRISOV has photographed a secret platform, but it is important. This structure is not only easy for international investments, but also raises urgent questions about compliance with the increasingly strict Kazakhstan legislation on foreign unannounced foreign assets.
Singapore Network
In the middle Marine property study IS Dragon Fortune PTE LTD, a double entity in Singapore established in 2013, which works as a family office by reality. Originally 100 % owned by IDRISOV himself, control was officially transferred in 2018 to his son, Zharmukhamd App
Dragon Fortune, according to the files of companies and secret interviews conducted to track the assets that depend on litigation, owns $ 172.6 million in paid-up capital-an amount of typical family offices in the case of the city. Its well -known investments include a 25 % share in the Six Senses Kaplankaya Hotel on the Mediterranean coast in Türkiye, along with other non -transparent projects. Despite the capital, the company’s external activity remains minimal, which leads to watching it as a dome more than an active investment vehicle.
Dragon Fortune also controls Kaplankaya Holdings PTE LTD, management of the Turkish resort’s share, and Dragon Fortune Management PTE LTD, another holding company registered in the prestigious One Raffles Place in Singapore. Additional diversification came in 2022 with the creation of Dragon Fortune Logistics PTE LTD and Dragon Fortune Digital PTE LTD, although no major trade activity appeared from the beginning.
The family office complements is A-Pacific Trade PTE LTD, an entity that was initially renamed initially incorporated as the Ordabasy Investments PTE LTD. Fully owned by Erdsov’s husband, Magda Idrisova, and directed by Shingasmitovs, the entity that serves as an additional owner. Madakhmetov, a former executive in Kazmunaygas, is a major agent in Idrisov The network is connected to at least six Singapore companies linked to the family.
The purpose of the attractiveness of Singapore
Multiple sources near the Kazakhstan elite confirm that Idrisov’s choice of Singapore is not accidental. Singapore offers a stable jurisdiction to protect assets, and is considered as a political geographic, and is of importance, benefiting from the traditions of strong banking secrecy, despite the tightening of the recent transparency standards.
Interviews with the former employees of both the Ordabasy Group – the Kazakht Kazakhti conveys in Idrisov – and that Dragon Fortune reveals that the Singapore process is a lower organization to expand international business and more to maintain wealth and deploy capital. “It is not a commercial center, it is a parking lot,” commented, one of the former senior managers, referring to the Singapore structures.
The support of this hypothesis is the credit of $ 5.1 million, which was extended to the Dragon Fortune by Kazakstan Utility Systems, a subsidiary of the Ordabasy Group, which raised the eyebrows. The loan, which carries a generous benefit of 2 %, was quietly lengthy times until it matured in 2022, which enhances the capital doubts within the group.
Real estate and silent property
The Idrisov family also maintains exclusive residential addresses on Sentosa Island in Singapore, especially at 3 Paradise Island and 14 Treasure Island. While public records show that these properties are officially owned by the citizens of the unrelated Singaporean, the registration of the family in these addresses indicates that the long-term rental contracts or the arrangements of the candidates-a common practice among foreign individuals who seek appreciation.
Moreover, IDRISOV companies show the effects of nominal feet in other sectors. Motus Capital PTE LTD, directed by Madakhmetov, participated in the prominent import of rubber gloves from Thailand to Kazakhstan, while the investment that has now ended in the Israeli media Mobli Media is sometimes explained in technology-and if it is not a winner.
Kazakhstan tightening legal
During the reign of President Casem Gomart Tukayev, Kazakhstan has reshaped its approach to foreign origin. In the aftermath of the political turmoil in January 2022, the government presented a wave of legislation designed to restore unannounced external wealth. It is worth noting that the law, upon the return of the assets that have been withdrawn illegally, requires the citizens of Kazakhs to disclose the external assets that exceed one million US dollars, at the threat of the seizure.
The IDRISOV wallet will be located in Singapore-especially given the size of the paid-up capital and relevant transactions across the border-directly in the law transformer. However, enforcement is still incomplete, complicated by the permanent Kazakhstan care networks and the constituencies of the nominees in the judicial states such as Singapore.
The note of legal experts that were consulted by FT is that if the Fortune Dragon structures are officially reported to the Asset Return Committee in Kazakhstan, it is possible that the base of assets will raise red compliance flags, especially given the relevant party lending that involves Kazakhstan interest systems.
Defense restructuring?
Observers suggest that the restructuring of the assets of Idrisov abroad-in particular the transfer of ownership to his son-reflects a preventive legal defense against attempts to recover assets or future local political pressure. Similar patterns appeared between the generation of the oldest few in Kazakhstan, who have increasingly transferred ownership shares to children or agents.
Currently, there is no general record of the Kazakh authorities in the start of the procedures for recovering assets against Singapore structures in Idrisov. However, regional analysts argue that the political wind in Nour Al -Sultan may not remain favorable to an indefinite time. “If Kazakhstan is really following the restoration of external assets, Dragon Fortune will be one of the first places they look at,” said a former government official.
Where it stands today
As of early 2025, Dragon Fortune and relevant entities remain active, albeit with a decrease in general commercial activity. Whether they continue to work as negative vehicles to preserve wealth or will be attracted to legal disputes under the new organizational environment for the new Kazakhstan. For Idrisov and his family, the Singapore strategy may have bought time – but in the new geopolitical and legal scene in Central Asia, the time may not be the safest assets.
The post A Family Office and Kazakhstan’s Changing Asset Rules first appeared on Investorempires.com.
