More billionaires in Singapore

More billionaires in Singapore
Property magnate Philip Ng.

SINGAPORE - The number of billionaires here is on the rise: There are now 21 of them, five more than last year, according to the latest Forbes Singapore rich list.

The combined net wealth of Singapore's 50 richest is US$80 billion (S$102 billion).

Property magnates Robert and Philip Ng held on to the No 1 spot as the country's richest men, with US$10.6 billion in net wealth, up US$1.4 billion from last year.

The brothers oversee Far East Organisation, owning more than 700 hotels, malls and condominiums in Singapore and Hong Kong today.

In second spot is Mr Kwek Leng Beng, chairman of City Developments, Singapore's second largest property developer. Mr Kwek added US$2.4 billion to his wealth - the biggest rise in net wealth this year - to jump four spots from No 6 a year ago.

The Khoo family, heirs of late banker Mr Khoo Teck Puat, is at No 3 with a net worth of US$6.7 billion, unchanged from last year.

The remaining of Singapore's top 10 richest people are: Mr Wee Cho Yaw (US$5.3b), Kwee Brothers (US$5.2b), Mr Richard Chandler (US$2.8b), Mr Eduardo Saverin (US$2.65b), Mr Kuok Khoon Hong (US$2.2b), Mr Goh Cheng Liang (US$2.1b) and Mr Peter Lim (US$2.05b)

The full list can be found at www.forbes.com/singapore and in the latest issue of Forbes Asia.


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