The chairman of palm oil giant Wilmar International and one of the company’s shareholders have joined the ranks of Singapore billionaires, Forbes said yesterday.
The addition of Kuok Khoon Hong and Peter Lim brings to seven the number of billionaires in the city-state, a list published by Forbes Asia magazine showed.
Kuok, 59, is the chairman and chief executive officer of Wilmar International while Lim is a shareholder in the firm, Forbes said in a statement.
It said Kuok, nephew of Malaysian tycoon Robert Kuok, has a net worth of US$1.3 billion.
Lim, 55, son of a fishmonger, provided seed money to Wilmar and was worth US$1.1 billion, Forbes said.
Property magnate Ng Teng Fong, 80, and his family remained Singapore’s richest, worth US$7 billion, it said.
The family control the privately-owned Far East Organization and have a 72 percent stake in Hong Kong-listed Tsim Sha Tsui Properties, it said.
The Khoo family stayed Singapore’s second-richest, with net worth of US$6.1 billion, the magazine said.
In 2006 the family sold the stake held in Britain’s Standard Chartered Bank by their late father, Khoo Teck Puat. They still control the Goodwood Group of Hotels, Forbes said.
Banker Wee Cho Yaw and his family held on to third position, worth US$3.6 billion. Wee is the chairman of United Overseas Bank.
Forbes said the combined net worth of Singapore’s 40 richest people was unchanged at US$32 billion in the annual ranking.
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