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Singapore's top 40 richest see net worth increase 17% to US$45.7b
By Mok Fei Fei | Posted: 29 July 2010 1427 hrs

 
 
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SINGAPORE: Singapore's wealthiest families and individuals have gotten richer, with the top 40 here seeing their net worth rise by 17 per cent to US$45.7 billion.

Topping the Forbes list of Singapore's richest once again is the family of the late real estate mogul Ng Teng Fong, with a net worth of US$7.8 billion.

Mr Ng, owner of Far East Organisation, died in February this year after suffering a cerebral haemorrhage,

Their wealth declined from last year's US$8 billion as their stake in Hong Kong developer Tsim Sha Tsui Properties fell by 18 per cent on-year.

Staying put at number two is the owner of the Goodwood Group of Hotels, the Khoo family, with US$5.9 billion, up from US$5.5 billion.

UOB banker Wee Cho Yaw came in third with US$3.6 billion, up from last year's fifth position.

He's among the biggest gainers as he added US$500 million to his wealth.

Dropping a notch to number four is commodities firm Wilmar's boss Kuok Khoon Hong, whose net worth remained flat at US$3.5 billion.

A new name to the list is New Zealand-born social entrepreneur Richard Chandler, a Singapore resident since 2008 who heads a fund.

He debuts at number five with US$3.4 billion.

Also notable are first-time billionaires Ong Beng Seng and Christina Ong, who are ranked number 11 with a combined wealth of US$1 billion, up from US$700 million last year.

Forbes compiled the list of public net worth using share prices and exchange rates and for privately held wealth it estimated what it would be worth if public.

- CNA/jm

 


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