Singapore’s 40 richest are now apparently worth a collective total of US$54.4 billion based on a Straits Times report that cites the rich list published by Forbes Asia. It somehow shows that the wealthy have managed to increased their networth despite a turbulent economy and a very weak stock market.
At the top of the list with US$8.9billion is the family of the late Ng Teng Fong. This was up by US$1.1 billion. Their wealth is tied closely to their 2 largest property holdings – Far East Organisation and another Hong Kong listed property firm.
Second on the list is family of the late Khoo Teck Puat at US$6.7 billion. They are invested in Goodwood Park Hotel.
There were also newcomers to the billionaire list.