Ng Brothers Retain Top Spot in Forbes 2015 Singapore Rich List

Singapore (PNA/Bernama) — Robert and Philip Ng retained their six-year hold of the top spot in the latest Forbes Singapore Rich List, with a combined net worth of USD 8.7 billion.

The Ng siblings, whose family controls Singapore’s Far East Organization and Hong Kong’s Sino Group, saw their wealth decline amid the property slowdown in Singapore and slowing sales in Hong Kong.

Their collective net worth is USD 92.3 billion, down from USD 96.9 billion a year ago.

Several tycoons in the Singapore rich list have fortunes tied to the troubled real estate industry.

They include Kwek Leng Beng (2), the Khoo family (4), Kwee brothers (7) and Ho Bee Land’s Chua Thian Poh (26).

Kwek retained his number two spot with a net worth of USD 7.2 billion, at number three is paint tycoon Goh Cheng Liang, this year’s biggest gainer, who moved up four spots after his shares in Japan’s Nippon Paint jumped 62 percent in the past year.

He has a net worth of USD 6.9 billion, up USD 3.7 billion from 2014.

Goh’s son, Hup Jin, is Nippon’s Executive Director and also runs privately-held Nippon JV Nipsea, a paint and coatings manufacturer, which has more than 50 factories and a 16,000-strong workforce in 15 countries.

Facebook co-founder and Singapore resident Eduardo Saverin added more than USD 1 billion to his wealth on rising shares of the social media giant.

The newly married Saverin is listed at number six with a net worth of USD 5.4 billion.

Entering the top ten ranks for the first time are Raj Kumar and Kishin RK who have a combined fortune of USD 2.4 billion.

The father and son duo are in the midst of merging their respective property firms Royal Holdings and RB Capital to meet their target of amassing gross assets of USD 8 billion by 2020.

The top 10 richest in Singapore are:

1) Robert & Philip Ng — USD 8.7 billion

2) Kwek Leng Beng — USD 7.2 billion

3) Goh Cheng Liang — USD 6.9 billion

4) Khoo family — USD 6.4 billion

5) Wee Cho Yaw — USD 5.45 billion

6) Eduardo Saverin — USD 5.4 billion

7) Kwee brothers — USD 5.2 billion

8) Richard Chandler — USD 2.6 billion

9) Kuok Khoon Hong — USD 2.55 billion

10) Raj Kumar & Kishin RK — USD 2.4 billion

(PNA/Bernama) JBP/CDN