28 Jul '11, 7am

UOB chairman is the richest individual in Singapore with a fortune of $4.2 billion

SINGAPORE, July 28 (Reuters) - The chairman of United Overseas Bank , Wee Cho Yaw, is the richest individual in Singapore with a fortune of $4.2 billion, an increase of $600 million compared with last year, according to the latest rich list published by Forbes Asia. In March, Wee was ranked 268th on a Forbes list of the world's wealthiest individuals, although that may have changed due to volatile markets. But Wee ranks third on the Singapore list, in which family fortunes were calculated, Forbes said. He comes after the families of the late Ng Teng Fong, a property tycoon, and the late Khoo Teck Puat, who sold a huge stake in Standard Chartered Bank to state investor Temasek. The Ng family remains at the top with $8.9 billion, higher by $1.1 billion than a year earlier. Their two biggest property holdings are privately held Far East Organisation and Hong Kong-listed Tsim ...

Full article: http://www.todayonline.com/Singapore/EDC110728-0000131/UO...

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