29 Aug '13, 4am

S'pore has record number of 21 billionaires: Forbes

SINGAPORE: Singapore now has a record number of 21 billionaires, up from 16 a year ago, according to the latest Forbes Singapore rich list. Robert and Philip Ng, the sons of the late Far East Organization's founder Ng Teng Fong, continued to top the list as Singapore's richest. Their estimated net wealth is US$10.6 billion, up from US$9.2 billion last year. The biggest rise in net wealth this year is that of Kwek Leng Beng, chairman of City Developments, who jumped to the second spot from number six. He has a net worth of US$7.1 billion, up from US$2.4 billion. The Khoo family kept its number three spot, with a net worth of US$6.7 billion, the same as last year. Local entrepreneurs who debuted on Forbes Singapore's rich list include: • Nippon Paint's partner, Goh Cheng Liang, who made it to the number nine spot with a net worth of US$2.1 billion • Ching Chiat Kwong of Oxle...

Full article: http://www.channelnewsasia.com/news/singapore/s-pore-has-...

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