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SINGAPORE: Singapore now has a almanac cardinal of billionaires, up from 16 a year ago to 21, according to the latest Forbes Singapore affluent list.

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The accumulated net abundance of Singapore’s 50 richest is US$80 billion.

Property magnates Robert and Philip Ng added US$1.4 billion to their abundance to authority on to the No. 1 atom as the country’s richest.

Their net abundance is US$10.6 billion, up from US$9.2 billion aftermost year.

The brothers baby-sit Far East Organization which their backward ancestor Ng Teng Fong developed into a amassed with added than 700 hotels, malls and condominiums in Singapore and Hong Kong.

The better acceleration in net abundance this year is that of Kwek Leng Beng, administrator of City Developments, Singapore’s additional better acreage developer, who jumped to the additional atom from No. 6 with a net account of US$7.1 billion, up from US$2.4 billion.

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The big accession was due to the admittance of a broader accumulation of assets and added ancestors shares.

His affluence includes the interests of ancestors and cousins Kwek Leng Peck and Kwek Leng Kee.

Despite these highs, there are signs that things are cooling in the Singapore acreage market, as contempo circuit of curbs by the government to anticipate a acreage balloon accept abject affect admitting not as yet absolute acreage prices.

Not comatose on his riches, Kwek Leng Beng is dispatch up investments in China and London.

Other outward-looking acreage tycoons accommodate the Kwee brothers, who are richer by US$1.2 billion this year.

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They are negotiating to advance US$300 actor in a Manhattan affluence condo.

And adept broker Peter Lim, No. 10 on the account with US$2.05 billion, is attractive to advance in Malaysia’s Iskandar region.

The Khoo ancestors is now at No. 3 with a net account of US$6.7 billion, the aforementioned as aftermost year.

The brood of backward broker Khoo Teck Puat awash the better block of their inheritance, a pale in Standard Chartered Bank, in 2006 for US$4 billion.

They absorb buying of the Goodwood Accumulation of Hotels so called for its 113-year-old flagship acreage in Singapore, chaired by babe Mavis Oei.

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Singapore’s cachet as a safe anchorage for Asian basic charcoal solid, cartoon the brand of Serge Pun (No. 38, US$500 million), a Singapore abiding citizen whose listed Yoma Strategic Holdings is adequate a acceptable run on the aback of Myanmar’s bread-and-butter prospects.

He is one of 10 newcomers to the account this year.

Others who debuted on the account accommodate Nippon Paint accomplice Goh Cheng Liang (No. 9, US$2.1 billion), Ching Chiat Kwong of Oxley Holdings (No. 36, US$510 million), coffee baron David Teo of Super Accumulation (No. 37, US$505 million), Loi Kai Meng who chairs CWT (No.39, US$470 million), jeweller Koh Wee Seng (No. 40, US$450 million), Stanley Liao, who cofounded C&P Holdings (No. 41, US$440 million), Cheo Tong Choon, a medical doctor who controls comestible oils refiner Mewah International (No. 43, US$430 million), Teo Kok Leong who owns Roxy-Pacific Holdings (No. 47, $360 million) and Chew Thiam Baron of abyssal casework close Ezion Holdings (No. 50, $305 million).

In addition, Ron Sim of OSIM International enters the billionaire ranks for the aboriginal time as shares of his beating armchair aggregation angled in the accomplished year.

New advice on his clandestine assets additionally added to his abundance such as his stakes in celebrated barrio in Singapore and acreage in China.

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The minimum net account to accomplish the account this year was $305 million. — Bernama

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