The Richest Person In Singapore Died

People, Places, Religion 16 Comments

Ng Teng Fong (1928 – 2010) was Singapore’s 11 Billion Dollars Man. The late Teng Fong owns the development companies Far East Organization in Singapore and Sino Group in Hong Kong. His company also controls Singapore-listed food and drinks maker Yeo Hiap Seng (Yeo’s). At the time of his death, Sino Group was one of Hong Kong’s largest real estate developers, and Far East Organization remained one of the largest landholders in Singapore. Far East Organization also owns The Fullerton Singapore and numerous other landmark hotels and other properties. Wake was held at his mansion, his home for the last 40 years, at Watten Estate Road and he was buried in Chua Chu Kang Christian Cemetery.

Forbes Asia magazine in 2009 listed Ng Teng Fong as the richest person in Singapore, with a net worth of more than US$8 billion (SG$11.2 billion). Mr. Ng was born in 1928 in China’s Fujian province, which was the birthplace of many emigrants who later became highly successful businesspeople in Southeast Asia. His first business was a provision shop, however that venture failed. But he began to have great success and got the nickname “Lucky Ng” in property development. He established his first Singapore private housing project (Serangoon Gardens) in 1962 and later developed many properties along and near Orchard Road, including the famous Lucky Plaza, Far East Plaza, Far East Shopping Centre and Far East Square.

He developed more than 700 hotels, commercial malls and private condominiums in Singapore and Hong Kong. His company also controls Singapore-listed food and drinks maker Yeo Hiap Seng, and his best known properties in Singapore include The Fullerton and Orchard Parade Hotel.

Despite his wealth, he led a frugal and un-ostentatious lifestyle. He was known to even bring his own lunch to work. Interestingly, he own a string of Roll Royce Motor Cars!

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