Ng Teng Fong, billionaire property tycoon, dies
SINGAPORE - Billionaire Ng Teng Fong, Singapore's richest man, died Tuesday after suffering a cerebral hemorrhage on Jan. 23, Far East Organization, the company he founded, said in a statement. He was 82.
Ng started Far East, Singapore's largest private property developer, in the 1960s, and Sino Group, parent of Hong Kong-listed Sino Land Co.
The two companies have revenue of $5.5 billion and hold assets of $40 billion, including 4,727 hotel rooms on 12 properties, according to Far East's Web site.
Forbes Asia listed Ng as Singapore's wealthiest man in 2009 with holdings of $8 billion.
Ng was born in 1928 in China's southeastern Fujian province as the eldest of 11 children. His family immigrated to Singapore when he was 6 and started a dried goods store in the city-state's Jelan Besar area.
As an adult, Ng struck out on his own building and selling houses, a business that became Far East in the 1960s. He is survived by his wife and eight children.
Top salaries on town, city payrolls ... Record November home prices ... Rocco's Taco's at Walt Whitman Shops ... After 47 years, affordable housing
Top salaries on town, city payrolls ... Record November home prices ... Rocco's Taco's at Walt Whitman Shops ... After 47 years, affordable housing
