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Ng Teng Fong’s billionaire sons suddenly missing from list of richest Singaporeans

The Independent SG logo The Independent SG 1/4/2023 Jewel Stolarchuk
© The Independent Singapore © The Independent Singapore

SINGAPORE: Billionaire brothers Robert and Phillip Ng have been absent from CEOWORLD’s daily ranking of the richest Singaporeans, for an entire month. The brothers were last seen on the site on 28 Feb, holding on to the second spot after Mindray Medical CEO Li Xiting.

Prominent figures in the business world, Robert and Phillip Ng are the sons of the late Ng Teng Fong, a pioneer in Singapore’s property development industry who founded Far East Organization in 1960.

One of the largest private property developers in Singapore, with a portfolio of properties that includes some of the city-state’s most iconic buildings and landmarks, Far East Organization is today run by the Ng brothers.

Robert Ng serves as chairman of Far East and it’s sister group, Hong Kong-based conglomerate Sino Group that has interests in property, hospitality, and other businesses.

Phillip Ng is the CEO of Far East Organization and also serves as the chairman of Frasers Property, a global real estate company that operates in over 80 cities worldwide.

Together, the brothers are among the richest people in Singapore, with a combined net worth of US$15.3 billion or S$20.5 billion, according to CEOWORLD as of 28 Feb.

But curiously, that was also the last time the brothers appeared on the business e-publication’s daily rankings. In the whole month of March, the Ng brothers were conspicuously absent from CEOWORLD’s list of Singapore’s wealthiest people.

Their number two spot was taken by Goh Cheng Liang, a major stakeholder in Japan’s Nippon Paint Holdings, the fourth-biggest paint manufacturer in the world today. Mr Goh has occupied the same position in CEOWORLD’s daily rankings from the beginning to end of last month.

The Independent Singapore has written to CEOWORLD for comment.

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