Feb 2, 2010

of singapore property tycoon ng teng fong dies

Singapore property tycoon Ng Teng Fong dies: Singapore billionaire Ng Teng Fong has passed away. He leaves behind his wife and eight children. He was 82.

The wake for Mr Ng will be held from Tuesday evening at Ng's Mansion, 2 Watten Estate. The funeral will take place on Saturday.

Ng Teng Fong came in at 87th in Forbes' World Billionaires last year.
[photo via]
Singapore billionaire property tycoon and Far East Organization chairman Ng Teng Fong, 82, died on Tuesday morning.

Far East Organization said in a statement that Mr Ng suffered brain haemorrhage on January 23. He was taken to hospital where he underwent an operation.

Mr Ng was ranked Singapore's richest man by Forbes magazine last year. His family's net worth was estimated at US$8 billion in 2009. He was said to have made his fortune on the property market, and owned at least a quarter of Singapore's private housing market. Mr Ng set up Far East Organization in 1960 and by the 1980s, he was known as the "King of Orchard Road".

The company had its beginnings in residential developments. Watten Estate, in the prime Bukit Timah residential area where Mr Ng lived, was one of its earliest projects. Over the years, the property giant developed over 700 malls, condominiums and hotels in Singapore and Hong Kong, including Singapore's Fullerton Hotel. The family also owns Hong Kong's Sino Group and is also one of Hong Kong's largest real estate developers.

Mr Ng was born in 1928 in Putien in China's Fujian province, and came to Singapore when he was six. Mr Ng was known for his frugal lifestyle, and till his death, still lived in his Watten Estate home of 30 years.

Mr Ng leaves behind his wife and eight children. His younger son Philip runs the Singapore business, while older son Robert is in charge of the Hong Kong one.
Other links:
- Singapore’s Richest Man Ng Teng Fong Dies at 82
- Tycoon Ng Teng Fong dies
- Ng Teng Fong & family


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