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# 453 Philip Ng $4.92B

Random fact: Donated about $100 million to new hospital in memory of his father.


Ng is chief executive of Far East Organization, Singapore's largest closely held developer. It's calculated to have had revenue of $4.5 billion in 2018. He controls Hong Kong-based developer Sino Group with his brother, Robert, and has a stake in Tsim Sha Tsui Properties, a Hong Kong-based developer.

As of :
Last change +$156M ( +3.3%)
YTD change -$1.06B ( -17.8%)
Industry Real Estate
Biggest asset 247 HK Equity
Citizenship Singapore
Age 62
Wealth Inherited
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Philip Ng's net worth of $4.92B can buy ...

troy ounces of gold
barrels of crude oil

... and is equivalent to ...

of the GDP of the United States
of the total wealth of the 500 richest people in the world
of the top 100 U.S. college endowments
of the top 200 U.S. executives’ total awarded compensation
of U.S. existing home sales
times the median U.S. household income

Latest News

Net Worth Summary

Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Ng's wealth is held through Sino Group and Far East Organization, which he controls with his older brother, Robert Ng. Both brothers equally split the wealth of their late father, Ng Teng Fong, being co-executors of his estate, according to filings of companies where they have interests. Based on this, each brother is credited with a 25 percent stake in Far East, while their mother Tan Kim Choo controls the remaining 50 percent, according to the company's 2014 filings with the Singapore Accounting and Corporate Regulatory Authority. Far East is the largest private developer in Singapore, according to the Sino Group website.

The valuation of the closely held property developer is based on the average price-to-earnings of three publicly traded peer companies: CapitaLand, Frasers Properties and Sun Hung Kai Properties. The company reported revenue of S$3.9 billion ($3.1 billion) in 2013 and has not disclosed financial results since then. It's valued using 2018 revenue estimated at $4.5 billion based on the revenue growth rate of the publicly traded peers.

His most valuable publicly traded asset is his 36 percent interest in Tsim Sha Tsui Properties, the Hong Kong-based holding company of developer Sino Land, according to Hong Kong stock exchange filings. His other assets include a 2 percent stake in Sino Land, excluding shares owned by Tsim Sha Tsui Properties. He also has a 24 percent equity in Sino Hotels, which owns part of Conrad Hong Kong.

The value of his cash investments is based on an analysis of dividends, insider transactions, market performance and taxes.

Zoe Wu, a Far East Organization spokeswoman, declined to comment on his net worth.


Birthdate: 1/1/1958
Family: Married, 6 children
Education: Massachusetts Institute of Technology, University of London

Philip Ng is the youngest son of Ng Teng Fong, who founded Far East Organization, the biggest closely held property developer in Singapore, in the 1960s and Sino Group in Hong Kong about a decade later. The late patriarch, who was born in China's southeastern Fujian province before migrating to Singapore when he was six, died in 2010 after suffering a cerebral hemorrhage. He was 82.

Ng obtained a civil engineering degree with first-class honors from King's College, London University, and Master's degrees in geotechnical engineering and city planning from the Massachusetts Institute of Technology. He took over the reins at Far East Organization from his father in the 1990s and reorganized the group's hospitality and healthcare businesses in 2012, when Singapore-listed Orchard Parade Holdings divested three hotels through a listing of a property trust. The trust then acquired several other hotels and serviced residences in Singapore that are owned by Far East Organization.

Orchard Parade bought the parent company's hospitality management business and medical suites. Ng led the makeover of Sentosa when he was chairman of a government-run organization that oversaw the development of the resort island from 2001 to 2007. Sentosa, previously known for its musical fountains and foam parties, is now home to a high-end residential enclave and a casino resort.

Ng and his family donated about $100 million in 2011 to a hospital the government is building in Singapore in memory of their late father. Plans to call it Ng Teng Fong Hospital prompted former member of Parliament Tan Cheng Bock to step down from the board of the hospital as he disagreed with it being named after the late property tycoon. The Ng Teng Fong General Hospital was opened in the middle of 2015.

  • 1960 Father, Ng Teng Fong, sets up Far East Organization in Singapore.
  • 1970 Sino Group is established in Hong Kong by his father.
  • 1981 Developer Sino Land starts trading on the Hong Kong stock exchange.
  • 1991 Ming Court Hotel renamed Orchard Parade Hotel.
  • 1995 Majority stake in Yeo Hiap Seng acquired by Far East Organization.
  • 2005 Sets up Novena Medical Center in first health-care venture.
  • 2010 Father dies at age 82 after suffering a cerebral hemorrhage.
  • 2012 Orchard Parade takes over group's hotel, health-care assets.
  • 2012 Far East Organization lists hotel trust in Singapore.
  • 2016 Far East acquires majority stake in Australia's Vue Group