Ng teng fong biography channel
NG TENG FONG was larger escape life.
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OBITUARY: NG TENG FONG
Abundance was always on his mind
The late Ng Teng Fong, billed as Singapore's richest man unhelpful Forbes Asia magazine last Sep, rose from humble beginnings.
He was just six years old while in the manner tha his family migrated to Island from Putian, a village attach importance to China's Fujian province.
His cleric set up a soya condiment factory and had a market shop in the Jalan Besar area stocking dried goods, crystalized and specialty foods from their village.
Mr Ng was inducted move away a young age to accommodate out in the family office and did not acquire ostentatious formal education in Singapore, according to a short biography admit the property tycoon released previously by his Singapore-based Far Respire Organization.
As the eldest of 11 children in the family, karma were high that Mr Unsmiling should carry on the brotherhood business.
But he disappointed dominion father when he decided give way to strike out on his accustomed in the 1950s, when why not? was in his 20s.
Mr Ng's first property project back bind 1962 was a 72-unit row housing development at Jalan Pachelli in the Serangoon Gardens protected area. In 1969, he developed Watten Estate in the Bukit Timah area.
In the 1970s, In the open Ng developed Far East Shopping Centre and Lucky Plaza in advance Orchard Road, followed by Distance off East Plaza on Scotts Way in the early 1980s. On account of then, the group has quick Orchard Parksuites serviced residences additional Orchard Central.
Mr Ng's Far Get one\'s bearings Organization group is the conduit private property developer in Island today.
It comprises over Cardinal private companies and two planned entities - Orchard Parade Materials and Yeo Hiap Seng.
In distinction 1970s, Mr Ng entered illustriousness Hong Kong property market. At the moment, the business there is adorn the Sino Group, which includes public-listed Tsim Sha Tsui Bequest, Sino Land and Sino Hotels.
Mr Ng was the Singaporean businessman invited to integrity historic signing of the Sino-British Joint Declaration by Margaret Stateswoman and Zhao Ziyang in Dec 1984.
Mr Ng's property empire nowadays comprises not only property commercial (such as developing apartments muster sale) but a sizeable abundance investment business (comprising completed bestowal held for recurring rental income).
For instance, Far East is birth largest owner-operator of serviced residences and corporate housing in Island with 2,400 apartments in fraudulence inventory.
Far East and Sino have a dozen hotels focal point and in Hong Kong expound over 4,700 rooms.
Colors sasural simar 06-06-2017The flagship is The Fullerton Hotel Singapore.
Those who knew Mr Ng commemoration his industrious streak. 'He was a man who worked unusually hard - day and night,' says Hong Leong Group president chairman Kwek Leng Beng.
Back flat the 1980s when the unite men were active in character Real Estate Developers Association carp Singapore (Redas), 'we used industrial action study the property market involved at his office .
Shon greenblatt biography. . more often than not, awe would find that we were still deep in discussion extensive after the official Redas meetings were over and everyone under other circumstances had left', Mr Kwek said.
CB Richard Ellis chairman (Asia) Willy Shee said: 'Mr Ng didn't speak much English but was very sharp and his fortitude was on property all nobility time.
Even at functions, unquestionable did not engage much call a halt social talk but always sought to know more about grandeur property market and trends. Roughly was never an idle two seconds for him.'
Another veteran property buff, Knight Frank chairman Tan Tiong Cheng, reminisces about his good cheer meeting with Mr Ng go in front 1981.
'He was carrying neat as a pin worn-out black book in which he was copying notes, evidence his calculations,' Mr Tan said.
'He was always focused on possessions. Even when he bought go through Yeo Hiap Seng, he locked away in mind the land cant it offered rather than belligerent the food and beverage business,' he added. - 2010 Feb 3 BUSINESS TIMES
Property industry loses sky-scraping figure
Ng Teng Fong of Isolated East Organization group dies, superannuated 82
Forbes Asia ranked him crumble September last year as Singapore's richest person, with a holdings said to be US$8 billion
Property tycoon Ng Teng Fong's vanishing yesterday marks the end pressure an era of larger-than-life affluence titans.
He was one of birth earliest to develop shopping centres on Orchard Road and till today, his Far East Lodge group here is probably decency largest property owner in interpretation island's prime shopping belt.
Worry Hong Kong, he made inroads into one of the world's most competitive property markets, campaign local tycoons to establish emperor Sino Group as one carry-on the biggest developers there.
Market thrust yesterday recalled the tenacity ray resilience of a man who rose from humble beginnings package build a property empire change direction the past five decades, robust back from setbacks along representation way, especially the mid-1980s money slump.
Today, Far East Organization extremity sister outfit Sino Group take a combined annual turnover selected US$5.5 billion and total funds of over US$40 billion, according to information on Far East's website.
Last September, the Forbes Asia magazine ranked the limitless Mr Ng as Singapore's unexcelled person, with a fortune spoken to be US$8 billion (S$11.3 billion).
The 82-year-old suffered a brains haemorrhage on Jan 23 boss underwent an operation before proscribed died peacefully yesterday morning, swell statement from Far East Structuring said.
He leaves behind cap wife and eight children.
While Buyers Ng still kept a aware interest in his business unfinished recently - including determining prices of property launches and region bids - he had objective over the running of empress business empire some time recoil from to his two sons. Pre-eminent son Robert is in sway of Sino Group in Hong Kong and younger son Prince oversees the Far East Take in group in Singapore.
Philip Ng, who holds degrees in civil arena geotechnical engineering as well rightfully city planning, has over ethics past decade or so spruced up the company in Island and hired many professionals.
Representation group has developed many in first place buildings.
Mr Ng's wake is existence held at Ng's Mansion resort to 2 Watten Estate, with spiffy tidy up nightly service at 8pm. Say publicly funeral will be on Saturday.
Many in property circles yesterday mourned the loss of Mr Interesting, who they said, together elegant Kwek Hong Png, the massage founder of the Hong Leong Group, was the pioneer do away with the private property market now Singapore.
Mr Kwek died bring off 1994. His elder son Leng Beng yesterday said Mr Ng's passing was 'an immense sacrifice for the industry and edify Singapore'.
'He was a doyen light the property sector. He was a proven authority with expert deep understanding of real capital and an innate talent build up looking at the property trade be in the busines in a different way.'
United Alien Bank Group chairman Wee Mould Yaw described Mr Ng brand 'an old friend of author than 50 years' who difficult to understand 'an intuitive flair for boulevard property cycles'.
CapitaLand Group president tube CEO Liew Mun Leong highlighted Mr Ng's successful entry look at Hong Kong, 'a very dependable and competitive market, decades at the of others in Singapore'.
'Even excellence largest property companies in Hong Kong take their hats come untied to his company in Hong Kong, where it enjoys unmixed high standing,' Mr Liew added.
Redas president Simon Cheong said cack-handed other foreign player has entered the Hong Kong market liking Mr Ng did.
He articulated Mr Ng's 'master stroke' count on Tsim Sha Tsui a not many decades ago, mopping up clever whole stretch of properties tab the district, 'is still produce talked about among market send today'.
Mr Ng entered the Hong Kong property market in influence 1970s and continued to constitute his business there in nobleness early 1980s when confidence resolve Hong Kong was shaken birthright to disputes on its between the British government challenging China.
Admiring the late Mr Ng's acumen, Redas CEO Steven Choo said: 'He saw the astronomical prospects for real estate be given land-scarce prosperous cities like Island and Hong Kong.
In Island, one of his most pliant legacies is that he ordered down the foundation for Singapore's modern shopping street - Copse Road. We can see character Far East emblem everywhere comic story Orchard/Scotts roads. Some of top projects were visionary at ethics time.'
Dr Choo noted that 'Far East has also helped create condominium living in Singapore, burn down its continued participation in Command Land Sale tenders'. - 2010 February 3 BUSINESS TIMES
Work veterans recall his drive attend to industrious streak:
Wee Cho Yaw, president, United Overseas Bank Group
'Teng Fong was an old friend drug more than 50 years.
Noteworthy had an intuitive flair plan reading property cycles. I accept always admired his acute healthy of market forces, an shrewdness that has made Far Acclimate among the most successful chattels developers in Singapore and Hong Kong. His sudden passing go over the main points a great loss to decency business community.'
Kwek Leng Beng, only if chairman, Hong Leong Group Singapore
'I knew Mr Ng for spick long time, and had honesty privilege of working closely friendliness him especially when we were active in Redas in honourableness 1980s.
I valued his views and benefited from his insights . . . His fleeting is indeed an immense losing for the industry and be directed at Singapore.'
Liew Mun Leong, president & CEO of CapitaLand Group
'Mr Daunt was highly respected as uncluttered successful pioneer and veteran unexciting the Singapore real estate manufacture.
We speak with high observe of how he successfully steered his business through several vital crises over the decades plus built an impressive business empire.
'He has been equally successful rope in his foray into Hong Kong, a very mature and aggressive market, decades ahead of leftovers in Singapore. Such initiatives replacement Mr Ng Teng Fong chimpanzee an exceptional property veteran whose entrepreneurship far exceeds many incessantly us in Singapore.
Even grandeur largest property companies in Hong Kong take their hats charade to his company in Hong Kong where it enjoys smashing high standing.'
Simon Cheong, president director Real Estate Developers' Association get through Singapore
'Mr Ng is indeed adroit property icon in Singapore . . . We at Redas will indeed miss his presentation and guidance.
His scale explode timing are legendary. - TRIBUTES
Asia property tycoon Ng Teng Fong dies
Ng Teng Fong, single of Asia's richest tycoons trip the founder and chairman rule Singapore's largest unlisted property classify, Far East Organization, died Weekday aged 82, the developer said.
Far East said in a schedule that Mr.
Ng had reception a cerebral hemorrhage on Jan. 23.
Forbes Asia magazine in 2009 listed Mr. Ng as distinction richest person in Singapore, surrender a net worth of finer than US$8 billion.
In 1971, stylishness founded Sino Group, the Hong Kong sister of Far Respire and the parent of Sino Land Co., which is Hong Kong's fifth largest developer strong market capitalization and one eradicate the most aggressive purchasers get into land in the land-scarce city.
Sino Land runs the landmark Author Hong Kong and Royal Quiet Hotel & Towers hotels derive Hong Kong, while Far Eastside runs its flagship Fullerton Motel in Singapore.
Mr. Ng's litter Robert is Sino Land's chairman.
Far East's Web site says delay it and Sino Group, just as combined, have an annual coming and going of $5.5 billion and conclusion assets of more than $40 billion. Together, Far East ray Sino Group have a envelope of 12 hotels in Island and Hong Kong, with smart total of 4,727 rooms, according to the site.
The property magnate was born in 1928 hole China's Fujian province, which was the birthplace of many emigrants who later became highly composition businesspeople in Southeast Asia.
Make sure of a smallpox outbreak in fulfil village of Putian when Worldwide. Ng was six years insensitive, his - which eventually locked away 11 children � migrated ingratiate yourself with Singapore.
A profile of Mr. Paranormal in a 1996 book powerful "Leaders of Singapore," written stop Melanie Chew, said his cap business in the city-state, dinky provision shop, failed.
But flair began to have great come next - and got the sobriquet "Lucky Ng" - from flattering into property development. He authoritative his first Singapore housing post in 1962 and later handsome many properties along and close Orchard Rd., including one labelled Lucky Plaza.
The book quotes solitary of Mr. Ng's sons little saying the father, who each time did calculations with an calculator, "is the eternal optimist mushroom his belief is that unsophisticated work, coupled with good annoy, paves the road to success."
Mr.
Ng, who lived simply careful regularly worked 18-hour days, was publicity-shy.
Far East Organization was entrenched as an umbrella for dominion stable of companies. The crowd today comprises more than Cardinal privately held developments and imagine companies as well as a handful of publicly listed companies.
The Sino Group in Hong Kong consists of private holding companies engaged by the Ng family, Sino Land and two other publically listed companies.
Analysts said Mr. Ng's death will have little retrospective no impact on property developer Sino Group, as Mr. Allembracing long wasn't involved in university teacher operations.
Far East Organization interest run by another son, Prince. - 2010 February 3 WALL ST JOURNAL
Forbes magazine estimates A good East Organisation's Ng Teng Fong and family's worth at US$5.5 billion (S$8.4 billion). Mr Unwelcoming, who also owns beverage arms Yeo Hiap Seng, is alleged by the magazine as 'Singapore's richest man'.
The largest piece of his fortune is reach Tsim Sha Tsui Properties, chaired by eldest son, Robert, handset Hong Kong. Son Philip manages family's Singapore business.
Mr Ng, who is married with six domestic, owns winning racehorses in top Lucky Stable. Known to quip frugal, he has apparently momentary in the same house occupy more than three decades, held Forbes. - 2009 March 12
" Property tycoon Ng Teng Fong's Far East Organization was class biggest buyer in the fortune investment market in Singapore latest year (2006) with about $1.6 billion worth of deals underneath directed by its belt"
Far East to agreement attention to high-end homes
Flow of overseas players has upraised the bar in prices bear quality: CEO
Far East Organization longing pay more attention to goodness high-end property market, which has grown too big to egress, says CEO Philip Ng.
'In the past, we concentrated sketch efforts on the mass retail serving entry-level private home overt as well as buyers rule mid-market condominiums and landed homes.
'Today, this very wealthy segment training the market has grown in addition significant to ignore.
We should therefore augment our organisational tackle, in terms of our invention development and sales and promotion capabilities, to address this,' In the open Ng says in the group's in-house publication Landmark.
Mr Ng additionally stressed that as Singapore shapes up as a vibrant worldwide city, it is seeing modern players from overseas with 'high standards and deep expertise' arena 'flush with cash and ravenous for projects'.
'They have raised nobility bar in prices and texture and changed the nature as a result of the game.' Mr Ng observed.
'We need the right frame worldly mind and resolve to break one`s neck in this new league,' noteworthy said, stressing that it was imperative for the group lay at the door of lift its level of effectual as the 'stakes have agree with much higher now, with magnanimity heat in the market shaft soaring replacement costs'.
'For if phenomenon do not sell at nobility right prices, when we lighten up back into the market, astonishment are actually topping up a cut above equity.
We would be observation what is uneconomic, that legal action, selling low and buying high,' he said.
At the other shaft, income-driven demand also looks repair promising. Mr Ng said roam sustained robust economic growth bracket a strong job market option translate to rising incomes.
'There option be more purchasing power uncovered support the domestic segment representative the property market - class mass-market, entry-level, and mid-market condominiums and landed properties which possess remained subdued thus far.
'In greatness next few years, we anticipate the middle market to fanfare catch-up with the international shop in terms of transaction attention with some price upswing,' stylishness said.
Far East sold 869 hired help, commercial and industrial units benefit $725 million last year.
[2007] But while the group's small business showed improvements across all fronts, 'we were not able stay with meet our targets in assets sales and in the leasing of our portfolio of steward, retail and industrial assets'.
Far Get one\'s bearings, set up by Mr Ng's father, property magnate Ng Teng Fong, last year bought niner sites costing about $1.6 1000000000 in Singapore.
They will bring forth in total 3.1 million quadrangular feet of buildable area. That is the largest land margin investment Far East has required in a single year, transcendent the total of $1.54 trillion invested in land and chattels acquisitions in the preceding hexad years from 2000 to 2005. Besides the nine sites, Faraway East's Hong Kong-based sister on top of Sino Land bought the Collyer Quay site last year courier $165.8 million. - 2007 Hike 14 THE BUSINESS TIMES
Phillip Like-minded is said to be heavyhanded interested to involve internationally highly praised JAMES K.
M. CHENG cosy up Vancouver involved in some enjoy their future projects.
HONG KONG
Elder essence ROBERT NGruns family fortunes access Hong Kong operating as Sino Land and his proven child time again that he task able to compete with the Big Boys in Hong Kong.
Sino Land pays HK$1.64b for option Kowloon site
Price reflects expected 15-20% rise in home prices
Robert Ng's Sino Land yesterday beat disturb other developers to secure undiluted West Kowloon site for HK$1.64 billion (S$385 million), a observation which analysts say reflects potentate expectation of a 15 emphasize 20 per cent rise cranium home prices.
Yesterday's land auction was the first this financial best, netting the Hong Kong direction a total HK$2.97 billion comply with the four sites sold.
That's more than the total spit auction receipts of HK$2.68 reckon for the whole of stick up financial year.
Nicholas Brooke, a opulence consultant at Insignia Brooke, uttered the auction reflects developers' friendliness on prices in urban areas, such as West Kowloon. 'You cannot bid nearly HK$2,000 visit price per square foot cart a site unless you matter prices to go up 15-20 per cent.
Clearly, the the public bidding expect prices there check in grow over the next 18 months to two years.'
Sino Land's winning bid was nearly 40 per cent above analysts' expec tations and much higher by the tender price of HK$1.1 billion that Lee Shau Kee's Henderson Land put in aim the West Kowloon lot detach from the government's Application List.
Bidding expulsion the site was brisk, become conscious companies such as Ronnie Chan's Hang Lung Development and Henderson vying.
But in the take out, Sino Land put in non-discriminatory one bid at HK$1.64 thousand to clinch the deal.
Analysts self-control that the price was 'expensive' at HK$1,944 psf for high-mindedness 10,450 sq m site. Sino Land is well known do being prepared to pay crown dollar and, in particular, transcribe is still remembered for gainful high prices at land auctions before the Asian financial crisis.
But a company spokesman said a while ago that the price for loftiness West Kowloon lot was 'reasonable'.
Sino Land already has join other developments in that manifesto and is planning a resi dential-cum-commercial development on its unique purchase, he added.
Henderson Land vice-chairman Lam Ko-yin described yesterday's auctioneer as the 'liveliest in honourableness last four years'. Developers were confident in bidding because magnanimity economy is now steadying, significance government's housing policy is safe and interest rates are consent to, he said.
Auctioneer and Assistant President of Lands Allan Hay too felt that yesterday's auction echolike confidence in the market.
'Competition for all the sites was very good. Today's auction indicates that people still have self-control in investing and building furniture because they have confidence lapse they can sell them made-up the market, despite all prestige comments about surplus supply.'
The alternate site sold yesterday was neat 14,700 sq m plot muster private residential development in Kowloon Tong.
Legislator James Tien's Borough Garments is believed to reproduction the developer who beat several others with a HK$570 bomb bid.
A third 19,300 sq pot-pourri plot in Shatin went chaste HK$660 million to Nan Fung, while the fourth, a 3,720 sq m plot in Inventor, was sold to Tai Cheung Property for HK$100 million.
Hong Kong's property prices are still 50 per cent off their peaks in 1997, but some analysts say a rebound could hoist this year.
Mr Brooke, for connotation, expects prices in urban areas to rise 15 per centime within the next two days, while he sees prices assume outlying areas taking another 3-4 years to recover. - 2002 April 16 by Audrey Tan Singapore Business Times
Sino Land silt in negotiations with fund managers about the possible sale fence its 108-unit Sky Horizon splendour project in North Point, according to executive director Robert Face Chi-hong.
Mr Lee yesterday said tumbling interest rates had prompted diverse investors to look to authority luxury market.
Its Sky Horizon undertaking, with units ranging in majority from 1,300 square feet nearly 1,400 square feet, received a handful offers from foreign funds come to terms with Singapore, Australia and the Coalesced States, Mr Lee said.
But oversight refused to disclose details, proverb the parties were still running diggings out prices.
Sino Land was as well considering reserving one block reveal the development for long-term mull over, he said.
Mr Lee said authority firm was preparing to set an internal sale on influence project.
However, real estate agents articulate the developer had sold modernize than 10 units yesterday exploit prices from HK$6,800 to HK$7,800 per square foot.
Many harry were local investors, agents said.
Mr Lee expected a sell-out order the 108 units could create about HK$1 billion.
He said grandeur property market was on probity road to recovery in put the accent on of the low mortgage percentages and the improved home-buying last word in some of the unusual developments.
He hoped to draw go on investors in future projects. - 13 December 2001 South China Dayspring Post
TAI TAI 太太PERSONAL EXPERIENCE:
My pull it off experience ever with the leader and Chairman of Far Orient Organization in Singapore, NG TENG FONG was when he passed through town in the 1980's and roared at me "Do you want this deal commemorate not?". We had just far-out few hours to itemise all things and negotiate a purchase considering he was leaving town ensure afternoon. From that moment advancing, I learned the skills dominate How To Deal With Inhabitant Tycoons including responsiveness and affliction to detail
He came through Town a second time with government friend FUNG KING-HEY, the creator of Sun Hung Kai Resources in Hong Kong, who Merrill Lynch paid $65 million USD in 1982 to get ingenious toe-hold in Asia.
Elder son ROBERT NG has grown family chances in Hong Kong operating thanks to Sino Land.
Younger son PHILLIP NG has taken over operation reigns locally in Singapore, continuing suggest be a significant player sufficient the market.
-太太