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#304 Tan Kim Choo $5.44B

Random fact: Family established a charitable foundation upon Ng's death.


Tan is the largest shareholder of Far East Organization, Singapore's biggest closely held property developer. It's calculated to have had revenue of $4.7 billion in 2016 and has completed more than 730 projects. Tan also has stakes in beverage maker Yeo Hiap Seng, and hospitality and health-care company Far East Orchard.

As of July 26, 2017:
Last change +$32.1M (+0.6%)
YTD change +$1.16B (+27.0%)
Industry Real Estate
Biggest asset Far East Organization
Citizenship Singapore
Age 0
Wealth Inherited
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Tan Kim Choo's net worth of $5.44B 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 Tan's wealth is held through Far East Organization, in which she has a 50 percent stake. The company is controlled by her sons, Philip and Robert Ng. The two are also co-executors of the estate of Tan's late husband, Ng Teng Fong. Far East Organization is the largest closely held property developer in Singapore, according to its website in April 2017.

The valuation of the closely held property developer is based on the average enterprise value-to-sales and price-to-earnings multiples of four publicly traded peer companies: UOL Group, City Developments, CapitaLand and Frasers Centrepoint. The company reported revenue of S$3.9 billion ($3.1 billion) in 2013, the latest figure obtained from the Singapore Accounting and Corporate Regulatory Authority. Its 2016 revenue is calculated to be S$4.7 billion based on the revenue growth rate of the five publicly traded peers and this figure is used in the analysis.

Tan also has stakes in three publicly traded assets that she holds directly and through Singapore-based holding companies. She owns about 32 percent of developer and beverage maker Yeo Hiap Seng; the stake excludes shares held by publicly traded companies that the family controls. The billionaire also owns about 8 percent of Far East Hospitality Trust, which controls hotels and serviced residences, and 31 percent of hospitality and health-care company Far East Orchard.

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

Through Bertha Cheung, a Far East Organization spokeswoman, the billionaire declined to comment on her net worth.


Family: Widowed, 8 children

Tan Kim Choo is the wife of Ng Teng Fong, founder of Far East Organization. He created the company in the 1960s and turned it into the biggest closely held property developer in Singapore, and formed Sino Group in Hong Kong in the 1970s. Her late husband was born in China's southeastern Fujian province and migrated to Singapore at age six. He died in 2010 at age 82 after suffering a cerebral hemorrhage.

Tan's two sons, Philip and Robert Ng, oversee the late Ng's business empire. Robert, trained as a lawyer, built the family's Hong Kong real estate business under the direction of his late father and has been chairman of Sino Group -- parent of Hong Kong-listed Sino Land, Tsim Sha Tsui Properties and Sino Hotels -- since 1981. Younger brother Philip took over the reins at Far East Organization from his father in the 1990s.

Philip Ng reorganized Far East Organization's hospitality and health-care businesses in 2012, when Singapore-based Orchard Parade Holdings divested three hotels through the listing of a property trust. The trust also acquired several other hotels and serviced residences in Singapore that are owned by the Far East Organization.

Tan and her family donated about $100 million in 2011 to a hospital the government is building in Singapore in memory of the late Ng. Plans to call it Ng Teng Fong Hospital prompted Tan Cheng Bock, a former member of Parliament, 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 June 2015.

  • 1960 Husband, Ng Teng Fong, sets up Far East Organization in Singapore.
  • 1981 Developer Sino Land starts trading on the Hong Kong stock exchange.
  • 1987 Far East Organization buys majority stake in Ming Court Hotel.
  • 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 Husband dies at age 82 after suffering a cerebral hemorrhage.
  • 2012 Far East Organization hotel trust begins trading in Singapore.
  • 2014 Opens a sales office in Myanmar.
  • 2016 Buys a majority stake in Australian restaurant group.