Pursuits
Koh Becomes Billionaire as Fragrance Sheds Love Hotel Image
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Koh Wee Meng, who develops property and runs a budget hotel chain in Singapore, has joined the ranks of the world’s billionaires as a surge in shares of Fragrance Group Ltd. boosted his fortune to $1.1 billion.
Koh and his wife, Lim Wan Looi, own an 84.2 percent stake in Fragrance worth almost $1 billion, which has almost doubled in the last 12 months. The rest of his net worth is derived from stakes in other public holdings and dividend income.