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Robert NgChinese billionaire, chairman of Hong Kong conglomerate Sino Group
Date of Birth: 01.01.1952
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Content:
- Robert Ng Chee Siong: A Billionaire Tycoon
- Surviving the Stock Market Crash
- Expanding Business Horizons
- Family and Legacy
- Non-Commercial Interests
- The Passing of a Patriarch
Robert Ng Chee Siong: A Billionaire Tycoon
Robert Ng Chee Siong, the eldest son of Singaporean billionaire Ng Teng Fong, was born in 1952. In 1981, he became the chairman of Sino Group, the largest property developer in Hong Kong.
Surviving the Stock Market Crash
In 1987, Ng's fortune suffered a setback when he faced significant losses in the global stock market crash. He initially refused to pay his debts, citing the limited liability protection of the companies through which he traded. However, the investigation was halted due to concerns about its impact on market stability. Ng was required to repay HK$500 million, losing an estimated US$250 million from his various holdings.
Expanding Business Horizons
In 1995, Ng became the chairman of Yeo Hiap Seng, a beverage company. This move was part of a wider strategy to compete with Malaysian investor Quek Leng Chan for control of the company. Eventually, Ng and his father bought out 86% of Yeo Hiap Seng's shares.
Sino Group also launched a new company, Sino Hotels, with Ng serving as its chairman. Under his leadership, the company made several acquisitions, including the purchase of 80% of the local Conrad Hotel for HK$2 billion.
Family and Legacy
Ng is married to Yeoh Saw Kheng, the third daughter of former Singaporean parliament speaker Yeoh Ghim Seng. They have three children: Daryl, Nikki, and two younger daughters Jeanne and Christine.
Daryl, Ng's eldest son, has played an active role in Sino Group since 2005, becoming its executive director. Nikki, a graduate of Yale University, serves as general manager of the conglomerate.
Non-Commercial Interests
The Ng family has been actively involved in the Hong Kong Jockey Club. Several family members own horses, and in 2002, Robert expressed interest in becoming one of the club's 12 stewards. However, this was met with resistance due to his past financial troubles.
The Passing of a Patriarch
In February 2010, Rober's father, Ng Teng Fong, passed away at the age of 83 from a brain hemorrhage. Robert described his father as "optimistic and hardworking."