PIL founder joins Singapore’s billionaires club

Singapore: Who said container shipping was still in the doldrums? A notable new addition to Forbes’ Singapore rich list is the founder of Pacific International Lines (PIL).

The billionaires club in Singapore expanded by five from 2013 to 26 this year. Among new entrants to the club is Chang Yun Chung, ranked No 12 on the list with a net worth of $2.1bn. Also known as Teo Woon Tiong, he jumps into the top 20 on new information about his holdings in PIL, Forbes said.  

Property tycoons Robert and Philip Ng retained top spot from the previous year, with their net wealth expanding by $2.2bn to $12.8bn.  [25/07/14]

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