Property tycoon Ng Teng Fong, listed by Forbes business magazine as Singapore's richest man with a fortune of more than eight billion US dollars, died Tuesday, his flagship company said.
The 82-year-old founder of privately held Far East Organization suffered a brain haemorrhage on January 23 and underwent an operation before he passed away peacefully in Singapore, a company press release said.
Far East Organization and its Hong Kong-based sister company Sino Group comprise one of Asia's biggest property groups, with a combined annual turnover of 5.5 billion dollars and total assets valued at more than 40 billion dollars, the company website said.
It is the largest private residential landlord and one of the biggest owner-operators of hotels in Singapore, with two publicly listed companies, hotel operator Orchard Parade Holdings and beverage firm Yeo Hiap Seng.
Ng topped Forbes magazine's list of the 40 wealthiest people in Singapore in 2009 and was ranked as the world's 87th richest.
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