Sino Land Co. Chairman Robert Ng attended the press conference after the company's annual general … More
©2012 Bloomberg Finance LP
Singapore has designated real estate tycoon Robert Ng and his three children as “political people” under laws aimed at curbing foreign influence in city-states.
Ng is the chairman of the Hong Kong-listed China Group, as well as his children – Daly NG, Nikki Ng and David Ng, who require their foreign political ties under Singapore citizenship law, the Home Affairs Ministry said in a statement on Monday.
“To be clear, the expected names of these four people are not because they engage in any serious activity,” the ministry said. It added that individuals designated as “people of political significance” must disclose that they have received more than S$10,000 ($7,427).
The Ministry did not say which foreign political entity and its children were affiliated with. According to the China Group's website, they are members of the National Committee of the Chinese People's Political Consultative Conference.
Robert Ng, 72, is the eldest son of the late Ng Teng Fong, who moved from China to Singapore in 1934 and is known as the “King of the Orchard” because he developed some of the oldest shopping malls in the region. The family, along with his brother Philip, controls the Far East, one of the largest private landlords and real estate developers in Lion City.
Net assets are $14.4 billion Forbes Asia Singapore's 50 most abundant list was published in September, and the Ng family is one of the richest families in the city-state.