Ng Robert & Philip Net Worth is$9,200 $Million
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Residence: Hong Kong
Known For: 1987 Hong Kong Futures Exchange collapse
Employer: Sino Group
Title: Chairman
Spouse: Yeoh Saw Kheng
Children: Daryl, Nikki, Jeanne, Christine
Robert Ng Chee Siong (e>>?a??c??, born 1952) is the chairman of Hong Kong property development conglomerate Sino Group, a position he has held since 1981. He is the eldest son of Ng Teng Fong, the Singaporean real estate billionaire. Forbes listed the two as the 30th richest people in the world in 1997.
Ng was speculating in futures contracts on the Hong Kong Futures Exchange through two Panamanian-registered companies when the October 1987 global stock market crash began; his paper losses reportedly reached HK$1 billion. At first, Ng refused to pay, claiming to be protected by the limited liability of the companies through which he had traded. This led to the collapse of the futures exchange; trading was also halted on the Hong Kong Stock Exchange for four days. An investigation by the Commercial Crime Bureau of the Royal Hong Kong Police revealed that Ng had avoided required margin calls through collusion with one of his brokers. However, in the end, no charges were laid against Ng because the colonial government of Hong Kong felt that prosecuting him would pose a risk to overall market stability. Instead, a deal was worked out which saw Ng repay HK$500 million, with Hong Kong taxpayers providing the rest of the funds needed by the Exchange through a government bailout. Ng reportedly lost a total of US$250 million in his various investment holdings as a result of the crash.
In June 1995, Ng took over as chairman of Yeo Hiap Seng (YHS), a Singapore-listed food and beverages company which had lost US$3.2 million in its previous year of operation. His chairmanship came at the same time as his family increased its stake in the company to 24.9%, just short of the 25% threshold above which they would be required by law to make an offer to buy out all other shareholders. This marked a step forward in his fight with Malaysian billionaire investor Quek Leng Chan for control of YHS and its land holdings in Singapore's Bukit Timah district, which could be worth billion

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Water: Too big a problem to solve?

Water, and the plastic bottle that carries it, cost Robert, an office worker in Quezon City, P20 ($0.37). “Pabili ng tubig. Magkano?” Robert (not his real name) asked inside an air-conditioned bus to a vendor selling assorted snacks and bottled water.
Posted: June 20, 2018, 6:59 am
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