Koh Wee Meng Net Worth $1.4 Billion
Singaporean property tycoon Koh Wee Meng is the founder, chairman and CEO of Fragrance Group who has an estimated net worth of $1.4 billion as of August 2013. His earnings make him 17th wealthiest individual in the Singapore’s 50 Richest List and is rated 1031st in the listing of World Billionaires. Mr. Koh started assembling his estimated net worth of $1.4 billion when he broke off his family’s jewelry retailer, Aspial, in the 1990’s and began making his fortune in real estate. CEO’s Group is an organization that largely buys and sells affordable residential properties and manages a budget resort. In the year 2012, CEO turned the resort arm of Fragrance into International Premium Resorts, a chain of budget hotels. He’s now enlarging the firm into a commercial real-estate. In the last quarter, the group reportedly formed a two thirds jump in net profits to $35 million as sales grew at 49% to $120 million. This entailed the growth projects like Changi Suites, a residential and commercial complex. In the year 2012, Global Premium has also increased its earnings using the growing tourist arrivals in Singapore. In May, he bought a position on the listed property unit, Tee Land. May’s second Parc Sovereign resort is expected to open in 2014. Regardless of his real estate business, Koh Wee Ming is an enthusiastic vintage car collector. In 2008, he made the headlines after he sued a Rolls Royce dealer in Singapore for purportedly selling him a faulty Phantom car.