AS THE chief executive officer of Far East Organization, Mr Philip Ng manages a real estate empire that encompasses apartments, offices and shopping malls in Singapore and Malaysia.
So it is little wonder that he is being recognised for making a man-made island south of Singapore a piece of choice real estate.
Mr Ng, 51, was chairman of the Sentosa Development Corporation from March 2001 to February 2007. Under his six-year stewardship, Sentosa saw a rise in visitors and investments.
Notably, the sale of 99-year leasehold bungalow land parcels at Sentosa Cove drew prices that surpassed those of freehold good class bungalow sites in prime districts on mainland Singapore at the time.
On being conferred the Meritorious Service Medal this year, he said: ‘It is an honour to serve my country and to be able to contribute in some aspects of Singapore’s development.’
He took over the reins at Far East from his father Ng Teng Fong, who is Singapore’s richest man, in the 1990s. The privately held group built some of the most enduring malls on Orchard Road, including Far East Plaza and Lucky Plaza, and its most recent developments include Orchard Central.
Mr Ng is a director of Sino Group, Far East Organization’s sister company. He is also the executive chairman of Orchard Parade Holdings, and chairman of Yeo Hiap Seng.
Source : Straites Times – 9 August 2009
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