Daryl Ng Win Kong, the eldest son of Robert Ng Chee Siong, will take the reins from his father at the HK$127.7 billion (US$16.3 billion) Sino Group, marking the leadership transition to the third-generation scion of the group’s founding family.
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Darryl Ng, 47, will step into the chairman’s role from August 31, according to filings from the group companies to the Hong Kong stock exchange on Friday. He will become the chairman of Sino Land, Tsim Sha Tsui Properties and Sino Hotels, whose combined market value is HK$127.7 billion.
Robert Ng, 72, who took over from his father and group founder, the late Ng Teng Fong, in 1991, has decided to retire from his positions in the group, the statement said. He has three sons and three daughters. Nikki Ng Mien Hua, the eldest daughter, is a non-executive director of the company.
The late Ng Teng Fong moved from China to Singapore in 1934 and built a fortune in real estate. He founded the Far East Organization in Singapore in the 1960s and turned Sino Land into a major developer in Hong Kong.
Sino Land reported a net profit of HK$1.82 billion for the six months ended December 2024, down from HK$2.6 billion a year earlier. The company is in a cash-positive position, a rarity among the city developers, many of whom are struggling with billions of dollars in debt.
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