Cheng Wai Keung

Cheng Wai Keung, DUBC (born 1951) is a Singaporean business magnate and judicial officer. He is the chairman and managing director of property firm Wing Tai Holdings, which he co-owns with his three brothers.

Cheng Wai Keung
Born1951 (age 68–69)
Singapore
EducationIndiana University (1971)
University of Chicago (1973)
OccupationBusiness magnate
Judicial officer
Years active1974—present
Known forChairman of Wing Tai Holdings
Net worthUS$755 million (2013)[1]
Spouse(s)Helen
Children3
Parent(s)Cheng Yik Hung (father)
Chan Lan Yue (mother)

Early life and education

Born 1951 in Singapore,[1] Cheng Wai Keung's father Cheng Yik Hung manufactured garments.[2] His mother was Chan Lan Yue, a homemaker.[3] In 1955, the elder Cheng established the clothing firm Wing Tai Garment Manufactory, later renamed to Wing Tai Holdings Limited after the company changed its focus from garments to real estate.[4] After graduating from Indiana University in 1971 with a Bachelor's in Science, the younger Cheng further pursued his education by completing a Business Administration master's degree course at the University of Chicago in 1973.[4][5]

Career

Wing Tai

Cheng served as Wing Tai's Assistant managing director from 1974 until 1984. On 2 December 1994, Cheng was appointed the chairman of Wing Tai.[5] Following the death of their father in 2004,[2] Cheng and his three brothers acquired the ownership of Wing Tai Holdings Limited.[4][5]

Other endeavours

In addition to his status at Wing Tai, Cheng has held or currently holds positions at many other bodies and firms. From 1991 to 29 July 2009, Cheng was part of the directorial board of GP Batteries;[5] he had earlier on quit as its chairman in 1997.[6] From 1995 to 2000, he was the chairman of Power Seraya and from 1997 to 2002, he chaired MediCorp TV Singapore. On 27 April 2001, Cheng was elected as the chairman of Raffles Holdings Limited's directorial board. Up till April 2012, Cheng was the director of shipping organisation Neptune Orient Lines. He is currently also the vice-chairman of Singapore-Suzhou Township Development. Cheng is a member of both the Singapore-US Business Council and the Singapore-UK Business Council.[5]

Wealth

In 2009, Forbes ranked him as the twenty-fifth richest person in Singapore.[7] He slid down to number thirty-four in 2011.[8] His wealth increased by more than twofold in 2013, pushing him up to number thirty in ranking.[1] As of August 2013, Cheng has an estimated net worth of $755 million.[1]

Recognition

In 1987, Cheng was awarded the Public Service Star (Bintang Bakti Masyarakat). In 1997, he received the Public Service Star (Bar) (BBM-Lintang). In 2000, he was selected to be a Justice of the Peace in Singapore, a judicial position he has maintained ever since. In 2007, the Singapore Government presented Cheng with the Distinguished Service Order (Darjah Utama Bakti Cemerlang).[4]

Personal life

Cheng is married to Helen. They have three children.[1] In April 2013, the couple put their 84,839 square feet (7,881.8 m2)-large private bungalow at No 33 Nassim Road in Singapore up for sale at a record-breaking asking price of between $250 and $300 million. The building boasts an "in-ground swimming pool and a full-sized tennis court".[9]

References
  1. "Cheng Wai Keung". Forbes. Retrieved 30 September 2013.
  2. "Wing Tai Group founder Cheng Yik Hung dies at 93". TODAY. 8 December 2004. p. 24.
  3. "(untitled)". The Straits Times. 19 December 1995. pp. 33–34.
  4. "Mr Cheng Wai Keung". Wing Tai Asia. Retrieved 30 September 2013.
  5. "Wai Keung Cheng". Bloomberg. Retrieved 30 September 2013.
  6. "GP Audit Committee". The Straits Times. 3 April 1997. p. 59.
  7. "#25 Cheng Wai Keung". Forbes. Retrieved 30 September 2013.
  8. "#34 Cheng Wai Keung". Forbes. Retrieved 30 September 2013.
  9. "Wing Tai chairman's bungalow with a view to smash price records". AsiaOne. 12 April 2013. Archived from the original on 17 September 2016. Retrieved 30 September 2013.
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