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Lim Hock Chee and his brothers Hock Eng and Hock Leng saw their combined net worth increase by 38% to $1.2 billion this year as percentages in their low-budget supermarket chain increased.by purchasing materials to stay home the pandemic.
The company reported a 151% increase in quarter earnings to S$46 million ($33 million), an increase of 76% to S$419 million, he said in its quarter’s earnings report published at the end of July.”With the slow relief of restrictions on people’s movement, the main call caused by Covid-19 will decrease,” the company said.Lim Hock Chee and Sheng Siong were not available for comment.
Born into a pig breeder with nine children, the Lim brothers bought a chain of retail stores suffering from S$30,000 loaned to their father and renamed it Sheng Siong, or “rising vegetables” in Hokkien.Today, Sheng Siong is Singapore’s third-largest supermarket chain through sales, with 61 outlets in Singapore and two in Kunming, and a market capitalization of $2.5 billion.
I am an assistant editor founded in Hong Kong, writing and editing stories about Asian billionaires and their companies.Previously, I was a journalist covering law firms in
I am an assistant editor founded in Hong Kong, who wrote and edited stories about Asian billionaires and their companies.Previously, I was a journalist covering law firms in Law.com and Thomson Reuters.You can email me at jkang [at] forbes.com stay with me on Twitter @johnhjkang.