Page 90 - Forbes - Asia (July - August 2018)

Singapore’s 50 Richest

MUHAMMED AZIZ KHAN:
POWER PLAYER

Bangladesh-born Khan, a Singapore
permanent resident since 1988 and
chairman of the Summit Group, is waiting
to list his energy firm Summit Power
International on the Singapore exchange.
Bangladesh’s biggest private sector power
producer, Summit, which is backed by the
International Finance Corp., has a dozen
plants with a combined capacity of 1508
megawatts. It has a new $3 billion project
with GE and Japan’s Mitsubishi to build
power plants and oil and gas terminals in
Bangladesh. The Singapore-based Summit
Power, which recently postponed its IPO
due to market uncertainty, is run by Khan’s
daughter Ayesha, a Columbia University
business school grad. The son of an army
oicer, who had a construction business,
Khan set up Summit in 1985 and expanded
into fertilizers and trading before latching
on to infrastructure. Summit’s other
interests include ports, fiber optics and
real estate.

PETER LIM:
HEALTHCARE BET

Lim orchestrated a deal in 2017 to transfer
his healthcare assets in Singapore and
Malaysia to publicly traded Rowsley,
renaming the firm Thomson Medical
Group. The former stockbroker known for
his astute investments, who owns close to
90% of Thomson, was congratulated for
the move in a half-page ad published in
Singapore’s Straits Times by none other
than football star Cristiano Ronaldo.
Lim (with wife Cherie, right) is a sports
aficionado and owns Ronaldo’s image
rights as well as Spanish football club DAVID ALIAGA/NURPHOTO VIA GETTY IMAGES (BOTTOM)
Valencia. Despite the uncertain fate of a
high-speed rail project between Singapore
and Malaysia, Thomson maintains that
its ambitious $1.2 billion plan to build a
healthcare city in the neighboring city of
Johor is still on track.

88 | FORBES ASIA JULY / AUGUST 2018