Founder and Owner
Asok Kumar Hiranandani heads the privately owned Royal Group Holdings, formed to hold his share of assets after he and older brother Raj Kumar divided up Royal Brothers in 2011. Despite the split, Hiranandani remains among Singapore's richest, ranking 19th in 2013 according to Forbes, which estimates his net worth at $1.1 billion. This also ranks him 1,342nd among the world's billionaires. Hiranandani recently inked a deal to buy a Sentosa resort from Hong Kong's HKR International for $165 million. Beyond Singapore, Royal Group acquired and is currently undertaking a multimillion-dollar refurbishment of the former Ritz Carlton Double Bay in Sydney, which will reopen as InterContinental Sydney Double Bay in January 2014. Meanwhile, its 135-room conservation hotel Sofitel So, at the former Ogilvy Centre, has managed to rope in Karl Lagerfeld as its “Signature Designer”. The luxury hotel is opening its doors in March 2014. Royal Group also owns two smaller hotels in the Chinatown area.
Company:Royal Group Holdings