Khoon Hong Kuok


Co-founder and CEO

Co-founder of palm oil giant Wilmar International Kuok Khoon Hong is the eighth richest Singaporean, according to Forbes 2013 list of Singapore's 50 richest. His estimated net worth of US$2.2 billion also puts him in 554th place among the world's billionaires. 2013 saw Kuok shift his focus to Africa and Myanmar after plans to find suitable land in Indonesia fell apart. In April, Wilmar paid $263 million for a 27.5-percent stake in Morocco's Cosumar, Africa's third largest sugar producer. In July, Sifca Group, in which Wilmar has a stake and which owns Africa's biggest palm oil refinery in Ivory Coast, announced plans to spend $417 million in the next five years on plantations and factories in Ghana, Nigeria and Liberia. Kuok has also said that he wants to produce sugar in Myanmar. Wilmar posted an 87 percent rise in net profit to $219 million in the second quarter to June. His other interests include stakes in Yanlord Land and London's Aviva Tower, which he co-owns with Indonesian billionaire Martua Sitorus.


Wilmar International