Singapore Top Businessman & Chairman Emeritus of UOB Group Wee Cho Yaw Retires as Chairman of $2.47 Billion Singapore Land Group with Wee Ee Lim to Become Next Chairman, Owns Prime Buildings Including Pan Pacific Hotel Singapore, Mandarin Oriental Hotel, SGX Tower 2, UIC Building & Marina Square
3rd March 2023 | Hong Kong
Singapore top businessman & Chairman Emeritus of UOB Group Wee Cho Yaw (Age 94) has retired as Chairman of Singapore Land Group (31/3/23) with his son Wee Ee Lim (UOB Group CEO) to become the next Chairman. Singapore Land Group has a market capitalization of $2.47 billion (3/3/23, S$3.32 billion), and owns prime buildings in Singapore including Pan Pacific Hotel Singapore, Mandarin Oriental Hotel, SGX Tower 2, UIC Building & Marina Square. Wee Cho Yaw is one of the richest man in Singapore with more than $10 billion personal fortune. Also known as Dr Wee Cho Yaw, he is highly regarded in Singapore and internationally, retiring from UOB Board in 2018 after more than 60 years. During his term as UOB Group Chairman & CEO, the bank expanded from 75 to more than 500 branches and offices globally and its assets increased from $2.8 billion to more than $253 billion.
“ Singapore Top Businessman & Chairman Emeritus of UOB Group Wee Cho Yaw Retires as Chairman of $2.47 Billion Singapore Land Group with Wee Ee Lim to Become Next Chairman, Owns Prime Buildings Including Pan Pacific Hotel Singapore, Mandarin Oriental Hotel, SGX Tower 2, UIC Building & Marina Square “
Singapore Top Businessman & Chairman Emeritus of UOB Group Wee Cho Yaw Retires as Chairman of $2.47 Billion Singapore Land Group with Wee Ee Lim to Become Next Chairman
Singapore Land Group
Singapore Land Group Limited (SingLand), formerly known as United Industrial Corporation Limited (UIC), is a premier real estate company listed since 1971. Working across a diverse portfolio of real estate including commercial offices, residential and retail properties and hotels, SingLand takes a holistic approach to development. With a large footprint in Singapore and key overseas markets, our commercial assets in Singapore currently include 2.7 million square feet of office space and 1 million square feet of retail space. SingLand is a subsidiary of UOL Group Limited. Together, we leverage each other’s strengths to drive sustainable growth for our stakeholders. SingLand Properties Limited (SingLand Properties), formerly known as Singapore Land Limited, was incorporated in 1963 and was Singapore’s first public-listed property developer. In 1990, UIC acquired the company and along with it, gained a stable of prominent property developments. These include Singapore Land Tower, Clifford Centre, SGX Centre 2, The Gateway and Marina Square. Building on SingLand Properties’ prolific legacy, UIC was renamed Singapore Land Group in 2021. It signifies our renewed commitment to continue the spirit of originality and enterprise that has helped to shape Singapore’s built environment.
UOB
UOB is a leading bank in Asia. Operating through its head office in Singapore and banking subsidiaries in China, Indonesia, Malaysia, Thailand and Vietnam, UOB has a global network of around 500 offices in 19 countries and territories in Asia Pacific, Europe and North America. Since its incorporation in 1935, UOB has grown organically and through a series of strategic acquisitions. Today, UOB is rated among the world’s top banks: Aa1 by Moody’s Investors Service and AA- by both S&P Global Ratings and Fitch Ratings.
Dr Wee Cho Yaw, Chairman Emeritus of UOB Group
Dr Wee Cho Yaw, visionary, banker extraordinaire, community pillar and celebrated pioneer, is highly regarded in Singapore and internationally. He retired from the UOB Board in 2018, following more than 60 years at the helm of the UOB Group. Under his leadership and guidance, UOB became one of the leading banks in Asia. During his term as Group Chairman and CEO, the Bank’s network expanded from 75 to more than 500 branches and offices globally and its assets increased from $2.8 billion to more than $253 billion through his pursuit of disciplined and sustainable growth. Dr Wee has received many accolades for his business achievements and support of education, community welfare and the business community. Among the awards conferred on him are the Distinguished Service Order, Singapore National Day Award (2011), ASEAN Business Advisory Council Legacy Award for Singapore (2017) and Honorary Doctor of Letters from the National University of Singapore (2008) and Nanyang Technological University (2014).
Dr Wee remains as Chairman Emeritus and Honorary Adviser to share his wealth of experience and insight with the Board and Management.
Highlights of UOB’s expansion since 1965 include:
- 1965 Opens 1st overseas branch in Hong Kong
- 1971 Acquires majority stake in Chung Khiaw Bank (CKB)
- Opens Tokyo Branch
- 1973 Acquires Lee Wah Bank
- 1975 Opens London branch
- 1977 Opens New York agency
- 1980 Opens Los Angeles agency
- 1983 Opens Seoul representative office
- 1984 Opens Beijing representative office
- 1985 Expands into Sydney and Xiamen
- 1986 Expands into Vancouver
- 1987 Acquires majority interest in Industrial & Commercial Bank
- 1992 1st Singapore bank to set up office in Vietnam
- Sets up Taipei representative office
- 1994 Expands into Yangon
- 1997 UOB Malaysia merges with CKB Malaysia
- 1998 Opens Shanghai branch
- 1999 Acquires Westmont Bank in the Philippines
- 1999 Acquires Radanasin Bank in Thailand
- 2001 Acquires Overseas Union Bank
- 2004 Acquires 96.1% in Bank of Asia Public Company in Thailand
- 2005 Increases controlling stake of PT Bank Buana in Indonesia to 61.1%
- 2009 Opens Mumbai branch
- 2010 Merges PT Bank UOB Indonesia with PT Bank UOB Buana
- 2015 Completes full acquisition of Far Eastern Bank
- Officially opens Yangon branch, adding to UOB’s unparalleled Southeast Asian network
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