Wee Meng Koh

Koh Wee Meng

With net worth of $1.03 billion, Koh is making big plans this year to grow and spin off his businesses Down Under from Singapore-listed Fragrance Group. It most recently acquired a $24.5 million site in Perth, which will cost $89.7 million to develop. Proposals have been made to build a 41-level mixed-use development, which is expected to include 280 residential dwellings, retail and dining tenancies, and 240 parking spaces. Locally, the Fragrance group manages 21 budget Fragrance hotels and two Parc Sovereigns, totalling 1,982 rooms.