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PETALING JAYA (Jan 9): Yang Huiyan – the controlling shareholder of Country Garden Holdings Co, and China’s richest woman — saw her wealth burgeon by US$2.1 billion (RM8.42 billion) thanks to a share surge within the first four trading days of the new year, reported Bloomberg.
Her net worth swelled to US$25.6 billion as at Jan 5, rendering her the fifth-richest person in China, according to the Bloomberg Billionaires Index — before the developer’s shares rose by a further 6.9% on Jan 8 in Hong Kong trading, taking its year-to-date gains to 16%.
Hui Yan — who at 36 years old is also China’s youngest billionaire, according to the Bloomberg index — is believed to have inherited her father’s controlling stake in Country Garden Holdings in 2005, reported the South China Morning Post.
Her father, Yang Guoqiang — better known by his Cantonese name Yeung Kwok Keung — co-founded the developer in 1992.
The company had reported preliminary 2017 contracted sales of 550.8 billion yuan (RM338.62 billion), more than its 500 billion yuan target set in August.
Country Garden Holdings’ largest development in Malaysia is the RM444 billion-Country Garden Forest City, which covers 14 sq km of land.
There is speculation that the Kuala Lumpur-Singapore 350km high-speed rail will include a stop at the mixed-use development at the edge of Johor.
Forest City’s other projects in Malaysia include Central Park and Danga Bay in Johor, and Diamond City in Selangor.
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