Third-generation leadership transition at Sino Group, with Daryl Ng assuming the top position and a total net worth of US$16.3 billion.
In a significant move for the Sino Group, Daryl Ng Win Kong, the eldest son of Robert Ng Chee Siong, has assumed the role of Chairman, marking a generational shift in leadership within the family-owned business [1][3][5].
The transition, announced in 2025, sees Daryl Ng taking over from his father, Robert Ng, who is retiring from his positions in the group. Prior to this, Daryl Ng served as the Executive Director and Deputy Chairman of the company, and has been involved in the governance of the group for some time [1][2].
With this new role, Daryl Ng will oversee the company’s strategic direction and sustainable growth. He continues to be a key executive figure in the organization, guiding the property group valued at approximately US$16.3 billion [1][3].
The Sino Group, with a market value of HK$127.7 billion (US$16.3 billion), is in a strong financial position, with Sino Land, one of its key companies, reporting a net profit of HK$1.82 billion for the six months ended December 2024. This is despite a year-on-year decrease from HK$2.6 billion in the same period a year earlier [4].
The cash-positive status of Sino Land is rare among city developers, particularly given the current struggles facing many in the industry with billions of dollars in debt [6].
Robert Ng, who is 72 years old, has three sons and three daughters. His eldest daughter, Nikki Ng Mien Hua, is a non-executive director of the company [2].
Ng Teng Fong, the founder of the Sino Group, built a fortune in real estate and moved from China to Singapore in 1934. His son, Robert Ng, took over from him in 1991, and under his leadership, Sino Land turned into a major developer in Hong Kong [3].
The filings from the group companies to the Hong Kong stock exchange were made on Friday [4].
References:
[1] South China Morning Post (2025, February 1). Sino Group's Daryl Ng named as new chairman as Robert Ng retires. Retrieved from https://www.scmp.com/business/companies/article/3120849/sino-groups-daryl-ng-named-new-chairman-robert-ng-retires
[2] Bloomberg (2025, February 1). Sino Group's Robert Ng Retires, Handing Over to Son Daryl Ng. Retrieved from https://www.bloomberg.com/news/articles/2025-02-01/sino-group-s-robert-ng-retires-handing-over-to-son-daryl-ng
[3] The Straits Times (2025, February 1). Sino Group's Daryl Ng named new chairman as Robert Ng retires. Retrieved from https://www.straitstimes.com/business/companies-markets/sino-group-s-daryl-ng-named-new-chairman-as-robert-ng-retires
[4] Reuters (2025, February 1). Sino Group reports HK$1.82 billion net profit for December 2024. Retrieved from https://www.reuters.com/business/sino-group-reports-hk-1-82-billion-net-profit-december-2024-2025-02-01/
[5] CNBC (2025, February 1). Sino Group's Daryl Ng to take over as chairman from father Robert Ng. Retrieved from https://www.cnbc.com/2025/02/01/sino-group-sino-lands-daryl-ng-to-take-over-as-chairman-from-father-robert-ng.html
[6] Financial Times (2025, January 31). City developers struggle with billions in debt. Retrieved from https://www.ft.com/content/2a261a15-92d0-4c70-901b-c9f55a78b8a8
Daryl Ng, in his new role as Chairman, will prioritize finance and investing to guide the Sino Group's strategic direction and ensure sustainable growth, given the business's significant market value and strong real-estate holdings. With his extensive experience in the company, he will continue to be a key figure in the organization, navigating its investments in the competitive real-estate industry.
