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Yeo Chong Lin:Shipping tycoon Yeo Chong Lin is giving only S$1 (RM2.40) inheritence to each of his four children.
The 77-year-old Singaporean did not leave a single cent to his girlfriend of six years.
Instead, Yeo left his entire S$45 million fortune to his seven siblings.
He told Lianhe Wanbao that he had severed ties with his children.
Yeo, the main shareholders of Yeo Holdings, lost a divorce suit in which he was order to pay S$24 million to his ex-wife Nancy Tay last year.
The money was under the care of his eldest son, aged 56.
Earlier, the tycoon had given S$25 million worth of cash and company shares to his youngest son, 45, and S$15 million to his two daughters - aged 48 and 54.
Yeo said the four children and eight grandchildren had never visited or telephoned him since then.
"Whatever it is, I'm still their father. But they began to ignore me after taking the money. They didn't even call to say hello," said Yeo.
Yeo, who started his career as a shipping clerk at 17, is a self-made millionaire.
While the elder Yeo took cash for his 75 per cent portion of Yeo Holdings’ Swissco shares, Alex Yeo opted for shares in C20 at a ratio of 1.7917 new shares per Swissco share, indicating that he would be among the directors the company.
Despite obtaining a waiver from making a general offer for the entire outstanding Swissco shares, early this month, C2O placed on the table two alternative offers to the remaining Swissco shareholders.
The first option is 1.7917 new shares of C2O for each Swissco shares. The second is a payout of 89 cents per Swissco share. Or it could be a combination of both.
Tag:Latest news Yeo Chong Lin.Search result Yeo Chong Lin.All about Yeo Chong Lin.Singapore trend Yeo Chong Lin.
The 77-year-old Singaporean did not leave a single cent to his girlfriend of six years.
Instead, Yeo left his entire S$45 million fortune to his seven siblings.
He told Lianhe Wanbao that he had severed ties with his children.
Yeo, the main shareholders of Yeo Holdings, lost a divorce suit in which he was order to pay S$24 million to his ex-wife Nancy Tay last year.
The money was under the care of his eldest son, aged 56.
Earlier, the tycoon had given S$25 million worth of cash and company shares to his youngest son, 45, and S$15 million to his two daughters - aged 48 and 54.
Yeo said the four children and eight grandchildren had never visited or telephoned him since then.
"Whatever it is, I'm still their father. But they began to ignore me after taking the money. They didn't even call to say hello," said Yeo.
Yeo, who started his career as a shipping clerk at 17, is a self-made millionaire.
While the elder Yeo took cash for his 75 per cent portion of Yeo Holdings’ Swissco shares, Alex Yeo opted for shares in C20 at a ratio of 1.7917 new shares per Swissco share, indicating that he would be among the directors the company.
Despite obtaining a waiver from making a general offer for the entire outstanding Swissco shares, early this month, C2O placed on the table two alternative offers to the remaining Swissco shareholders.
The first option is 1.7917 new shares of C2O for each Swissco shares. The second is a payout of 89 cents per Swissco share. Or it could be a combination of both.
Tag:Latest news Yeo Chong Lin.Search result Yeo Chong Lin.All about Yeo Chong Lin.Singapore trend Yeo Chong Lin.
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