Wee Cho Yaws heirs are given access to his estate of 10 billion US dollars in UOB, Uol Stakes

The The estate of Wee Cho Yaw, the late Patriarch von UOB, has transferred control of the remaining stocks that he had to hold on to its heirs and has completed one of Singapore’s greatest assets for decades.

According to information on Wednesday (March 5), the estate has checked the family and the real estate -UL -UOL -UOL group of the family, Singapore’s largest stock exchange developer.

The transfers at UOB for all shares that were previously reported under his name -worth around 9 billion US dollars -occurred for several months. At UOL, the direct and indirect control of his estate has also ended over 38 percent of the company worth around 1.4 billion US dollars.

According to Bloomberg Milliardaires Index, the WEE family is the richest banking dynasty in Singapore. Wees oldest son, wee ee cheong, is Chief Executive Officer of the third largest bank in Southeast Asia. At the time of his death in February last year, the late Wee We Cho Yaw led six companies, including Uol and Tiger Balm-Maker HAW Par Corp.

The family’s holding companies, including Cy Wee & Co, are now entirely distributed by Wee Cho Yaw’s wife, three sons and two daughters, although the submissions on how the shares of UOB and UOL were held by his estate were distributed among the family members.

A spokesman for UOB refused to comment on the transfer of the Wee Estate.

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Wee Cho Yaw, one of the best -known names in the banking industry in Singapore, died on February 3, 2024 at the age of 95.

The banks -Titan played a crucial role in the growth of the UOB banking empire, which was founded in 1935 by his father Wee Kheng Chiang.

During his term as chairman and managing director of UOB, the Bank network expanded from 75 to more than 500 branches and offices worldwide.

In 1960 – two years after he became the youngest director of the board, he took over the management of the bank, which was then known as United Chinese Bank.

As managing director of UOB, Wee Cho Yaw in 1971 headed a number of acquisitions from competitive banks, including the Chung Khiaw Bank. Bloomberg