China's RICHEST WOMAN financing Johor's controversial Forest City project?

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JOHOR BARU - Country Garden Holdings, the Chinese property giant behind the controversial Forest City development in Johor Baru, is controlled by China's richest woman and one of the world's youngest billionaires.

Ms Yang Huiyan, 33, is the second daughter of Mr Yang Guoqiang, 59, a former bricklayer who founded the firm 20 years ago in southern Guangdong province.

In 2007, she was catapulted to fame when, just before Country Garden's listing on the Hong Kong Stock Exchange, her father transferred all his holdings to her.

This amounted to 70 per cent of the company's stock and gave the Ohio State University graduate an overnight fortune of US$16 billion after the initial public offering.

The 2008 financial crisis has reduced her fortune to US$7.2 billion (S$9 billion) now, which still puts her in seventh place on China's rich list.

Ms Yang was made vice-chairman of Country Garden in 2012. But by all accounts of the media-shy family - Ms Yang has never accepted an interview and makes few public appearances - Mr Yang still largely runs the real estate giant as chairman.

According to local media reports, he has been training his favoured daughter for succession for almost all her life, taking her along to company meetings when she was a teenager.

Company insiders said she would "listen intently but never say a word".

After she graduated from university in 2003, her first job was as her father's personal assistant.

Mr Yang himself has a classic rags-to-riches story common among China's nouveau riche.

A bricklayer and construction worker in his youth, he started his business by


Full article: http://www.malaysia-chronicle.com/in...#ixzz35vETmsxb


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