Sheng Siong's Lim family joins ranks of supermarket billionaires amid coronavirus pandemic

SINGAPORE - Lim Hock Chee and his wife used to sell chilled pork at a rented stall in a grocery store.

The family's combined fortune, based on their 57 per cent stake in the supermarket chain held mainly by Lim and his two brothers, has surged to US$1.1 billion , according to the Bloomberg Billionaires Index. That would have been inconceivable when Mr Lim Hock Chee started the pork stall to help alleviate a supply glut at his father's pig farm.

"When people stayed away from restaurants during Sars, we enjoyed brisk business because more people started buying food to cook at home," he said in a 2008 interview with The Straits Times. Radhakishan Damani, who controls Avenue Supermarts Ltd in India, now has a net worth of US$10.7 billion, an increase of about 10 per cent since the start of the year.

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