Summit’s Aziz Khan reappears on Forbes' Singapore richest list

Muhammed Aziz Khan, chairman of Summit Group, has once again been featured on Forbes' list of Singapore's 50 richest people.

In the list published yesterday, Forbes placed Khan as the 49th richest person in the city-state this year, with a net worth of $1.1 billion. 

Eduardo Saverin, co-founder of Meta Platforms, was named the richest person in Singapore with a net worth of $43 billion.

Last year, Khan ranked 41st on Forbes' list of Singapore's wealthiest individuals.

The business magazine has named Khan at a time when he and his family members are under the scrutiny of the Anti-Corruption Commission (ACC) over allegations of corruption.

Last month, the High Court upheld a lower court order directing the ACC to freeze 191 bank accounts belonging to Khan and his family in connection with the allegations.

He is the brother of former Awami League (AL) lawmaker Lt Col (retd) Muhammad Faruk Khan. His family members deposited Tk 41.74 crore in these accounts.

The AL was ousted in August last year following a mass uprising.

Forbes noted that Khan holds Singaporean citizenship and resides there.

Summit Group has interests in power, ports, fiber optics and real estate, all in Bangladesh, according to the Forbes.

Khan first appeared on Forbes' Singapore billionaires list in 2018, when his net worth was $910 million.

In 2019, he sold a 22 percent stake in Summit Power International to Japan's JERA for $330 million, which valued the company at $1.5 billion, according to Forbes' previous listing.