The first Singapore citizen to be labeled as a "significant person" under the Foreign Interference Act 2021, who oversees a multimillion-dollar real estate portfolio of a Chinese metals billionaire.
The Home Office is invoking the Foreign Interference Act against 59-year-old Philip Chan Man Ping. Chan manages the real estate investment arm of a copper conglomerate owned by Chinese billionaire Wang.
Chan was assessed as "demonstrating a susceptibility to being influenced by foreign actors and a willingness to promote their interests," the ministry said, adding that his activities were "aimed at achieving Singapore's political objectives". The ministry did not mention any country in its statement, nor did it mention the king.
According to Wen Way's **, Hong Kong-born Chan is an Amer International Group CoManaging Director of Wen Way Investments PTE, the real estate arm of the company's property division in Singapore. Amer is a Shenzhen-based Fortune Global 500 company that mines, processes and trades copper.
Wang, known as China's "Copper King" by China**, is ranked as the 35th richest person in the country on the Bloomberg Billionaires Index. His fortune of $6.6 billion is dominated by Amer, which he founded in the 90s of the 20th century. The company says it is responsible for 10% of the country's copper imports. Amer did not immediately respond to requests for comments sent outside of business hours.
Singapore's Home Affairs Ministry said it informed Chan on Feb. 2 that it planned to designate him as a so-called "important person." He will have two weeks from the notice to make representations to the authorities, after which he must disclose the political contributions of S$10,000 (US$7,440) or more that he receives and receive each year, as well as declare his foreign affiliation and any immigration benefits. The designated individual may appeal the decision directly to the Minister of the Interior.
Chan, a property industry veteran who immigrated to Singapore more than three decades ago, is also the CEO of C&H Properties Pte, a real estate agency. Amer acquired a majority stake in the company in 2013.
He is joined by Wang's Chinese-born wife, Liu, who is an executive director. According to business records, Amer's co-founder, Liew, also has Singapore citizenship. A native of Anhui Province, her registered residence is a premium bungalow on Windsor Parkway – Singapore's most prestigious floor-to-ceiling house, a high-end enclave close to a nature reserve.
Chan has been the chairman of the Kowloon Club since 2011, an immigration support group mainly from Hong Kong. In that position, he wrote columns for the local newspaper Lianhe Zaobao and interacted with local politicians, according to the club**. The club did not respond to requests for comments sent outside of business hours.
According to its **, Wen Way, which Chan co-founded with Amer in 2012, has increased its portfolio in Singapore to commercial properties worth about S$200 million.
China is Singapore's largest partner and the main one for tourists, but China's wealth into the state, particularly in the property sector, has been under scrutiny. More than 200 properties have been frozen and more than S$3 billion in assets seized following a record money laundering bankruptcy involving Chinese-born individuals that began last year.
Chan said he "really didn't know" why the notice was given and wasn't told why. He told the newspaper that he would first seek to understand the law before replying.
According to business records, Chan formed an independent company called Mutual Benefits Realty PTE in 2010. According to his company biography, the company focuses on "providing services to high-net-worth clients from China in the acquisition and investment of high-end and mid-range properties in Singapore".
According to business records, he started a company of the same name in 2007 as a business and immigration consulting firm. He also founded an education consultancy called China Link in 2020 to "foster a better understanding and greater appreciation of China" within the Southeast Asian community.
Chan has extensive links with business and grassroots organisations in Singapore. He is listed as the Chairman of the Hong Kong-Singapore Business Association. He is the patron of the committee that organizes social activities to promote the construction of the state under the jurisdiction of the People's Association, a ** institution. He is also a committee member of SPD, a local disability charity, according to his now-deleted profile.