Muhammed Aziz Khan, chairman of Summit Group, has been named the 42nd richest man in Singapore on the Forbes' list for 2022.
The Bangladeshi entrepreneur's net worth was stated to be $1 billion.
Khan, a 67-year-old entrepreneur, is one of the pioneers in the power industry of Bangladesh.
Summit Group is one of the top private sector conglomerates of Bangladesh and has interests in power, ports, fibre optics, real estate and liquefied natural gas.
A permanent resident of Singapore, Khan ventured into businesses in 1973, at a time when there was hardly any track record of the country producing successful entrepreneurs.
But in the course of the last four decades, Khan has gone on to cement his name among the country's most illustrious businessmen.
He set up Summit Industrial and Mercantile Corporation in 1985, aiming to develop the country's infrastructure.
Today, Summit's subsidiaries are the country's first private sector power generator, a port owner and operator, and provider of information communication connectivity via fibre optic.
Set up in 1997, Summit Power International (SPI) is the largest independent power producer in the country and is listed on the Singapore exchange. Khan is the chairman of the company.
It owns and runs a total of 18 power plants in operation or under development with a combined capacity of 2,255 megawatts.
Another 277 MW is added through its associate Khulna Power Company Limited, according to the SPI website.
The power plants account for 19% of the installed capacity of the privately run electricity units and 8% of the total installed capacity of the country.
SPI also operates Bangladesh's second floating storage and regasification unit and import terminal for liquefied natural gas with a capacity of 500 million cubic feet of gas per day.
The Forbes' list has been compiled using shareholding and financial information obtained from families and individuals, stock exchanges, analysts and other sources.
