What is Sit Kwong Lam's Net Worth?
Sit Kwong Lam is a Hong Kong businessman who has a net worth of $1.7 billion. With more than 20 years of experience in the oil industry, Sit Kwong Lam amassed his fortune as the founder and chairman of Brightoil Petroleum Holdings Ltd. The interests of Lam's group range from oil storage and gas stations to international trading of petroleum products and marine transportation as well as oil and gas exploration and exploitation.
In February 2014, Brightoil Petroleum made a deal to buy $1.1 billion of oil and gas assets in eastern China's Bohai Bay from Anadarko Petroleum of Texas. Aside from chairing his group, Sit Kwong Lam is a vice president of the China Chamber of Commerce for Petroleum Industry, as well as a member of the National Committee of the Chinese People's Political Consultative Conference.
