Chinese-born shipping magnate Chang Yun Chung, also known as Teo Woon Tiong, cofounded his Singapore-headquartered Pacific International Lines in 1967 and grew it from a small coastal operator into one of the largest shipping companies in the world, with a fleet of 180 ships. Chang owns 94% of the privately-held company, which accounts for the bulk of his fortune. Other assets include Hong Kong-listed Singamas Container Holdings, one of the world's largest container manufacturers. Demand for containers has been fluctuating, reflected in the stock which is down by more than a fourth over the past year. Son Teo Siong Sen runs daily operations and also heads the Singapore Business Federation.