Asian Tech Press (Aug 31) -- Forrest Li, co-founder, chairman and CEO of Singapore-based Sea Ltd (SE:New York), Southeast Asia's largest Internet company, has become the city-state's new richest person, worth $19.8 billion, Bloomberg reported Tuesday.

The company's American Depositary Receipts (ADRs) have risen 67% so far this year, pushing Li's value up past paint tycoon Goh Cheng Liang, whose net worth now stands at $17.7 billion,according to the report.

This is another example of tech billionaires rising in the wealth rankings of Asian countries. Earlier this year, Brian Kim, founder of South Korean messaging giant Kakao Corp., overtook Lee Jae-yong, the de facto head of Samsung, to become the country's new richest man.

And while Li currently has a net worth of $18.3 billion, he still remains at the top of Singapore's richest list, according to Forbes Real-Time Billionaires List.