Ng moved into pole position to become preferred bidder for the club last night after former Rangers director Paul Murray's Blue Knights consortium took a step back from the process.
Ng is chairman of Hougang United in Singapore and claims to have been a Rangers supporter since watching them win the European Cup Winners' Cup on television in 1972.
Sanjay Nair, a sports reporter for the Straits Times in Singapore, told BBC Radio Scotland: "Two years ago he burst on to the football scene when he bought local team Hougang United. Before that not much was known about him.
"Before he took over Hougang United they were always last or second last, but since he took over they reached the Singapore League Cup final and that's a big thing, and now they are a mid-table team.
"That's a big thing because in Singapore players are on one or two-year deals so a chairman can't come in and just pump money in to the transfer market.
"He invested through youth development, developed the reserve team, decreased the debt and he gave a former national team player his first chance at coaching and he led them to the League Cup final."
Rangers went into administration more than two months ago amid court action by Her Majesty's Revenue and Customs, who are owed more than £14million in VAT and PAYE accrued following the takeover of Craig Whyte less than a year ago.
The Blue Knights had the backing of supporters but Nair claims Ng can be trusted to look after the club.
"I think they can have faith in this man," the journalist said. "I understand fans' fears about another businessman who says he has always supported the club, but friends around him maintain he has had a lifelong passion for Rangers from the first game he saw, the 1972 Cup Winners Cup final.
"For him it's not, if the Rangers bid doesn't work he will look for another club to buy, it's either Rangers or some other business venture for him. "It's not just a business investment, he has always maintained it's been a childhood dream of his to take over such a big club and turn it around because he feels its current predicament is not worthy of a club of such stature."
Meanwhile, Rangers manager Ally McCoist admits the ongoing uncertainty over the club's future is "really concerning and worrying" and called for a quick resolution to the bidding process.
He told Blues News: "There obviously have been developments and it looks like the preferred bidder status has moved away from the Blue Knights and perhaps headed to either the American bid or the Singaporean bid.
"Obviously, like all Rangers fans, I think the sooner the preferred bidder status is announced would be a big, big step in the right direction.
"The uncertainty and the lack of clarity about the future is obviously really concerning and worrying for everyone, be that players, staff or fans.
"I can totally understand everybody's concern and that's why I'm hopeful that it will be sooner rather than later.
"I won't lie to you. I'm really concerned and really worried because we have a lot of planning to do.
"We have pre-season games and hopefully we'll try to arrange pre-season tours. All these things and players coming and going makes it concerning." (SOURCE)