KUALA LUMPUR, Feb 16 (Bernama) -- Robert Kuok, the sugar king who owns a
string of five-star hotels in the region, retained his position as the
richest individual in Malaysia with assets worth a staggering RM50.04
billion. with telecommunications tycoon T. Ananda Krishnan, who is worth
RM45.78 billion, coming in a close second.
In third place is Public Bank chairman Tan Sri Teh Hong Piow, who moved
up one notch with a fortune of RM12.77 billion, said the Malaysian
Business magazine based on a survey of the 40 richest individuals in the
As in previous years, the wealth of the country's top 40 individuals was
assessed based on the value of their stakes in listed companies.
The survey also revealed Malaysia's 40 richest individuals were
collectively worth RM206.27 billion as at Jan 21, up 30 per cent
compared with RM156.7 billion last year, boosted by the bullish stock
market and an expanding economy.
"The overall increase is in tandem with the 20 per cent rise in the FBM KLCI benchmark," it said.
The magazine said Ananda Krishnan's wealth soared close to 70 per cent
following Maxis' higher valuations and his move to take private three of
his listed companies.
In fourth place was IOI Corporation Bhd's Tan Sri Lee Shin Cheng who is
worth RM12.74 billion, followed by Genting Group's Tan Sri Lim Kok Thay
who was unchanged at number five and valued at RM10.89 billion.
Hong Leong Group's Tan Sri Quek Leng Chan took sixth spot with a
fortune of RM10.75 billion, while ranking seventh was Bumiputera
entrepreneur Tan Sri Syed Mokhtar Albukhary of the Albukhary Foundation,
who was valued at RM8.84 billion.
Tan Sri Lim Goh Tong's widow, Puan Sri Lee Kim Hua, returned to the
eighth spot with a fortune estimated at RM7.43 billion while Tan Sri
Tiong Hiew King of Rimbunan Hijau Group was unchanged at ninth with a
fortune of RM4.77 billion.
Singapore-domiciled tycoon, Ong Bee Seng, claimed the 10th spot, with
assets worth RM3.98 billion, followed by AmBank Group chairman Tan Sri
Azman Hashim with RM3.93 billion.
Berjaya Group's Tan Sri Vincent Tan took the 12th spot with assets worth RM2.43 billion.
Other individuals who are in the top 20 richest man circle in the
country are Datuk Lee Yeow Chor and Lee Yeow Seng of IOI Group, Datuk
Seri Lee Oi Hian and Datuk Lee Hau Hian of Batu Kawan, Tan Sri Yeoh
Tiong Lay of YTL Group, Tan Sri Lau Cho Kun of Hap Seng Consolidated,
Datuk Mokhzani Mahathir of Kencana Petroleum and Tan Sri Jeffrey Cheah
of Sunway Group.
There were three newcomers to the list, with two making a first-time
entry, who were Tan Sri Leong Hoy Kum of Mah Sing Group Bhd, Datuk Seri
Stanley Thai of Supermax Corporation Bhd and Datuk Tan Heng Chew of Tan
Chong Holdings Bhd.
The full list of the 40 tycoons and details of their wealth appears in
the magazine's Feb 16th issue which also presents a list of the 10
richest tycoons on the ACE market.