Wealth of 40 richest M'sians rises to RM188 bil
The 40 wealthiest Malaysians are worth US$62.1 billion, up by US$11.1 billion (US$1=RM3) compared with last year, according to the latest rich list published by Forbes Asia .
The 40 wealthiest Malaysians are worth US$62.1 billion, up by US$11.1 billion (US$1=RM3) compared with last year, according to the latest rich list published by Forbes Asia .
In a statement today, Forbes Asia said the combined wealth was almost 22 percent more than the list in 2010.
"The better coffers come on the back of the country’s healthy economy which grew 7.2 percent last year, the highest rate since 2000," it said.
The first two spots were still occupied by Robert Kuok Hock Nien and Ananda Krishnan, respectively.
Kuok (
left
), 87, has held the pole position since 2006 when
Forbes Asia
began ranking the 40 richest Malaysians.
He is worth US$12.5 billion, up by half a billion from last year.
His biggest source of wealth is his stake in Wilmar International, the world’s largest listed palm oil company.
Ananda, 72, is at No 2 with US$9.5 billion, up from US$8.1 billion last year.
His Maxis Communications Bhd is Malaysia’s biggest cellphone service provider.
Recently he took three of his companies private: satellite broadcaster Astro All Asia Networks plc, power and gambling company Tanjong plc, and satellite operator Measat Global Bhd.
Mokhzani is at 15 with RM1.7 bil
At No 3 is this year’s biggest gainer in dollar terms, Lee Kim Hua.
The 81-year-old widow of casino magnate Lim Goh Tong, she is one of three women on the list this year.
Her Genting shares took off when the company’s Singapore operations on Sentosa Island opened, boosting the family’s net worth by US$2.7 billion to $6.6 billion from a year ago.
Lee Shin Cheng, who built IOI Group into one of the world’s biggest palm oil producers, is down one spot at No 4 with a net worth of $5 billion, up by US$400 million from last year.
AirAsia Bhd’s Tony Fernandes ( left ), budget airline pioneer and Forbes Asia 's 2010 Businessman of the Year, is ranked No 20 this year, down one spot from last year despite his wealth increasing to US$470 million from $330 million last year.
His partner in AirAsia, Kamarudin Meranun, ranks higher at 18 with $495 million.
Other rich Malays include Mokhzani Mahathir, son of former prime minister Mahathir, at No 15 ($560 million), Azman Hashim of AmBank Group at No 11 ($785 million), and brothers Shahril and Shahriman Shamsuddin of Sapura Group at No 17 with ($500 million).
AK Nathan, of Kuala Lumpur contractor Eversendai which fabricates, designs and erects the steel frames for big buildings, mostly in the Gulf, is at No 14 ($600).
The only newcomer this year is Chia Song Kun at No 24 with US$400 million.
The share price of his QL Resources Bhd, the seafood, egg production and palm oil company, has doubled since last year.
Tony Tiah Thee Kian at No. 35 is the only returnee to the list after a year’s absence as stocks in his TA Enterprise Bhd has recovered. He is worth $170 million.
Not all did well as there were three this year who saw their wealth reduced, led by Vincent Tan Chee Yioun at No. 9.
The self-made entrepreneur, who runs Berjaya Group, saw his wealth declined to $1.25 billion from $1.6 billion last year.
No changes to Tiong's wealth
Timber tycoon Tiong Hiew King (
left
) was the only person who did not see any changes to his wealth. He is still worth $1.2 billion and is ranked No 10 on the list.
This year, a minimum net worth of US$125 million was needed to qualify for the list, up from $110 million last year. The number of billionaires on the list remains unchanged from last year at 10.
There are six octogenarians on the list this year.
The oldest, at 88, is widow Chong Chook Yew who comes in at No. 29 with a wealth of US$300 million.
Stocks in her company, Selangor Properties Bhd, hit a three-year high in January this year on news of a possible mass transit development near one of the company’s land banks.
This pushed her wealth up by US$70 million from last year.
