M'sia's 40 richest worth RM193.2bil: Forbes
Published on: Friday, March 02, 2012
SINGAPORE: Malaysia's 40 richest are worth a total of RM193.2 billion, up RM6.9 billion from the year before, according to the latest Forbes list.Most of the country's biggest fortunes didn't change much over the past year.Robert Kuok retains his title as Malaysia's richest person with a net worth of RM37.2 billion, down slightly from RM37.5 billion the year before.
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Kuok, 88, has held the top position since 2006 when Forbes Asia began ranking the 40 richest Malaysians, with his vast empire spanning sugar, palm oil, shipping and property.In second place is Ananda Krishnan, 73, who saw his net worth rise RM1.2 bil to RM29.7 billion. He is shopping around his entire power portfolio in Malaysia, South Asia and the Middle East in a deal that could raise RM6 billion. His Maxis Communications, the country's biggest cellphone service provider, recently inked a 10-year deal to share its 3G network with rival Umobile.
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In third place is Lee Kim Hua, whose net worth fell just 1.5 per cent to RM19.5 billion. The family behind the Genting gambling empire is making news with its high-profile attempts to expand operations in the US.
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Lee's son, Lim Kok Thay, who runs the Genting Group, saw his fortune slip nine per cent to RM1.815 million.Lee Shin Cheng, who built IOI Group into one of the world's biggest palm oil producers, retains his spot at No. 4 with a net worth of RM15.6 billion, up by RM600 million from last year.Malaysia now has 11 billionaires, up from 10 last year, as brothers Lee Oi Han and Lee Hau Hian, who control palm oil and chemical company Batu Kawan, saw their net worth climb into the ten-figure ranks. Their fortune jumped 22 per cent as shares in Batu Kawan rose on higher palm oil prices.Three newcomers debuted on the list, notably Ninian Mogan Lourdenadin, a doctor turned retail magnate who is ranked at No. 22 with a RM1.5 billion net worth. He is Group CEO of MBF Holdings and runs a property, retail, leisure and medical services business empire that stretch from Malaysia to Fiji, Papua New Guinea and Australia. Another newcomer to the list is Gooi Seong Lim who heads Crescendo, a property development and construction company. He is ranked No. 34 with a net worth of RM660 million. Ng Joo Siang, also made it to the list for the first time at No. 37 with a networth of RM555 million. The 52-year old took over Pacific Andes International Holdings, a family business from his father.In addition to the three new entries, two members returned to the list: Kua Sian Kooi, Executive Chairman of auto insurer Kumia Asia with a net worth of US$160 million; and Khoo Kay Peng, Chairman of Malayan United Industries, with a net worth of RM480 million.Overall, 21 of the tycoons on the list saw their fortune rise, while 12 suffered a drop and two remained even. This year, a minimum net worth of RM465 million was needed to qualify for the list, up from RM375 million last year.Stay up-to-date by following Daily Express’s Telegram channel.
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