MALAYSIA'S 40 RICHEST PEOPLE RECORDED AN INCREASE IN THEIR FORTUNES AS THEY WERE COLLECTIVELY WORTH RM156.7 BILLION AS AT JAN 15, OR 63 PER CENT MORE THAN THE RM96.3 BILLION A YEAR AGO,

Malaysia's Richest Getting Richer, Magazine Survey Reveals

KUALA LUMPUR, Feb 16 (Bernama) -- Malaysia's 40 richest people recorded an increase in their fortunes as they were collectively worth RM156.7 billion as at Jan 15, or 63 per cent more than the RM96.3 billion a year ago, on the back of a recovery in the stock market, a "Malaysian Business" survey reveals.

However, according to the fortnightly magazine's survey results released in a statement Tuesday, their combined wealth was still less than the RM171.9 billion recorded in 2008.

The benchmark FBM KLCI has risen 44.3 per cent since its last survey as the world strives to get back on its feet following the global financial crisis.

The full list of the 40 tycoons and details of their wealth were published in the magazine's Feb 16 issue. As in the previous year, the wealth of the Top 40 was assessed based on the value of their stakes in listed companies as at Jan 15 this year.

The survey also revealed that close to half on this year's list recorded jumps of 50 per cent or more. There are also more billionaires this year - 22, eight more than last year.

Tan Sri Robert Kuok, the Kuok Group patriarch who relinquished his "Sugar King" crown last year, still tops the list with a wealth of RM42.76 billion, up RM16.1 billion from RM26.6 billion a year ago.

Media-shy and telecommunication tycoon Ananda Krishnan ranked second, clocking in at RM27 billion.

IOI Corporation Bhd's Tan Sri Lee Shin Chen was third with a wealth of RM11.92 billion, followed by prominent banker Tan Sri Teh Hong Piow at RM10.86 billion.

Genting Group's Tan Sri Lim Kok Thay, valued at RM10.38 billion, leapt a full 10 spots to five. This was because he assumed a large chunk of the wealth of his late father, Tan Sri Lim Goh Tong.

Hong Leong Group's Tan Sri Quek Leng Chan took the sixth spot at RM7.09 billion while Tan Sri Syed Mokhtar Albukhary of the Albukhary Foundation, valued at RM6.01 billion, settled at seventh.

Others in the Top-10 ranking were Lim Goh Tong's widow Puan Sri Lee Kim Hua, Tan Sri Tiong Hiew King of Rimbunan Hijau Group and Tan Sri Vincent Tan of Berjaya Group.

There were five newcomers to the list, namely Lee Swee Eng of KNM Group, brothers Datuk Shahril Shamsuddin and Shahriman Shamsuddin of Sapura, Datuk Seri Nazir Razak of CIMB Group and OSK Holdings' Ong Leong Huat, who makes a comeback to the list after a one-year absence.