MALAYSIA'S 40 RICHEST WEALTH SOARS 42 PER CENT TO US$51 BILLION

Malaysia's 40 Richest Wealth Soars 42 Per Cent To US$51 Billion

SINGAPORE, May 27 (Bernama) -- Malaysia's top 40 richest are worth US$51 billion, up from US$36 billion a year ago, and higher than the previous record of US$46 billion registered in 2008.

According to Forbes Asia in its Malaysia Rich List 2010 released Thursday, their combined wealth has risen by 42 per cent, spurred by the country's economic expansion.

The overall increase in wealth was also in line with the 32 per cent rise in the Kuala Lumpur Composite Index, and the Malaysian ringgit's 11 per cent gain against the US dollar over the past 12 months, Forbes said.

Topping the rich list again is Tan Sri Robert Kuok who has held the pole position since 2006 when Forbes Asia began ranking the 40 richest Malaysians.

Forbes said the biggest gainer in dollar terms this year, the 86-year-old tycoon's net worth increased to US$12 billion, a gain of US$3 billion over last year.

Top telecommunications tycoon Ananda Krishnan remains in second place with US$8.1 billion, an increase of US$1.1 billion from a year ago.

His Maxis Communications, Malaysia's largest mobile phone service provider, went public last year and raised US$3.4 billion in the country's largest-ever IPO.

Unchanged at third position is Tan Sri Lee Shin Cheng with US$4.6 billion, up from US$3.2 billion last year.

The 71-year-old heads IOI Group, one of the world's leading operators of palm oil refineries. The company is reportedly investing US$300 million to expand.

Forbes said the top three tycoons were not the only ones who saw gains in their wealth, 27 others on the list also registered growth in their net worths, particularly notable is technology tycoon Goh Peng Ooi, ranked No. 16, who enjoyed the biggest percentage jump.

His fortune increased to US$425 million from US$112 million previously, a massive jump of 280 per cent.

Forbes said this year a minimum net worth of US$110 million was needed to qualify for the list, up from US$90 million last year.

It said the number of billionaires had also increased, with now 10 tycoons with a ten-figure net worth, compared with nine a year ago.

Newcomers making the rich list this year included brothers Datuk Shahril and Shahriman Shamsuddin who shared the No. 23rd spot with a net worth of US$270 million.

They have equal stakes in Sapura Group, founded by their father.

Shahril is chief executive of its affiliate SapuraCrest Petroleum, the listed oil and gas contractor that makes up the bulk of their fortune.

Another new face is self-made building contractor Datuk A K Nathan, 54, who is ranked No. 24 and worth US$250 million.

His company, Eversendai, has been involved in some of the most high-profile buildings in the Middle East including Dubai's Burj Khalifa, the world's tallest building.

Forbes said three people were back on the list after having fallen off previously, and the most notable is Datuk Seri Nazir Razak, Malaysian Prime Minister Datuk Seri Najib Tun Razak's brother and head of financial services firm CIMB.

He is ranked No. 32nd with a net worth of US$145 million.

The top 10 richest and billionaires in Malaysia are:

1) Tan Sri Robert Kuok; US$12 billion

2) T. Ananda Krishnan; US$$8.1 billion

3) Tan Sri Lee Shin Cheng; US$4.6 billion

4) Puan Sri Lee Kim Hua; US$3.9 billion

5) Tan Sri Quek Leng Chan; US$3.85 billion

6) Tan Sri Teh Hong Piow; US$3.8 billion

7) Tan Sri Yeoh Tiong Lay; US$2.5 billion

8) Tan Sri Syed Mokhtar AlBukhary; US$1.7 billion

9) Tan Sri Vincent Tan; US$1.6 billion

10) Tan Sri Tiong Hiew King; US$1.2 billion

The full list of Malaysia's richest can be found in the June 2010 issue of Forbes Asia, which is available on newsstands now.

 

FULL LIST:

 

1. Robert Kuok
2. Ananda Krishnan
3. Lee Shin Cheng
4. Lee Kim Hua
5. Quek Leng Chan
6. Teh Hong Piow
7. Yeoh Tiong Lay
8. Syed Mokhtar AlBukhary
9. Vincent Tan
10. Tiong Hiew King
11. Azman Hashim
12. Lee Oi Hian & Lee Hau Hian
13. Yaw Teck Seng & Yaw Chee Ming
14. Lim Wee Chai
15. William H. J. Cheng
16. Goh Peng Ooi
17. Lim Kok Thay
18. Jeffrey Cheah
19. Anthony Fernandes
20. G. Gnanalingam
21. Kamarudin Meranun
22. Chan Fong Ann
23. Shahril & Shahriman Shamsuddin
24. A.K. Nathan
25. Chong Chook Yew
26. Mokhzani Mahathir
27. Ahmayuddin bin Ahmad
28. Lau Cho Kun
29. Chen Lip Keong
30. Lee Swee Eng
31. Liew Kee Sin
32. Nazir Razak
33. Eleena Azlan Shah
34. Ong Leong Huat
35. Rozali Ismail
36. Kua Sian Kooi
37. Lin Yun Ling
38. David Law Tien Seng
39. Abdul Hamed Sepawi
40. Syed Mohd Yusof Tun Syed Nasir