Friday, March 2, 2012

Malaysia has 11 billionaires

MALAYSIA'S 40 richest are worth a total of US$64.4 billion (RM193.2 billion), up US$2.3 billion (RM6.9 billion) from the year before, according to the latest Forbes list.

The fortunes of most of the country's wealthiest, however, did not change much over the past year.

Robert Kuok is still the richest Malaysian with a net worth of US$12.4 billion (RM37.2 billion), slightly lower than US$12.5 billion (RM37.5 billion) before.

In second place is T. Ananda Krishnan, who saw his net worth rise US$400 million to US$9.9 billion (RM1.2 billion to RM29.7 billion).

He is said to be looking for buyers for his entire power portfolio in Malaysia, South Asia and the Middle East in a deal that could raise US$2 billion (RM6 billion).

The widow of casino magnate Tan Sri Lim Goh Tong, Puan Sri Lee Kim Hua, is the third richest Malaysian.

Her net worth fell just 1.5 per cent to US$6.5 billion (RM19.5 billion).

IOI Group's Tan Sri Lee Shin Cheng retained the fourth place with a net worth of US$5.2 billion (RM15.6 billion), up US$200 million (RM600 million) from last year.

At the fifth place is Tan Sri Teh Hong Piow with a net worth of US$5 billion (RM15 billion), while Tan Sri Quek Leng Chan holds the sixth position with a net worth of US$4.2 billion (RM12.6 billion).

Tan Sri Syed Mokhtar AlBukhary is at number seven with a net worth of US$3.3 billion (RM9.9 billion), while Tan Sri Yeoh Tiong Lay comes next with a net worth of US$2.6 billion (RM7.8 billion).

Tan Sri Tiong Hiew King of Rimbunan Hijau group is Malaysia's ninth richest person with a net worth of US$1.5 billion (RM4.5 billion).

Tan Sri Vincent Tan rounded up the top 10 list with a net worth of US$1.2 billion (RM3.6 billion).

According to Forbes Asia, Malaysia now has 11 billionaires, up from 10 last year, as brothers Datuk Lee Oi Han and Datuk Lee Hau Hian who control palm oil and chemical company Batu Kawan Bhd saw their net worth rose by 22 per cent.

Three newcomers made their debut on the list. One of them is MBF Holdings chief executive officer Tan Sri Dr Ninian Mogan Lourdenadin, who is ranked at number 22 with a net worth of US$500 million (RM1.5 billion). 

Another newcomer to the list is Crescendo Holdings Bhd managing director Gooi Seong Lim at number 34 with a net worth of US$220 million (RM660 million).

Ng Joo Siang of Pacific Andes International Holdings is ranked at number 34 with a net worth of US$185 million (RM555 million).

Two members made a comeback to the list and they are the executive chairman of Kurnia Asia Tan Sri Kua Sian Kooi with a net worth of US$160 million (RM480 million) and Malayan United Industries chairman Tan Sri Khoo Kay Peng with a net worth of US$125 million (RM375 million).

This year, a minimum net worth of US$155 million (RM465 million) was needed to qualify for the list, up from US$125 million last year.

Read more: Malaysia has 11 billionaires

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