News Headlines
Robert Kuok tops list of richest Malaysians
Bernama (Business Times) - 18 Feb 2008
Malaysian Business in its February 16 issue puts Kuok’s wealth at RM58.11 billion, accounting for nearly 36 per cent of the total wealth of the 40 richest SUGAR King Tan Sri Robert Kuok Hock Nien remains the richest Malaysian, ahead by a wide margin from closest rival T. Ananda Krishnan, according to Malaysian Business magazine’s list of 40 Richest Malaysians. The magazine in its February 16 issue puts Kuok’s wealth at RM58.11 billion, which accounts for nearly 36 per cent of the total wealth of the 40 richest. The Hong Kong-based tycoon added a whopping RM25.7 billion to his vast fortune last year, due to the higher equity prices of his stable of listed stocks. It said Ananda Krishnans fortune, however, registered a marginal drop to RM19.63 billion. IOI Corporation Bhd's Tan Sri Lee Shin Cheng, said the magazine, has for the first time etched himself in the top three position of Malaysia's richest by doubling his fortune to RM14.94 billion. Others in the top-10 ranking are Tan Sri Quek Leng Chan of Hong Leong Group (RM11.098 billion), Tan Sri Syed Mokhtar Albukhary of the Albukhary Foundation (RM8.550 billion), Tan Sri Teh Hong Piow of Public Bank (RM8.060 billion), Tan Sri Lim Kok Thay of Genting (RM3.168 billion) and Tan Sri Tiong Hiew King of the Rimbunan Hijau Group (RM3.87 billion). The magazine said two tycoons found their way to the Top-10 - Tan Sri Vincent Tan of Berjaya Group (RM3.409 billion) and Tan Sri Azman Hashim of Amcorp Group (RM2.87 billion). “They dislodged YTL Corp patriarch Tan Sri Yeoh Tiong Lay who slips to 13th position (RM1.747 billion),” it said. Among the notable new entrants to the list is Singapore-based Ong Beng Seng who, at RM1.74 billion, ranks number 14. The others are Datuk Tony Tiah Thee Kian of TA Enterprise Bhd, Datuk Seri Lau Cho Kun of Gek Poh Holdings, Datuk Lin Yun Ling of Gamuda Bhd, Datuk Seri Liew Kee Sin of SP Setia Bhd and Kwan Ngen Chung of Kwantas Corporation Bhd. "Their wealth was assessed based on the value of their stakes in listed companies as at January 18, 2008,” the magazine said.