Three new faces among Malaysia’s top 10 richest

0

KUALA LUMPUR: Three new faces are among the top ten richest Malaysians in Malaysian Business’ 40 richest Malaysians 2015 list.

They are Sabah-born Ong Beng Seng, who jumps to seventh spot from 12th, Rimbunan Hijau Group’s shareholder Tan Sri Tiong Hiew King (ninth from 11th) and Hap Seng Consolidated Bhd’s shareholder Tan Sri Lau Cho Kun (10th from 14th).

Ong, the founder of Singapore’s Hotel Properties Ltd, is worth RM6.63 billion this year, an increase of RM3.53 billion.

Tiong and Lau’s wealth were calculated at about RM5.10 billion and RM4.90 billion respectively, Malaysian Business said in a statement yesterday.

Hong Kong-based Robert Kuok Hock Nien, through his flagships Kerry Group and Kuok Group, remains the wealthiest tycoon this year and has been holding the top spot for most of the past 14 years when the tabulation began.

Malaysian Business said Kuok’s wealth, however, decreased quite significantly to RM41.35 billion this year from RM54.48 billion in 2013.

Telecommunications king, T. Ananda Krishnan, maintains his second position where he has been since 2004, with his assets held via Usaha Tegas Sdn Bhd worth RM35.50 billion.

In the third place was Genting Malaysia Bhd chairman and chief executive Tan Sri Lim Kok Thay who jumps from seventh position last year. His wealth is valued at RM25.35 billion.

Hong Leong Group chairman Tan Sri Quek Leng Chan stays at the fourth position with assets worth RM20.42 billion, while founder and chairman of Public Bank Tan Sri Teh Hong Piow drops two rungs to fifth.

Teh’s wealth, however, increased slightly from RM18.06 billion last year to RM18.17 billion this year.

IOI Group executive chairman Tan Sri Lee Shin Cheng occupies the sixth spot with RM13.45 billion in wealth.

Tan Sri Syed Mokhtar Albukhary is still the richest Bumiputera on the list despite his worth declining from RM11.07 billion to RM5.23 billion.

“The decrease can be attributable to the fact that he had taken five of his companies private in the past 12 months,” the statement said.

Malaysian Business said the combined wealth of Malaysia’s 40 richest individuals, indicated by the value of their listed assets as at Jan 16, 2015, rose by 6.2 per cent to RM236.56 billion from RM217.82 billion a year earlier. — Bernama