The top 10 richest in Malaysia list Malaysian Business magazine

The top 10 richest in Malaysia list:

1. Robert Kuok, US$10 billion.

2. Ananda Krishnan, US$7.2 billion.

3. Lee Shin Cheng, US$5.5 billion.

4. Teh Hong Piow, US$3.5 billion.

5. Lee Kim Hua & family, US$3.4 billion.

6. Quek Leng Chan, US$2.4 billion.

7. Yeoh Tiong Lay & family, US$2.1 billion.

8. Syed Mokhtar Al-Bukhary, US$1.8 billion.

9. Vincent Tan, US$1.3 billion.

10. Tiong Hiew King, US$1.1 billion.

The third richest in the list is IOI Corporation’s group executive chairman Tan Sri Lee Shin Cheng who was ranked fourth last year but as the oil palm plantation giant soared in value, his wealth rose from US$1.6 billion to US$5.5 billion, Among the newcomers is Datuk Nazir Razak, group chief executive of CIMB Group and the youngest son of second Prime Minister, the late Tun Abdul Razak Hussein. Nazir managed to scrape into the 40th position as the last richest Malaysian in Forbes Asia’s top 40 with a net worth of US$100 million.

KUALA LUMPUR, Feb 15 (Bernama) — 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 Feb 16 issue puts Kuok’s wealth at RM58.11 billion, which accounts for nearly 36 percent 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 Bhds 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.

The full list of the 40 tycoons and details of their wealth appears in the magazines Feb 16 issue. Their wealth was assessed based on the value of their stakes in listed companies as at Jan 18, 2008,” the magazine said.

– BERNAMA