Thursday, May 22, 2008

Forbes' Top 40 Richest Malaysians

C&P from here. Guess how many of them are the proxies and/or lobbyists of BN/UMNO?

Special Report
Malaysia's Richest
05.21.08, 11:00 PM ET

RankNameNet Worth ($MIL)Age
1 Robert Kuok10.00 84
2 Ananda Krishnan7.20 70
3 Lee Shin Cheng5.50 69
4 Teh Hong Piow3.50 78
5 Lee Kim Hua & family3.40 79
6 Quek Leng Chan2.40 67
7 Yeoh Tiong Lay & family2.10 78
8 Syed Mokhtar AlBukhary1.80 56
9 Vincent Tan1.30 56
10 Tiong Hiew King1.10 78
11 Azman Hashim0.70 68
12 William H. J. Cheng0.66 65
13 Lee Swee Eng0.50 52
14 Ong Beng Seng0.47 63
15 Lim Kok Thay0.35 56
16 Vinod Sekhar0.32 40
17 Lee Oi Hian0.30 57
18 Yaw Teck Seng0.30 70
19 Anthony Fernandes0.29 44
20 Mokhzani Mahathir0.29 47

The 40 Richest Malaysians
Suzanne Nam 05.21.08, 11:00 PM ET

Complete List
The Cheetah
By The Numbers:
Malaysia's Very Richest

The bar has been lowered. Malaysia's 40 Richest needed a net worth of only $100 million to make the list this year, down from $127 million in 2007, despite the fact that the Malaysian ringgit gained 6% against the U.S. dollar, the currency in which their fortunes are measured.

Caught up in the global equities slide, the Kuala Lumpur Composite Index was off 8% in the past year but has fallen 15% since mid-January. While 16 people still managed to add to their fortunes, another 18 saw their net worth slip.

Some tumbled considerably, with seven losing one-fourth or more of their fortune. That includes Lim Wee Chai, head of rubber glove manufacturer Top Glove, and Yaw Teck Seng, founder of forest group Samling, both worth one-third less than a year ago.

In Pictures: The Richest Malaysians

The total net worth of the top 40 is $46 billion, up $3 billion from last year. But that figure is skewed by strong gains by three tycoons who are up a combined $4.9 billion.

The year's biggest gainer was Robert Kuok, again the country's richest person; his fortune jumped $2.4 billion to $10 billion. That was on top of a $2 billion gain the previous year. Lee Shin Cheng, ranked third, adding $1.9 billion. Both businessmen got boosts from their valuable holdings in palm oil producers Wilmar International and IOI, respectively.

Vincent Tan's fortune has more than tripled in just a year, thanks mostly to gains in the share price of his Berjaya Land and flagship Berjaya Corp., pushing him into the billionaire ranks and bringing the country's total number of billionaires up to 10.

Lee Swee Eng is up in part because we added in the value of the shares held by his wife, Gan Siew Liat, who works with him at oil services company KNM. But even without her, his fortune would have increased, as KNM's stock price almost doubled in the past year.

Three newcomers made the cut. The richest is Lee Kim Hua, widow of renowned gaming tycoon Lim Goh Tong, who died in 2007. David Law Tien Seng makes his debut thanks to his stake in Australian iron ore company Midwest.

Grabbing the No. 40 spot is Nazir Razak, son of the nation's second prime minister, who heads financial services firm CIMB. Kasi K.L. Palaniappan and Mustapha Kamal Abu Bakar lost their spots on the list, as shares in real estate developer MK Land Holdings, which makes up most of their wealth, are trading at just a third of their price, compared with last year.

Although we don't usually put royalty on the list, U.K.-trained lawyer Seri Eleena Raja Azlan Shah, whose father is a sultan, returns, thanks to her chunk of infrastructure company Gamuda, on whose board she sits.

For people with publicly traded fortunes, net worths were calculated using share prices and exchange rates from May 9. For privately held fortunes, we used database company BRIS and other sources to estimate what companies and assets were worth if public.

In Pictures: The Richest Malaysians

Big Winners

Not every big investor in Malaysia has been dragged underwater by the 5% overall drop in the KLCI share index. Indeed, these stocks, owned by seven rich list members, have bucked the trend and posted impressive gains. All but one of these companies, Wilmar, trade in Malaysia.

Berjaya Corp.Vincent Tanreal estate163%
KNM GroupLee Swee Engoil services93%
Wilmar InternationalRobert Kuokpalm oil61%
IOILee Shin Chengpalm oil35%
Kuala Lumpur KepongLee Oi Hian, Lee Hua Hiandiversified26%
KencanaMokhzani Mahathirpetroleum22%
Parkson HoldingsWilliam ChengChina retail21%

Twelve-month gain is from May 11, 2007 to May 9 of this year.

1 comment:

Iamwhoiam said...

The Chinese Malaysian tycoon Robert Kuok made his money in sugar, palm oil, shipping and property. And he did share his point of view on how to make money during Kuok Group’s 60th Anniversary called “Robert Kuok Hock Nien notes on the past sixty years”, read it at: