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Robert Kuok Tops Malaysia’s Richest Ranks For 10th Year In A Row

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Tan Sri Robert Kuok and several other business tycoons retained their positions in the latest Forbes Malaysia Rich List, despite a dent in their net value due to a slump in oil prices and the Ringgit.

Kuok, 91,whose businesses include palm oil, sugar, shipping, real estate and hotels, retained the top spot for the 10th consecutive year.

His net worth, however, dropped US$200mil (RM718mil) to US$11.3bil (RM40.6bil).

The Kuok Group controls several listed companies in Hong Kong, Malaysia and Singapore, Forbes said.

He was followed by Ananda Krishnan with a net worth of US$9.7bil, Tan Sri Quek Leng Chan (US$5.6bil), Tan Sri Lim Kok Thay (US$5.5bil), Tan Sri Teh Hong Piow (US$5.4bil), Tan Sri Lee Shin Cheng (US$4.6bil), Tan Sri Yeoh Tiong Lay (US$3bil), Tan Sri Syed Mokhtar AlBukhary (US$2.9bil), Goh Peng Ooi (US$1.55bil), as well as Tan Sri Lee Oi Hian and Datuk Lee Hau Hian, who together are worth US$1.45bil.

Telecoms mogul Ananda Krishnan, saw his wealth drop by US$1.6bil (RM5.7bil) to US$9.7bil (RM34.9bil), partly because of a slump in the shares of Bumi Armada, his offshore oilfield services provider.

Telecom assets make up more than half his wealth, led by his controlling stake in Maxis, said Forbes.

Tan Sri Quek Leng Chan moved up to third spot from fourth previously, despite his net worth slipping by US$800mil (RM2.8bil) from a year ago to US$5.6bil (RM20.1bil).

His privately held Hong Leong Co., holds stakes in sectors from food to finance, on top of investments in oil and gas, alongside stakes in Indonesia’s Samudra Energy, Malaysia’s Scomi Energy Services, Alam Maritim Resources and Singapore’s Ezion, a supplier of support vessels for oil fields.

The list, has four new faces, namely, real estate tycoon Khoo Cheng Hai at number 45 with a net worth of US$285mil (RM1.02bil) and who made it to the list after shares of his KSL Holdings doubled; packaging specialist Lim Teck Meng of Scientex (46th place, US$280mil/RM1bil); oil-ship fabricator Ng Chin Heng (47th place, US$275mil/RM988mil) of Coastal Contracts, real estate tycoon and co-founder of United Overseas Australia, Kong Chong Soon (50th place, US$240mil/RM862mil).

Casino tycoon Tan Sri Lim Kok Thay of Genting Group took the fourth spot with a net worth of US$5.5bil (RM19.8bil), down from US$6.5bil (RM23.36bil) last year, as China’s economic moderation affected the region’s casino gaming and entertainment sector.

The wealth of some on the list was affected severely, especially those with significant investments and ties to the oil sector.

Tan Sri Mokhzani Mahathir, an investor in oil and gas services provider, SapuraKencana Petroleum, saw his net worth fall to US$700mil (RM2.5bil) from US$1.2bil (RM4.3bil) last year.

However, it was not all bad news for Malaysia’s richest.

Tan Sri Lau Cho Kun, the Sabah-based tycoon, reached the billionaire ranks as Malaysia’s 15th richest, amid a robust plantation and trading revenue with a net worth of US$1.08bil (RM3.88bil).

He holds the largest stake in Hap Seng Consolidated Bhd.

Software tycoon Goh Peng Ooi saw his net worth increase by some $450mil (RM1.6bil) to US$1.55bil (RM5.57bil) and is the ninth wealthiest businessman in Malaysia.

His Silverlake Axis now provides financial software for 40% of Southeast Asia’s banks.

The minimum net worth to make the list this year was US$240mil (RM862mil), up from US$220mil (RM790mil).

The complete list can be found at www.forbes.com/malaysia as well as the latest issue of Forbes Asia. – Bernama

Malaysia’s 10 richest people are:
1) Tan Sri Robert Kuok, US$11.3bil (RM40.6bil)
2) Ananda Krishnan, US$9.7bil (RM34.9bil)
3) Tan Sri Quek Leng Chan, US$5.6bil (RM20.1bil)
4) Tan Sri Lim Kok Thay, US$5.5bil (RM19.8bil)
5) Tan Sri Teh Hong Piow, US$5.4bil (RM19.4bil)
6) Tan Sri Lee Shin Cheng, US$4.6bil (RM16.5bil)
7) Tan Sri Yeoh Tiong Lay, US$3bil (RM10.8bil)
8) Tan Sri Syed Mokhtar Al-Bukhary, US$2.9bil (RM10.4bil)
9) Goh Peng Ooi, US$1.55bil (RM5.57bil)
10) Tan Sri Lee Oi Hian and Datuk Lee Hau Hian, US$1.45bil (RM5.2bil)

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