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Khamis, 18 Februari 2010

TOP Of Malysia's 40 Richest!!

KUALA LUMPUR, June 3 — By now it is no surprise that the rich around the world are getting poorer. Malaysia is no exception: Its 40 wealthiest are worth US$36 billion (RM126 billion), down from US$46 billion a year ago. That loss is largely in line with the 21 per cent drop in the Kuala Lumpur Composite Index and not too bad considering the fact that the ringgit has lost 10 per cent against the US dollar, the currency in which net worths are measured.
Malaysia's billionaires continue to dominate. The country's two richest people, Robert Kuok and Ananda Krishnan, both again No. 1 and No. 2, are worth a combined US$16 billion and account for 44 per cent of the top 40's wealth. They are also the two richest people in Southeast Asia. The country's nine billionaires are worth US$30 billion, or 84 per cent of the total, the biggest wealth disparity among any of Forbes Asia's other rich lists. Vincent Tan is the only Malaysian to have dropped out of the billionaire ranks in the past 12 months as share prices in his companies declined.
There are signs of recovery. The nation's stock market index has been climbing in the past two months. Kuok's fortune is up US$2 billion since March, when he appeared on the world's billionaires list. Five other billionaires have posted a combined US$800 million in gains since then. Kua Sian Kooi grabbed the last spot on the list as a result of a big rally in his insurance firm Kurnia Asia's stock, up 50 per cent since the start of April.
Three newcomers debut, thanks to the discovery of better or new information. They include software executive Goh Peng Ooi, IOI board member Chan Fong Ann and gaming tycoon Chen Lip Keong, who operates a casino in Cambodia and a tourism business in Malaysia.
Four people have returned to the ranks after an absence of a year or more. Among them are Syed Mohd Yusof Syed Nasir and Tan Teong Hean, who cashed out of Southern Bank several years ago and are now making new investments.
Among those who dropped off the list are several tycoons who barely missed the cut, including CIMB Bank's Nazir Razak and OSK finance group's Ong Leong Huat. Malaysian citizen Ong Beng Seng, who has lived in Singapore for decades, is wealthy enough to qualify but stands to be listed among that nation's 40 richest in September, largely due to the fact that he and his wife, Christina, who is a citizen of Singapore, share a number of holdings.
1 Robert Kuok US$9 billion diversified 85. Married, 8 children
Onetime rice, sugar trader heads multinational Kuok Group. Biggest source of wealth is stake in Wilmar International, palm oil outfit run by his nephew. Other big holdings are Hong Kong real estate group Kerry Properties, hotel operator Shangri-La Asia. Has an interest in South China Morning Post publisher. With Filipino tycoon Eduardo Cojuangco Jr's San Miguel, plans to spend up to US$1 billion to develop public land for farming to boost agricultural sector.
2 Ananda KrishnanUS$7 billion telecom 71. Married, 3 children
Runs Maxis Communications, Malaysia's largest cell phone service provider, with more than 10 million subscribers; took it private in June 2007 in US$12 billion deal, then sold 25 per cent to Saudi Telecom the same month. Last year sold Excel, the exhibition venue in London's Docklands, for reported US$230 million and bought 20 per cent stake in British regional newspaper chain Johnston Press, luckily a small holding, as stock has dropped more than 80 per cent since as it struggles with debt. Modern art collector, has homes in Kuala Lumpur, London and south of France; has a son who is a monk living in the forest.
3 Lee Shin Cheng US$3.2 billion palm oil 70. Married, 6 children
Former plantation field supervisor heads IOI Group, one of world's leading operators of palm oil plantations, refineries. Took its IOI Properties private in April. IOI's stock has doubled since November but still down a third since last year amid falling commodity prices.
4 Lee Kim Hua US$2.5 billion gaming 80. Widowed, 6 children
Widow of Lim Goh Tong, who transformed a jungle on outskirts of Kuala Lumpur into one of world's most successful casino resorts. Genting Group now run by her son Lim Kok Thay (No. 14) but inheritance held in trust to benefit Lee, her children and grandchildren.
5 Teh Hong Piow US$2.4 billion banking 79. Married, 4 children
Former bank clerk opened first bank in 1966. Now his Public Bank has 14,000 employees; branches throughout Malaysia, also in Cambodia, Laos, Sri Lanka, Hong Kong, China. Set up Public Islamic Bank as a subsidiary in November 2008. Donates to medical institutions and to the Malaysian Nature Society to fund planting of trees.
6 Quek Leng Chan US$2.3 billion diversified 68. Married, 3 children
Heads conglomerate Hong Leong GroupMalaysia, with interests in finance, entertainment, real estate. Bought 5 per cent stake in Mokhzani Mahathir's (No. 16) Kencana Petroleum and 3 per cent in Intercontinental Hotels Group last year. Family's GuocoLand is planning retail, residential, office projects in China. Inherited business from his father, one of 3 brothers to start a banking group in 1920s.
7 Yeoh Tiong Lay US$1.8 billion diversified 79. Married, 7 children
Founded YTL Corp, one of Malaysia's largest conglomerates, run by son Francis.
8 Syed Mokhtar Al Bukhary US$1.1 billion diversified 57. Married, 5 children
Former rice trader controls Malaysia Mining Corp. (MMC); has stakes in Malaysia's Johor Port, independent power producer Malakoff, natural gas distributor Gas Malaysia. Inking projects in Saudi Arabia, Jordan. Lost billionaire status earlier this year but back up top thanks to rebound of MMC stock. His Albukhary Foundation offers scholarships to students from poor countries to pursue college education in Malaysia.
9 Tiong Hiew King US$1 billion timber 74. Married, 4 children
Dubbed by some as Asia's Rupert Murdoch — his Chinese Media International has 5 newspapers, 30 magazines in Southeast Asia, Hong Kong, mainland China, Taiwan, North America. His Rimbunan Hijau, which means "forever green," has palm oil, timber assets. Big player in New Zealand, where he owns timber, property and fish farming companies; also in Papua New Guinea, where he has an English-language newspaper, hypermarkets and controversial logging operations.
10 Vincent Tan US$750 million diversified 57. Married, 11 children
Has run Berjaya, which means "success" in Malay, since 1984; interests in hotels, lotteries, real estate, finance. Operates 7-Eleven, Wendy's, Starbucks, Borders in Malaysia. Opened first Krispy Kreme store there in April. Also operates water and sewage treatment and sanitary landfills in Malaysia, Indonesia and China. Selling stake in moneylosing US eatery Roadhouse Grill; setting up a school in China.
11 Azman Hashim US$470 million finance 69. Married, 5 children
Longtime banking executive has been executive chairman of Amcorp since 1993. Malaysian financial services group. Opened Brunei operations in May. Chairman of the Malaysian Investment Banking Association. Loves scuba diving, painting and fast cars. A singer, has also recorded numerous albums.
12 William H.J. Cheng US$390 million retail 66. Married, 3 children
Runs the Lion Group, which has interests in plantations, steel, property. Though nicknamed "Steel King," biggest source of wealth is his indirect stake in Chinese retailer Parkson Retail, which he chairs. Also known as Cheng Heng Jem.
13 G. Gnanalingam US$260 million ports 64. Married, 3 children
Former tobacco and advertising executive cofounded, heads Westports Malaysia, one of nation's biggest ports. Private company valuation up because of better information from outside analysts; expects volume to contract for first time since it started as a container business in 1996. Has stake in transit hub KL Sentral.
14 Lim Kok Thay US$225 million gaming 57. Married, 3 children
Son of late Lim Goh Tong, has run Genting since 2003. Building gaming resort on Singapore's Sentosa Island, slated to open in 2010. His Star Cruises is working with Filipino tycoon Andrew Tan's Alliance Global to develop resort complex in Manila Bay.
15 Anthony Fernandes US$220 million airlines 45. Married, 2 children
Perennially optimistic travel tycoon on move during recession. His AirAsia, region's largest budget airline, adding flights to Bali, Taipei; secured debt financing for 15 new planes. Stock down just 2 per cent in past year. Its two-year-old long-haul discount airline AirAsia X began flying from Kuala Lumpur to London in March; Richard Branson is an investor.
16 Mokhzani Mahathir US$215 million oil services 48. Married, 5 children
Son of former PM Mahathir Mohamad runs petroleum company Kencana; former chairman switched roles and was redesignated chief executive in September. Investors include Quek Leng Chan (No. 6). Recently became chairman of fibre optic cable outfit Opcom Holdings, replacing his brother, its founder, who was named deputy international trade and industry minister. Also Malaysian Grand Prix chief, authorised Porsche dealer.
17 Lee Oi Hian US$210 million diversified 58. Married, 4 children
Chief executive of Kuala Lumpur Kepong, involved in plantation, property, retail. Bought palm oil business, Ladang Perbadanan-Fima last year; disposed of stake in Barry Callebaut Malaysia. Its Crabtree & Evelyn brand being hit by economic downturn. Also chairs Malaysia Palm Oil Council, chemicals company Batu Kawan; serves as director of British chemicals maker Yule Catto & Co Plc.
18 Chan Fong Ann US$209 million palm oil 78. Married
Joined board of Lee Shin Cheng's palm oil group, IOI 1985; remains a non-executive director and one of its biggest individual shareholders with a nearly 3 per cent stake.
19 Kamarudin Meranun US$205 million airlines 48. Married, 5 children
Deputy chief executive of AirAsia, which he cofounded with Anthony Fernandes (No. 15). Also close partner with Tony in several other businesses including AirAsia X, in which he owns a bigger stake; Tune Hotels, which has 5 locations and is opening 7 more; and Tune Money.
20 Chong Chook Yew US$200 million real estate 87. Widowed, 4 children
Columbia University grad has run family's Selangor Properties since 2000. Stock down just 5 per cent in past year, buoyed by successful housing project in Claremont, Australia.
21 Chen Lip Keong US$195 million gaming 61.
Founded NagaCorp in 1995, the year he obtained 70-year gaming licence in Cambodia; eventually built country's largest gaming resort, NagaWorld. Listed in Hong Kong in 2006. Serves as economic advisor to Cambodia's prime minister. Controlling shareholder and president of Malaysia tourism company, Karambunai. Trained medical doctor, headed Composite Technology Research, aerospace outfit owned by Malaysian government, for 7 years.
22 Lee Swee Eng US$190 million oil services 53. Married
Runs KNM Group, which provides services and equipment to oil and gas industry; stock dropped by more than half in past year. In September announced joint venture with France's Prosernat to form KPN Gas Technology. Fortune includes shares belonging to wife, Gan Siew Liat, head of human resources.
23 Jeffrey Cheah US$185 million real estate 64. Married, 3 children
Accountant started local tin mining outfit in 1974. Became Sunway Group, with interests in property, infrastructure, education, hotel and health care. Bulk of fortune held in property arm Sunway City, which is expanding in China and India.
24 Lim Wee Chai US$180 million rubber gloves 51. Married, 2 children
With his wife, spent US$180,000 in savings in 1991 to start a business trading rubber gloves. Later moved into manufacturing. Now his Top Glove is one of world's largest producers, with 850 customers in 180 countries; claims to have 24 per cent global market share. Apparently benefiting from ageing population, medical threats like swine flu. Shares up 12 per cent in past year, more than 50 per cent year-to-date; fortune down because of lower value of personal property.
25 Ahmayuddin Ahmad US$175 million port 52. Married, 4 children
Board member of both transit hub KL Sentral and Westports, the port he cofounded with G. Gnanalingam (No. 13) and which counts Li Ka-shing's Hutchison Whampoa as an investor.
26 Lee Hau Hian US$174 million diversified 55. Married, 1 child
Son of late rubber baron Lee Loy Seng is managing director of Batu Kawan and board member of KLK, which brother Lee Oi Hian runs. Batu Kawan's stock has rebounded 30 per cent since October low, but still down for past year.
27 Lau Cho Kun US$165 million diversified 73. Married
Largest shareholder in tilemaker Malaysian Mosaics, bought out its stake in Hap Seng, with interests in plantations, property, credit finance. Hap Seng's auto division operates Mercedes-Benz dealerships that supply Samling Group, run by his son-in-law, with logging trucks and transportation vehicles. Has no position at either company.
28 Vinod Sekhar US$150 million rubber 41. Married, 2 children
Late father invented process to devulcanise used tyres so they can be recycled. Vinod has been working to commercialise it. Timberland is first footwear manufacturer to incorporate Green Rubber, to be used in two of the company's fall 2009 collections. Reportedly being tested by several tyre companies. Minor investors include Mel Gibson, Forbes family members and Bruce Willis, who sued last year for return of funds after company didn't go public but later settled. Valuation down because of market conditions and few exit strategies for small tech outfits.
29 Liew Kee Sin US$140 million real estate 50. Married, 4 children
Former banker joined real estate firm SP Setia in 1996 as a director and is now group's managing director. With partners, developing US$620 million urban project in Vietnam.
30 Tiah Thee Kian US$135 million real estate 61. Married, 5 children
Cofounder of TA Enterprise, with property, financial interests. Owns Radisson in Sydney; announced purchase of the Westin Melbourne. Returned to board in 2007 after 5-year ban tied to conviction for reporting irregularities on Malaysia bourse. Wife Tan Kuay Fong filled as chairman during interim and remains chief executive.
31 Rozali Ismail US$130 million infrastructure 53.
Got start in law, then Islamic banking. Now executive chairman of water treatment and distribution company Puncak Niaga. Initially rejected Selangor government's offer to buy out some of its water concessions but is still negotiating. Shareholder in TRIplc Bhd. and WWE Holdings; trading in both suspended because of profitability issues.
32 Lin Yun Ling US$115 million infrastructure 54. Married, 2 children
Managing director of infrastructure group Gamuda, which has investments in such places as Indochina, South Asia and the Middle East. Sold part of his stake last year.
33 Yaw Teck Seng US$113 million forestry 71. Married
Founder of Samling Group, one of world's biggest forestry companies. Depressed plywood prices and lacklustre housing demand have led to falling profits. Stock dropped nearly two-thirds in past year; down three-fourths since its public offering two years ago. Son Yaw Chee Ming, who runs the firm, is worth US$85 million, just missing cut.
34 Goh Peng Ooi US$112 million software 53.
Electronics engineer worked at IBM Malaysia for 9 years. In 1989 founded Silverlake Axis, which provides banking and financial services software to companies across the globe. Educated in Tokyo.
35 Eleena Azlan Shah US$110 million infrastructure 49. Married, 2 children
Trained as a lawyer in Britain. Set up her own firm in Malaysia in 1987. Her wealth comes from her being the largest individual shareholder in infrastructure firm Gamuda.
36 David Law Tien Seng US$105 million mining
Cashed out his stake in Australian iron ore mining company Midwest when China's Sinosteel took company private in September. Apparently involved in philanthropy projects in Malaysia.
37 Syed Mohd Yusof Syed Nasir US$100 million banking 61. Married, 3 children
Former chairman of Southern Bank, sold out in one of nation's biggest deals of 2006. Since then has bought shares in pipemaker YLI, which have since dropped. Has had better luck with investment bank K&N Kenanga, whose shares are up 63 per cent. Partnering with Ong Beng Seng to develop first Four Seasons hotel in Kuala Lumpur.
38 Hamdan Mohamad US$98 million infrastructure 53. Married, 2 children
Australian-educated engineer controls infrastructure conglomerate Ranhill. Took its Ranhill Utilities private last year in a US$290 million deal; recently sold nearly 5 per cent of Ranhill to an undisclosed buyer. Avid polo player.
39 Tan Teong Hean US$95 million banking 65. Married, 3 children
Chief executive director of Southern Bank for 23 years until it was bought out in 2006. Former MasterCard board member now chairs Singaporean smart card outfit Cassis International. Also chairman of Southern Capital Management and member of the Board of Trustees of the Malaysian Institute of Economic Research.
40 Kua Sian Kooi US$90 million insurance 56. Married, 4 children
Executive chairman of insurance firm Kurnia Asia, which claims to have 6,500 agents, 3.5 million policyholders in Malaysia. Leading provider of car insurance, looking to diversify. Stock up 50 per cent since start of April.
The list was compiled using shareholder and financial information provided by individuals themselves, stock exchanges, public documents and analysts. For people with publicly traded documents, net worths were calculated using stock prices and exchange rates from May 15. Privately held fortunes were calculated using database company BRIS and other sources to estimate what companies and assets would be worth if public. — Forbes

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