Kuok still the richest

KUALA LUMPUR: 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 RM58.11bil, which accounts for nearly 36% of the total wealth of the 40 richest.

Tan Sri Robert Kuok Hock Nien

The Hong Kong-based tycoon added a whopping RM25.7bil to his vast fortune last year, due to the higher equity prices of his stable of listed stocks.

It said Ananda Krishnan's fortune however registered a marginal drop to RM19.63bil.

IOI Corp Bhd's Tan Sri Lee Shin Cheng said the magazine, had for the first time put him in the top three of Malaysia's richest by doubling his fortune to RM14.94bil.

Others in the top10 ranking are Tan Sri Quek Leng Chan of Hong Leong Group (RM11.09bil), Tan Sri Syed Mokhtar Albukhary of the Albukhary Foundation (RM8.55bil), Tan Sri Teh Hong Piow of Public Bank group (RM8.06bil), Tan Sri Lim Kok Thay of Genting group (RM3.17bil) and Tan Sri Tiong Hiew King of the Rimbunan Hijau group (RM3.87bil).

The magazine said two tycoons found their way to the Top10 - Tan Sri Vincent Tan of Berjaya group (RM3.41bil) and Tan Sri Azman Hashim of Amcorp group (RM2.87bil).

“They dislodged YTL Corp patriarch Tan Sri Yeoh Tiong Lay who slips to 13th position (RM1.75bil),” it said.

Among the notable new entrants to the list is Singapore-based Ong Beng Seng who, at RM1.74bil, 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 Corp Bhd.

The full list of the 40 tycoons and details of their wealth appears in the magazine's 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

Source here