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Tan Sri Robert Kuok and several other business tycoons have retained their positions in the latest Forbes Malaysia Rich List, despite a dent in their nett value due to a slump in oil prices and the ringgit.
Kuok, 91, whose businesses includes palm oil, sugar, shipping, real estate and hotels, retained the top spot for the 10th consecutive year.
His nett worth, however, dropped US$200 million (RM721 million) to US$11.3 billion.
The Kuok Group controls several listed companies in Hong Kong, Malaysia and Singapore, Forbes said.
Kuok was followed by Ananda Krishnan with a nett worth of US$9.7 billion, Tan Sri Quek Leng Chan (US$5.6 billion), Tan Sri Lim Kok Thay (US$5.5 billion), Tan Sri Teh Hong Piow (US$5.4 billion), Tan Sri Lee Shin Cheng (US$4.6 billion), Tan Sri Yeoh Tiong Lay (US$3 billion), Tan Sri Syed Mokhtar AlBukhary (US$2.9 billion, Goh Peng Ooi (US$1.55 billion), and Tan Sri Lee Oi Hian and Datuk Lee Hau Hian who together are worth US$1.45 billion.
Telecoms mogul Ananda Krishnan saw his wealth drop by US$1.6 billion to US$9.7 billion, 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 Malaysia’s Maxis, said Forbes.
Tan Sri Quek Leng Chan moved up to third spot from fourth previously, despite his nett worth slipping by US$800 million from a year ago to US$5.6 billion.
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 oilfields.
The list has four new faces: real estate tycoon Khoo Cheng Hai at number 45 with a nett worth of US$285 million and who made it to the list after shares of his KSL Holdings doubled; packaging specialist Lim Teck Meng of Scientex (No.46, US$280 million); oil-ship fabricator Ng Chin Heng (No.47, US$275 million) of Coastal Contracts, real estate tycoon and co-founder of United Overseas Australia, Kong Chong Soon (No.50, US$240 million).
Casino tycoon Tan Sri Lim Kok Thay of Genting Group took the fourth spot with a nett worth of US$5.5 billion, down from US$6.5 billion last year, as China’s economic moderation affected the region’s casino gaming and entertainment sector.
The wealth of some on the list was severely affected, 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 nett worth fall to US$700 million from US$1.2 billion 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 and as the 15th richest Malaysian amid a robust plantation and trading revenue with a nett worth of US$1.08 billion.
He holds the largest stake in Hap Seng Consolidated Bhd.
Software tycoon Goh Peng Ooi saw his nett worth increase by some $450 million to US$1.55 billion and is the ninth wealthiest businessman in Malaysia.
His Silverlake Axis now provides financial software for 40% of Southeast Asia’s banks.
The minimum nett worth to make the list this year was US$240 million, up from US$220 million.
The complete list can be found at www.forbes.com/malaysia as well as the latest issue of Forbes Asia. – Bernama, February 26, 2015.
- See more at: http://www.themalaysianinsider.com/malaysia/article/robert-kuok-retains-top-spot-on-forbes-malaysia-rich-list-bernama#sthash.TTYatR0O.dpufMalaysia’s 50 Richest
- AGGREGATE
WEALTH - $76.1
- BILLION
| Rank | Name | Net Worth | Age | Origin of Wealth | |
|---|---|---|---|---|---|
 | #1 | Robert Kuok | $11.3 B | 91 | diversified |
 | #2 | Ananda Krishnan | $9.7 B | 76 | telecom |
 | #3 | Quek Leng Chan | $5.6 B | 73 | banking, real estate |
 | #4 | Lim Kok Thay | $5.5 B | 63 | casinos |
 | #5 | Teh Hong Piow | $5.4 B | 84 | banking |
 | #6 | Lee Shin Cheng | $4.6 B | 75 | palm oil, real estate |
 | #7 | Yeoh Tiong Lay | $3 B | 85 | construction, real estate |
 | #8 | Syed Mokhtar AlBukhary | $2.9 B | 63 | diversified |
 | #9 | Goh Peng Ooi | $1.6 B | 60 | software |
 | #10 | Lee Oi Hian & Lee Hau Hian | $1.5 B | - | palm oil/chemicals/real estate |
 | #11 | Tiong Hiew King | $1.4 B | 79 | timber/media |
 | #12 | Surin Upatkoon | $1.3 B | 65 | telecoms/lotteries/insurance |
 | #13 | Danny Tan Chee Sing | $1.3 B | 59 | real estate |
 | #14 | Vincent Tan | $1.2 B | 63 | diversified |
 | #15 | Lau Cho Kun | $1.1 B | 79 | palm oil/real estate |
 | #16 | Tan Heng Chew | $1 B | 67 | motor vehicles |
 | #17 | G. Gnanalingam | $985 M | 70 | ports |
 | #18 | Kuan Kam Hon | $980 M | 67 | synthetic gloves |
 | #19 | Jeffrey Cheah | $950 M | 69 | real estate |
 | #20 | Azman Hashim | $865 M | 75 | banking |
 | #21 | Shahril & Shahriman Shamsuddin | $860 M | - | oil & gas |
 | #22 | Yaw Teck Seng & Yaw Chee Ming | $820 M | - | forestry |
 | #23 | Desmond Lim Siew Choon | $780 M | 54 | real estate |
 | #24 | Chen Lip Keong | $750 M | 67 | casinos |
 | #25 | Syed Azman Ibrahim | $740 M | 54 | transport/motor vehicles |
 | #26 | Mokhzani Mahathir | $700 M | 54 | oil & gas services |
 | #27 | Lim Kang Hoo | $650 M | 60 | real estate |
| #28 | Ahmayuddin bin Ahmad | $600 M | 58 | ports |
 | #29 | Chia Song Kun | $560 M | 65 | food production |
 | #30 | Ninian Mogan Lourdenadin | $550 M | 61 | real estate/retail |
 | #31 | Kamarudin Meranun | $540 M | 53 | airlines |
 | #32 | Ngau Boon Keat | $535 M | 66 | oil & gas |
 | #33 | Anthony Fernandes | $530 M | 50 | airlines |
 | #34 | Lim Kuang Sia | $510 M | 62 | rubber gloves |
 | #35 | Ong Leong Huat | $435 M | 70 | finance/real estate |
 | #36 | Chong Chook Yew | $380 M | 92 | real estate |
 | #37 | Ling Chiong Ho | $350 M | 63 | palm oil/ships |
 | #38 | Lim Han Weng | $340 M | 62 | oil & gas |
| #39 | Loh Kian Chong | $325 M | 38 | motor vehicles/palm oil |
 | #40 | Leong Hoy Kum | $320 M | 57 | real estate |
 | #41 | Lim Wee Chai | $315 M | 57 | rubber gloves |
 | #42 | Gooi Seong Lim | $310 M | 65 | property/construction |
 | #43 | Kua Sian Kooi | $305 M | 62 | insurance |
 | #44 | Khoo Kay Peng | $300 M | 76 | retail/hotels |
| #45 | Khoo Cheng Hai | $285 M | 73 | real estate |
| #46 | Lim Teck Meng | $280 M | 77 | Manufacturing |
| #47 | Ng Chin Heng | $275 M | 65 | real estate |
 | #48 | Tan Chin Nam | $270 M | 88 | real estate |
 | #49 | Abdul Hamed Sepawi | $255 M | 65 | timber |
| #50 | Kong Chong Soon | $240 M | 73 | real estate |
