ASIA36-41 Malaysia's Richest Layout 1 2/25/11 6:59 PM Page 36
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ASIA36-41 Malaysia's Richest_Layout 1 2/25/11 6:59 PM Page 36 FORBES ASIA THE LIST Malaysia’s 40 Richest BY SUZANNE NAM WITH CAROLINE CHEN, NOELLE LIM, LAN ANH NGUYEN, BRIAN MERTENS AND MEE-HYOE KOO alaysia’s economy grew 7.2% last year, the company he, his brothers and his brothers-in-law founded, highest rate since 2000, and it might not have doubled since last year, earning him a spot at No. 24. be much slower. The fortunes of the coun- Many of the country’s richest are reaping the benefits of try’s 40 richest have kept rising, too. They the global rise in commodity prices. Shares in Mokhzani are worth a collective $62.1 billion, $11.1 Mahathir’s oil and gas services company, Kencana Petro- Mbillion more than last year. leum, are up 63% since last year’s list. Brothers Lee Oi Hian Still Nos. 1 and 2 are Robert Kuok and Ananda Krish- and Lee Hau Hian saw their combined fortune jump 60% to nan, worth $12.5 billion and $9.5 billion, respectively. The $900 million, thanks to a boost in the share price of their country’s biggest gainer was Lee Kim Hua, widow of palm oil and chemicals company, Batu Kawan. Genting founder Lim Goh Tong. Genting’s shares took off Not everyone is getting richer on higher commodity when the company’s Singapore operations on Sentosa Island prices. Lim Wee Chai, who controls the world’s largest rub- opened, pumping up the family’s net worth by $2.7 billion, to ber-glove maker, was one of just four on the list who saw $6.6 billion. Chen Lip Keong (No. 26) was another big gainer their fortunes decline. His Top Glove has been battered by who makes his money off of gambling. His net worth more higher rubber costs. Billionaire Vincent Tan, at No. 9, is also than doubled to $375 million. poorer than he was last year. Chia Song Kun is the only newcomer on the list. Shares in Tiah Thee Kian returns to the list after a one-year hiatus his QL Resources, the seafood, egg production and palm oil as stock in his TA Enterprise recovers from a drop. 1. Robert Kuok Hong Kong real estate and Global. Owns telecom, media tune includes the assets Lim interests in India; Indian billion- $12.5 BILLION/DIVERSIFIED hotel assets were up. Wilmar left to his children after his is run by nephew Kuok aire Kalanithi Maran is his part- death in 2007. Son Lim Kok 87. MARRIED, 8 CHILDREN Khoon Hong, a Singapore ner in radio and direct-to-home Thay has built a separate for- Made his money in sugar, citizen who’s also a billion- TV. A major philanthropist, he tune and is listed at No. 13. palm oil, shipping and prop- aire thanks to his 10% stake. focuses on developing The group’s shares soared erty. His Kuok Group boasts Malaysia’s talent pool by fund- after it opened $5 billion a huge network of compa- 2. Ananda Krishnan ing scholarships and school Resorts World Sentosa theme nies under 3 main holding $9.5 BILLION/TELECOMS programs. park and casino complex in companies, in Hong Kong, Singapore last year. Singapore and Malaysia. 72. MARRIED, 3 CHILDREN 3. Lee Kim Hua Controls the South China His Maxis Communications is $6.6 BILLION/GAMBLING 4. Lee Shin Cheng Morning Post, once the Malaysia’s biggest cellphone $5 BILLION/PALM OIL world’s most profitable daily service provider. Recently took 81. WIDOW, 6 CHILDREN newspaper. Biggest source of 3 of his companies private: Widow of casino magnate Lim 71. MARRIED, 6 CHILDREN wealth is stake in Wilmar, the satellite broadcaster Astro All Goh Tong, who founded Built IOI Group into one of the world’s largest listed palm oil Asia Networks, power and Genting Group in 1965 and world's biggest palm oil pro- company. But the stock was gambling company Tanjong built it into a hotel and leisure ducers and one of the coun- down last year, while his and satellite operator Measat powerhouse. This family for- try’s biggest property ASIA36-41 Malaysia's Richest_Layout 1 2/25/11 6:59 PM Page 37 listing on the Tokyo Stock Ex- change in 1996 was the first non-Japanese company from Asia to start trading there. Communications unit has pumped $2.5 billion into a 4G network and Internet technol- ogy in Malaysia. 8. Syed Mokhtar AlBukhary $2.5 BILLION/DIVERSIFIED 59. MARRIED, 5 CHILDREN His Malaysia Mining Corp. runs Johor Port and the state’s airport. Won a big contract with Gamuda (see Nos. 33 and 38) to oversee construction of the mass-transit rail system in Kuala Lumpur. Set up Albukhary International Uni- versity, and his Albukhary Foundation funds remedial classes for thousands of un- 1. Robert Kuok derachieving students from Hong Kong real estate poor rural families each year. helped boost his worth to $12.5 billion. 9. Vincent Tan $1.25 BILLION/ DIVERSIFIED developers. Group employs listed investment holding reportedly bidding for an 58. MARRIED, 11 CHILDREN 30,000 worldwide. Grew up company Guoco Group. Also Islamic insurance license and Self-made entrepreneur runs on a rubber plantation where has interests in financial serv- has gotten a brokerage conglomerate Berjaya Group, his father ran a Chinese food ices, property development license in Cambodia. He is also but fortune sank by almost a shop. Left school at 11 to help and hotels across Southeast a big shareholder of LPI Capi- quarter over the past year as support his family, selling ice Asia. His Hong Leong Bank tal, a general insurance com- shares stumbled. Owns social cream on a bicycle for 4 years still stalking Malaysian bank pany in Malaysia and networking website Friend- before returning to finish high Eon Capital (see No. 10). Singapore. ster.com and bought shares of school. All of his children now Facebook through his Internet work for his companies. 6. Teh Hong Piow 7. Yeoh Tiong Lay company, MOL.com. Failed to $4.7 BILLION/BANKING $2.7 BILLION/DIVERSIFIED get a sports betting license YAN SHENG / CNIMAGING / NEWSCOM SHENG / CNIMAGING YAN 5. Quek Leng Chan from the government. Hates $4.8 BILLION/DIVERSIFIED 80. MARRIED, 4 CHILDREN 81. MARRIED, 7 CHILDREN Founded Public Bank, now Founded conglomerate YTL 69. MARRIED, 3 CHILDREN Malaysia’s third-largest bank- Corp. in 1955, using the first UP Heads conglomerate Hong ing group. Group also owns letters of his name. Children all DOWN Leong Group Malaysia and one of the largest private work in the company; 56- NEW owes the biggest part of his mutual fund management year-old son, Francis, has run RETURNEE fortune to its Hong Kong- companies in the country, is it for 23 years. Its secondary £UNCHANGED ASIA36-41 Malaysia's Richest_Layout 1 2/25/11 6:59 PM Page 38 FORBES ASIA MALAYSIA’S 40 RICHEST golf but loves scuba diving Asia and China. Sale of his ests in palm oil and chemi- 13. Lim Kok Thay and working out at the gym. stake in EON Capital to No. 5 cals, while listed subsidiary $665 MILLION/GAMING Quek Leng Chan's Hong Kuala Lumpur Kepong owns 10. Tiong Leong Bank is pending a personal-care-products 59. MARRIED, 3 CHILDREN court case filed by a dissent- maker Crabtree & Evelyn. Son of the late Lim Goh Tong, Hiew King ing shareholder. $1.2 BILLION/TIMBER has run Genting Group since £ 12. Azman Hashim 2003. Company boasts resorts 76. MARRIED, 4 CHILDREN 11. Lee Oi Hian & $785 MILLION/FINANCE and casinos in Malaysia, Singa- Tapped rubber in his teenage Lee Hau Hian pore, Hong Kong, the Philip- years to support his family $900 MILLION/ 71. MARRIED, 5 CHILDREN pines and the U.K. Reportedly before building his fortune DIVERSIFIED Heads AmBank Group and seeking to buy the gambling from timber concessions and 60. MARRIED, 4 CHILDREN holds a stake in investment operation of No. 2 Ananda palm oil plantations in 57. MARRIED, 1 CHILD bank ECM Libra. Took small IT Krishnan’s Tanjung Group. Malaysia, Papua New Guinea Brothers inherited control of company he controls, MCM and New Zealand. His Media Batu Kawan from their late Technologies, private late last 14. A.K. Nathan Chinese International pub- father. Fortune jumped 60% year. Enjoys scuba diving, $600 MILLION/ lishes more than 30 maga- since last count as its stock painting and fast cars. A CONSTRUCTION zines and newspapers in price hit a one-year high in singer, he’s recorded numer- 54. MARRIED, 3 CHILDREN North America, Southeast January. Company has inter- ous albums. Owns and runs Eversendai, a Kuala Lumpur contractor he founded in 1984 that fabri- cates, designs and erects the steel frames for big buildings, mostly in the Gulf. Talk has him weighing a public offering this year. 15. Mokhzani Mahathir $560 MILLION/OIL & GAS 50. MARRIED, 5 CHILDREN Son of former prime minister Mahathir Mohamad is execu- tive chairman of petroleum outfit Kencana. Share price has gained more than 60% in the past year as oil prices rise. Race car driver is also chair- man of Sepang International Circuit, home to the Malaysian Grand Prix. 16. William H. J. 20. Anthony Fernandes Cheng The budget airline pioneer $505 MILLION/RETAIL was our 2010 Businessman of the Year. 68. MARRIED, 3 CHILDREN Heads the steelmaking, planta- tion and property company VIA GETTY IMAGES DIMIER / BLOOMBERG FABRICE ASIA36-41 Malaysia's Richest_Layout 1 2/25/11 6:59 PM Page 39 Lion Group. Biggest source of ture.