26 Kong Chong Soon @ Chi Suim and Kong Pak Lim
UOA Development Bhd and United Overseas Australia
Net worth: RM2.124bil
SELF-MADE property billionaires Kong Chong Soon and Kong Pak Lim - the co founders of United Overseas Australia Ltd (UOA) and UOA Development Bhd jumped to 26th spot in 2016 from 30th spot a year earlier.
Their net worth swelled by 38.4% to RM2.124bil last year from RM1.535bil previously.
Both Chong Soon, 75 and Pak Lim, 63 have successfully steered the UOA group into a reputable property developer developing residential and commercial properties as well as hotels, restaurants and recreational outlets.
UOA was founded and listed on the Australian Stock Exchange in 1987; fully focusing on property development, construction, property investment, and property management.
But in 1989, UOA Group has decided to base its headquaters and business operations in Kuala Lumpur. The group later went on to list UOA Development Bhd on the main market of Bursa Malaysia in 2011.
To date UOA Development is one of the largest listed property and construction companies in Malaysia with a market capitalisation of RM3.98bil.
The UOA group is also seen strategically investing in good investment grade commercial and residential assets in prime, high return growth areas under UOA Real Estate Investment Trust which is listed on Bursa Malaysia.
As at Dec 31, 2015 the UOA Group has completed and delivered projects comprising commercial, retail and residential properties estimated at RM7bil in gross development value (GDV).
27 Lim Teck Meng & sons, Lim Peng Jin and Lim Peng Cheong
Net worth: RM1.801bil
THE Lim family of Scientex Bhd is an example of how one can make a difference in a crowded field. The packaging industry that Scientex is deeply anchored is a sector where there are many players and virtually no barrier to entry. But under the stewardship of founder, Lim Teck Meng, Scientex is now among the top three producers of packaging materials in the world.
The growing demand for packaging products has seen the net worth of Lim, 79 and his sons, Lim Peng Jin, 49 and Lim Peng Cheong, 54 increase by 36.1% to a RM1.801bil last year - nudging them up to the 27th spot under Malaysia’s richest list for 2016, from their 35th position in 2015.
Diversified group Scientex is involved in industrial and consumer packaging, automotive interior, green energy products and property development businesses.
Strong demand for its packaging products in the past two years saw capacity expansion and margins improve. In the coming quarters, the outlook for this business segment is expected to improve through higher value products and improved product mix.
Scientex has a market capitalisation of about RM3.24bil and its share price to date is enjoying a good run-up of about 30% at RM7.00 against RM4.90 as at end-2016.
The testimony of Teck Ming and sons hardwork is the group’s nine manufacturing plants operating in Malaysia and Vietnam.
Last year, the group ramped up production via its brand new cast polypropylene and Bbiaxially oriented polypropylene (BOPP) manufacturing plants.
In addition, there are five property development projects in Johor and Malacca under the group’s wing.
28 Datuk Tan Chin Nam and Datuk Seri Robert Tan Chung Meng family
IGB Bhd and Tan & Tan Development Bhd
Net worth: RM1.784bil
THE family of Datuk Tan Chin Nam, 90 and his nephew Datuk Seri Robert Tan Chung Meng, 63 control IGB Corp Bhd and Tan & Tan Development Bhd.
The net worth of Chin Nam, Robert and family stood at RM1.784bil last year, down 11.2% placing them at 28th spot under Malaysia’s rich list 2016.
Both Chin Nam and his late brother Tan Kim Yeow were the co-founders of the IGB Group back in 1970s and later acquired Tan & Tan Development in 2002.
To date, IGB and Tan & Tan are one of Malaysia’s leading versatile property developers with a remarkable track record in condominiums, landed properties and gated communities, commercial and residential buildings, and hospital development.
It is synonymous with big projects namely the Mid Valley Megamall - one of the world’s largest shopping mall, Shangri-La Hotels in Malaysia , Desa Kudalari in KL - Malaysia’s first condominium, MiCasa - Malaysia’s first serviced apartments combined with hotel facilities, low-rise condominium Desa Angkasa and one of Ipoh’s earliest housing estate, Ipoh Garden.
Last year the group was quiet as far as corporate moves were concerned. The only significant development is IGB looking to raise a RM1bil medum term notes to finance the building of Johor’s biggest retail mall, the Southkey Mall in Johor Baru.
On the overseas front, billionaire and property magnate Chin Nam undertook the renovation of Queen Victoria Building and Capitol Theatre in Sydney Australia.
29 Tan Sri Shahril Shamsuddin
President and Group CEO
SapuraKencana Petroleum Bhd
Net worth: RM1.765bil
A casualty of the weak oil and gas (O&G) sector, SapuraKencana Petroleum Bhd’s president and group CEO Tan Sri Shahril Shamsuddin, 54 dropped to 29th spot under Malaysia’s rich list 2016 as his net worth eroded by 18.7% to RM1.765bil.
SapuraKencana market capitalisation is slashed by almost half at RM10.49bil compared with RM29.17bil during the O&G heydays back in 2012.
Malaysia’s largest integrated O&G service provider, SapuraKencana came about after the RM11.85bil merger exercise between prominent O&G players - SapuraCrest Petroleum Bhd and Kencana Petroleum Bhd in 2012.
Under a cash and share swap deal, a special purpose vehicle Integral Key Sdn Bhd bought all the assets and liabilities of SapuraCrest for RM5.87bil and Kencana for RM5.98bil, equivalent to RM4.60 per share and RM3 per share respectively.
Shahril who then tookover the helm of SapuraKencana had steered the group to venture into new O&G related businesses and projects both locally and overseas including Australia, Brazil, Mexico, Vietnam, China and West Africa.
Although SapuraKencana has an outstanding orderbook of more than RM20bil, the company itself is being cautious on the outlook because of the changing dynamics of crude oil prices and cut backs in spending by the oil majors.
Towards this end, Shahril was recently quoted as saying that prolonged spending cuts by oil majors will continue to pose “significant challenges” for the O&G industry.
As the number of contracts dwindle, he expects intense competition which would cause the industry to face margin pressures well into 2017.
30 Tan Sri Dr Ngau Boon Keat
Dialog Group Bhd
Net worth: RM1.741bil
DIALOG Group Bhd’s transformation as an oil and gas service provider to an operator of an integrated petroleum terminal and storage hub could not have come at a more opportune time.
Last year, the company that is helmed by the 69-year old Ngau, saw its oil and gas integrated terminal at Pengerang that offers tankage facilities, operate at full capacity.
The company also embarked on the second phase of the storage terminal project where its partner is Petronas. Dialog’s partners in the first phase are Vopak of Netherlands and the Johor State Government.
The collapse in the global crude oil prices over the past two years saw a reverse in the fortunes of Dialog Group Bhd, co-founded and executive chairman Tan Sri Ngau Boon Keat.
Ngau’s net worth reduced by 4.1% to RM1.741bil in 2016 compared to the previous year, placing him on the 30th spot on Malaysia’s top 40 richest list, down from 26th spot in 2015. Nevertheless, that is only to be expected as the crude oil price is down.
Main board listed Dialog started as an integrated technical services provider to the upstream, midstream and downstream sectors in the oil, gas and petrochemical industry.It was one of the best performers in the sector until crude oil prices started to slide.
The prolonged bearish oil and gas (O&G) market sentiment saw Dialog’s share price dragged down to RM1.54 from RM1.60 as at end-2016.
However, under Ngau’s dynamic stewardship, Dialog has transformed into a global oil-and-gas services provider specialising in storage tank terminals, engineering services and crude refining facility with presence across nine countries namely Malaysia, Singapore, Thailand, Indonesia, China, Australia, New Zealand, Saudi Arabia and UAE.
The location of the deepwater terminal in Pengerang has placed Dialog in a position to tap into a market that includes multinational oil majors, national oil companies as well as multinational engineering and services providers worldwide.
Ngau’s ambitious foray to build a deepwater oil-services hub in Pengerang, Johor started several years ago.
Ngau’s vision was to build an oil and gas deepwater storage terminal and position it as Asia’s version of the Rotterdam Port.
The first phase of the Pengerang Deepwater Terminal project cost the group and its partners some RM5bil.
Operating at full speed, it is now able to handle the storage, blending and distribution of crude oil, gas and petroleum products.
Dialog will remain busy with work in the Pengerang deepwater terminal associated with the handling, storage and distribution of crude oil and byproducts of the Refinery and Petrochemicals Integrated Development complex for eth next few years.
The second phase of the deepwater terminal costs an estimated RM6.3bil, with 2.1 million cu m of storage capacity.
This project will be completed progressively in 2018 and 2019.
Dialog has also embarked on a joint venture with Petronas Gas Bhd for the development of liquefied natural gas (LNG) regasification facilities, comprising a regasification unit and two units of 200,000 cu m of LNG storage tanks with an initial send-out capacity of 3.5 million tonnes per annum for a total investment cost of RM2.7bil.