Malaysia’s richest get richer

The richest people in Malaysia 

PETALING JAYA: Malaysia's 40 richest people are worth US$43bil, with the top 10 owning 80% of their total net worth.  

In a press release, Forbes Asia said the collective net worth of the top 40 richest Malaysians has gone up 65% from US$26bil.  

The ringgit was traded at RM3.39 to US$1 yesterday. 

For the top 10 richest Malaysians, their net worth of US$35bil is an increase of 63% from last year. 

It said the individuals lower in the ranks are doing well, too.  

“Last year, a dozen people on the list were worth less than US$100mil and the minimum net worth was US$65mil. This year, the minimum to make it has almost doubled to US$127mil,” it added. 

There are eight new entries in the Malaysia Rich List – which names the 40 richest Malaysians – with business tycoon Ong Beng Seng being the richest newcomer worth US$580mil and is ranked at number 12. 

The list was published in Forbes Asia’s June 4 issue. 

Among the new faces are Datuk Mokhzani Mahathir at number 28 and worth US$220mil, and Raja Datuk Seri Eleena Raja Azlan Shah at 25th position and worth US$228mil.  

Raja Eleena is the second woman on the list after Selangor Properties Bhd chairman Puan Sri Datin Chong Chook Yew, who at 18th position is worth US$320mil.  

Samling Global chief executive Yaw Chee Ming is also a new entrant at number 15 with a net worth of US$370mil. 

Others are Lee Swee Eng at number 36 (worth US$150mil), Khoo Kay Peng at 39 (US$130mil), Datuk Lin Yun Ling at 34 (US$160mil) and Tan Sri Liew Kee Sin at 35 (US$155mil). 

Tan Sri Robert Kuok remains the richest man in the country, worth US$7.6bil up from US$5.6bil last year, followed by tycoon T. Ananda Krishnan, who is worth US$7.4bil, up from US$4.6bil last year. 

Genting Group founder Tan Sri Lim Goh Tong is third richest with a net worth of US$4.3bil, an increase of US$1.5bil from last year. 

The list also includes AirAsia chief executive officer Datuk Tony Fernandes, ranked 24th and worth US$230mil while his co-founder and deputy Datuk Kamarudin Meranun is at number 31 and worth US$190mil.  

Forbes Asia said the country’s wealth creation was boosted by a thriving economy, which benefited from recent government moves to reduce taxes, and a buoyant stock market.

PETALING JAYA: Malaysia's 40 richest people are worth US$43bil, with the top 10 owning 80% of their total net worth.