Robert Kuok, the sugar king who owns a string of five-star hotels in
the region, retained his position as the richest individual in Malaysia
with assets worth a staggering RM50.04 billion. with telecommunications
tycoon T. Ananda Krishnan, who is worth RM45.78 billion, coming in a
close second.
In third place is Public Bank chairman Tan Sri Teh Hong Piow, who
moved up one notch with a fortune of RM12.77 billion, said the Malaysian
Business magazine based on a survey of the 40 richest individuals in
the country.
As in previous years, the wealth of the country's top 40 individuals
was assessed based on the value of their stakes in listed companies.
The survey also revealed Malaysia's 40 richest individuals were
collectively worth RM206.27 billion as at Jan 21, up 30 per cent
compared with RM156.7 billion last year, boosted by the bullish stock
market and an expanding economy.
"The overall increase is in tandem with the 20 per cent rise in the FBM KLCI benchmark," it said.
The magazine said Ananda Krishnan's wealth soared close to 70 per
cent following Maxis' higher valuations and his move to take private
three of his listed companies.
In fourth place was IOI Corporation Bhd's Tan Sri Lee Shin Cheng who
is worth RM12.74 billion, followed by Genting Group's Tan Sri Lim Kok
Thay who was unchanged at number five and valued at RM10.89 billion.
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