Top 10 Richest Man in Malaysia 2016 (Billionaires)

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Find out the Top 10 Richest Man in Malaysia 2016 compiled by Forbes. All the top 10 Wealthiest Man are billionaires in USD.

Top 10 Richest Man in Malaysia 2016

 

1) Robert Kuok

Net Worth: USD 10 Billion

The No. 1 richest man in Malaysia made his money in sugar, palm oil, shipping as well as property. Robert Kuok exited the media business in December when he sold Hong Kong’s South China Morning Post to Alibaba for $265 million. The Chinese-Malaysian tycoon’s Kuok Group controls an empire that includes the high-end hotel chain Shangri-La, Kerry Properties and commodities trader Wilmar.

Company: Shangri-La Hotels – Wilmar International– Kerry Properties –  PACC Offshore

 

2) Ananda Krishnan

Net Worth: USD 7.4 Billion

Ananda Krishnan suffered a $2.3 billion drop in his fortune. Shares of Maxis, his flagship telecom outfit, tanked on the government’s proposal to redistribute and auction telecom spectrum, sparking concerns of an expensive bidding war. His pay TV operator, Astro Malaysia, saw its stock take a hit after Netflix entered the country in January. Aircel, his debt-laden Indian telecom unit, is in talks with rival Reliance Communications about a possible merger.

Company: Astro – Maxis – Bumi Armada

 

3) Tan Sri Quek Leng Chan

Net Worth: USD 5.6 Billion

Quek Leng Chan chairs privately held conglomerate Hong Leong Co. (Malaysia), which boasts interests in the finance, property and food sectors. His son Kon Sean, 34, led the family into the e-commerce business last May with the launch of GemFive, which sells everything from electronics and fashion to furniture. Inherited part of his fortune from his father, one of 3 brothers who started a banking group in the 1920s. His cousin, Singapore billionaire Kwek Leng Beng, chairs part of the family business, Hong Leong Group.

Company: Hong Leong Bank, Hong Leong Finance, Guoco Group

 

4) Tan Sri Teh Hong Piow

Net Woth: USD 4.7 Billion

Low-profile tycoon, Teh Hong Piow, gets the bulk of his wealth from his 24% stake in Public Bank, Malaysia’s third-largest banking group by assets. Its reach extends to Hong Kong, China, Cambodia, Vietnam, Laos and Sri Lanka.

Company: Public Bank

 

5) Tan Sri Lee Shin Cheng

Net Worth: USD 4.6 Billion

Lee Shin Cheng’s IOI Corp. is the world leader in oleochemicals and one of the largest palm oil plantation companies in Malaysia. Elder son Yeow Chor is chief executive while younger son Yeow Seng leads the group’s property arm, which has a large footprint in China.

Company: IOI Corp – IOI Properties

 

6) Tan Sri Lim Kok Thay

Net Worth: USD 4.5 Billion

The Genting Group chairman, Lim Kok Thay, oversaw the conglomerate’s continued global expansion in the gambling sector, rejuvenated its cruise business and entered the ultraluxury-travel industry. The 50-year-old company began construction on the $4 billion Resorts World Las Vegas last May. Also in May, Genting Hong Kong spent $550 million to buy luxury cruise brand Crystal Cruises, which boasts offerings such as submarine excursions and first-class-only air travel. Next up: plans for a 20th Century Fox movie-inspired theme park the world’s first at the group’s flagship Resorts World Genting outside of Kuala Lumpur next year. The fortune is shared with his mother, Lee Kim Hua, and other family members.

Company: Genting Group

 

7) Tan Sri Yeoh Tiong Lay

Net Worth: USD 2.3 Billion

Yeoh Tiong Lay’s net worth slumped by $750 million as revenue at YTL Corp. dropped 13% to $4.2 billion last year. Lower fuel prices hurt its utilities business. It also runs hotel and property development businesses. His eldest son, Francis, is at the helm.

Company: YTL Corp – YTL Power – YTL Land

 

8) Lau Cho Kun

Net Worth: USD 1.6 Billion

Lau Cho Kun’s wealth jumped 43.5% as new property projects throughout the country helped boost the share price of his Hap Seng Consolidated by 88% during the past year. At the same time the company kept a tight rein on operating costs as demand weakened at its plantation, fertilizer-trading and quarry-and-building-material divisions.

Company: Hap Seng

 

9) Tan Sri Syed Mokhtar Al-Bukhary

Net Worth: USD 1.4 Billion

Tan Sri Syed Mokhtar’s MMC Corp. is adding a fourth part to his portfolio, which also includes power plants, plantations, a rail network and a broadcasting platform. He relisted Southeast Asia’s largest independent power producer, Malakoff Corp., last May.

Company: MMC Corp – DRB Hicom – Malakoff Corp

 

10) Tan Sri Surin Upatkoon

Net Worth: USD 1.1 Billion

More than 60% of Surin Upatkoon’s wealth comes from the 10% stake in Thai telecom InTouch he sold in 2013. The Thai national also has interests in gambling company Magnum. He started his career as a manager at MWE Weaving Mills in 1971, rose to become managing director and now owns a third of the Malaysian company. He made a bid for a takeover of MWE in December but later aborted it.

Company: Magnum – MWE

 

The Malaysia’s Top 10 Richest Man 2016 list was compiled by Forbes using information obtained from the individuals, stock exchanges, analysts, private data bases, government agencies and other sources. Net worths were based on stock prices and exchange rates as of the close of markets on 12 Feb 2016. Private companies were valued by using financial ratios and other comparisons with similar publicly traded companies.

 

Compare this with Top 10 Richest Man in Malaysia 2015.

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