KUALA LUMPUR: The collective wealth of tycoons on the 2023 Forbes list of Malaysia’s 50 Richest edged up to US$81.6 billion from US$80.5 billion last year.
This report is according to Forbes Asia, the Asian edition of international business magazine, recently unveiled its annual list of Malaysia's billionaires, shedding light on the remarkable wealth amassed by these individuals and their influential role in shaping the nation's economy.
With several notable names maintaining their positions and new entrants making a strong impact, Malaysia's billionaires continue to make headlines.
The combined net worth of the top 50 richest individuals in the country reached an astounding $123 billion, a substantial increase from the previous year.
Here are the top 5.
1. Tan Sri Robert Kuok
At the pinnacle of Malaysia's billionaire list stands Tan Sri Robert Kuok, with a remarkable net worth of US$11.8 billion (RM54.4 billion), as reported by Forbes.
Aged 99, he has secured his position as the country's wealthiest individual for the seventh consecutive year.
His success can be attributed, in large part, to his ventures in various industries, including palm oil, shipping and property.
As the founder-owner of the Kuok Group, he also holds the distinction of being the world's 155th richest person, as stated on the Forbes website.
2. Tan Sri Quek Leng Chan
Another prominent figure on the list is Tan Sri Quek Leng Chan, the executive chairman of the Hong Leong Group, with a net worth of US$10.2 billion (RM47 billion).
He received a portion of his wealth as an inheritance from his father, who was one of three brothers that established a banking group during the 1920s.
Ranked as the world's 179th richest person, Quek has amassed his wealth through his involvement in banking and property.
3. Tan Sri Koon Poh Keong
In third place is Tan Sri Koon Poh Keong, who shares a metals fortune with his four siblings.
Despite a 7% decrease in their combined fortune, now valued at US$6.2 billion (RM28.6 billion), due to a decline in shares of their company Press Metal Aluminium Holdings, their success story remains inspiring.
It all started when the brothers pooled $50,000 to establish an aluminum-extruding company during Malaysia's recession.
Today, Press Metal is Southeast Asia's largest integrated aluminum producer and competes with industry giants such as Rio Tinto and China's Aluminum Corp.
4. Tan Sri T. Ananda Krishnan
Tan Sri T. Ananda Krishnan, an esteemed Harvard Business School graduate and former oil trader, has claimed the fourth spot on the list with a notable increase in his fortune.
His net worth has risen by US$400 million (RM1.8 billion) to reach an impressive US$5.4 billion (RM24.9 billion).
The 85-year-old tycoon 's diverse portfolio includes substantial stakes in prominent companies such as telecom giant Maxis, media firm Astro Malaysia Holdings and oilfield services-provider Bumi Armada.
Ranked as the world's 511th richest person, he has accumulated his vast fortune through his involvement in multiple industries, notably telecoms, media, and oil services.
5. Teh siblings
Meanwhile, the revered founder of Public Bank Bhd, the late veteran banker Tan Sri Teh Hong Piow, has left behind a lasting legacy.
His fortune, now entrusted to his children, the Teh siblings, has secured them the fifth
spot on the prestigious Forbes Asia list, with a remarkable net worth of US$5.2 billion. (RM24.06 billion)
This marks the Teh siblings' maiden appearance on the Forbes Asia list, signifying their impressive entry into the realm of Malaysia's wealthiest individuals.
Diana Teh Li Shing, William Teh Lee Pang, Lillian Teh Li Ming, and Lillyn Teh Li Hua have stepped into their father's footsteps, building upon his successful ventures.
Public Bank Bhd, the institution founded by Tan Sri Teh Hong Piow, serves millions of customers not only in Malaysia but also across Cambodia, China, Hong Kong, Sri Lanka, and Vietnam.
The Teh siblings also hold a significant minority stake in the listed insurance business, LPI Capital.
As Malaysia continues its journey towards becoming a high-income nation, the remarkable achievements of its billionaires serve as a testament to the country's economic potential.
The complete list can be found at www.forbes.com/malaysia, as well as in the June issue of Forbes Asia.
The top 20 richest in Malaysia are:
1) Robert Kuok - RM54.4 billion
2) Tan Sri Quek Leng Chan - RM47 billion
3) Koon Poh Keong & siblings - RM28.6 billion
4) Ananda Krishnan - RM24.9 billion
5) Teh siblings - RM24.06 billion
6) Lee Yeow Chor & Yeow Seng - RM21.2 billion
7) Dr Chen Lip Keong - RM12.9 billion
8) Tan Sri Lim Kok Thay - RM10.6 billion
9) Tan Yu Yeh & Yu Wei - RM8.7 billion
10) Chia Song Kun - RM8.7 billion
11) Syed Mokthar AlBukhary – RM7.3 billion
12) Lau Cho Kun – RM6.9 billion
13) G. Gnanalingam – RM6.6 billion
14) Francis Yeoh & siblings – RM6.6 billion
15) Lee Oi Hean & Hau Hian – RM6.2 billion
16) Yaw Teck Seng & Chee Ming – RM5.7 billion
17) Kuan Kam Hon & family – RM5.5 billion
18) Jeffrey Cheah – RM5.3 billion
19) Lim Wee Chai – RM5 billion
20) Surin Upatkoon – RM450 million
Melissa Fernando
Thu Jun 01 2023
Forbes Asia, the Asian edition of international business magazine, recently unveiled its annual list of Malaysia's billionaires. - Astro AWANI
Amalkan Bahasa Melayu beradab, pelihara maruah bahasa kebangsaan - Pakar
Penggunaan Bahasa Melayu secara tidak berhemah, terutama di platform media sosial, semakin meresahkan masyarakat Malaysia.
Perpaduan umat Islam dan bukan Islam prasyarat pembangunan ekonomi mampan - PM Anwar
Tidak semua negara Islam mempunyai ruang terus aman dan damai, dan mepunyai ekonomi yang kukuh dan berkembang seperti Malaysia, tegas Anwar
Beyond the Score: How Alternative Data, AI are Opening Up New Doors for Credit Access
Credit scores are often misunderstood. Erick Hamburger, Group CEO of CTOS Digital Berhad, addresses these concerns and explains how alternative data - like telco payments and streaming subscriptions - and AI are transforming credit access, even for those lacking a traditional credit history.
MCAS nafi ada kaitan dengan GISB dan pergerakan Al-Arqam
Persatuan Mualaf Singapura (MCAS) menafikan sebarang kaitan dengan GlSB Holdings Sdn Bhd (GISB) atau pergerakan Al-Arqam.
Hamas sah kematian seorang lagi komander dalam serangan di Lubnan
Kumpulan Pejuang Palestin, Hamas pada Sabtu mengesahkan kematian seorang lagi komander mereka di Lubnan, lapor agensi berita Jerman (dpa).
Program larian disertai pelancong berpakaian tidak sopan bukan anjuran kerajaan Johor
Program larian yang didakwa disertai pelancong asing berpakaian kurang sopan dan mempromosi budaya songsang lesbian, gay, biseksual serta transgender (LGBT) bukan anjuran kerajaan negeri.
Imigresen serbu pusat karaoke, 49 GRO dan pelanggan ditahan
JIM Perak menyerbu empat premis pusat hiburan karaoke yang menawarkan GRO warga Myanmar dengan bayaran antara RM450 hingga RM600 di sekitar bandar raya ini, malam tadi.
AWANI Ringkas: Pendatang asing tanpa izin | Kekecohan di Wisma Transit
Ikuti rangkuman berita utama yang menjadi tumpuan sepanjang hari di Astro AWANI menerusi AWANI Ringkas.
Tumpuan Ahad – 06 Oktober 2024
Ikuti rangkuman berita utama yang menjadi tumpuan di Astro AWANI.
Polis siasat dakwaan buli di sekolah berasrama penuh di KL
Polis sedang menjalankan siasatan berhubung dakwaan berlaku kejadian buli membabitkan anak seorang penyanyi dan beberapa individu lain di sebuah sekolah berasrama penuh di ibu negara.
Enam syarikat Malaysia terpilih dalam '100 to Watch List' Forbes Asia
Syarikat-syarikat itu ialah Aerodyne, BoomGrow, Care Concierge, Involve Asia, Lapasar, dan PolicyStreet.
Nadiah Wan muncul CEO termuda dalam senarai 'Power Businesswomen 2021' Forbes Asia
Nadiah yang memegang dua jawatan ketua pegawai eksekutif merupakan individu paling muda dalam senarai itu tahun ini.
Forbes Asia senarai 11 firma Malaysia dalam Syarikat Terbaik Bawah 1 Bilion 2021
Senarai tahunan itu dikeluarkan bagi mengiktiraf syarikat tersenarai kecil dan sederhana di rantau Asia Pasifik yang merekodkan jualan di bawah AS$1 bilion.
"Niat saya cuma bantu peniaga kecil" - Siti Nurhaliza
Penyanyi nombor satu Malaysia, Datuk Seri Siti Nurhaliza Tarudin menggunakan inisiatif menerusi platform media sosialnya bagi membantu peniaga khususnya golongan Industri Kecil Dan Sederhana (IKS).
Siti Nurhaliza terharu disenarai sebagai selebriti berpengaruh Forbes
Siti Nurhaliza disenaraikan oleh Forbes Asia sebagai antara 100 selebriti paling berpengaruh di media sosial peringkat Asia Pasifik.
Robert Kuok kekal orang paling kaya di Malaysia
Robert Kuok berada pada kedudukan nombor satu lagi dengan nilai bersih AS$11.5 bilion, kedudukan yang dipegang selama lebih dua dekad.
Joanne Kua dari Malaysia disenarai dalam Emergent 25 Forbes Asia
Hanya berusia 33 tahun, Ketua Pegawai Eksekutif Kumpulan dan Pengarah Eksekutif KSK Group itu menyertai perniagaan insurans dan kewangan bapanya kira-kira tujuh tahun yang lalu.
Neelofa tersenarai dalam Forbes 30 melalui Naelofar Hijab
Neelofa atau Noor Neelofa Mohd Noor, 28, pengasas dan pengarah NH Prima International Sdn Bhd, tersenarai di bawah kategori Runcit dan E-dagang.