Published February 17, 2007

Robert Kuok tops richest M'sian list

His wealth grew to RM32.4b on strong performance of stocks

(KUALA LUMPUR) Sugar king Robert Kuok Hock Nien topped the Malaysian Business magazine's 40 Richest Malaysians beating his closest rival T Ananda Krishnan. The magazine in its Feb 16 issue puts MrKuok's wealth at RM32.4 billion (S$14.2 billion). The Hong Kong-based tycoon added a whopping RM10.86 billion or 50.43 per cent to his vast fortune this year due to the strong performance of his stable of listed stocks. Mr Krishnan's fortune increased by about 80 per cent bringing his worth to RM19.7 billion while third-placed and founder of Hong Leong Group Quek Leng Chan is worth RM10.3 billion this year.

Top three: Mr Kuok (above) added RM10.86 billion to his fortune this year, while Mr Krishnan is worth RM19.7 billion and Mr Quek, RM10.3 billion

Others in the top 10 ranking are Genting Group founder Lim Goh Tong, Public Bank chairman Teh Hong Piow, IOI Corporation executive chairman Lee Shin Cheng, chairman of the Albukhary Foundation Syed Mokhtar Albukhary, president, chairman and chief executive of Genting Group Lim Kok Thay and founder and chairman of Rimbunan Hijau Group Tiong Hiew King.

YTL Corp patriarch Yeoh Tiong Lay is in 10th place after a one-year absence. Among the notable new entrants was Lee Yeow Seng of IOI Group who at 28 is the youngest tycoon on the list. The other was Mokhzani Mahathir who propelled in after successfully listing his flagship company, Kencana Petroleum Bhd on the main board of Bursa Malaysia in December 2006.

Other new faces on the list are Lee Soon Hian of Batu Kawan Bhd and Ya'acob Tunku Abdullah of MAA Holdings Bhd who is back after a year's absence. Overall, the majority of tycoons saw their paper wealth rise in 2007 due to a rebound in the stock market and rising property and commodity prices, Malaysian Business said in a statement here yesterday. - Bernama