March 16, 2010

Malaysia Billionaires 2010 on Forbes 2010 World's Billionaires List

Based on the Forbes 2010 World's Billionaires List, Malaysia has 9 billionaires with net worth of at least US $1 billion or around RM 3.4 billions.

This is the year 2010 Malaysia richest man:

1) Robert Kuok (86) - Net worth US $14.5 billions

A Malaysian but reside in Hong Kong,One time rice and sugar trader heads multinational Kuok Group, with interests ranging from shipping to real estate to media. The most valuable holding is Singapore's Wilmar International which completed the mergiing process of extensive Malaysian, Indonesian palm oil interests into it in year 2007. Also has stakes in Kerry Properties, Shangri-la hotels, company that publishes the South China Morning Post. Once known as the Sugar King of Asia but Kuok Group had sold two of its sugar businesses in Malaysia for $365 million, signaling an exit from the industry where he got his start.

2) Ananda Krishnan (71) - Net worth US $7.6 billion

His biggest holding is Maxis Communications, Malaysia's largest cell phone service provider, with over 11 million subscribers. Spinning off the successful Malaysian business into Maxis, he took it public in November 2010, raising $3.4 billion in what was Malaysia's largest ever IPO. In the year 2007, he had taken it private in a $5 billion deal, then sold 25% of Maxis Communications to Saudi Telecom and bought 35% in Sri Lanka Telecom. Also has telecom interests in Indonesia and India which are still privately held. Other assets include satellite TV broadcaster Astro All Asia Networks and Johnston Press in London.

3) Lee Shin Cheng (70) - Net worth US $4.4 billion

Head IOI Group, one of world's leading operators of palm oil plantations, refineries. His plants produce specialty oils, metallic stearates, fats used in soaps, detergents, cosmetics, food additives. The group is also one of the biggest property developers in Malaysia with the name of IOI Properties.

4) Quek Leng Chan (69) - Net worth US $3.4 billion

Head of conglomerate Hong Leong Group Malaysia gets biggest part of fortune from stake in its investment holding company, Guoco Group. Has other interests in financial services, property development and hotels across Southeast Asia. Hong Leong Bank's offer to takeover Malaysian bank EON Capital, partially owned by billionaire Tiong Hiew King, rejected by board in February. Upped shares in Hong Kong's third largest bank, Bank of East Asia through Hong Kong listed Guoco Group late last year.

5) Teh Hong Piow (80) - Net worth US $3.4 billion

Founder of Public Bank, founded Public Bank in his mid-30s from profits made in a real estate deal. Has operations in China including Hong Kong, Cambodia, Vietnam, Laos and Sri Lanka. Cambodian Public Bank Plc claims to be the largest commercial bank in the country for its lending business.

6) Yeoh Tiong Lay & family (80) - Net worth US $2.4 billion

Founded YTL Corp, one of Malaysia's largest conglomerates, with interests in construction, utilities, hotels, property development and technology; shares up over 20% in the past year. All seven children work in the company; son Francis runs YTL's daily operations. In year 2009, bought PowerSeraya, Singapore's second largest power generator from Temasek Holdings for $2.4 billion, which contributed to 12% growth in net profit. Through a real estate trust, controls major prime properties in Singapore, including Wisma Atria and Ngee Ann City. Plans to launch mobile WiMAX service with international partners such as Samsung, Cisco and GCT.

7) Syed Mokhtar AlBukhary (58) - Net worth US $1.5 billion

Major shareholder of Malaysia Mining Corp. (MMC). Recent moves include taking over the national rice supplier, Padiberas Nasional. Through MMC, holds concessions to operate Port Tanjung Pelepas and Senai International Airport in Johor, and has interests in independent power producer, Malakoff. Also holds substantial interests in oil palm plantation and sugar refining businesses through Tradewinds Malaysia. Other business ventures includes Harrods in Malaysia. Sponsors the Islamic Arts Museum in Malaysia (Southeast Asia's largest), and gives scholarships to needy students through the Albukhary Foundation.

8) Vincent Tan (58) - Net worth US $1.2 billion

Major shareholder of Berjaya group which have interests in hotels, lotteries, real estate and finance. Bought 100% of, a social networking website, through his internet company in year 2009; also selling 33% stake in UMobile to Singapore Technologies Telemedia. Plans to list the Singer retail business and the 7-Eleven convenience store chain under Berjaya Retail Bhd (BRetail). Operates Wendy's, Starbucks, Papa Johns Pizza, Kenny Rogers Roasters, Krispy Kreme and Borders bookstores in Malaysia; water and sewage treatment and sanitary landfills in Malaysia, Indonesia and China.

9) Tiong Hiew King (75) - Net worth US $1.2 billion

Major shareholder of Rimbunan Hijau group which has substantial interests in palm oil, timber assets and property development in Malaysia, New Zealand and Papua New Guinea. Has global Chinese media aspirations - some call him Asia's Rupert Murdoch. His Media Chinese International's portfolio comprises six dailies with a daily circulation of over 1 million, including the influential Sin Chew Jit Poh and Nanyang Siang Pau in Malaysia, as well as over 30 magazine titles in North America, Southeast Asia and Mainland China. May sell EON Capital, one of Malaysia's smallest banks, to Hong Leong group.

To the above billionaires, net worth to them probably is just a number. Probably to some of them, their major concern now is to ensure that the empire that they have built will continue to grow with the help of their next generation so that their legend can continue like Genting group.

If you wish to know the other richest Malaysia richest man besides from above 9 billionaires in term of USD, this is last year (2009) 40 richest Malaysian by Forbes. 1 billion in Ringgit Malaysia is around 2.95 billion in US dollar.

Hence, based on last year data, in terms of Ringgit Malaysia, two more tycoons is in the billionaires list besides from the above 9 billionaires, they are Azman Hashim and William H.J. Cheng.

Believed that this year should have more billionaires in term of Malaysia Ringgit, do wait for the Forbes 2010 40 Richest Malaysia list.

original title: 9 Malaysian in Forbes 2010 World's Billionaires List

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Related Information:
Malaysia Wealth Net Worth Thresholds
Millionaire EPF Saving Members
40 Richest Malaysian as at May 200