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KUALA LUMPUR (NEW STAR / ASIA NETWORK) – Mogul Robert Kuok retains first place on Forbes Malaysia's wealth list in 2019, with a net worth of $ 12.8 billion ($ 17.4 billion Singapore) billion.
At the same time, Tan Sri Quek Leng Chan of Hong Leong, Malaysia, added $ 2.2 billion to his wealth and remains in second place, with a net worth of $ 9.4 billion.
Tan Sri Teh Hong Piow, of the state-owned bank, won $ 700 million, a third place this year, with a net worth of $ 6.7 billion, according to a Forbes press release released on Thursday. March).
Forbes said that, from airlines to manufacturers moving from real estate to delivery services, business has not been good for many of Malaysia's leading moguls, the economic growth rate of the country having slow motion.
In total, 30 tycoons from the Forbes Malaysia wealth list in 2019 saw their wealth decline.
Tan Sri Kong Hon Kong, who founded Nirvana Asia in 1990 in Kuala Lumpur in 16th position, and Abdul Kadier Sahib of Serba Dinamik Holdings in 49th position.
Forbes pointed out that the country's stocks were down, the KLCI FBM having lost 8% in the last 12 months and the ringgit having lost 3% against the US dollar. A tumultuous political year adds to the headwinds.
Ananda Krishnan, No. 4, with 6.2 billion US dollars, saw his net worth fall by 900 million US dollars, the shares of his energy service provider Bumi Armada falling by 78% on 1 March and Tan Sri Lee Shin Cheng of IOI Corporation and IOI Properties, ranked fifth, while his wealth dropped from 200 million US dollars to 5.4 billion US dollars.
Mr. Wong Thean Soon (# 48) suffered the biggest loss in the percentage list as his net worth dipped 63% to $ 280 million.
Shares of Mr. Wong My EG's Company The services, which provide online access to government services, were struck after last year's election by the perception that they were tied too closely to the government outgoing.
Ms. Norraesah Mohamad, the only woman on the list last year, is one of the biggest investors in the company.
Tan Sri Syed Mokhtar Albukhary, who remains in 12th place despite a decline in wealth from $ 200 million to $ 1.7 billion, is also among the magnates who saw their wealth decline.
Shares of its infrastructure-related companies have fallen as part of an ongoing review of Malaysia's mega infrastructure projects.
Genting chairman Tan Sri Lim Kok Thay (No. 7, US $ 4.4 billion) also suffered a setback. He lost a place compared to 6th place last year, while his fortune dropped by 300 million US dollars.
Meanwhile, the newcomer Abdul Kadier Sahib enters for the first time at number 49 with a net worth of 275 million dollars.
He is a director of Serba Dinamik Holdings, an oil and gas services provider that went public in 2017 and saw its stock float. The company's founder, Mr. Mohd Abdul Karim Abdullah (number 40, $ 345 million), debuted a year ago and has seen its net worth rise by 11% this year.
There are two returnees on this year's list. KSK's Kua Sian Kooi joins the list at number 35 with a net worth of $ 420 million while Mr. Loh Kian Chong of Oriental Holdings returns to the list at number 45 with a net worth of $ 320 million.
The minimum net worth for listing this year is $ 250 million, up from $ 300 million last year.
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