Fortunes of 40 richest Malaysians decline

THE fortunes of Malaysia's 40 richest shrank by RM75.6 billion from RM171.9 billion a year ago to RM96.30 billion as at January 16 amid the global stock market meltdown, according to a survey by Malaysian Business.

The magazine's survey revealed that half of them recorded declines of 50 per cent with only 14 billionaires this time round, five short of last year.

Malaysian Business in its February 16 issue named "Sugar King" Tan Sri Robert Kuok as the richest Malaysian with a fortune of RM26.6 billion.

However, Kuok wealth which stood at a record of RM58.1 billion last year, had declined by RM31.5 billion.

His closest rival, T. Ananda Krishnan clocked in at RM20.1 billion.

At third-placed was Tan Sri Teh Hong Piow with a wealth of RM8.15 billion.

Meanwhile, Tan Sri Lee Shin Cheng was fourth with a fortune that has halved to RM7.4 billion.

Taking the fifth spot at RM4.5 billion, down from RM11.1 billion previously, was Tan Sri Quek Leng Chan.

Others in the top-10 ranking were Puan Sri Lee Kim Hua, widow of Genting group founder, Tan Sri Lim Goh Tong (RM3.5 billion), Tan Sri Syed Mokhtar Albukhary of the Albukhary Foundation (RM3.2 billion), Tan Sri Vincent Tan (RM1.8 billion), Tan Sri Tiong Hiew King of the Rimbunan Hijau Group (RM1.6
billion) and Tan Sri Azman Hashim of Amcorp group (RM1.4 billion).

The magazine said besides Genting's Lee, the other new entrants in the richest list were siblings from the YTL group, Datuk Yeoh Soo Min and Datuk Yeoh Soo Keng.

AirAsia's Datuk Kamarudin Meranun made a comeback to the list after a one year absence. — Bernama