fbpx

Forbes outlines the top 10 Richest Tycoons in MALAYSIA 2017 and their Net Worth

By /

Have ever wondered who are the richest Tycoons in Malaysia, There are a lot of business Tycoons in Malaysia and these people runs Malaysia. They are Billionaires and are also part of the world billionaires. Here are the top 10 richest Tycoons in Malaysia 2017 and their net worth as at 25/09/2017

  1. Syed Mokhtar AlBukhary

 

Net worth as at 25/09/17: $ 1.84 Billion

With a $4.5 billion construction order book for his listed flagship, MMC Corp, reclusive tycoon Syed Mokhtar AlBukhary is on a high. The infrastructure behemoth won a $3.96 billion rail tunneling project in 2016, along with its 50:50 joint venture partner Gamuda. The order is part of the buildout of the Klang Valley mass transit system linking Kuala Lumpur to its suburbs. MMC will be involved with the design and construction of tunnels, underground stations and escape shafts for the second line of the system. In January 2017 MMC bought a 70% stake in KMB Seaport, which operates the Tanjung Bruas Port in Malacca, located at the most central and narrowest part of the Straits of Malacca. Analysts say the company, which listed Gas Malaysia in 2012 and energy outfit Malakoff in 2015, is now looking to take its port operations public, but only next year or 2019. He founded Albukhary International University, providing full tuition to financially needy students, as well as the Islamic Art Museum. A high school dropout, AlBukhary came from a modest family and started out as a rice trader.

 

  1. Tiong Hiew King

 

Net worth as at 25/09/17: $ 2 Billion

Timber baron Tiong Hiew King holds forestry concessions in 16 countries. Also holds property, oil-and-gas and palm-oil interests, and runs a print and digital media business for Chinese-language consumers. His four dailies comprise nearly 70% of Malaysia’s Chinese newspaper sales and three-quarters of advertising revenue. Most valuable asset is his privately held Oregon Group, which is based in New Zealand and builds housing developments and hotels, harvests salmon and logs and manufactures plastic containers. As a teenager Tiong tapped rubber to support his poor family before building his empire. He’s an avid practitioner of tai chi.

 

  1. Lau Cho Kun

 

Net worth as at 25/09/17: $ 2.08 Billion

Lau Cho Kun’s move to concentrate on real estate development has paid off handsomely. The share price of his Hap Seng Consolidated has been enjoying a steady upward trend, especially after news in 2016 of its joint venture with Naza TTDI, a township development specialist, to develop Met 5, which consists of residential blocks, offices and a 4-star hotel on an 8.95 acre plot. With its plantation, fertilizer-trading and quarry-building-material divisions, he continues to cope with rising costs and weaker global demand. Also in 2016 the company consolidated its profitable commercial vehicles business into its Hong Kong-based holding entity, Lei Shing Hong, citing its proximity to the Chinese market and less exposure to currency fluctuation.

 

  1. Yeoh Tiong Lay

 

Net worth as at 25/09/17: $ 2.1 Billion

Yeoh Tiong Lay’s diversified YTL Corp. owns businesses in sectors such as utilities, cement manufacturing, hotels and property development, boasting a 2,000-acre land bank in Malaysia. It owns PowerSeraya, Singapore’s second-largest power plant, and co-owns the Eastern & Oriental Express, the luxury train that runs from Singapore to Thailand. The group, which was started in 1955, also owns the Ritz-Carlton in Kuala Lumpur. In 2013 he donated $11 million to King’s College London to set up the Yeoh Tiong Lay Centre for Politics, Philosophy & Law. All of his children are involved in the business. His eldest son, Francis, is at the helm.

 

  1. Lim Kok Thay

 

Net worth as at 25/09/17: $ 4.5 Billion

As Genting Group chairman, Lim Kok Thay has been busy expanding the group’s global footprints in the gaming sector. The conglomerate, which also has a palm-oil business, is expected to open Resorts World Las Vegas in 2019 and launch its long-awaited 20th Century Fox movie-inspired theme park–the world’s first–at the group’s flagship Resorts World Genting outside of Kuala Lumpur in 2017. In November 2016 Genting exited the South Korean gaming sector amid hopes of tapping an emerging Japan gaming market. The fortune is shared with his mother, Lee Kim Hua, and other family members. His late father Lim Goh Tong arrived in Malaysia from Fujian, China, almost 50 years ago at age 19, with barely anything to his name.

 

  1. Lee Shin Cheng

Net worth as at 25/09/17: $5 Billion

Lee Shin Cheng’s IOI Corp. is the world leader in oleochemicals and one of the largest palm-oil-plantation companies in Malaysia. Elder son, Yeow Chor, is chief executive while younger son, Yeow Seng, leads the group’s property arm, IOI Properties, which has a large footprint in China. Other children, all daughters, also work for his companies. Lee grew up on a rubber plantation where his father ran a Chinese food shop. At age 11 he left school in order to support his family and sold ice cream on a bicycle for 4 years before returning to finish high school.

 

4. Hong Piow Teh

Net worth as at 25/09/17: $5.2 Billion

Low-profile tycoon Teh Hong Piow gets the bulk of his wealth from his 24% stake in Public Bank, Malaysia’s third-largest banking group by assets. Its reach extends to Hong Kong, China, Cambodia, Vietnam, Laos and Sri Lanka. He founded the bank in 1966 and it’s maintained a track record of consistent profitability. He started his career as a clerk with Oversea-Chinese Banking Corp. and he also owns 44% of insurance business LPI Capital. In 2016 he became the first Malaysian banker to get a Cambodian royal award for his contribution to economic development in Cambodia.

 

3. Ananda Krishnan

 

Net worth as at 25/09/17: $6.7 Billion

Ananda Krishnan lost his spot in 2017 as Malaysia’s second-richest person amid falling shares of his telecom outfit Maxis and oilfield-services-provider Bumi Armada. He’s now No. 3. In 2016 he agreed to merge his debt-laden Indian telecom firm Aircel with Indian billionaire Anil Ambani’s Reliance Communications. But India’s Supreme Court threatened to auction Aircel’s spectrum because Krishnan hasn’t responded to summons in a long-running federal investigation of how he had acquired Aircel. (Krishnan has denied any wrongdoing). In another setback, Krishnan’s key lieutenant, Augustus Ralph Marshall, who is also embroiled in the same case, has left the group in a reportedly acrimonious parting. And Saudi Telecom is said to be mulling the sale of its 16.2% stake in Maxis. Krishnan has an M.B.A. from Harvard Business School. His only son is a Buddhist monk in Thailand.

 

  1. Quek Leng Chan

Net worth as at 25/09/17: $7.2 Billion

Quek Leng Chan chairs privately held conglomerate Hong Leong Co. (Malaysia), which boasts interests in the finance, property and food sectors. His son Kon Sean led the family into the e-commerce business in 2015 with the launch of GemFive, which sells everything from electronics and fashion to furniture. He inherited part of his fortune from his father, one of three brothers who started a banking group in the 1920s. His cousin, Singapore billionaire Kwek Leng Beng, chairs part of the family business, Hong Leong Group.

 

  1. Robert Kuok

 

Net worth as at 25/09/17: $13.5 Billion

Robert Kuok has long been Malaysia’s richest person. The Chinese-Malaysian tycoon’s Kuok Group controls an empire that includes the high-end hotel chain Shangri-La, Kerry Properties and commodities trader Wilmar. He got his start trading rice, sugar and wheat flour in Malaysia in 1949 and in Singapore in 1953. A big source of his wealth is a stake in palm-oil-giant Wilmar International, which is run by nephew Kuok Khoon Hong, a Singapore billionaire.

see also the richest politician in Singapore 2017