Kuok tops 'Malaysia's Richest 40' list

Kuok tops 'Malaysia's Richest 40' list

KUALA LUMPUR - Tan Sri Robert Kuok is still Malaysia's richest man, well ahead of his nearest "rival" in Malaysian Business magazine's annual "Malaysia's Richest 40" list.

In its Feb 16 issue, the magazine listed Kuok's fortune at RM54.48 billion (S$21 billion), up from last year's RM46.1 billion.

The Hong Kong-based tycoon's assets make up just over 25 per cent of the entire fortune of the 40 in the list which is RM217.82 billion, an increase of 11.73 per cent from last year's RM194.86 billion.

When the magazine first published the country's 40 richest individuals in 2002, their combined assets stood at RM41.7 billion and Kuok was on top of the list.

Tan Sri T. Ananda Krishnan remains in the second spot with RM33.19 billion, an increase of 0.88 per cent from last year's RM32.9 billion.

Public Bank founder and chairman Tan Sri Teh Hong Piow is third, a position he has held for the past four years, with assets worth RM18.07 billion.

Fourth on the list is Tan Sri Quek Leng Chan whose wealth, through his flagship Hong Leong Group and Guoco Group, is valued at RM14.11 billion.

In the fifth spot is Tan Sri Lee Shin Cheng of IOI Group, who switched places with Tan Sri Syed Mokhtar Albukhary who fell to the sixth spot.

Lee's wealth is valued at RM13.12 billion, up from RM10.56 billion a year ago.

Syed Mokhtar's assets increased by 4.43 per cent to RM11.07 billion from RM10.6 billion last year.

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