single-image

Kuok still richest Malaysian

KUALA LUMPUR : Robert Kuok holds his No . 1 spot on the 2019 Forbes Malaysia Rich Listing with a net worth of US$12 .8bil despite a decrease in his wealth by US$2bil . 

Tan Sri Quek Leng Chan of Hong Leong ( Malaysia ) included US$2 .2bil to his wealth and stays at No . 2 with a net worth of US$9 .4bil . 

Tan Sri Teh Hong Piow of Open public Bank gained US$700mil , rising one spot to No . 3 this year with a net value of $6 .7bil , according to a Forbes press declaration yesterday .

Forbes stated from airlines to production and property to delivery solutions , business has not been good for many of Malaysia’s top tycoons as the country’s financialprogress rate slowed . 

Only 11 enjoyed gains and they include Tan Sri Kong Hon Kong, who founded Kuala Lumpur-based Nirvana Asia in 1990 who is at 16th spot and Abdul Kadier Sahib of Serba Dinamik Holdings, who is at 49th spot.

Forbes pointed out that the country’s stocks were down as the FBM KLCI lost 8% in the past 12 months and the ringgit slipped 3% against the US dollar. A tumultuous year in politics added to the headwinds. Rounding out the top five on the list is Ananda Krishnan at No. 4 with US$6.2bil, whose net worth is down by US$900mil as shares in his energy service provider Bumi Armada fell by 78% in the year to March 1.


You may also like