SINGAPORE: Tycoons on the 2021 Forbes Malaysia Rich List saw a rebound in their collective wealth as it rose 14 per cent to nearly US$90 billion this year, after declining for two years.
In a statement issued here, Forbes said Tan Sri Robert Kuok, who presides over a property and commodities empire, continues to top the list with a fortune of US$12.2 billion and at age 97 is the oldest member of the list.
Tan Sri Quek Leng Chan, meanwhile, the second-generation head of the privately held Hong Leong group, remains at No. 2 with US$9.6 billion.
Forbes said Malaysia's pandemic-hit economy, which contracted 5.6 per cent in 2020, was expected to get back on track this year.
"But the country is now grappling with a surge of COVID-19 cases.
"While the benchmark stock index was up a modest 2.5 per cent since fortunes were last measured 15 months ago, the nation's 50 richest saw their combined wealth increase to nearly US$90 billion, up from US$79 billion a year ago," it said.
Forbes noted that this reversal of fortune can partly be attributed to the country's dominant position as the medical glove maker to the world.
In a pandemic year, as global demand for such protective gear increased significantly, Malaysian exports of rubber gloves doubled, boosting the wealth of the nation's largest producers, it said.
Five of them feature among the 50 richest, with two, Kuan Kam Hon (No. 7, US$3.8 billion) of Hartalega Holdings and Lim Wee Chai (No. 8, US$3.5 billion) of Top Glove, ranked in the top ten.
Koon Poh Keong, who shares a metal fortune with four siblings, was this year's biggest dollar gainer.
Shares of their Press Metal Aluminium Holdings were up as the metal's prices recovered, adding US$3.4 billion to their wealth and propelling Koon and his brothers to third place with a net worth of US$6.4 billion, said Forbes.
Returning to the list are Lim Kuang Sia (No. 14, US$1.4 billion), who controls Kossan Rubber Industries with his siblings, and Stanley Thai (No. 20, US$1.1 billion) who co-founded and runs Supermax Corp. with his wife Cheryl Tan.
There are five newcomers on this year's list, said Forbes.
Among them are brothers Tan Yu Yeh and Yu Wei of Mr D.I.Y. Group, a listed home improvement chain, who are the richest newcomers at No. 10 with US$2.7 billion.
The other four new entrants are all based in Penang, a busy tech hub, which benefited from US-China trade tensions as global companies sought to diversify supply chains.
They are Tan Eng Kee (No. 22, US$965 million), cofounder of Greatech Technology, a maker of factory automation equipment; Ng Chai Eng (No. 37, US$450 million) and Lau Chee Kheong (No. 38, US$445 million), cofounders of engineering services firm UWC, and Steven Siaw Kok Teng (No. 49, US$325 million), cofounder of ViTrox, a maker of high-precision machine inspection systems.
However, the pandemic took its toll on 19 listees, whose fortunes fell. Among the hardest hit were casino moguls Chen Lip Keong (No. 9, US$3.4 billion) and Lim Kok Thay (No. 11, US$2.55 billion).
Seven from last year's list dropped out, notably the AirAsia duo, Tony Fernandes and Kamarudin Meranun, as the ongoing pandemic dimmed hopes of a revival in travel.
The minimum net worth to make the list this year was US$315 million, up from US$255 million last year.
The complete list can be found at www.forbes.com/malaysia, as well as in the latest issue of Forbes Asia, available on newsstands now.
-- BERNAMA
Bernama
Thu Jun 03 2021
Robert Kuok continues to top the list with a fortune of US$12.2 billion and at age 97 is the oldest member of the list. Image via Facebook/Robert Kuok Hock Nien
Letupan terdengar di Isfahan, Iran - Laporan
Satu letupan kedengaran di barat laut bandar Isfahan di Iran, lapor agensi berita FARS yang memetik sumber tempatan.
Raffi Ahmad mengaku pernah minum air basuhan kaki ibu
"Benar, saya minum (air basuh kaki). Minggu hadapan semua pekerjaan yang hilang saya dapat balik." - Raffi Ahmad
Tiada lagi ulang tayang Piala FA
Semua video ulang tayang perlawanan Piala FA dari perlawanan pusingan pertama akan dibatalkan mulai musim depan.
Niaga SPOTLIGHT: Financial Inclusion via Innovative FinTech
12% of Malaysia ie; 7 million Malaysians, primarily from rural areas are unbanked - meaning they cannot access any financial services.
This is a dire need in Malaysia due to the country’s fast growth rate in mobile banking and e-money transactions, which quadrupled to RM800 billion in 2021.
Moreover, the existence of financial inclusion gaps among underserved communities such as women, gig workers, and lower-income earners requires significant attention.
Niaga Spotlight speaks with Nisa Ismail, CEO, Sedania As Salam Capital Sdn Bhd (SASC) about the latest in Financial Inclusion via FinTech to help close socioeconomic gaps, especially in rural areas.
#NiagaAWANI
#NiagaSPOTLIGHT
This is a dire need in Malaysia due to the country’s fast growth rate in mobile banking and e-money transactions, which quadrupled to RM800 billion in 2021.
Moreover, the existence of financial inclusion gaps among underserved communities such as women, gig workers, and lower-income earners requires significant attention.
Niaga Spotlight speaks with Nisa Ismail, CEO, Sedania As Salam Capital Sdn Bhd (SASC) about the latest in Financial Inclusion via FinTech to help close socioeconomic gaps, especially in rural areas.
#NiagaAWANI
#NiagaSPOTLIGHT
Niaga AWANI: Pendidikan AI sekolah rendah: Pembangunan masa depan digital
Di sekolah rendah di Malaysia, pelajar akan diperkenalkan kepada asas AI dalam mata pelajaran baharu yang dipanggil Teknologi dan Digital bermula dari 2027. Apakah persiapan yang diperlukan setiap sekolah untuk memastikan pelahar lebih muda dibawa masuk ke dunia penggunaan AI yang bertanggungjawab?
#NiagaAWANI
#NiagaAWANI
Niaga AWANI: MOSTI sasarkan penubuhan 900 pemula niaga menjelang 2026
Kementerian Sains, Teknologi dan Inovasi (MOSTI) menyasarkan untuk memudahkan penubuhan sehingga 900 pemula niaga kecerdasan buatan AI menjelang 2026 melalui program perintis AI Sandbox 2024.
#NiagaAWANI
#NiagaAWANI
Klopp terima kenyataan kurang ancaman punca Liverpool tewas
Mohamed Salah kurang menunjukkan prestasi terbaiknya sejak kembali dari kecederaan hamstring.
Niaga AWANI: Sinergi diperlukan bagi merealisasikan aspirasi mampan negara
Kenyataan itu juga mengatakan bahawa RHB telah mencapai kemajuan yang ketara ke arah operasi neutral karbon, mencapai pengurangan 43 peratus dalam pelepasan gas rumah hijau (GHG) operasi berbanding garis dasar 2016, merangkumi Skop 1, 2, dan 3 (Perjalanan Perniagaan melalui Jalan dan Udara.
#NiagaAWANI
#NiagaAWANI
AWANI Pagi: Raya Oh Raya: Alamak! Poket dah "kering" ni
Diskusi 8.30 pagi Jumaat bersama Dr Nur Lalua Rashidah Mohd Rahsiad, Pengurus, Perhubungan Korporat Asia Pacific University of Technology & Innovation (APU) mengenai pengurusan kewangan selepas berdepan perbelanjaan yang banyak dimulai sesi sekolah dibuka diikuti puasa dan hari raya. Ini termasuk bagaimana pengurusan yang baik boleh membantu membawa keluar keluar daripada pergelutan kewangan sementara menunggu gaji bulan seterusnya.
Niaga AWANI: RHB tingkatkan sasaran perkhidmatan kewangan kepada RM50 bilion menjelang 2026
Menjelang 2030, RHB menyasarkan untuk mencapai pengurangan 20 peratus dalam sektor ini. Menjelang 2050, matlamat RHB adalah untuk mencapai pengurangan sehingga 96 peratus dalam pelepasan yang dibiayai merentas lima sektor.
#NiagaAWANI
#NiagaAWANI