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Asian Entrepreneurship:

Malaysian 40 Richest(until 06.05.06,according to Forbes)

By

Nur Suhaili RamliAuckland, New Zealand


1 Robert Kuok

$5.6 billion 83. Married. 8 children. Got start in 1949 trading rice, sugar and wheat flour. Today heads multinational Kuok Group. His Pacific Carriers Ltd. is a leading dry-bulk shipper in the Pacific basin; his Transmile Group, which transports freight by air, has landing rights in China and India. Also owns 10 Coca-Cola (nyse: KO - news - people ) bottling plants in China.


2 Ananda Krishnan

$4.6 billion 68. Divorced. 3 children. Former oil trader's holdings include Maxis Communications, Malaysia's largest cell phone service provider; now entering Indian cell phone market with acquisition of 74% stake in Aircel Ltd. for $1.1 billion. His Tanjong Plc.'s subsidiary, Powertek Berhad, paid $300 million for three Egyptian subsidiaries of energy giant EDF in March. Also controls racetrack betting and lottery systems in Malaysia.


3 Teh Hong Piow

$2.1 billion 76. Married. 4 children. Former bank clerk used profits from real estate deal to open small bank 1966. Today Public Bank second-largest lender in Malaysia, with 12,800 employees and 251 branches. Public Bank's Islamic banking products and services gaining popularity among Malaysia's Muslims. Loves photography; avid reader.


4 Lee Shin Cheng

$2.05 billion 67. Married. 6 children. Started out as field supervisor in plantation industry. Now heads IOI, with interests in palm oil, property development and hotels. Set up largest palm oil refinery in Europe, which recently started production. Company's stock up 70% in past year, driven by hype surrounding biofuel (gasoline or diesel mixed with palm oil to cut oil costs and pollution).


5 Quek Leng Chan

$2 billion 65. Married. 3 children. Heads Hong Leong Group Malaysia, a conglomerate of 14 listed companies traded on various stock exchanges. Includes Asian financial services giant Guoco Group. His Hong Leong Bank has bid an estimated $460 million to buy Hong Kong's Asia Commercial Bank (other-otc: CBDP.PK - news - people ); one of two finalists. His Hong Leong Group is also in talks to sell its OYL Industries Bhd., which makes air conditioners.


6 Lim Goh Tong

$1.5 billion 88. Married. 6 children. Former public works contractor turned his idea for hilltop resort on outskirts of Malaysia's capital city, Kuala Lumpur, into one of world's most successful casino resorts; his First World Hotel now has 5,675 rooms. Retired in late 2003, handed reins to son Lim Kok Thay (ranked number 10). Wrote autobiography titled My Story.


7 Yeoh Tiong Lay

$1.1 billion 76. Married. 7 children. Patriarch (otcbb: PRRH.OB - news - people ) of Yeoh family heads YTL Corp., one of Malaysia's largest conglomerates, with interests in construction, utilities, hotels, property development and technology. Son Francis YTL's managing director. Company hopes to benefit from $54 billion development plan recently unveiled by the government. Related Starhill REIT listed in December.


8 Tiong Hiew King

$1.05 billion 70. Married. 3 children. His Rimbunan Hijau Group got its start in 1975 as a timber contractor. Operations now span Malaysia, New Zealand and Africa. Maintains that his logging operations benefit local communities. In recent years his publishing house, Ming Pao Enterprises, has introduced local editions of Chinese-language daily Ming Pao in cities like San Francisco, New York, Vancouver and Toronto.


9 Syed Mokhtar AlBukhary

$1 billion 54. Married. 5 children. Started out in "bowl of Malaysia" as rice trader. Today controls Malaysia Mining Corporation (MMC), which just announced plans to up stake in power producer Malakoff in proposed $2.6 billion deal. Also controls container port Tanjung Pelepas and nearby Senai Airport and has stakes in an automaker and book retailer. Contributes to Islamic schools, mosques and arts.


10 Lim Kok Thay

$440 million 54. Married. Became chairman of Genting Group when his father, Lim Goh Tong (number 6), retired in late 2003. Has been key driver of its Star Cruises, world's third-largest cruise line (which he also runs), as well as its casino projects outside Malaysia. Now trying to enter Macau and Singapore gaming markets; reportedly partnering with Universal in Singapore bid to gain edge over U.S. rivals. Listed Genting Group's international arm in Singapore in December.


11 Azman Hashim

$405 million 66. Married. 5 children. Forty-six-year veteran of banking industry. Bought own bank in 1982 and eventually built it into diversified AM Group. Bank's original name, Arab-Malaysian, was dropped in 2002 in favor of more modern acronym. Chairs Malaysian Investment Banking Association and Malaysia-Japan Economic Association. Reportedly enjoys golf and water sports.


12 Vincent Tan

$355 million 54. Married. Acquired Berjaya (which means success in Malay) in 1984, built it into conglomerate with interests in financial services, hotels, theme parks, lotteries, education, real estate and manufacturing (makes heating pumps and bicycles). Known in the company as TSVT (for "Tan Sri Vincent Tan," "Tan Sri" being an honorific title, like "Sir," in Malaysia).


13 Kua Sian Kooi

$285 million 54. Majority owner and head of Kurnia Asia, one of Malaysia's biggest insurance companies. Started out as insurance salesman 1974, eventually becoming underwriter. Bought ailing insurance firm in 1991 and turned it around, making Kurnia among most profitable insurance outfits in the country in less than a decade. Took company public last year.


14 Lim Wee Chai

$210 million 48. Married. 2 children. Son of rubber plantation owners and traders, he and wife started trading latex gloves in 1991 and opened first factory the next year. Today his Top Glove is one of world's largest producers of rubber gloves. Plays golf two days a week as well as badminton.


15 Anthony Fernandes

$205 million 42. Married. Spent 14 years as music industry executive, lastly running all of Warner Music's operations in Southeast Asia before quitting to launch what is now Asia's biggest discount airline, AirAsia. With slogan "Now everyone can fly," AirAsia went public 2004; sports $1 billion market cap. To save money, half of all bookings made through the Internet. Also developed service to book tickets by mobile phone and SMS. Starting to offer cheap car rentals and a referral service to hostels.


16 Vinod Sekhar

$200 million 37. Married. 2 children. Founder and majority owner of privately held Petra Group. Among its many technologies, one of the most promising is involved in "green rubber," a revolutionary process to cheaply and efficiently recycle used rubber. Dad former head of country's government rubber agency. Company's board members include Christopher Forbes, vice chairman of Forbes. Sekhar lover of Cuban cigars; has collection of more than 100 Mickey Mouse ties. Spends about third of time on charitable activities.


17 G. Gnanalingam

$170 million 62. Married. 3 children. Chairs Westports, the largest privately owned port in Malaysia, which he started 1994. It is also said to be the most profitable of the country's ports. Hong Kong billionaire Li Ka-shing's Hutchison Whampoa (other-otc: HUWHY.PK - news - people ) bought a 30% stake in 2000. Reportedly used prize money won in crossword puzzle contest to pay for college. Former tobacco industry executive still heavy smoker.


18 Kamarudin Meranun

$165 million 45. Married. Quiet bean counter helps more public partner Fernandes (number 15) run AirAsia. With over a decade's experience in financial services and a business degree, Kamarudin is the airline's executive director, looking after corporate finance.


19 Chong Chook Yew

$145 million 84. Widowed. 4 children. List's only female chairs Selangor Properties, large publicly traded real estate firm. Studied in New York at Columbia University and graduated with an arts degree decades ago, before joining Selangor's management team 1963. Became chairperson after the death of her husband and Selangor founder, Wen Tien Kuang.


20 Hamdan Mohamad

$140 million 50. Runs Ranhill Group of companies, which includes power and utilities firms. Started his career as an engineer in Australia, where he also earned his degree in civil engineering.


21 Jeffrey Cheah

$125 million Started with a tin mining company in 1974. Has built the Sunway Group of companies, which develops properties, runs tolls and manages quarries. Bulk of group is held within three publicly listed companies, all with "Sunway" as part of their names.


22 Mustapha Kamal Abu Bakar

$120 million 57. He and partner Kasi K.L. Palaniappan (number 40) have come long way from modest start in small two-room office 1983. Their MK Land now one of country's largest property development firms. The group, which focuses on high-end properties and resorts, went public 1999. Installed country's first wireless network in a condo project.


22 Abdul Hamed Sepawi

$120 million 56. Heads timber outfit Ta Ann. Founded 1989, company has grown from small trading firm into conglomerate with more than 3,000 employees. Company's fortunes boosted by strong demand from China and India for tropical woods. Also makes plywood, which has been hit by high fuel prices. Listed related firm Naim Cendera in 2003; nonexecutive chairman of firm.


24 Ahmayuddin bin Ahmad

$115 million 50. Married. 4 children. Board member, along with colleague G. Gnanalingam (number 17) of Westports, Malaysia's largest privately owned port. Heads human resources and government relations. Prior to Westports worked at Malaysian Tobacco Company and Radio Television Malaysia. Hobbies are reading and traveling.


25 Syed Mohd Yusof Tun Syed Nasir

$110 million 59. Former chairman of Southern Bank Berhad. In one of the biggest corporate deals in Malaysia this year, bank was bought out in May by rival bank Bumiputra-Commerce Holdings, adding to the coffers of the already wealthy Syed Mohd Yusof when he cashed out his shares and warrants. Syed Mohd Yusof remains chairman of Killinghall, one of Southern Bank's largest shareholders.


26. Lee Hau Hian $100 million 53. 26 . Lee Oi Hian $100 million 55. Married. 4 children. 26. Lee Soon Hian $100 million 49. Sons of late rubber baron Lee Loy Seng have equal holdings in two listed companies: chemicals company Batu Kawan and Kuala Lumpur Kepong, former rubber company that expanded into other commodities like palm oil and also owns retailer Crabtree & Evelyn. Lee Oi Hian chairs both companies; Lee Hau Hian is managing director of Batu Kawan and board member at Kuala Lumpur Kepong. Lee Soon Hian sits on the board of Batu Kawan.

26 Shared by 3 Millionaires


29 Tiah Thee Kian

$95 million 58. Married. Runs TA Enterprise. Aside from sprawling interests in financial services, which include stockbroking, asset management and derivatives, also has property arm that operates in Malaysia, Australia, Canada and South Africa. Tiah's wife, who has a degree in economics, is company's chairman.


29 Tan Teong Hean

$95 million 63. Married. 3 children. Chief executive director of Southern Bank Berhad for 23 years until bank was bought out in May. Cashed out his shares and warrants in the deal. Remains chairman of MasterCard International's Asia Pacific board and a member of MasterCard International's global board.


29 Lim Thian Kiat

$95 million 47. Former head of Multi-Purpose Holdings, one of Malaysia's biggest conglomerates. Resigned 1999 after big losses at the group. Still retains stakes in some of its public entities.


32 Yaw Teck Seng

$90 million 68. Head and founder of the Samling group, considered second-largest timber group in Malaysian province of Sarawak, after billionaire Tiong Hiew King's (number 8). Has two listed companies, Lingui Developments and Glenealy Plantations.


33 Lim Tong Yong

$85 million 56. Chief executive of the Pantai Group, the largest chain of private hospitals in Malaysia. Was bought out of group in September last year by Parkway, Singapore's leading hospital chain. Still retains small stake in Pantai; has shares in listed soapmaker Paos.


34 John Chia

$80 million 57. Only high-tech tycoon to make the cut, Chia chairman of Unisem, a semiconductor testing and packaging firm.


34 Rozali Ismail

$80 million 50. Executive chairman of Puncak Niaga, a water-treatment and engineering firm that treats the water of Kuala Lumpur, among other places. Varied career: started as lawyer, became banker, then property developer.


36 Ong Leong Huat

$75 million 62. Runs OSK group, which includes three publicly listed groups: financial services firm OSK Holdings, OSK Property and OSK Ventures.


36 Lau Cho Kun

$75 million Big shareholder in Malaysian Mosaics, maker of tiles. Business also has interests in property development, plantations and trading.


38 William Cheng

$70 million 63. Head of Lion Group of varied businesses including steel manufacturing and retailing as well as plantation management. President of the Associated Chinese Chambers of Commerce & Industry in Malaysia.


38 Shaari Ismail

$70 million 51. Elder brother of Rozali (number 34) also a shareholder in Puncak Niaga but has no executive role.


40 Kasi K. L. Palaniappan

$65 million 48. Trained as architect, Kasi is now second-largest individual shareholder in MK Land after Mustapha Kamal Abu Bakar (number 22). Joined company's board 1999.


References:

Megha Bahree 06.05.06

http://www.forbes.com/global/2006/0605/035_4.html

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