Monday, November 5, 2007

Who's The Richest Person In Malaysia

Everybody want to be rich and famous, but not all people has the ability and opportunity to achieve that status. Getting rich is not is just a matter of a blink on the eyes, It has to followed by strong determination, courage, intellectual and creativy. Members of FORBES ASIA's has listed 12 richest person in Malaysia. They are entirely or mostly self-made, having built fortunes in diverse sectors such as ceramic tiles, airlines and banks. Agricultural commodities such as rubber, timber and palm oil are the biggest source of fortunes in the country:

1. Robert Kuok, $5.6 billion, age 83

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 bottling plants in China.

2 . Ananda Krishnan, $4.6 billion, age 68

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, age 76

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, age 67

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, age 65

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, 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, age 88

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, age 76

Patriarch 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, age 70

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, age 54

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, age 54

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, age 66

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, age 54

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).
As you see from their short briefs, the youngest of them are at the age of 54, means that you have to work hard at least for 30 years after finishing secondary school before become rich. Some of them even started their career at very lower level but managed to gain wealth and property as it is now. To all of them, I salute you Sir.

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