Top 40 richest Malaysians worth a combined RM217.8b

KUALA LUMPUR (Feb 21, 2014): The combined wealth of Malaysia's 40 richest individuals surged more than 11% for the year 2014, with Robert Kuok Hock Nien once again topping the list.
Collectively, the top 40 Malaysians on the list are worth RM217.82 billion as at Jan 18, 2014, compared with RM194.86 billion a year ago, Malaysian Business said in its Feb 16 issue.
As in previous years, the wealth of the Top 40 was assessed based on the value of their stakes in listed companies.
A mainstay on the list is Kuok, who has been on the top of the list since the business magazine started compiling it in 2002, when the top 40 richest men in the country had a combined wealth of RM41.7 billion.
Since 2002, 81 tycoons have been in and out of the 40 Richest Malaysians list, of which 15 have managed to remain in it throughout the years.
Overall, the steady increase of their wealth can be attributed to share market performance and price inflation, given that their wealth is largely based on their shareholdings. It is also reflective of the performance of their companies and Malaysia's positive economic growth over the past 12 years.
This year, the list had 33 billionaires – two more than last year. And 29 of the 40 in the list see their assets increasing from last year. Out of that, 20 registered growth of more than 10%.
Hong Kong-based Kuok tops the list again at RM54.48 billion, an increase from last year's RM46.1 billion.
T Ananda Krishnan maintains his second position where he has been since 2004. His assets held via Usaha Tegas Sdn Bhd are worth RM33.19 billion, an increase of 0.88% from last year's RM32.90 billion.
Banker Tan Sri Teh Hong Piow of Public Bank keeps his third spot, which he held for the past four years. This time his assets are worth RM18.07 billion.
Fourth on the list is Tan Sri Quek Leng Chan. His wealth, through his flagship Hong Leong Group and Guoco Group, is valued at RM14.11 billion this year.
At number five is Tan Sri Lee Shin Cheng of IOI Group who jumps from sixth position last year, replacing Tan Sri Syed Mokhtar Albukhary who falls to sixth. Lee's wealth this year is RM13.12 billion, up from RM10.56 billion a year ago.
Syed Mokthar has to contend with the sixth spot despite his wealth rising by 4.43% to RM11.07 billion from RM10.6 billion last year.
Genting Group's chief Tan Sri Lim Kok Thay and his mother, Puan Sri Lee Kim Hua, maintain their seventh and eighth positions, respectively. Lim's wealth rose 16.18% to RM9.43 billion while Lee's increased 3.2% to RM7.47 billion.
Datuk Mokhzani Mahathir, through his vehicle SapuraKencana Petroleum, is in ninth place with assets worth RM4.22 billion. He was at 13th last year with RM2.63 billion.
Rounding up the Top 10 list is prominent banker Tan Sri Azman Hashim, via Arab-Malaysian Corporation, with assets worth RM4.11 billion this year.
There were two returnees to this year's list, Datuk Tony Tiah of TA Enterprise is at number 38 with assets worth RM589.14 million while Tan Sri Rozali Ismail of Puncak Niaga Holdings rounded up the Top 40 with RM543.74 million.
The compilation by Malaysian Business also presents a list of the 10 richest tycoons on the ACE Market.