Four Malaysians have been added to Forbes’ 2021 billionaires list, joining 12 other locals with a net worth of over US$1 billion (RM4.13 billion).
Brothers Tan Yu Yeh and Tan Yu Wei of MR DIY Group Bhd (US$1.8 billion and US$1.1 billion), Westports Holdings Bhd’s G Gnanalingam (US$1.7 billion), and Greatech Technology Bhd founder and chief executive officer Tan Eng Kee (US$1.1 billion) all made their maiden appearance on the list released by the financial publication yesterday.
Malaysia’s 50 Richest – Forbes (www.forbes.com)
Westports Holdings deals in shipping and logistics while Penang’s Greatech Technology produces machines for factory automation.
MR DIY Group, which owns the eponymous chain of hardware and homeware stores, went public last October. It was the largest initial public offering (IPO) in Malaysia since 2017, raising around RM1.5 billion.
Other Malaysians on the list include commodities and real estate magnate Robert Kuok, who took the country’s top spot with an estimated net worth of US$12.5 billion, up from US$9.6 billion last year; Hong Leong Co executive chairman Quek Leng Chan with US$9.7 billion; and Ananda Krishnan (US$5.8 billion), whose company owns stakes in Maxis, Astro and others.
All the Malaysian businessmen who made this year’s list saw their income rise in the last 12 months, despite the Covid-19 pandemic’s effect on the economy at large.
Top Glove founder and executive Lim Wee Chai’s net worth nearly tripled from US$1.3 billion to an estimated US$3.5 billion this year, despite the trouble the glove maker has faced due to allegations of poor working standards.
Kuan Kam Hon, founder and chairman of fellow glove producer Hartalega Holdings Bhd, also saw a boost this year, with a net worth of US$3.9 billion compared with US$2.6 billion last year.
Other Malaysians on the list include Teh Hong Piow of Public Bank Bhd (US$5.7 billion), brothers Lee Yeow Chor and Yeow Seng (IOI Group, US$5.1 billion), Koon Poh Keong (Press Metal, US$4 billion), Lim Kok Thay (Genting, US$2.7 billion), Lau Cho Kun (Hap Seng Consolidated, US$2.2 billion), Jeffrey Cheah (Sunway Group, US$1.3 billion) and Syed Mokhtar Al-Bukhary (US$1.2 billion). – FMT Reporters