The Richest Men in Malaysia
by kalyani10
Lee Shin Cheng
With a net worth of $5.2 billion, Cheng is next to feature on the list of Malaysia’s richest men. Lee Shin Cheng heads IOI Corporation Berhad, better known as IOI Group, as its executive chairman. Listed in Bursa Malaysia, IOI is one of the world's leading conglomerate managing oil palm plantations, specialty fats, oleo chemicals and metallic stearates in Malaysia, Indonesia, United States, and Europe. The IOI refinery in Rotterdam, the Netherlands is the largest palm oil refinery in Europe. Apart from oil products, the IOI is also a leading real estate developer in Malaysia whose projects include townships, shopping malls, condominiums, office towers and resorts.
Lee Shin Cheng grew up on a rubber plantation where his father ran a Chinese food shop. Cheng had to leave school when only eleven to help support his family which he did by selling ice cream on a bicycle for 4 years before returning to finish high school. The 73 year old self-made billionaire now lives in Jeram, Malaysia; he is married and father of six children, all of who now work for his companies.
Teh Hong Piow
Banking mogul, Teh Hong Piow is the next Malaysian to feature on the country’s rich list with a net worth of $5billion. Currently the Chairman of Public Bank Berhad in Malaysia, The Hong Piow began his banking career in 1950 as a Bank Clerk in Overseas-Chinese Banking Corporation Ltd. And rose in rank to officer within five years. He joined Malayan Banking Berhad as Manager in 1960. Later in 1964, he was promoted to the position of General Manager at the young age of 34. Teh then left Malayan Banking in 1966 to set up Public Bank which is now Malaysia's third-largest banking group. The Group also owns one of the largest private mutual fund management companies in the country. Apart from this, He is also a big shareholder of LPI Capital, a general insurance company in Malaysia and Singapore.
Born in Singapore in 1930, The Hong Piow completed his formal primary and secondary education at the Anglo-Chinese School in the island state. He has been married to Puan Sri Tay Sock Noy since 1956 and they have four children - three daughters and a son.
Quek Leng Chan
With a net worth of $4.2 billion, Quek Leng Chan is the next richest man in Malaysia. He has extensive business interests in various sectors, including financial services, manufacturing and real estate. Chan is chiefly known as the head of the conglomerate Hong Leong Group Malaysia and owes the biggest part of his fortune to its Hong Kong-listed investment holding company Guoco Group. Apart from these, Chan has interests in financial services, property development and hotels across Southeast Asia.
Quek Leng Chan was again born in Singapore though he moved early to Malaysia where he built his fortune. He is married and father of three children; currently he lives in Wee, Malaysia.
Syed Mokhtar Al-Bukhary
Syed Mokhtar Shah bin Syed Nor Al-Bukhary is among the richest Bumiputra corporate figure in Malaysia with a net worth of $3.3 billion. He has interests in diversified business areas including transportation and logistics, plantations, property development, defense and armory as well as engineering and power generation. However he made his wealth with Malaysia Mining Corp. That operates Johor Port as well as the state's airport. Al-Bukhary won a big contract with Gamuda to oversee construction of the mass-transit rail system in Kuala Lumpur.
The 60 year old self-made billionaire is married and father of six children. He resides in Kuala Lumpur and as part of his philanthropic endeavours, Bukhary Set up Albukhary International University, and his Albukhary Foundation funds remedial classes for thousands of underachieving students from poor rural families each year.
Tiong Hew King
With a net worth of $1.5 billion, Tiong Hew King is easily one of the richest men in Malaysia. King is the founder and chairman of the Rimbunan Hijau Group, a timber company set up in 1975 whose timber operations in Papua New Guinea are the largest in that country. He also has interests in logging operations in Russia. Apart from timber, Tiong's Rimbunan Hijau Group also controls Sin Chew Jit Poh and Guang Ming Daily, two of the major Chinese national dailies in Malaysia, The National Daily in Papua New Guinea and Ming Pao Holdings Ltd in Hong Kong. In recent times he has been in news for forging a global Chinese publishing group with his Ming Pao Enterprises with the result that his Media Chinese International publishes more than 30 magazines and newspapers in North America, Southeast Asia and China.
A Malaysian of Chinese origin, the 77 year old billionaire resides Sibu, a town in Sarawak, of Borneo island. He is married and has four children.
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Since its independence from the British colonial empire, Malaysia has had one of the best economic records in Asia, with GDP growing an average 6.5% for almost 50 years. Though traditionally the Malaysian economy has been based on its rich natural resources, in recent times it has been expanding in the sectors of science, tourism, commerce and medical tourism. Here are some of the richest men in Malaysia who have taken advantage of upcoming opportunities and found a place among the world’s billionaires too.
Robert Kuok
With a net worth of $12.8 billion, Robert Kuok is the richest Malaysian on the planet and also ranks 64th on Forbes 2012 List of world billionaires1. The chief source of his wealth is stake in Wilmar, the world's largest listed palm oil company; apart from this, Kuok has interests in sugar, shipping as well as real estate. His Kuok Group boasts a huge network of companies under three main holding companies, in Hong Kong, Singapore and Malaysia. Kuok also controls the South China Morning Post, once the world's most profitable daily newspaper. Currently Wilmar is run by nephew Kuok Khoon Hong, a Singapore citizen who's also a billionaire thanks to his 10% stake.
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Though a Malaysian citizen, Robert Kuok resides in Hong Kong where a large portion of his business interest lies. The eighty-nine old self-made billionaire is married and father of eight children.
Anand Krishnan
Anand Krishnan is the second richest Malaysian with a net worth of $9.9 billion. Krishnan is the owner of Maxis Communications is Malaysia's biggest cell phone service provider. Krishnan overtook many a Malaysian to win the second-richest spot with recent gains, as he took three of his companies private: satellite broadcaster Astro All Asia Networks, power and gambling company Tanjong and satellite operator Measat Global. Krishnan’s first entrepreneurial venture was a Malaysian consultancy Usaha Tegas. He set up Exoil Trading, which went on to purchase oil drilling concessions in various countries. Later, he moved into gaming and made his fortune in Malaysia. In the early part of the 1990s, he started diversifying into the multimedia arena.
The 73 year old billionaire is of Sri Lankan origin and lives in Kuala Lumpur; he is married and has three children. A major philanthropist, Krishnan focuses on developing Malaysia's talent pool by funding scholarships and school programs.
Lee Shin Cheng
With a net worth of $5.2 billion, Cheng is next to feature on the list of Malaysia’s richest men. Lee Shin Cheng heads IOI Corporation Berhad, better known as IOI Group, as its executive chairman. Listed in Bursa Malaysia, IOI is one of the world's leading conglomerate managing oil palm plantations, specialty fats, oleo chemicals and metallic stearates in Malaysia, Indonesia, United States, and Europe. The IOI refinery in Rotterdam, the Netherlands is the largest palm oil refinery in Europe. Apart from oil products, the IOI is also a leading real estate developer in Malaysia whose projects include townships, shopping malls, condominiums, office towers and resorts.
Lee Shin Cheng grew up on a rubber plantation where his father ran a Chinese food shop. Cheng had to leave school when only eleven to help support his family which he did by selling ice cream on a bicycle for 4 years before returning to finish high school. The 73 year old self-made billionaire now lives in Jeram, Malaysia; he is married and father of six children, all of who now work for his companies.
Teh Hong Piow
Banking mogul, Teh Hong Piow is the next Malaysian to feature on the country’s rich list with a net worth of $5billion. Currently the Chairman of Public Bank Berhad in Malaysia, The Hong Piow began his banking career in 1950 as a Bank Clerk in Overseas-Chinese Banking Corporation Ltd. And rose in rank to officer within five years. He joined Malayan Banking Berhad as Manager in 1960. Later in 1964, he was promoted to the position of General Manager at the young age of 34. Teh then left Malayan Banking in 1966 to set up Public Bank which is now Malaysia's third-largest banking group. The Group also owns one of the largest private mutual fund management companies in the country. Apart from this, He is also a big shareholder of LPI Capital, a general insurance company in Malaysia and Singapore.
Born in Singapore in 1930, The Hong Piow completed his formal primary and secondary education at the Anglo-Chinese School in the island state. He has been married to Puan Sri Tay Sock Noy since 1956 and they have four children - three daughters and a son.
Quek Leng Chan
With a net worth of $4.2 billion, Quek Leng Chan is the next richest man in Malaysia. He has extensive business interests in various sectors, including financial services, manufacturing and real estate. Chan is chiefly known as the head of the conglomerate Hong Leong Group Malaysia and owes the biggest part of his fortune to its Hong Kong-listed investment holding company Guoco Group. Apart from these, Chan has interests in financial services, property development and hotels across Southeast Asia.
Quek Leng Chan was again born in Singapore though he moved early to Malaysia where he built his fortune. He is married and father of three children; currently he lives in Wee, Malaysia.
Syed Mokhtar Al-Bukhary
Syed Mokhtar Shah bin Syed Nor Al-Bukhary is among the richest Bumiputra corporate figure in Malaysia with a net worth of $3.3 billion. He has interests in diversified business areas including transportation and logistics, plantations, property development, defense and armory as well as engineering and power generation. However he made his wealth with Malaysia Mining Corp. That operates Johor Port as well as the state's airport. Al-Bukhary won a big contract with Gamuda to oversee construction of the mass-transit rail system in Kuala Lumpur.
The 60 year old self-made billionaire is married and father of six children. He resides in Kuala Lumpur and as part of his philanthropic endeavours, Bukhary Set up Albukhary International University, and his Albukhary Foundation funds remedial classes for thousands of underachieving students from poor rural families each year.
Tiong Hew King
With a net worth of $1.5 billion, Tiong Hew King is easily one of the richest men in Malaysia. King is the founder and chairman of the Rimbunan Hijau Group, a timber company set up in 1975 whose timber operations in Papua New Guinea are the largest in that country. He also has interests in logging operations in Russia. Apart from timber, Tiong's Rimbunan Hijau Group also controls Sin Chew Jit Poh and Guang Ming Daily, two of the major Chinese national dailies in Malaysia, The National Daily in Papua New Guinea and Ming Pao Holdings Ltd in Hong Kong. In recent times he has been in news for forging a global Chinese publishing group with his Ming Pao Enterprises with the result that his Media Chinese International publishes more than 30 magazines and newspapers in North America, Southeast Asia and China.
A Malaysian of Chinese origin, the 77 year old billionaire resides Sibu, a town in Sarawak, of Borneo island. He is married and has four children.
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