Below is the Sun’s newspaper 23rd May 2008 edition report on the latest Forbes Asia’s Rich List. This year saw 10 Malaysian billionaires, an addition of one that is Tan Sri Vincent Tan. Kuok who is now 85, has his hands in almost all the pies in Malaysia especially rice, flour, sugar and fertilisers businesses. These are agricultural industries that are heavily subsidised by governments and lightly taxed by the internal revenue board. According to Berita Publishing -Dataniaga publication entitled ” Orang Kaya Malaysia” page 63, historically, Kuok was “very closed” with the Johore Malay leaders especially the late Tun Hussein Onn and Tun Dr Ismail. It is noted that both of them held shares in Kuok’s companies. As a matter of fact, Tan Sri Taib Andak , ex-Felda Chairman was also at one time the director of Federal Flour Mills Bhd. The rest is hiSTORY.
Ananda Krishna, the owner of Maxis studied in the USA and made many Arab friends of note is Sheikh Zaki Yamani who later became the Minister Of Oil for Saudi Arabia. Recently, he sold his shares to the Arab in order to finance his overseas telecommunication ventures.
Lee Shin Cheng’s business was initially in oil palm industry but diversified into properties and oleochemicals. In 2004, his asset was estimated at 3.5 billion but now at 5.5 billion, moving him from the sixth position into third placing in a matter of four years.
Tan Sri Teh Hong Piow of Public Bank is in the fourth position. This man has 3 PhD’s to his credit. Puan Sri Lee Kim Hua, the widow of the late Tan Sri Lim Goh Tong now ranks no 5, who was previously unlisted. Her son, Tan Sri Lim Kok Thay who now runs genting ranks number fifteen with an asset of USD$345 million.
Now three women are listed in the Forbes Asia list namely Pn Sri Lee Kim Hua, Pn Sri Chong Chook Yew of Sealangor Properties and Sultan of Perak’s daughter, YM Raja Datuk Seri Eleena.
Keep it up and top it up ladies. Well done.