KUALA LUMPUR: Telecommunications billionaire T. Ananda Krishnan is now the richest man in Malaysia.
With a fortune estimated to be around RM30.56 billion, he takes over the top spot previously held by ‘Sugar King’ Tan Sri Robert Kuok.
A research conducted by Chinese daily Nanyang Siang Pau showed that Ananda received a boost in his wealth when Astro Malaysia Holdings Bhd was listed on the Bursa Malaysia last year.
The research showed that Kuok, who has investments in the hotels and resorts sector, agriculture and shipping industry, slipped from the number one spot, with a combined fortune of RM29.4 billion.
Kuok was last year’s richest Malaysian, based on the rankings issued by Malaysian Business, with an estimated fortune of RM45.7 billion, but his wealth receded by RM16.3 billion this year.
It is estimated that for 2012, the three men’s combined wealth is approximately RM75 billion.
Meanwhile, Tan Sri Lee Shin Cheng of IOI Corporation Berhad, who is involved in among others, the agriculture and real estate industries, maintains his fourth spot on the list with an estimated worth of RM14.68 billion, compared to RM11.36 billion last year.
In fifth place is Tan Sri Lim Kok Thay from the Genting Group with RM14.17 billion, a jump from seventh place with RM7.58 billion last year.
He is followed by Tan Sri Quek Leng Chan from the Hong Leong Group, who retains his sixth spot. His fortune increased from RM8 billion last year to RM10.42 billion this year.
The riches of Tan Sri Dr Yeoh Tiong Lay of construction and property giants YTL Corporation went up 11 spots to seventh this year, with RM9.14 billion compared to RM9.53 billion last year.
One of the two Bumiputeras in the list, Tan Sri Syed Mokhtar al-Bukhary, fell from fifth spot to eighth, with RM9.14 billion compared to RM9.54 billion last year.
Ninth and 10th place, respectively, goes to banking magnate Tan Sri Azman Hashim of the AmBank Group, with RM14.8 billion, and Tan Sri Lee Oi Hian of Batu Kawan Bhd, who is worth RM3.95 billion.
The research, the second undertaken by Nanyang Siang Pau, also listed that the total estimated worth of all 10 billionaires is approximately RM141.35 billion.
It also stated that among the 10 richest entrepreneurs in Malaysia, the Chinese captured the top spot with a total worth of RM97.4 billion; Indians with RM30.56 billion; and Malays with RM13.32 billion.
Taken from Malaysian Digest