Top 20 Richest Malaysian

Top 20 Richest Malaysian

1. ROBERT KUOK HOCK NIEN

Asset: Estimated 45.700 Billion
Company: Kerry Group/ Kuok Group

Robert Kuok Hock is an influential Malaysian Chinese businessman. According to Forbes his net worth is estimated to be around $12.5 billion on July 2012, making him the richest person in Malaysia and Southeast Asia.

Kuok is media-shy; most of his businesses are privately held by him or his family. Apart from a multitude of businesses in Malaysia, his companies have investments in many countries throughout Asia. His business interests range from sugarcane plantations (Perlis Plantations Bhd), sugar refineries, flour milling, animal feed, oil, mining, finance, hotels, properties, trading, freight and publishing. Biggest source of wealth is stake in Wilmar International, the world's largest listed palm oil company. He was a student from the school Raffles Institution.

2. ANANDA KRISHNAN

Asset: Estimated RM42.998 Billion

Company : Usaha Tegas

Tatparanandam Ananda Krishnan (born 1938) is a Malaysian businessman and philanthropist of Sri Lankan Tamil origin. Nicknamed A-K, he is currently estimated to have a net worth of US$9.5 billion according to Forbes' July 2012 list of wealthiest people, making him the second wealthiest in Southeast Asia behind Robert Kuok, and number 89 in the world. Ananda Krishnan shuns public exposure and is known to maintain a low profile for a person of his stature.

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 gambling (in Malaysia). In the early part of the 1990s, he started diversifying into the multimedia arena.

Currently, he has business interests in media (Astro), satellite (MEASAT), oil and gas (Bumi Armada, Pexco), telecommunications (Maxis, Aircel). He owns stakes in Tanjong Public Limited Company, an investment holding company with subsidiaries involved in power generation (Powertek), gaming (Pan Malaysian Pools), leisure (Tropical Islands, TGV Cinemas) and property.

3. TAN SRI TEH HONG PIOW

Asset: Estimated at RM 12.642 Billion

Company: Public Bank

Tan Sri Dato' Seri Dr. Teh Hong Piow, the Chairman of Public Bank Berhad in Malaysia, was born in Singapore on 14 March 1930. He attended his formal primary and secondary education at the Anglo-Chinese School in Singapore. He has been married to Puan Sri Tay Sock Noy since 1956 and they have four children - three daughters and a son.

He 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.

One of Malaysia's wealthiest businessmen, Piow obtained three degrees at the unaccredited Pacific Western University and two PhDs at Clayton University (also unaccredited) and University Malaya. His net worth is estimated by Forbes to be US$4.7 billion.

 

4.  TAN SRI LEE SHIN CHENG

Asset: Estimated at RM11.356 Billion

Company: IOI Group

Tan Sri Dato' Lee Shin Cheng is a Malaysian Chinese business magnate who is heavily involved in the plantation industry.

Lee Shin Cheng heads IOI Corporation Berhad (or better known as IOI Group) as its executive chairman. IOI Group was by Forbes in 2012 a palm oil and real estate development giant. It owned refineries in the U.S. and the Netherlands and won a $322 million bid for a 6-acre plot in downtown Singapore for the residential buildings.

IOI, which is listed in Bursa Malaysia, is one of the world's leading conglomerate managing oil palm plantations, specialty fats, oleo chemicals and property development activities in Malaysia, Indonesia, United States, and Europe. IOI refinery in Rotterdam, the Netherlands is the largest palm oil refinery in Europe. IOI's oil palm plantations in Malaysia and Indonesia produce palm oil and palm kernel oil. These oils are made into specialty oils, metallic stearates and fats that are used in soaps, detergents, cosmetics and food additives. IOI Group is also a leading real estate developer in Malaysia: projects include townships, shopping malls, condominiums, office towers and resorts.

5. TAN SRI SYED MOKHTAR AL-BUKHARY

 

Asset: Estimated at RM 9.530 Billion

Company: Albukhary Foundation

Tan Sri Syed Mokhtar Shah bin Syed Nor Al-Bukhary is the richest Bumiputra corporate figure in Malaysia. With involvement in diversified business areas which include transportation and logistics, plantations, property development, defense and armory as well as engineering and power generation, he has a net worth estimated to be US$2.5 billion according to Forbes in July 2012, making him the 8th richest Malaysian.

6.  TAN SRI QUEK LENG CHAN

 

Asset : Estimated at RM8.002 Billion

Company : Hong Leong Group

YBhg Tan Sri Quek Leng Chan (born 1941, Singapore) is a Malaysian tycoon who co-founded Hong Leong Group Malaysia. He is one of the richest men in Malaysia with an estimated net worth of US$4.8 billion according to Forbes in July 2012.
YBhg Tan Sri Quek Leng Chan studied in Victoria School in Singapore and is qualified as a Barrister-at-Law from Middle Temple, United Kingdom. He has extensive business experience in various sectors, including financial services, manufacturing and real estate. He is the Chairman & Chief Executive Officer of Hong Leong Company (Malaysia) Berhad (“HLCM”), Executive Chairman of Hong Leong Industries Berhad (“HLI”), Hume Industries (Malaysia) Berhad (“HIMB”), Hong Leong Financial Group Berhad, GuocoLand (Malaysia) Berhad, Camerlin Group Berhad and Chairman of Hong Leong Bank Berhad, HLG Capital Berhad (“HLG”), Hong Leong Assurance Berhad, Hong Leong Islamic Bank Berhad and Hong Leong Foundation (“HLF”).

Quek oversees the Malaysian operations of the Hong Leong Group while his cousin and fellow billionaire Kwek Leng Beng oversees the Singapore operations.

7. TAN TAN SRI DATO' LIM KOK THAY

 

Asset: Estimated at RM7.585 Billion

Company: Genting

 

Tan Sri. Kok Thay Lim has been the Chief Executive Officer of Genting Plantations Berhad since February 28, 2008 and serves as its President. Tan Sri. Lim serves as Chief Executive and President of Resorts World Bhd ("RWB"). He has been the Chief Executive Officer of Genting Malaysia Berhad, a subsidiary of Genting Berhad, since November 2002. He is the Founder of Freemantle Limited. He serves as Joint Chief Executive Officer of Asiatic Development Berhad. He has been the Chief Executive Officer of Genting Hong Kong Limited since November 2000. He has been the President and Chief Executive of the Genting Group since November 2002. He has been the Chief Executive Officer of Genting Berhad since July 1, 2007 and served as its President. He is instrumental in the internationalization of the Genting Group and was the key driver behind the developments of its casino projects world wide, such as the Burswood Resort Casino (Australia), Adelaide Casino (Australia), Lucayan Beach Resort (Bahamas) and Subic Bay Resort & Casino (Philippines). He served as the Joint Chief Executive Officer of Genting Plantations Berhad since April 1999. He served as the President of Genting Malaysia Berhad since November 2002. He has more than 30 years of experience in the development of casino and leisure related businesses world wide and having served the Genting Group for the past 30 years. Tan Sri. Lim served as the President of Genting Hong Kong Limited since November 2000. He has an interest in the securities of Star Cruises and has been since its formation in 1993. Tan Sri. Lim served as the Managing Director of Resorts World Bhd, Malaysia from March 1999 to November 2002 and as its Deputy Managing Director from September 1989 to March 1999. He was involved in the development of Genting Highlands Resort in Malaysia and the overall concept and development of the Burswood Resort in Perth, Australia, the Adelaide casino in South Australia and Foxwoods Casino Resort in Connecticut. He served as the Managing Director of Genting Berhad from April 1999 to November 2002 and as its Joint Managing Director from December 1985 to April 1999. Tan Sri. Lim has been an Executive Chairman of Genting Berhad since January 1, 2004. He has been the Chairman of Norwegian Cruise Line Holding Ltd. since December 16, 2003. He has been Executive Chairman of Genting International PLC since September 1, 2005. He has been Chairman of the Genting Group since December 31, 2003. He serves as an Executive Chairman of Resorts World at Sentosa Pte. Ltd. He has been an Executive Chairman of Genting Singapore PLC since September 1, 2005. Tan Sri. Lim has been Chairman of the Board of Genting Hong Kong Limited since December 1997. He serves as the Chairman of Genting Malaysia Berhad and has been its Director since October 17, 1988. He has been an Executive Director of Genting Hong Kong Limited since September 1994. He serves as a Director of Asiatic Development Berhad. Tan Sri. Lim has been Director of Genting Berhad since August 17, 1976. He serves as a Director at Norwegian Cruise Line Holding Ltd. He has been Director of Genting International plc since 1986. He serves as a Director of Kien Huat Berhad, Joondalup Limited, and Cove Investments Limited. He has been a Director of Genting Singapore PLC since 1986 and TauRx Pharmaceuticals Ltd. since November 20, 2012. He serves as a Director of DNA Electronics Limited and Synthetic Genomics, Inc. He serves as Director of Kien Huat Realty Sdn Bhd. He has been an Executive Director of Genting Plantations Berhad since September 22, 1977. He serves as a Director of Golden Hope Limited and Golden Hope Unit Trust. In addition, he sits on the boards of other Malaysian and foreign companies; as well as on the Board of trustees of several charitable organizations in Malaysia. He served as a Director of Pacific Lottery Corp. from 2003 to November 19, 2004. He served as a Director of Union Bank of Colombo PLC. He was bestowed the highly prestigious national award, the Panglima Setia Mahkota, which carries the titleship of "Tan Sri" by the Yang DiPertuan Agong of Malaysia on 1 June 2002. Tan Sri. Lim received Bachelor of Science Degree in Civil Engineering from the University of London in 1975 and attended the Program for Advanced Management Development Degree at the Harvard Graduate School of Business in 1979.

8. Puan Sri Lee Kim Hua

Asset : Estimated at RM6.588 Billion

Company: Genting

Widow of casino magnate Lim Goh Tong. Net worth up $1.4 billion as stocks of family's Genting and Genting Hong Kong (previously named Star Cruises) both rose nearly 50% in the past year.

9. TAN SRI DATUK SIR TIONG HIEW KING

Asset : Estimated at RM 6.411 Billion

Company: Rimbunan Hijau Group

Tan Sri Datuk Sir Hiew-king Tiong is the Malaysian Chinese founder and chairman of the Rimbunan Hijau Group, a timber company founded in 1975. Its overseas timber operations in Papua New Guinea are the largest in that country. He also has interests in logging operations in Russia.

Tan Sri Datuk Tiong resides in Sibu, a town in Sarawak, of Borneo island that belongs to Malaysia. With a reported net worth of about US$1.2 billion in July 2012.

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. He is forging a global Chinese publishing group with his Ming Pao Enterprises; Ming Pao newspaper is also available in San Francisco (no longer in business since Feb. 15, 2009), New York, Vancouver and Toronto.

10. ONG BENG SENG

 

Asset : Estimated at RM 4.919 Billion

Company: Hotel Properties Ltd

Mr. Beng Seng Ong Co-founded Hotel Properties Ltd. and serves as its Managing Director. Mr. Ong is responsible for all aspects of strategic planning and business development activities of the HPL Group. He has 30 years of experience in the hotel and property development, hotel management, real estate and retail industries. He has been an Executive Non-Independent Director of Hotel Properties Limited since March 5, 1980. He joined Motor & General Underwriters Investment Holdings Ltd in 1972. Mr. Ong is an Associate of Chartered Insurance Institute of England.

11. TAN SRI AZMAN HASHIM

 

 

 

Asset : Estimated at RM 3.470 Billion

Company : Arab-Malaysian corp

Tan Sri Dato Seri Azman Hashim, Tsdah, PSM, DPMS, JMN, KMN has been an Executive Chairman of AmcorpGroup Berhad (formerly, ARAB-MALAYSIAN CORPORATION BERHAD) since 1993. Tan Sri Dato Seri Hashim serves as the Chairman at AmG Insurance Berhad. He has been involved in the banking industry since 1960. He joined Bank Negara Malaysia in 1960 and served there until 1964. He worked at Institute Of Chartered Secretaries & Administrators. He has been Non-Executive Chairman of Arab-Malaysian Finance Berhad's (AMFB) since 1982. He serves as Chairman of the Board for AmFamily Takaful Berhad and AmIslamic Bank Berhad. He has been the Chairman of AMFB Holdings Bhd since 1982. He serves as Chairman of the Board of AmBank Group and AmBank (M) Berhad, Rediffusion Berhad and MCM Technologies Bhd. He serves as Executive Chairman of RCE Capital Berhad and served as its Non-Independent Executive Chairman since June 1, 2007. He has been Chairman of AMMB Holdings Berhad (also known as AmBank Group) since August 15, 1991. He has been Non-Independent Non-Executive Chairman of AmProperty Trust Management Berhad of AmFirst Property Trust since November 13, 2002. He serves as the Chairman of AmInvestment Bank Berhad. He serves as Chairman of the Board at National Productivity Corporation and Malaysian South-South Corporation Berhad and Institute Of Bankers Malaysia (aibm). He has been Non-Independent Non-Executive Chairman of AmInvestment Bank Group since 2005. He serves as Chairman Emeritus of Pacific Basin Economic Council (PBEC) International. He serves as Chairman and Trustee of AmGroup Foundation, ECM Libra Foundation and Perdana Leadership Foundation. He served as Executive Chairman of Kwong Yik Bank Berhad (now “RHB Bank Berhad“) from 1980 to April 1982. He served as Chairman of AmCorp Properties Berhad (also known as AMDB Bhd) from June 19, 1981 to July 30, 2007. He served as Chairman of South Peninsular Industries Bhd. He has been Director of AmProperty Trust Management Berhad of AmFirst Property Trust since October 26, 1989. He has been an Executive Director of AmcorpGroup Berhad June 9, 1988. He has been a Director of MCM Technologies Bhd since August 22, 2001, Arab-Malaysian Finance since May 19, 1982, AMFB Holdings Bhd since May 19, 1982, AMMB Holdings since August 15, 1991 and AmInvestment Bank Group since January 4, 2005. He serves as a Director of AmInvestment Bank Berhad. He has been Director of RCE Capital Berhad since December 2, 1998. He serves as a Director of Arab-Malaysian Credit Berhad, Pembangunan MasMelayu Berhad, AmFinance Berhad, AmAssurance Berhad, Islamic Banking and Finance Institute Malaysia Sdn. Bhd. and Multimedia Development Corporation Sdn. Bhd. He is on the Board of Advisors of AIM Centre for Corporate Social Responsibility. He serves as Trustee for Yayasan Azman Hashim, Yayasan Perpaduan Nasional, Malaysian Liver Foundation, Yayasan Tuanku Najihah and Yayasan Canselor Open University Malaysia. He serves as a member on the Board of the Asian Institute of Finance Berhad. He serves as a Member of Training & Education Advisory Council of Islamic Banking and Finance Institute Malaysia Sdn. Bhd. He served as a Director of Cagamas Berhad and RCE Capital Bhd. He served as a Director of South Peninsular Industries Bhd since February 14, 1995. He served as a Director of Amcorp Properties Berhad until July 30, 2007 and Malayan Banking Berhad (Maybank) from 1966 to 1980. He serves as President of Malaysia South-South Association, Malaysia-Japan Economic Association and the Malaysian Medical Association Foundation, Malaysian Prison FRIENDS Club and Non-Aligned Movement's (NAM's) Business Council. He is the Treasurer for the Malaysia-US Private Sector Consultative Group and the Malaysia-Australia Foundation, the Chairman of Association of Merchant Banks in Malaysia, and the East Asia Business Council, Co-Chairman of Malaysia-Singapore Roundtable and Vice-Chairman of Malaysian Business Council. He is the Pro-Chancellor of Open University of Malaysia, a member of the Governing Body of Asian Productivity Organisation and the International Advisory Panel of Bank Negara Malaysia International Centre for Education in Islamic Finance (INCEIF). He is the Leader of the ASEAN-Japanese Business Meeting (Malaysia Committee, Keizai Doyukai) and Patron of the Malaysian Endurance Riding Society. He is a Member of the National Economic Consultative Council II, the Business Advisory Council of APEC (“ABAC”), Trilateral Commission (Asia-Pacific Group), the Malaysian-British Business Council and the Malaysia-China Business Council. From 1964 to 1971, he practiced as a Chartered Accountant in Azman Wong Salleh & Co. He is a Chartered Accountant and Fellow of the Institute of Chartered Secretaries & Administrators and the Institute of Bankers Malaysia.

12. TAN SRI VINCENT TAN CHEE YIOUN

 

Asset : Estimated at RM 2.541 Billion

Company: Berjaya Group

Tan Sri Dato' Seri Vincent Tan Chee Yioun (born 1952) is the current owner of Cardiff City F.C. and also is the Chairman and Chief Executive of Berjaya Corporation Berhad, which controls a wide array of businesses which includes golfing, property, resorts, and gambling in a group known as the Berjaya Group. He operates the second pay-TV service in Malaysia, MiTV, that was launched in September 2005. In 2010 he entered the Forbes billionaire list with an estimated worth of US$1.3 billion (RM4.2 billion). Tan's success in the Malaysian business sector has been attributed in part to his close association with prominent Malay political figures.

Tan was born in 1952, in Batu Pahat, Johor. He worked as a clerk and an insurance agent before going into business in the 1980s. In 1982 he purchased Malaysia's McDonald's franchise and in 1985 he bought Sports Toto when the lottery agency was privatized by the government.[4] Vincent Tan has had close links with Mahathir Mohamad and his family, the ex-prime minister of Malaysia. Vincent Tan obtained the license of his lottery business from an untendered privatization in 1985 (Studwell, Joe; Asian Godfathers, page 130, Grove Press, 2007)

On 23rd of February 2012, Vincent has decided to retire from an active corporate role in (B-Corp), the flagship of the Berjaya Group of Companies.

13. DATO 'MOKHZANI BIN MAHATHIR 

 

Asset :  Estimated at RM 1.937 Billion

Company: Kencana Petroluem

Datuk' Mokhzani bin Tun Dr. Mahathir (born January 1961) is the second son of Former Prime Minister of Malaysia Tun Dr. Mahathir Mohamad and Tun Dr. Siti Hasmah. Like his younger brother Mukhriz, Mokhzani is a businessman and had played an active role in United Malays National Organisation (UMNO), and at one time serving as the Youth's Wing treasurer. As of 2006, Mokhzani was an UMNO delegate of one of the constituencies in Kedah, but has since lain dormant in his political activities. In May 2008, he followed his father's footsteps to quit UMNO, after 22 years as a member of the Sungai Layar Hujung branch of UMNO.

Mokhzani has been listed as the 14th richest person in Malaysia by Forbes Asia with an estimated net worth of US$685 million in 2012. Mokhzani is also the chairman of the Sepang International Circuit.

14. DATUK LEE YEOW CHOR

 

Asset : Estimated at RM 1.787 Billion

Company: IOI Group

Dato. Lee Yeow Chor, DSAP serves as Group Director of Business Operations at IOI Oleochemical Industries Bhd. Dato. Lee serves as Director of Business Operation of IOI Corp.Bhd. and IOI Properties Bhd. Dato. Lee joined IOP Group as General Manager in 1994. He is an actively involved in overseeing the various business operations of IOI Group. Prior to IOI Group, he served in various capacities in the Attorney General's Chambers and Malaysian Judiciary Department for four years. He served at the Judiciary Department as a Magistrate. Dato. Lee serves as the National Secretary-General of the Malaysia Real Estate and Housing Developers' Association (REHDA). He serves as a Council Member of the Malaysian Palm Oil Association (MPOA) and a Council Member of the Malaysian Association of Hotel Owners. Dato. Lee has been an Executive Director at IOI Properties Berhad and IOI Corporation Berhad since April 25, 1996. Dato. Lee has been Executive Director of IOI Investment (L) Berhad since March 23, 2012. Dato. Lee has been a Non Executive Director of Bumitama Agri Ltd since March 23, 2012. Dato. Lee has been an Executive Director of IOI Oleochemical Industries Berhad (formerly, Palmco Holdings Berhad) since March 28, 1997. He graduated with a LLB (Honours) from King’s College at University of London and was called as a Barrister at Gray’s Inn. He holds a Postgraduate Diploma in Finance and Accounting from the London School of Economics.

15. TONY FERNANDES

 

Asset : Estimated at RM 1.772 Billion

Company: Air Asia

Dr. Anthony Francis Fernandes, Ph.D., Tony, serves as Senior Advisor of Crescent Point Group. Dr. Fernandes served as Group Chief Executive Officer of AirAsia Berhad until June 2012. Dr. Fernandes served as Group Chief Executive Officer of AirAsia ASEAN Inc. He joined AirAsia Berhad in 2001. He served as Financial Controller of Virgin Communications London from 1987 to 1989. He served as Senior Financial Analyst at Warner Music International London from 1989 to 1992. He served as Managing Director of Warner Music Malaysia from 1992 to 1996. He served as Regional Managing Director of Asean from 1996 to 1999 and Vice President, Asean at Warner Music South East Asia from 1999 to 2001. He co-founded TMSB and Tune Group Sdn Bhd. he serves as a Non-Independent Non-Executive Director of TMSB and Tune Group Sdn Bhd. Dr. Fernandes has been an Independent Non Executive Director of Star Publications Malaysia Bhd since May 23, 2012. He serves as a Director of AirAsia (B) Sdn Bhd. He serves as a Director of Airspace Communications Sdn. Bhd. He has been a Non-Independent Non-Executive Director at Tune Ins Holdings Berhad since October 5, 2012 and serves as its Member of Nomination Committee. He serves as a Member of Advisory Board and Member of the Board of Directors at Crescent Point Group. Dr. Fernandes has been a Non-Executive Director at AirAsia Berhad since June 30, 2012, AirAsia X Berhad since July 18, 2006 and Caterham Cars Group Limited since April 1, 2012. He served as a Non-Independent Non-Executive Director of Malaysian Airline System Bhd from August 11, 2011 to April 30, 2012. He served as a Non-Independent Non-Executive Director of AirAsia Berhad. He was the proud recipient of the Masterclass Global CEO of the Year award at the 2nd Malaysia Business Leadership Award (MBLA) 2010 ceremony for his immense contributions to the country’s economy. Dr. Fernandes graduated with a Bachelor of Science in Accounting and Finance from the London School of Economics in 1987. He was admitted as an Associate Member of the Association of Chartered Certified Accountants in 1991, and became a Fellow Member in 1996. He also received an Honorary Doctorate of Business Innovation from Universiti Teknologi Malaysia (UTM) in March 2010.

16. LEE YEOW SENG

Asset : Estimated at RM 1.746 Billion

Company: IOI Group

Mr. Yeow Seng Lee served as Special Assistant to Group Chief Executive Officer and Executive Chairman at IOI Group since 2002. Mr. Lee served at the London and Singapore offices of a leading international financial services group. He has been an Executive Director of IOI Investment (L) Berhad since June 3, 2008. Mr. Lee has been an Executive Director of IOI Corp. Bhd. since June 3, 2008. Mr. Lee is involved in corporate affairs and general management within the IOI Group. He has been an Executive Director of IOI Properties Berhad since September 2010. He serves as a Member of the Board of Directors at Resort Villa Golf Course Bhd. He serves as a Director of IOI Oleochemical Industries Sdn Bhd. Mr. Lee holds a LLB (Honours) from King’s College London and was admitted to the Bar of England & Wales by Inner Temple.

17. TAN SRI LAU CHO KUN

Asset : Estimated at RM 1.721 Billion

Company: Hap seng

 

Hap Seng Consolidated Bhd is a diversified and well-established companies in Malaysia, with interests in

1) Plantations

2) Property investment and development

3) Credit Financial

4) Trading

5) Building materials

6) Stone Quarries

Hap Seng’s fortunes revolved around one man, business maverick Lau Gek Poh, who arrived in what was then known as British Borneo in 1936 at the age of 19, a small-town boy from Swatow in Guangzhou.

Lau Gek Poh began his business life in Sabah before the Second World War as a  migrant from China. Through sheer determination, toil, endeavours and hard work, he succeeded in creating the business enterprise of Gek Poh Group.

Started out as a shop assistant in Sandakan, Lau moved to Tawau, where he pawned his wife’s jewellery as capital to start a sundry shop, Hup Seng, with a friend. Business was good, but Lau had big dreams as he realized the shop had only a limited potential.

Looking for another opportunity, he decided to go into timber from which he made his first RM1 million. By the 1970s, he was the “timber king of Sabah”. Restless and entrepreneurial, Lau could not narrow his vision to timber industry alone.

Like most timber tycoons, he made a lateral move into rubber, cocoa and oil palm plantations. He incorporated The River Estates Ltd in 1950 which was later known as Hap Seng Plantations (River Estates) Sdn Bhd. As heavy machinery was required in the logging industry, he invested in its distribution.
The East Asiatic Co (M) Bhd
The formerly The East Asiatic Co (M) Bhd was listed on the then Kuala Lumpur Stock Exchange in 1978.

In 1969, Hap Seng Auto Sdn Bhd was incorporated under the name of Si Khiong Industries Sdn Bhd and Lau acquired the dealership for Mercedes Benz. He also ventured into a fertilizer business in the same year and Hap Seng Fertilizers was set up as Sasco Sdn Bhd, a subsidiary of Gek Poh (Holdings) Sdn Bhd.

The Lau family recently raised their shareholding in Hap Seng Consolidated, in which it currently owns a 67% stake, via Gek Poh (56%) and Lei Shing Hong Investments (11.05%). The family privatized Malaysian Mosaics Bhd, a mosaic and tile maker, in July last year after a hefty selective capital repayment of RM2.30 per share and held a 73.08% equity interest in the company before the privatization exercise. Despite their controlling stake, professional managers have been brought in to run the show.

Malaysian Mosaics was the parent company, owning 52.99% of Hap Seng Consolidated, until its stake was disbursed on Aug 11, 2006 to Gek Poh, the main shareholder of Malaysian Mosaics. Malaysian Mosaics wholly owns MML Marketing Sdn Bhd and is a manufacturer and distributor of homogeneous porcelain tiles, mosaics and ceramic tiles.
The Panglima Setia Mahkota award, which carries the title “Tan Sri” was bestowed by His Majesty Yang DiPertuan Agong Sultan Salahuddin Abdul Aziz Shah on the occasion of the King’s birthday on 3 June 2000, in recognition of his magnanimous contribution to Malaysia.

Sabah’s formal Chief Minister, YAB Datuk Musa Aman, also presented him with the Diamond Award on 31 May 2003 for his many valuable contributions to society.

The Malaysian Mosaics and Hap Seng Consolidated Group are well diversified public companies involved in tile manufacturing, plantations, property ownership and development, automotive retailing, credit financing, fertilizer distribution, quarry and building materials distribution.

A wholly owned subsidiary, Si Khiong Star Sdn Bhd, located at Jalan Sultan Ismail, Kuala Lumpur, is  an authorized dealer for Mercedes-Benz passengers cars in Malaysia.

18. TAN SRI DATO' SERI DR. YEOH TIONG LAY

 

Asset: Estimated at RM 1.711 Billion
Company : YTL Corporation

Tan Sri Dato' Seri Dr. Yeoh Tiong Lay is a Malaysian business tycoon and a prominent philanthropist. He founded YTL Corporation, Malaysia's biggest and most successful conglomerate with interests in construction, utilities, hotels, property development and technology. YTL is based primarily in Malaysia but has extensive operations in Asia, Australia and the United Kingdom, where it owns the utility Wessex Water. YTL Corp has over $3 billion in cash.

19. TAN SRI LEE OI HIAN

Asset: Estimated at RM 1.589 Billion
Company : Batu Kawan

Tan Sri Dato' Seri Lee Loy Seng was born in Menglembu on 22 Aug 1921, and grew up in Ipoh, capital of Perak state.

His father, Lee Meng Hin was a tin miner who gave then Malayan economy a boost. After Lee Meng Hin's reign, his company was passed on to the older son, Lee Wan Seng, and Loy Seng worked just as an employee during the early years of his life. After Malaya's independence, the British merchants had to leave and lands were being sold at a very low price. Loy Seng saw the opportunity of a lifetime to invest in these lands and bought them, turning them into a rubber plantation. With luck on his side, the price of rubber was rising immensely due to the industrial rise. As he built up his fast blooming company, Mr. Lee founded the company Kuala Lumpur Kepong Berhad, one of the leading plantation owning companies inMalaysia.

His sons Datuk Lee Oi Hian, Datuk Lee Hau Hian and Datuk Lee Soon Hian are considered to be in the top 20 richest people in Malaysia with estimated net worths of US$250m each.

20. DATUK LEE HAU HIAN

 

Asset: Estimated at RM 1.586 Billion
Company : Batu Kawan

Dato. Hau Hian Lee, D.P.M.P serves as Managing Director of Batu Kawan Berhad. Dato' Lee serves as President of the Perak Chinese Maternity Association and the Treasurer of the Perak Entrepreneurial Skills & Development Centre. Dato' Lee was the Chairman of the Malaysian International Chamber of Commerce & Industry, Perak Branch. Dato' Lee started his career with Kuala Lumpur Kepong Berhad as a Purchasing Officer and later as a Senior Executive. He has been an Executive Director of Batu Kawan Berhad since December 20, 1993. He has been Non-Executive Director of Yule Catto & Co. PLC since September 5, 2002. He joined the Board of Yule Catto & Co PLC in 1993 and stood down in 2000. Dato' Lee has been Non Independent Non Executive Director of Kuala Lumpur Kepong Berhad since December 20, 1993. He serves as a Director of Asia Pacific Specialty Chemicals Ltd. He has been a Non-Executive Director of Synthomer plc since September 2002. He served as a Non-Independent Non-Executive Director of Heitech Padu Berhad from April 1, 2000 to June 15, 2006 was a member of its Nomination Committee, Remuneration Committee and Employee Share Option Scheme (ESOS) Committee. Dato' Lee graduated with a Bachelor of Science degree in Economics from the London School of Economics and has an MBA degree from Stanford University, California.