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 ©The
Straits Times, Singapore (Used by permission)
KUALA LUMPUR - DEPUTY Prime Minister Najib Razak's younger brother has entered
Malaysia's rich list for the first time - coming in at No.40, with a net worth
of US$100 million (S$136 million).
Datuk Nizar, 41, son of the late prime minister Abdul Razak, is chief executive
of financial services firm CIMB and its parent company, Bumiputra Commerce
Holdings.
The other princeling on the list, compiled by Forbes magazine, is Datuk Mokhzani
Mahathir, 47, son of former prime minister Mahathir Mohamad.
At No.20, Datuk Mokhzani has a net worth of US$285 million. He runs the
public-listed petroleum company Kencana, is an amateur race car driver and owns
four Porsches, one of which he drove to podium finish in a 12-hour race in 2006.
Retaining the title of the richest Malaysian is 'Sugar King' Robert Kuok, 84,
with a net worth of US$10 billion, which is a jump of US$2.4 billion from last
year, according to Forbes.
Tan Sri Kuok's nickname comes from the fact that he controls 80 per cent of
Malaysia's sugar market, which is equivalent to about 10 per cent of world sugar
production, even though he now has interests in many businesses, including palm
oil, Hong Kong property and the media.
Tan Sri Ananda Krishnan, 70, owner of Malaysian wireless operator Maxis
Communications, retains the second place with US$7.2 billion of wealth, a US$200
million fall from last year.
Berjaya Corp's chairman Vincent Tan, 56, has climbed up from No.14 last year to
No.9, with a US$1.3 billion fortune.
He became Malaysia's newest billionaire after property acquisitions in Vietnam
helped add almost US$1 billion to his personal wealth.
The collective wealth of the top 40 is US$46 billion, up US$3 billion from last
year.
While 16 people grew richer, 18 saw their net worth slip, seven of whom lost at
least a quarter of their worth.
The Forbes list appears in the magazine's June 2 issue.
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Circular No 304/2008
The Sugar King is 84, Ananda is 70, Vincent is 56, Mahathir's son is 47, and Najib's brother is 41. They are becoming younger and smarter. Smart guys - they are all in the same class of BILLIONAIRES!
Congratulations!
Tan Peek Guat