ROBERT Kuok remains Malaysia's richest person with a fortune of US$12.5 billion (RM39 billion), according to the latest Forbes rich list.
Malaysia now also boasts of 14 billion-dollar fortunes, up from 11 a year ago.
The Kuala Lumpur Composite Index has moved up four per cent over the past year and during this period, the country's gross domestic product rose 6.4 per cent.
In the process, a total of 23 tycoons on the list saw their wealth rise with Kuok heading it for the eighth straight year with a net worth of US$12.5 billion.
A close second is T. Ananda Krishnan, who saw his fortune rise from US$9.9 billion in 2012 to US$11.7 billion this year.
Among recent deals that added to his wealth were the sale of a stake in telecom giant Maxis and the listing of his pay-TV operator Astro, which he took private in 2010 and raised US$1.5 billion in the process.
Ananda also sold the power business of privately-held Tanjong for US$2.8 billion.
Tan Sri Lim Kok Thay, son of the late casino magnate Tan Sri Lim Goh Tong, runs Genting Group with resorts and casinos in Malaysia, Singapore, Hong Kong, the Philippines and the UK and a 43 per cent stake in a Norwegian cruise line.
He shares his net worth of US$6.6 billion with his 82-year-old mother Puan Sri Lee Kim Hua and other family members.
This year's list of 50 richest in Malaysia includes nine new members.
Among the billionaires who made their debut was auto tycoon Datuk Tan Heng Chew and his family who ranked number 11 with a fortune of US$1.2 billion.
The family owns Tan Chong Motor Holdings, which assembles motor vehicles, manufactures parts and trades industrial equipment and consumer goods.
Datuk Seri Shahril Shamsuddin and Datuk Shahriman Shamsuddin, the brothers behind Sapura Group, also broke into the billionaire ranks after a US$3.7 billion merger of SapuraCrest and Kencana Petroleum (run by Datuk Mokhzani Mahathir, No 15, US$980 million).
The two brothers came in at number 12 with a fortune of US$1.05 billion, up from US$845 million last year.
Last year was a lucky one for gaming tycoon Tan Sri Chen Lip Keong, who founded Cambodian casino group NagaCorp and which has been raking in profits on gambling revenues.
NagaCorp owns a monopoly on casinos in Phnom Penh until 2035. He is also expanding into hotels, restaurants, retail and an entertainment complex set for completion in 2015.
This year, a minimum net worth of US$145 million was needed to qualify for the list, which was compiled using shareholding and financial information obtained from the families and individuals, stock exchanges, analysts, private databases, the Companies Commission of Malaysia and other sources.
Net worth figures are based on stock prices and exchange rates as of the close of markets on February 14 2013. Private companies are valued by using financial ratios and other comparisons with similar companies that are publicly-traded.
Several of the fortunes are shared among members of extended families and can't be attributed entirely to the person listed.
Bernama
