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Asian Entrepreneurship
1. Asian Entrepreneurship:
Malaysian 40 Richest
(until 06.05.06,according to Forbes)
By
Nur Suhaili Ramli
Auckland, New Zealand
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2. 1 Robert Kuok
$5.6 billion
83. Married. 8 children.
Got start in 1949 trading rice, sugar and wheat
flour. Today heads multinational Kuok Group.
His Pacific Carriers Ltd. is a leading dry-bulk
shipper in the Pacific basin; his Transmile
Group, which transports freight by air, has
landing rights in China and India. Also owns
10 Coca-Cola (nyse: KO - news - people )
bottling plants in China.
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3. 2 Ananda Krishnan
$4.6 billion
68. Divorced. 3 children.
Former oil trader's holdings include Maxis
Communications, Malaysia's largest cell phone
service provider; now entering Indian cell phone
market with acquisition of 74% stake in Aircel Ltd.
for $1.1 billion. His Tanjong Plc.'s subsidiary,
Powertek Berhad, paid $300 million for three
Egyptian subsidiaries of energy giant EDF in
March. Also controls racetrack betting and lottery
systems in Malaysia.
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4. 3 Teh Hong Piow
$2.1 billion
76. Married. 4 children.
Former bank clerk used profits from real
estate deal to open small bank 1966. Today
Public Bank second-largest lender in
Malaysia, with 12,800 employees and 251
branches. Public Bank's Islamic banking
products and services gaining popularity
among Malaysia's Muslims. Loves
photography; avid reader.
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5. 4 Lee Shin Cheng
$2.05 billion
67. Married. 6 children.
Started out as field supervisor in plantation
industry. Now heads IOI, with interests in
palm oil, property development and hotels.
Set up largest palm oil refinery in Europe,
which recently started production. Company's
stock up 70% in past year, driven by hype
surrounding biofuel (gasoline or diesel mixed
with palm oil to cut oil costs and pollution).
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6. 5 Quek Leng Chan
$2 billion
65. Married. 3 children.
Heads Hong Leong Group Malaysia, a
conglomerate of 14 listed companies traded
on various stock exchanges. Includes Asian
financial services giant Guoco Group. His
Hong Leong Bank has bid an estimated $460
million to buy Hong Kong's Asia Commercial
Bank (other-otc: CBDP.PK - news - people );
one of two finalists. His Hong Leong Group is
also in talks to sell its OYL Industries Bhd.,
which makes air conditioners.
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7. 6 Lim Goh Tong
$1.5 billion
88. Married. 6 children.
Former public works contractor turned his
idea for hilltop resort on outskirts of
Malaysia's capital city, Kuala Lumpur, into
one of world's most successful casino
resorts; his First World Hotel now has 5,675
rooms. Retired in late 2003, handed reins to
son Lim Kok Thay (ranked number 10). Wrote
autobiography titled My Story.
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8. 7 Yeoh Tiong Lay
$1.1 billion
76. Married. 7 children.
Patriarch (otcbb: PRRH.OB - news - people )
of Yeoh family heads YTL Corp., one of
Malaysia's largest conglomerates, with
interests in construction, utilities, hotels,
property development and technology. Son
Francis YTL's managing director. Company
hopes to benefit from $54 billion development
plan recently unveiled by the government.
Related Starhill REIT listed in December.
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9. 8 Tiong Hiew King
$1.05 billion
70. Married. 3 children.
His Rimbunan Hijau Group got its start in
1975 as a timber contractor. Operations now
span Malaysia, New Zealand and Africa.
Maintains that his logging operations benefit
local communities. In recent years his
publishing house, Ming Pao Enterprises, has
introduced local editions of Chinese-language
daily Ming Pao in cities like San Francisco,
New York, Vancouver and Toronto.
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10. 9 Syed Mokhtar AlBukhary
$1 billion
54. Married. 5 children.
Started out in "bowl of Malaysia" as rice
trader. Today controls Malaysia Mining
Corporation (MMC), which just announced
plans to up stake in power producer Malakoff
in proposed $2.6 billion deal. Also controls
container port Tanjung Pelepas and nearby
Senai Airport and has stakes in an automaker
and book retailer. Contributes to Islamic
schools, mosques and arts.
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11. 10 Lim Kok Thay
$440 million
54. Married.
Became chairman of Genting Group when his
father, Lim Goh Tong (number 6), retired in
late 2003. Has been key driver of its Star
Cruises, world's third-largest cruise line
(which he also runs), as well as its casino
projects outside Malaysia. Now trying to enter
Macau and Singapore gaming markets;
reportedly partnering with Universal in
Singapore bid to gain edge over U.S. rivals.
Listed Genting Group's international arm in
Singapore in December.
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12. 11 Azman Hashim
$405 million
66. Married. 5 children.
Forty-six-year veteran of banking industry.
Bought own bank in 1982 and eventually built
it into diversified AM Group. Bank's original
name, Arab-Malaysian, was dropped in 2002
in favor of more modern acronym. Chairs
Malaysian Investment Banking Association
and Malaysia-Japan Economic Association.
Reportedly enjoys golf and water sports.
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13. 12 Vincent Tan
$355 million
54. Married.
Acquired Berjaya (which means success in
Malay) in 1984, built it into conglomerate with
interests in financial services, hotels, theme
parks, lotteries, education, real estate and
manufacturing (makes heating pumps and
bicycles). Known in the company as TSVT (for
"Tan Sri Vincent Tan," "Tan Sri" being an
honorific title, like "Sir," in Malaysia).
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14. 13 Kua Sian Kooi
$285 million
54.
Majority owner and head of Kurnia Asia, one
of Malaysia's biggest insurance companies.
Started out as insurance salesman 1974,
eventually becoming underwriter. Bought
ailing insurance firm in 1991 and turned it
around, making Kurnia among most profitable
insurance outfits in the country in less than a
decade. Took company public last year.
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15. 14 Lim Wee Chai
$210 million
48. Married. 2 children.
Son of rubber plantation owners and traders,
he and wife started trading latex gloves in
1991 and opened first factory the next year.
Today his Top Glove is one of world's largest
producers of rubber gloves. Plays golf two
days a week as well as badminton.
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16. 15 Anthony Fernandes
$205 million
42. Married.
Spent 14 years as music industry executive,
lastly running all of Warner Music's
operations in Southeast Asia before quitting
to launch what is now Asia's biggest discount
airline, AirAsia. With slogan "Now everyone
can fly," AirAsia went public 2004; sports $1
billion market cap. To save money, half of all
bookings made through the Internet. Also
developed service to book tickets by mobile
phone and SMS. Starting to offer cheap car
rentals and a referral service to hostels.
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17. 16 Vinod Sekhar
$200 million
37. Married. 2 children.
Founder and majority owner of privately held
Petra Group. Among its many technologies,
one of the most promising is involved in
"green rubber," a revolutionary process to
cheaply and efficiently recycle used rubber.
Dad former head of country's government
rubber agency. Company's board members
include Christopher Forbes, vice chairman of
Forbes. Sekhar lover of Cuban cigars; has
collection of more than 100 Mickey Mouse
ties. Spends about third of time on charitable
activities.
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18. 17 G. Gnanalingam
$170 million
62. Married. 3 children.
Chairs Westports, the largest privately owned
port in Malaysia, which he started 1994. It is
also said to be the most profitable of the
country's ports. Hong Kong billionaire Li Ka-
shing's Hutchison Whampoa (other-otc:
HUWHY.PK - news - people ) bought a 30%
stake in 2000. Reportedly used prize money
won in crossword puzzle contest to pay for
college. Former tobacco industry executive
still heavy smoker.
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19. 18 Kamarudin Meranun
$165 million
45. Married.
Quiet bean counter helps more public partner
Fernandes (number 15) run AirAsia. With over
a decade's experience in financial services
and a business degree, Kamarudin is the
airline's executive director, looking after
corporate finance.
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20. 19 Chong Chook Yew
$145 million
84. Widowed. 4 children.
List's only female chairs Selangor Properties,
large publicly traded real estate firm. Studied
in New York at Columbia University and
graduated with an arts degree decades ago,
before joining Selangor's management team
1963. Became chairperson after the death of
her husband and Selangor founder, Wen Tien
Kuang.
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21. 20 Hamdan Mohamad
$140 million
50.
Runs Ranhill Group of companies, which
includes power and utilities firms. Started his
career as an engineer in Australia, where he
also earned his degree in civil engineering.
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22. 21 Jeffrey Cheah
$125 million
Started with a tin mining company in 1974.
Has built the Sunway Group of companies,
which develops properties, runs tolls and
manages quarries. Bulk of group is held
within three publicly listed companies, all with
"Sunway" as part of their names.
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23. 22 Mustapha Kamal Abu Bakar
$120 million
57.
He and partner Kasi K.L. Palaniappan (number
40) have come long way from modest start in
small two-room office 1983. Their MK Land
now one of country's largest property
development firms. The group, which focuses
on high-end properties and resorts, went
public 1999. Installed country's first wireless
network in a condo project.
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24. 22 Abdul Hamed Sepawi
$120 million
56.
Heads timber outfit Ta Ann. Founded 1989,
company has grown from small trading firm
into conglomerate with more than 3,000
employees. Company's fortunes boosted by
strong demand from China and India for
tropical woods. Also makes plywood, which
has been hit by high fuel prices. Listed related
firm Naim Cendera in 2003; nonexecutive
chairman of firm.
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25. 24 Ahmayuddin bin Ahmad
$115 million
50. Married. 4 children.
Board member, along with colleague G.
Gnanalingam (number 17) of Westports,
Malaysia's largest privately owned port.
Heads human resources and government
relations. Prior to Westports worked at
Malaysian Tobacco Company and Radio
Television Malaysia. Hobbies are reading and
traveling.
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26. 25 Syed Mohd Yusof Tun Syed Nasir
$110 million
59.
Former chairman of Southern Bank Berhad. In
one of the biggest corporate deals in Malaysia
this year, bank was bought out in May by rival
bank Bumiputra-Commerce Holdings, adding
to the coffers of the already wealthy Syed
Mohd Yusof when he cashed out his shares
and warrants. Syed Mohd Yusof remains
chairman of Killinghall, one of Southern
Bank's largest shareholders.
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27. 26 Shared by 3 Millionaires
26. Lee Hau Hian $100 million 53.
26 . Lee Oi Hian $100 million 55. Married. 4 children.
26. Lee Soon Hian $100 million 49.
Sons of late rubber baron Lee Loy Seng have
equal holdings in two listed companies: chemicals
company Batu Kawan and Kuala Lumpur Kepong,
former rubber company that expanded into other
commodities like palm oil and also owns retailer
Crabtree & Evelyn. Lee Oi Hian chairs both
companies; Lee Hau Hian is managing director of
Batu Kawan and board member at Kuala Lumpur
Kepong. Lee Soon Hian sits on the board of Batu
Kawan.
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28. 29 Tiah Thee Kian
$95 million
58. Married.
Runs TA Enterprise. Aside from sprawling
interests in financial services, which include
stockbroking, asset management and
derivatives, also has property arm that
operates in Malaysia, Australia, Canada and
South Africa. Tiah's wife, who has a degree in
economics, is company's chairman.
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29. 29 Tan Teong Hean
$95 million
63. Married. 3 children.
Chief executive director of Southern Bank
Berhad for 23 years until bank was bought out
in May. Cashed out his shares and warrants in
the deal. Remains chairman of MasterCard
International's Asia Pacific board and a
member of MasterCard International's global
board.
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30. 29 Lim Thian Kiat
$95 million
47.
Former head of Multi-Purpose Holdings, one
of Malaysia's biggest conglomerates.
Resigned 1999 after big losses at the group.
Still retains stakes in some of its public
entities.
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31. 32 Yaw Teck Seng
$90 million
68.
Head and founder of the Samling group,
considered second-largest timber group in
Malaysian province of Sarawak, after
billionaire Tiong Hiew King's (number 8). Has
two listed companies, Lingui Developments
and Glenealy Plantations.
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32. 33 Lim Tong Yong
$85 million
56.
Chief executive of the Pantai Group, the
largest chain of private hospitals in Malaysia.
Was bought out of group in September last
year by Parkway, Singapore's leading hospital
chain. Still retains small stake in Pantai; has
shares in listed soapmaker Paos.
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33. 34 John Chia
$80 million
57.
Only high-tech tycoon to make the cut, Chia
chairman of Unisem, a semiconductor testing
and packaging firm.
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34. 34 Rozali Ismail
$80 million
50.
Executive chairman of Puncak Niaga, a water-
treatment and engineering firm that treats the
water of Kuala Lumpur, among other places.
Varied career: started as lawyer, became
banker, then property developer.
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35. 36 Ong Leong Huat
$75 million
62.
Runs OSK group, which includes three
publicly listed groups: financial services firm
OSK Holdings, OSK Property and OSK
Ventures.
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36. 36 Lau Cho Kun
$75 million
Big shareholder in Malaysian Mosaics, maker
of tiles. Business also has interests in
property development, plantations and
trading.
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37. 38 William Cheng
$70 million
63.
Head of Lion Group of varied businesses
including steel manufacturing and retailing as
well as plantation management. President of
the Associated Chinese Chambers of
Commerce & Industry in Malaysia.
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38. 38 Shaari Ismail
$70 million
51.
Elder brother of Rozali (number 34) also a
shareholder in Puncak Niaga but has no
executive role.
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39. 40 Kasi K. L. Palaniappan
$65 million
48.
Trained as architect, Kasi is now second-
largest individual shareholder in MK Land
after Mustapha Kamal Abu Bakar (number 22).
Joined company's board 1999.
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