‘Sugar King’ is the richest

KUALA LUMPUR: Tan Sri Robert Kuok, the Kuok Group patriarch who relinquished his “Sugar King” crown last year, still tops the list of 40 richest people in Malaysia, followed by telecommunication tycoon Tan Sri Ananda Krishnan.

Collectively, the country’s 40 richest people recorded an increase in their fortunes totalling RM156.7bil as at Jan 15, or 63% more than the RM96.3bil a year ago, on the back of a recovery in the stock market, a Malaysian Business survey reveals.

However, according to the fortnightly magazine’s survey results released in a statement yesterday, their combined wealth was still less than the RM171.9bil recorded in 2008.

The benchmark FBM KLCI rose 44.3% since its last survey as the world strives to get back on its feet following the global financial crisis.

The full list of the 40 tycoons and details of their wealth are published in the magazine’s Feb 16 issue.

As in the previous year, the wealth of the Top 40 was assessed based on the value of their stakes in listed companies as at Jan 15 this year.

The survey also revealed that close to half on this year’s list recorded jumps of 50% or more. There are also more billionaires — 22, eight more than last year.

Media-shy and telecommunication tycoon Ananda Krishnan ranked second, clocking in at RM27bil.

IOI Corporation Bhd’s Tan Sri Lee Shin Chen was third with RM11.92bil, followed by prominent banker Tan Sri Teh Hong Piow at RM10.86bil.

Genting Group’s Tan Sri Lim Kok Thay, valued at RM10.38bil, leapt a full 10 spots to No. 5. This was because he assumed a large chunk of the wealth of his late father, Tan Sri Lim Goh Tong.

Hong Leong Group’s Tan Sri Quek Leng Chan took the sixth spot at RM7.09bil while Tan Sri Syed Mokhtar Albukhary of the Albukhary Foundation, valued at RM6.01bil, was seventh.

Others in the Top 10 ranking were Lim Goh Tong’s widow Puan Sri Lee Kim Hua, Tan Sri Tiong Hiew King of Rimbunan Hijau Group and Tan Sri Vincent Tan of Berjaya Group.

There were five newcomers in the list — Lee Swee Eng of the KNM Group, brothers Datuk Shahril Shamsuddin and Shahriman of Sapura, Datuk Seri Nazir Razak of CIMB Group and OSK Holdings’ Ong Leong Huat, who makes a comeback to the list after a one-year absence. — Bernama

Plantations up as CPO near 6-wk high

KUALA LUMPUR: PLANTATION []s were among the major gainers in morning trade on Wednesday, Feb 17 as crude palm oil (CPO) price advanced to its highest in six weeks, taking its cue from the rebound in light crude oil prices.

Key regional markets also rose, chalking up gains of between 1% and 2.5% after Wall Street's major indices recorded their biggest daily percentage gain in three months, signalling a return of risk appetite among investors.

At 12.30pm, the FBM KLCI rose 10.48 points or 0.84% to 1,263.87. Turnover was 262.06 million shares valued at RM405.11 million. There were 340 gainers, 147 losers and 179 stocks unchanged.

Japan's Nikkei 225 rallied 2.57% to 10,291.89, Hong Kong's Hang Seng Index added 1.77% to 20,627.72 while Singapore's Straits Times Index advanced 1.06% to 2,788.02.

CPO prices rose RM33 to RM2,613, the highest since early January while light crude oil added 26 cents to US$77.27 and US spot gold fell US$1.13 to US$1,118.32.

Among plantations, PPB rose 30 sen to RM16.30, KL Kepong 26 sen to RM16.64, IOI Corp 12 sen to RM5.34 while Sime Darby added 10 sen to RM8.50.

Other index-linked stocks which posted solid gains were Tanjong, up 30 sen to RM17.72, Hong Leong Bank 19 sen to RM8.20, Public Bank six sen to RM11.16 and AMMB five sen to RM4.95. Hong Leong Finance added 22 sen to RM7.75. Maybank rose two sen to RM6.92 with 6.15 million shares done.

Hai-O was the top performer, rising 33 sen to RM9.43, Supermax 25 sen to RM5.37.

MAS-OR was the most active, adding 0.5 sen to 14 sen with 22.3 million units done.

LPI fell the most, down 44 sen to RM12.82 with 200 shares done while KKB fell 30 sen to RM3.55 and Prfuren five sen to RM1.45.