Robert Kuok Remains The Richest Man In Malaysia
Robert Kuok occupies the top spot of the Forbes Malaysia Rich List for the 11th year in a row with a net worth of US$10 billion (RM42 billion).
The 92-year-old founder of the Kuok Group remains Malaysia’s richest man despite the pummelling fortunes of some of the nation’s wealthiest over the past year.
Malaysia’s rich list saw the number of billionaires decline from 16 last year to 12 this year, according to the Forbes Malaysia Rich List.
The slowdown in China, plunging oil prices, an unending political showdown in the capital has continued to hurt businesses.
The result is that the cut-off for making the top 50 this year was US$195 million (RM822 million) – the lowest since 2014. In 2015, it was US$240 million (RM1 billion).