PETALING JAYA: Following a two-year decline, tycoons on the 2021 Forbes Malaysia Rich List saw a 14% rebound to nearly US$90 billion (RM371.05 billion) on their collective wealth this year from US$79 billion registered in 2020.
This reversal of fortune is partly attributed to the country’s leading position in the medical glove manufacturing sector. With the pandemic year, global demand for such protective gear surged, Malaysian exports of rubber gloves doubled, boosting the wealth of the nation’s largest producers.
Listed among Malaysia’s 50 richest are five glove manufacturers, with two in the top 10.
This year, Robert Kuok retained his top spot on the list with a net worth of US$12.2 billion from interests in hotels, real estate and commodities.
Hong Leong group’s executive chairman, Tan Sri Quek Leng Chan kept his number two rank with a net worth of US$9.6 billion.
Tan Sri Koon Poh Keong and his four brothers took the third spot this year with a collective net worth of US$6.4 billion from their aluminum-extruding business, Press Metal Aluminium Holdings which they founded in 1986.
Tan Sri Ananda Krishnan came in fourth with a net worth of US$5.8 billion stemming from his operations across the telecommunication, media and the oil & gas sector.
Public Bank founder Tan Sri Teh Hong Piow takes the fifth place on the list with US$5.5 billion.
Further down the Forbes list, the demand for gloves has brought Hartalega Holdings’ founder Kuan Kam Hon to the seventh spot with a net worth of US$3.8 billion, followed closely by Top Glove founder Tan Sri Dr Lim Wee Chai at US$3.5 billion.
This year also saw the entry of Tan Yu Yeh and Tan Yu Wei with US$2.7 billion on the back of the listing of home improvement retail chain Mr DIY group in October last year.
The list also includes familiar names such as Berjaya Group founder Tan Sri Vincent Tan who takes the 24th spot with a net worth of US$915 million stemming from the conglomerate’s operations in various sectors, ranging from telecommunications, property development and gaming.
