KUALA LUMPUR: Tycoons on the 2021 Forbes Malaysia Rich List have seen a rebound in their collective wealth as it rises 14 per cent to nearly US$90 billion this year, after declining for two years.
KUALA LUMPUR: Malaysia's richest tycoons defied pandemic headwinds to record an increase in their collective wealth in 2021, contributed in part by the financial windfall experienced by Malaysian rubber glove manufacturers.
As predicted by analysts, Mr DIY Group (M) Bhd will be included in the benchmark FBM KLCI index while Supermax Corp Bhd has been excluded following the semi-annual review of the index constituents.
THE Covid-19 pandemic has caused many companies to be in financial distress, forcing some to temporarily shut down factories and operations for at least two months from mid-March in 2020 and experiencing lower demand after that.
With numerous firms seeing a decline in earnings, and many falling into the red, one wonders how much Malaysia’s top brass were paid in 2020 versus the year before.
According to data compiled by The Edge, among the top 50 companies by market capitalisation, the heads of 15 firms took a pay cut, 13 saw a bump in their paycheques and only two those of Supermax Corp Bhd and Time dotcom Bhd had no change in pay.
KUALA LUMPUR (May 25): Mr DIY Group (M) Bhd will likely be included in the FBM KLCI index, replacing Supermax Corp Bhd, which has the lowest market capitalisation among KLCI component stocks, said analysts today.
In a note, CGS-CIMB’s analysts Ng Lee Fang and Nagulan Ravi said according to their assessment of market data as at end of yesterday, Mr DIY has risen to the 20th position in terms of market cap ranking, satisfying the rules for inclusion into the KLCI index.
“As such, our analysis suggests that it will be included in the upcoming KLCI review, replacing Supermax, the lowest-ranking market cap stock among the current 30 KLCI constituents as at the end of May 24,” they said.