M’sian tycoons on Forbes see fortunes bounce back 03 Jun 2021 / 23:45 H. Top 5 richest in Malaysia: (from left) Robert Kuok, Tan Sri Quek Leng Chan, Tan Sri Koon Poh Keong, Tan Sri Ananda Krishnan and Tan Sri Teh Hong Piow.
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.
The country’s wealthiest people were well ahead of the economic recovery curve. After two years of decline, in 2019 and 2020, their combined wealth rose 14% to nearly $90 billion.
Ex-Hong Leong Bank Bhd chief executive officer Datuk Yvonne Chia has been appointed independent non-executive director at Press Metal Aluminium Holdings Bhd.
(BPHB) group is gearing up for a major boost in cargo-handling volume when an integrated phosphate plant nearby is operational.
The deepsea port, which was designed and built to cater for the energy-intensive industries in the adjacent Samalaju Industrial Park, Bintulu, will also benefit from the commissioning of Press Metal Aluminium Holdings Bhd’s new Phase 3 aluminium smelting plant and the soon-to-be constructed mega-steel plant.
According to BPHB group chief executive officer Datuk Mohammad Medan Abdullah, SIP is expected to handle one million tonnes of new cargo from Malaysian Phosphate Additives (Sarawak) Sdn Bhd (MPAS).
“This will bring in an additional revenue of about RM23mil (annually), ” he said in the company’s newly released 2020 annual report.
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