KUALA LUMPUR: Forbes' 2018 Malaysia Rich List showed the wealth of tycoons soar over the last year with 34 listees seeing an increase in their fortunes and six seeing a decline. Forbes attributes the overall increase in wealth to a 6.6% rise in the Kuala Lumpur Composite Index over the past year and a 13.1% appreciation in the ringgit's value against the dollar. Robert Kuok remains Malaysia's richest man with a net worth of US$14.8bil. Quek Leng Chan comes in at second place with US$7.2bil, followed closely by Ananda Krishnan with US$7.1bil. Forbes also noted that brothers Koon Poh Keong and Poh Ming at No 8 with a combined wealth of US$3bil are the year's biggest percentage gainers with a 186% jump from US$1.05bil in the previous year.

Source: The Star March 08, 2018 02:37 UTC