9. Syed Mokhtar AlBukhary
This man born in Alor Setar, Kedah is the richest Bumiputra figure in the country, with a net worth of $1.8 billion. His involvement in diversified business areas include transportation and logistics, plantations, property development, defense and armory as well as engineering and power generation.
The tycoon’s flagship is MMC Corp, a company his private vehicle Impian Teladan Sdn Bhd acquired 19.9% of in 2000, forking out RM499.18 million or RM3 per MMC share.
10. Surin Upatkoon
Although born in Thailand, Surin has lived in Malaysia since 1965, when he arrived in Penang for school and stayed to work. With a net worth of $1.15 billion, more than 60% of his wealth comes from the 10% stake in Thai telecom InTouch he sold in 2013.
He also has interests in gambling company Magnum and his biggest break came about in the acquisition of a major stake in Multi-Purpose Holdings Bhd., which he later split into MPHB Capital, an insurance and real estate outfit.
The Forbes list was compiled using shareholding and financial information obtained from the families and individuals, stock exchanges, analysts, private data bases, the Companies Commission of Malaysia and other sources. Net worth figures are based on stock prices and exchange rates. Private companies are valued by using financial ratios and other comparisons with similar companies that are publicly traded.
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