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1. ROBERT Kuok Hock Nien, 83
Chairman,
Kuok Group and Kerry Group
RM32.40 billion
ROBERT KUOK'S MULTINATIONAL business empire keeps growing in value. He added some RM10.86 billion to his vast fortune and remains firmly entrenched as the wealthiest Malaysian businessman.
While Kuok continues to keep out of the limelight personally, his business interests in Malaysia, Kuok Brothers Sdn Bhd, led by nephew Chye Kuok, has been making headlines with its merger and acquisition activities to complement its organic growth approach.
The latest high profile corporate proposal involving the group has been Singapore-listed Wilmar International Ltd's offer to acquire Kuok's integrated edible oil and grains business in Singapore and Malaysia and merge it with the former's downstream interest in Indonesia.
The merger proposal puts a market value on Kuok's growing integrated edible oils and grains interests in Asia. Assuming the proposal is accepted by shareholders and regulators and the share price of the merged entity sustains, the `Sugar King's' wealth figure looks set to increase come this time next year.
As it stands, he is, and has been for some time, head and shoulders above the rest of the wealth club personalities. How much further afield will he be if the proposal is passed? By a few billion more?
To recap, Wilmar, led by Kuok's nephew Khoon Hong, has tabled an offer to buy Kuok Group's listed PPB Oil Palms Bhd, Kuok Oils & Grains Pte Ltd and PGEO Group Sdn Bhd for about RM9.27 billion in an all-share deal.
The Kuok Group will then have a 31% stake in the merged entity, which is expected to have market value of about RM25 billion. The group's acquired companies like Transmile Group Bhd, Hexagon Holdings Bhd and REDtone International Bhd are posting good profits and moving into new markets abroad, while flagship PPB Group Bhd has grown into a mammoth after the merger of FFM Bhd.
Kuok's insurance arm, Jerneh Asia Bhd, meanwhile is co-venturing into the Islamic insurance businesss in Malaysia.
Kuok overseas businesses under flagship Kerry Group continue to expand across the world, especially in booming China. The urbanising and industrialising economies of the region have provided Kuok's media empire under South China Morning Post (SCMP), hotels under Shangri-La, logistics and property under...