Wealth of Malaysian tycoons falls for second consecutive year
The wealth of Malaysia’s 50 richest on the 2020 Forbes Malaysia Rich List fell for a second straight year due to a weaker ringgit and a nearly 10% decline in the country’s benchmark stock index. Their collective net worth of US$79 billion (RM329 billion) is down 7% from a year ago, according to Forbes. Nonagenarian business legend Robert Kuok takes the top spot again with a net worth of US$11.5 billion, a position he has held for over two decades. Kuok is among four listees whose wealth shrank by more than US$1 billion in the past year. Retaining his spot on the list at second is Hong Leong group’s Tan Sri Quek Leng Chan, followed by Maxis’ Tan Sri Ananda Krishnan with a net worth of US$5.9 billion. In all, 22 listees suffered a decline in their net worth from a year ago, but an equal number were modestly better off. The minimum net worth to make the list this year is US$255 million, up from US$250 million last year. (The Sun Daily)
Sunway Property creates record with first online property customisation and purchase system
Sunway Property has launched the “First Property Customisation & Online Purchase System” in Malaysia for its integrated Sunway GRID project in Sunway Iskandar, Johor. Sunway Property said the Sunway Grid website allows buyers to customise, book and purchase their preferred “convertible homes” in Sunway GRID Residence. It said customisation options include the type (standard or loft), unit floor, view (river view or harbour view), unit, layout or number of rooms, and furnishings. The developer said all of these can be done with a few simple clicks and confirmation of reservation is done by paying RM500 only via a payment gateway. Meanwhile, Malaysia Book of Records CEO Christopher Wong said The Malaysia Book of Records look to acknowledge originality and creativity and records that can inspire others eager to surpass an achievement. “We believe that Sunway GRID has achieved this with its first e-commerce website that allows customisation online in Malaysia,” he said. (The Edge)
Latheefa Koya quits MACC
MACC chief Commissioner Latheefa Koya handed in her resignation letter to Prime Minister Muhyiddin Yassin on Monday. “It was my own decision to do so. Speculation that pressure was brought upon me are baseless,” she said in a statement. Latheefa said she intended to return to her practice as a human rights advocate. She added that she had met the Prime Minister and explained to him her decision to resign. Latheefa was appointed to the post on June 1 last year, with some seeing the appointment as a polticial one. She took over Datuk Seri Mohd Shukri Abdull who had decided to shorten his contract. Her post is expected to be filled by deputy chief commissioner of operations Datuk Seri Azam Baki. (The Star Online)
Warisan to become part of national Opposition, says Shafie
In one of the most awaited decisions of the current political turmoil, Datuk Seri Mohd Shafie Apdal says Parti Warisan Sabah is backing Tun Dr Mahathir Mohamad. The Warisan president announced that the party has decided to become part of the national Opposition, but will cooperate with the Federal Government for the sake of the people. Shafie said the decision to work with the Federal Government was to ensure Sabah was not behind in development, healthcare and security aspects. Shafie’s announcement puts an end to speculation of crossovers with the fall of the Pakatan Harapan government. Shafie said he had no plans to change the state Cabinet at the moment, adding: “Who knows there will be changes instead in the federal side.” On development and funding now that Sabah had become an Opposition state, Shafie said he was confident that the state’s development would continue. (The Star Online)
Avillion not selling resort, only land in PD
Avillion Bhd has not received an offer to acquire Avillion Port Dickson (PD), a five-star beach resort in Negeri Sembilan. According to sources, the group received an unsolicited offer from China-based Guangxi East Hangyang Investment Group which is to acquire six parcels of land in Port Dickson measuring a total of 20.3 hectares for RM382 million. Guangxi, established in the 1990s, has an interest in high-end property development, hotels, food and beverage, tourism and entertainment. It has been looking to expand outside of China and is eyeing development land in Malaysia. It narrowed down on Port Dickson as it believes the area has the potential for tourism development. (NST Online)
