SINGAPORE: The list of Malaysia’s billionaires has grown to 18 following the inclusion of four newcomers comprising Tan Sri Surin Upatkoon, Datuk Mokhzani Mahathir, Tan Sri Danny Tan and Goh Peng Ooi.

Forbes Asia, in its latest issue, said Surin had a 61% jump in his net worth to US$1.3 billion (RM4.25 billion) after he  sold nearly a 10% stake in a Thai telecoms company, InTouch, last year. He is ranked 13th in the list of 50 richest Malaysians.

Mokhzani, No 15 in the list with a net worth of US$1.2 billion, received a 22% lift from his stocks in oil and gas company, SapuraKencana Petroleum Bhd.

Danny Tan, brother of tycoon Tan Sri Vincent Tan, is 16th on Malaysia’s rich list with a net worth of US$1.15 billion. Forbes Asia said he had a 121% “jolt” as the sale of his landbank took off.

“He is now close to a US$1.5 billion deal to turn over 13 parcels of land to Singapore-listed Albedo in return for 95% ownership in the steel trader,” the publication said.

Goh Peng Ooi, who founded Silverlake Axis in 1989, cracked the billionaire ranks on soaring prices of his software company which increased his net worth by 49% to US$1.1 billion. He is ranked 17th on the list.

Sugar king Tan Sri Robert Kuok remains Malaysia’s richest man for the ninth consecutive time with a net worth of US$11.5 billion despite losing US$1 billion in net worth since a year ago. The 90-year-old has built a business empire that includes palm oil, shipping, media, hotels and real estate.

The second richest person on Forbes Asia’s list this year is Ananda Krishnan, 75, who retains his spot with a net worth of US$11.3 billion, down from US$11.7 billion previously. His vast business interests include telecoms giant Maxis, pay TV and power generation.

Casino magnate Tan Sri Lim Kok Thay, who runs the Genting group, is the third richest with US$6.5 billion. Forbes said Lim’s Genting group is pouring US$4 billion into an unfinished project it took over in Las Vegas and plans to open next year.

Rounding off the top 10 list are seasoned banker and property mogul Tan Sri Quek Leng Chan (No 4, US$6.4 billion); Public Bank founder and chairman Tan Sri Teh Hong Piow (No 5, US$5.6 billion); IOI Group Bhd’s Tan Sri Lee Shin Cheng (No 6, US$4.3 billion); Tan Sri Syed Mokhtar Albukhary (No 7, US$3.1 billion); YTL patriarch Tan Sri Yeoh Tiong Lay (No 8, US$2.7 billion); timber tycoon Tan Sri Tiong Hiew King (No 9, US$1.8 billion) and Berjaya Group founder Tan Sri Vincent Tan (No 10, US$1.6 billion).

Forbes Asia said 13 new faces have been added to the 50 richest Malaysians in the latest list. They include Kuan Kam Hon of Hartalega Holdings Bhd (No 22, US$880 million); Dr Ngau Boon Keat of Dialog Group Bhd (No 30, US$590 million); and Tan Sri Leong Hoy Kum of Mah Sing Group Bhd (No 39, US$340 million).

Forbes Asia said the minimum net worth to enter the list of Malaysia’s 50 richest is US$220 million, up from US$145 million last year.

This article first appeared in The Edge Financial Daily, on February 28, 2014.