A threefold jump in the market cap of Penang-based engineering services firm UWC to $1.6 billion in the past year has put cofounders Ng Chai Eng and Lau Chee Kheong on the list for the first time.
The country’s wealthiest people were well ahead of the economic recovery curve. After two years of decline, in 2019 and 2020, their combined wealth rose 14% to nearly $90 billion.
PETALING JAYA: UWC Bhd has been commissioned by its key client, customer B to develop and manufacture the world’s highest frequency 5G over-the-air ch.
Mi Equipment Holdings Bhd group CEO & executive director Oh Kuang Eng.
THE Top 40 Richest in Malaysia list for 2020 saw the entries of new tech billionaires from five companies, as they became beneficiaries of the China-United States trade tensions as well as a Covid-19 pandemic-induced electronic equipment demand surge, as lockdowns forced people to work from home.
Net worth is computed based on the closing share price of the companies as at Dec 31,2020.
It is worth noting that Penang is the base for four of the five new tech companies on the list, with the exception of Melaka-based D&O Green Technologies Bhd