Forbes billionaires list this year.
Also new on the list is Greatech Technology Bhd co-founder and chief executive officer (CEO) Tan Eng Kee, with
Forbes estimating his wealth to be US$1.1 billion (about RM4.54 billion). The Penang-based company is a maker of factory automation equipment.
In
Forbes estimated Gnanalingam’s net worth to be about US$1.7 billion.
It also estimated MR DIY’s Yu Yeh’s net worth to be about US$1.8 billion and Yu Weh at about US$1.1 billion.
Forbes noted that the brothers’ wealth comes from their respective stakes in the home improvement retail chain.
MR DIY, listed in October last year, has had the largest initial public offering (IPO) on Bursa Malaysia since 2017, with a market capitalisation of RM10 billion, raising approximately RM1.5 billion from both institutional and retail investors.
MSM share price surge and FGV privatisation intrigues
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