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
Malaysia’s super-rich, hard hit by the market following the outbreak of Covid-19, saw billions being wiped out of their fortunes. On the other hand, entrepreneurs involved in the making of rubber gloves minted more money, while new billionaires emerged from the tech manufacturing sector as shares of their companies soared in 2020.
THE outbreak of the Covid-19 pandemic in 2020 has delivered a brutal hand to the country’s economy, bringing unprecedented challenges to the general public and corporate sector.
And if this may offer some consolation amid the plunging values of your retirement and savings accounts, some of Malaysia’s wealthiest individuals have lost lots of money too, a survey on Malaysia’s 40 Richest individuals for 2020 showed.
KUALA LUMPUR (Feb 17): The main index of Bursa Malaysia pared some of its loss before the midday break today, but remained below the 1,600-point level in line with cautious regional markets.
At 12.30pm, the FBM KLCI was down 8.10 points at 1,598.04. The index earlier dropped to a low of 1,596.45.
Broader market sentiment remained cautious with 416 losers and 367 gainers, while 712 counters traded unchanged. Trading volume was 5.99 billion shares valued at RM2.79 billion.
The top losers included Malaysian Pacific Industries Bhd, Pentamaster Corp Bhd, AEON Credit Service (M) Bhd, Kuala Lumpur Kepong Bhd (KLK), Mega First Corp Bhd, Telekom Malaysia Bhd (TM), Inari Amertron Bhd, Unisem (M) Bhd and Axiata Group Bhd.
RHB Retail Research said Mega First Corp Bhd’s latest price action suggests its multi-session narrow sideways consolidation which set in following the previous sharp upward move has likely reached an end.
KUALA LUMPUR (Feb 10): The main index at Bursa Malaysia pared some of its gains at mid-morning today as investors turned cautious amid muted trading at regional markets.
Local investors are also awaiting the fourth quarter 2020 gross domestic product (GDP) data to be released by Bank Negara Malaysia on Feb 11.
At 10am, the FBM KLCI was up 1.3 points at 1,587.43. The index had earlier risen to a high of 1,592.27.
Losers overtook gainers by 503 to 317, while 398 counters traded unchanged. Trading volume was 1.41 billion shares valued at RM853.51 million.
The gainers included Widetech (M) Bhd, PPB Group Bhd, Malaysia Airports Holdings Bhd, RCE Capital Bhd and Ann Joo Resources Bhd.