2. TAN SRI LIM KOK THAY

Flagship: Genting Group Group net worth: RM23.8bil

TAN SRI Lim Kok Thay has turned the Genting Group from a one-hill casino wonder to an international gaming and entertainment company. The 65-year-old tycoon inherited the business empire built by his father and took it beyond the local shores in a far bigger way than the group had ever done.

The Malaysian operations are still the foundation of a group that now has diversified from being just a leisure and hospitality company. Plantations, property development and even biotechnology are areas that matter to the group that is ranked among the world’s biggest hospitality companies.

With Genting Highlands still a linchpin for the group and the foundation of its global success, the Genting Integrated Tourism Plan, handled through subsidiary Genting Malaysia Bhd, has developed and launched new tourism facilities that will be a source of long-term growth for the group.

Work on a 20th Century Fox theme park is well underway and that will seal Genting Malaysia’s appeal as a huge tourism site, and last year, the group announced the development of its Resorts World New York City. The US$400mil expansion at the Aqueduct Racetrack in Queens, New York, is set to become the Genting Group’s long-run growth engine.

Genting Singapore’s share price was up about 45% last year and Genting Bhd’s stock was higher by about 15%.

His wealth grew by 7.2% last year to RM23.8bil from RM22.2bil in 2016 and the most significant development for him was asserting control over the Genting Group by declaring that he is a major shareholder of the group with direct and indirect stakes totalling 44.38%.

His announcement in November came after a report inferred that Lim may not be a substantial shareholder of the diversified group.