10. TAN SRI DR CHEN LIP KEONG

Flagship: NagaCorp Net worth: RM9.31bil A MEDICAL doctor by training, Chen made his fortune through the gaming and tourism business.

Last year, the 71-year-old saw his net worth more than triple to RM9.309bil from RM2.8bil in 2016, catapulting him to the 10th spot on Malaysia’s top-40 richest list in 2017 from the 17th spot in the preceding year.

Chen’s flagship company is NagaCorp Ltd, in which he owns a 65.4% stake. The tycoon also controls Karambunai Corp Bhd, in which he has a 73.4% stake.

Chen also has a 29.7% stake in FACB Industries Incorporated Bhd and an 82.9% stake in Petaling Tin Bhd.

NagaCorp is the largest hotel, gaming and leisure operator in Cambodia. NagaCorp became the first company with operations in Cambodia to become a public-listed company in Hong Kong, as well as the first gaming-related company traded.

The company had a market capitalisation of HK$26.26bil as at end2017.

NagaCorp-owned NagaWorld is the only casino-hotel entertainment complex in Phnom Penh and enjoys a 70-year concession on its licence that runs until 2065. The 41-year monopoly of its licence will also see it having a casino monopoly within 200km of Phnom Penh until 2025.

Karambunai, on the other hand, is involved in the tourism industry in Sabah and property development in Malaysia. The group, which owns 1,300 acres near Putrajaya and the KL International Airport, had a market capitalisation of RM347mil as at end-2017.

Chen’s two other listed companies – FACB and Petaling Tin – had smaller market capitalisations of RM126mil and RM130mil, respectively, as at end-2017.

FACB is a manufacturer of mattresses and steel fittings, while Petaling Tin is involved in property development.