33. DATUK LEONG KOK WAH
Flagship: Eco World Development Group Bhd, Eco World International Bhd and Salcon Bhd Net worth: RM1.63bil LEONG saw his net worth rise in 2017 compared to the previous year, but slipped a notch in the rankings of the Top 40. Of his major holdings, only Eco World Development shares finished the year higher.
Eco World International, which made its Bursa Malaysia debut on March 31 last year, initially performed well but its share price fell by 14.17% by year-end. Similarly, Salcon’s share price dropped 15.56% last year.
Eco World International is an Eco World Development associate that specialises in property projects outside Malaysia, while Salcon specialises in water infrastructure. Through several private vehicles, Leong, who has stockbroking and fund management background, holds substantial stakes in Eco World Development and Eco World International.
He sits on the boards of Eco World and Salcon. Leong is also a long-time associate of Tan Sri Liew Kee Sin, the prime mover behind Eco World Development and Eco World International.
Notably, Eco World International has been making a name for itself when the company teamed up last December with Be Living Holdings Ltd, the development arm of British construction firm Willmott Dixon Holdings Ltd. Eco World International inked an agreement to buy a 70% stake in a development management company that will spearhead the development of 12 sites in greater London and the south-east of England with an estimated gross development value (GDV) of at least £2.6bil (RM14bil).
Eco World International also announced last November that the company would redevelop a site in Sydney into 125 apartments and a small retail component with a GDV of A$139mil (RM435.35mil). The company has five current projects – three in Britain and two in Australia.
Meanwhile, Salcon last year secured three contracts from Pengurusan Air Selangor Sdn Bhd and is bidding for some RM2bil worth of water infrastructure contracts in Malaysia, Vietnam, Sri Lanka and Myanmar. The company also sold an 80% stake in an Australian subsidiary that owned a parcel of land in Melbourne to Eco World International last April.