24. KONG CHONG SOON @ CHI SUIM AND KONG PAK LIM Flagship: UOA Development Bhd and United Overseas Australia Net worth: RM2.41bil

SELF-MADE property billionaires Chong Soon and Pak Lim co-founded United Overseas Australia Ltd (UOA) and UOA Development Bhd.

Despite UOA Development reporting lower profits in 2018, their net wealth gained 3% to RM2.41bil , making the pair tie for the 24th position among the richest in Malaysia from an earlier 30th position.

Chong Soon, 78, has more than 33 years of experience in the construction and property development industries, both in Malaysia and Singapore.

He is currently the managing director of UOA Development.

Pak Lim, 66, meanwhile has more than 38 years of experience in the construction, mining and property development industries in both Malaysia and Australia.

He is currently the executive director of UOA Development.

Chong Soon and Pak Lim co-founded UOA back in the 1980s, listing the company which focuses on property development, construction, property investment and property management, on the Australian Stock Exchange in 1987.

Two years later, the UOA group decided to shift its headquarters and operations to Kuala Lumpur.

It later listed UOA Development on the Main Market of Bursa Malaysia.

Chong Soon and Pak Lim own about an 84.6% stake in UOA through their private companies. UOA, in turn, owns 69.5% in UOA Development and a 76.6% stake in UOA REIT.