27. DATUK LOH KIAN CHONG Flagship: Oriental Holdings Bhd Net worth: RM2.22bil

THE grandson of the late Tan

Sri Loh Boon Siew or “Mr

Honda”, Loh Kian Chong’s net worth shrunk by about 6% in

2018.

In 2017, his wealth stood at about RM2.35bil and was ranked 28th among the 40 richest Malaysians.

The marginal decline in his net worth was led by the drop in the share price of Oriental Holdings from RM6.55 in 2017 to RM6.17 last year, giving it a market capitalisation of RM3.83bil.

Kian Chong has 58% deemed interest in Oriental Holdings.

This is held via the family’s privately-owned companies – Boon Siew Sdn Bhd, Penang Yellow Bus Company Bhd, Bayview Hotel Sdn Bhd, Loh Boon Siew Holdings Sdn Bhd and Loh Kar Bee Holdings Sdn Bhd.

He joined the board of Oriental Holdings as executive director in May 2009 and was appointed as deputy chairman in November 2013.

He is now the executive chairman of the Penangbased conglomerate according to the company’s latest annual report.

The Oriental group, which started by selling cars, has also expanded into investment holdings and financial services, hotels and resorts, property development, automobile and related products, plastics, healthcare and others.

Oriental plans to operate its new fourth oil mill in Indonesia 2019, to be built at a cost of RM156.1mil

In June last year, it was reported that preparations were underway for the construction of the oil mill, the first in south Sumatra.

The group’s strategy for 2018 was to replant 239ha.

As for new planting activities in Indonesia, 9,350ha to date have been planted and it targets to plant 1,000ha to 2,000ha each year over the next two years.