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KUALA LUMPUR - The combined wealth of Malaysia's 40 richest individuals declined this year as the global credit crisis and weak equity markets took a toll on them.
Malaysia's 40 richest were collectively worth RM193.2 billion (S$80.1 billion) as at Jan 20, 2012, a decrease of 7 per cent compared to RM206.37 billion a year ago, said Malaysian Business in its Feb 16 issue.
The local stock market remained lacklustre on the back of worries that the US economy may be heading for a double-dip recession and China for a hard landing as a result of the euro debt crisis, Malaysian Business said in a news release yesterday.
On the bright side, there were 30 billionaires this year - three more than last year.
Malaysia's 10 richest
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The three newcomers are Datuk A.K. Nathan of Eversendai Corporation Bhd and Ngau Boon Keat of Dialog Group Bhd, who both made it into the list for the first time, while Datuk Abdul Hamed Sepawi of Ta Ann Holdings Bhd returned after a lapse of four years.
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