I was wondering why Forbes or Fortune never listed this wealth of this individual, but based on the evidence, the richest man in Malaysia may indeed be a Malay instead of a Chinese. At one stage this ex-Minister was reported to have said he had at least RM65 billion visible in the Bursa Malaysia.
(LSS) – While most people get upset if an ex-politician or finance minister is exposed as having a secret account in a Swiss bank, it appears one of them had actually OWNED a Swiss Bank – PLUS FOURTEEN (14) other banks around the world.
The ICB Financial Group Holdings AG, operates approximately 222 branches and 130 ATMs worldwide. The company is based in Schindellegi, Switzerland (http://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapid=20725049).
ICB started its operations in 1994 when it secured a licence to operate a bank in Hungary, after which the group expanded to own and operate banks in 13 countries on three continents.
Under the group, it either holds majority share or 100% share in 14 other banks in Asia (including Bank Thai PLC in Thailand, BII in Indonesia and Malaysia (rumoured to be Alliance Bank), Europe and Africa too. )
At one stage this ex-Minister was reported to have said he had at least RM65 billion visible in the Bursa Malaysia.
Incredibly, for a Swiss-based finance groups, the CEO is a local Malaysian Chinese with a few other Malaysians on the board, too.
I was wondering why Forbes or Fortune never listed this wealth of this individual, but based on the evidence, the richest man in Malaysia may indeed be a Malay instead of a Chinese.
Apparently, this “hidden” richest man owns 75% of this Swiss-based group:
However, when this banking group was listed in London Stock Exchange (since taken private in 2013) , the shareholding only shows 61% direct ownership only.http://en.wikipedia.org/wiki/ICB_Banking_Group
Very proud to see that the NEP was a success and that Malaysia Boleh – including owning Swiss Banks.
However, I wish our Malaysian tycoons would bring their money back from overseas and invest more of it into the growth of Malaysia instead.
After all, this is still your country. Not Switzerland.