Robert Kuok, the Hong Kong-based Malaysian tycoon is still the richest man in Malaysia, with a wealth of RM54.48 billion from last year s RM46.1 billion, followed by businessman T. Ananda Krishnan and Public Bank's Tan Sri Teh Hong Piow.

Ananda, has been maintaining his second position since 2004, and his assets, held via Usaha Tegas Sdn Bhd, are worth RM33.19 billion, an increase of 0.88 per cent from last year's RM32.90 billion.

Teh, kept his place for the third year running, with assets worth RM18.07 billion, Malaysian Business, the country's premier business magazine, said in its February 16th issue.

It said the combined wealth of Malaysia's 40 richest individuals rose to RM217.82 billion as at January 18, 2014 or 11.73 per cent from RM194.86 billion a year ago.

When Malaysian Business first started counting the wealth of Malaysia s 40 richest individuals in 2002, their combined assets stood at RM41.7 billion and Robert Kuok Hock Nien came out tops.

The magazine said fourth on the list is Tan Sri Quek Leng Chan whose wealth, through his flagship Hong Leong Group and Guoco Group, is valued at RM14.11 billion this year.

At the 5th spot is Tan Sri Lee Shin Cheng of IOI Group who jumped from sixth position last year, overtaking Tan Sri Syed Mokhtar Albukhary who fell to sixth.

Lee's wealth this year is RM13.12 billion, up from RM10.56 billion a year ago.

Syed Mokhtar has to contend with the sixth spot despite his wealth growing by 4.43 per cent to RM11.07 billion from RM10.6 billion last year.

Genting Group chief Tan Sri Lim Kok Thay and his mother, Puan Sri Lee Kim Hua, retained their seventh and eighth positions, respectively.

Lim's wealth rose 16.18 per cent to RM9.43 billion while Lee's increased by 3.2 per cent to RM7.47 billion.

Datuk Mokhzani Mahathir, through his vehicle, SapuraKenchana Petroleum, is in ninth place, with assets worth RM4.22 billion.

Rounding up the Top 10 list is prominent banker Tan Sri Azman Hashim, via Arab-Malaysian Corporation, with assets worth RM4.11 billion this year.

Malaysian Business said one interesting fact was that since 2002, 81 tycoons have joined the 40 Richest Malaysians' list and 15 have managed to remain on on the continuously.

Overall, the steady increase of their wealth can be attributed to share market performance and price inflation, given that their wealth is largely based on their shareholdings.

It is also reflective of the performance of their companies and Malaysia's positive economic growth over the past 12 years.

As for this year there are 33 billionaires, two more than last year, and 29 of the 40 in the list see their assets increasing from last year.

Out of that, 20 registered growth of more than 10 per cent.

There were two returnees to this year's list. Datuk Tony Tiah of TA Enterprise is at number 38th, with assets worth RM589.14 million, while Tan Sri Rozali Ismail of Puncak Niaga Holdings rounded up the Top 40, with RM543.74 million.

As in previous years, the wealth of the Top 40 was assessed based on the value of their stakes in listed companies as at Jan 18, 2014.

Malaysian Business, the country's premier business magazine, is published by Berita Publishing Sdn Bhd.-- Bernama