GGRAsia – Casino bosses Chen, Lim slide down ranking of Malaysia’s 50 richest


Casino bosses Chen, Lim slide down ranking of Malaysia’s 50 richest

Two casino entrepreneurs have slipped into the top 20 of Forbes’ list of the “50 richest in Malaysia 2021”, amid the Covid-19 pandemic.

Ranked ninth – down from four in 2020 – with now an estimated net worth of $ 3.4 billion is Chen Lip Keong (pictured, left), managing director of Hong Kong-listed NagaCorp Ltd, which holds the monopoly casinos in the Cambodian capital. Phnom Penh, and is also developing a venue in Vladivostok, Russia.

Mr. Chen’s net worth in 2021 is down 35.8% from the estimated $ 5.3 billion he held last year.

At number 11 this year, down from seven, and with an estimated net worth this year of US $ 2.55 billion, is Lim Kok Thay, chairman of the Genting Bhd conglomerate.

Mr. Lim’s net worth in 2021 is down 20.3% from the estimated $ 3.2 billion he had last year.

Through a network of associated companies, the Genting brand operates casino activities around the world, including Malaysia, Singapore, United Kingdom, United States, Bahamas and Egypt, as well as on cruise ships. -casino. The group is also applying for a casino license in Yokohoma, Japan.

Both men have seen their fortunes shaken this year by the Covid-19 pandemic, which has seen the temporary shutdown of their respective casino operations in Asia-Pacific, and in Genting’s case, beyond the region.

NagaCorp’s NagaWorld complex in Cambodia has been closed since at the end of the first trimester, amid the cases of Covid-19 in Phnom Penh.

The Casino at Resorts World Genting, the flagship resort of Genting Malaysia Ltd near Kuala Lumpur, Malaysia, was temporarily closed from May 24 due to a so-called movement control order imposed by the country’s government to combat the spread of Covid-19.

the the whole complex was temporarily closed from Monday (May 31).

Overall, entrepreneurs on the Forbes Malaysia Rich List 2021 have seen their collective wealth rebound, as it rose 14% to nearly $ 90 billion this year, after declining for two years, a. said the media.

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