by winston » Sun Feb 05, 2017 9:47 pm
TAN SRI AZMAN HASHIM
Flagship: Amcorp Group
Net worth: RM2.4bil
AZMAN, who turns 78 in July, has planned his retirement with his departure from a number of boards within his group over time.
There is a succession plan and two of his children have replaced him in two companies that he owns: Amcorp Properties Bhd and RCE Capital Bhd.
Synonymous with the Arab Malaysian Group, Azman is a chartered accountant-turned-banker. He found himself in a fortuitous position in 1982 when he bought a 40% stake in Taiping Textiles, which later became Arab-Malaysian Development Bhd.
In that same year, Azman bought Arab-Malaysian Development Bank, which later was transformed into Arab Malaysian Merchant Bank Bhd or AMMB.
Azman holds the entire stake in Amcorp group, which is into financial services, property and engineering, information technology, consumer goods and services.
The Amcorp group has a 69.3% stake in Amcorp Properties and Amcorp Properties-PA controls MCM Technologies (information technology business), Harpers Travel, Restoran Seri Melayu and 90% in Amcorp Auto.
In the financial services sector, Azman is the second-largest shareholder with an effective 12.7% stake in AMMB, which controls AmBank, AmInvestment Bank, AmIslamic Bank, AmSecurities and AMMB Nominees.
Azman, via Amcorp group, has a 59.7% stake in RCE Capital and a 6.1% stake in Am First Reits, while AMMB has 26.7% in the same company.
Last year, he disposed of his 25.89% stake in ECM Libra for RM27.45mil held via Amcorp group, Hikkaya Jaya Sdn Bhd, Arab-Malaysian (CSL) Sdn Bhd and Equity Vision Sdn Bhd.
It was said that he was building up his coffers to prepare to take up a portion of the 23.8% block held by Australia and New Zealand Banking Group Ltd’s (ANZ) stake in AMMB Holdings Bhd or the AmBank Group.
He has not denied his interest in the block held by ANZ.
As one of the wealthiest persons around, he saw a drop by one notch in the ranking of Malaysia’s richest to the 22nd spot from 21st in 2015. His net worth was RM2.522bil, down marginally 4.6% to RM2.405bil.
This was derived from the value of his stocks in the various companies as at end-2016.
His 69.2% in Amcorp Properties was valued at RM329.3mil or 78.5 sen a share, his 82.6% in Amcorp Properties-PA was worth RM75.1mil, 12.97% stake in AmBank was valued at RM1.68bil or RM4.31 per share, 6.09% stake in Amfirst Reits was at RM32.3mil or 77 sen a share, and finally, his 59.7% in RCE was worth RM282mil or RM1.36 a share.
Source: The Star
It's all about "how much you made when you were right" & "how little you lost when you were wrong"