Kong Chong Soon @ Chi Suim and Kong Pak Lim
UOA Development Bhd and United Overseas Australia
Net worth: RM2.124bil
SELF-MADE property billionaires Kong Chong Soon and Kong Pak Lim - the co founders of United Overseas Australia Ltd (UOA) and UOA Development Bhd jumped to 26th spot in 2016 from 30th spot a year earlier.
Their net worth swelled by 38.4% to RM2.124bil last year from RM1.535bil previously.
Both Chong Soon, 75 and Pak Lim, 63 have successfully steered the UOA group into a reputable property developer developing residential and commercial properties as well as hotels, restaurants and recreational outlets.
UOA was founded and listed on the Australian Stock Exchange in 1987; fully focusing on property development, construction, property investment, and property management.
But in 1989, UOA Group has decided to base its headquaters and business operations in Kuala Lumpur. The group later went on to list UOA Development Bhd on the main market of Bursa Malaysia in 2011.
To date UOA Development is one of the largest listed property and construction companies in Malaysia with a market capitalisation of RM3.98bil.
The UOA group is also seen strategically investing in good investment grade commercial and residential assets in prime, high return growth areas under UOA Real Estate Investment Trust which is listed on Bursa Malaysia.
As at Dec 31, 2015 the UOA Group has completed and delivered projects comprising commercial, retail and residential properties estimated at RM7bil in gross development value (GDV).
Source: The Star