OFFICIAL FORBES LIST: Top 10 Billionaires in Malaysia as at June 2019

6. Chen Lip Keong, USD$5bil (RM20.5bil)

Chen Lip Keong’s NagaWorld holds a casino license in Cambodian capital Phnom Penh running to 2065, with a guaranteed monopoly to 2035.

NagaWorld is the largest casino resort in Indochina. Naga2 opened across the street in November 2017, connected by underground mall NagaCity Walk. NagaCorp is the first casino company listed on the Hong Kong stock exchange and the first doing business principally in Cambodia.

Frustrated by the interest rates banks demanded to finance Naga2, Chen put up his own $369 million and took payment in company shares. NagaCorp is also developing a casino resort in Vladivostok in Russia’s far east.

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