The Straits Times / The Business Times News on Hyflux

Olivia Lum gets on Forbes Asia rich list

She has net worth of US$240m

HAILED as Singapore's 'Water Queen', Hyflux's Olivia Lum has become the first woman to make it to Forbes Asia magazine's South-east Asia Rich List with a net worth of US$240 million.

Forbes Asia's latest issue, which hits the stands today, features the 45-year-old founder and chief executive of water-treatment company Hyflux as its cover story.

Water Queen: Hyflux CEO Olivia Lum is the first woman to make it to the list

This is the second annual listing of the richest in South-east Asia by Forbes Asia. The 40 richest individuals listed this year have a total net wealth of more than US$62 billion, up US$15 billion from last year.

The top 10 on the list are Malaysia's Robert Kuok who has a net worth of US$5.3 billion and Ananda Krishnan (US$5 billion); Singapore's Kwek Leng Beng (US$4 billion) and Ng Teng Fong (US$3.2 billion); Thailand's Charoen Sirivadhanabhakdi (US$3 billion); Singapore's Lee Seng Wee (US$2.7 billion); Malaysia's Lim Goh Tong (US$2.6 billion) and Quek Leng Chan (US$2.4 billion); Singapore's Wee Cho Yaw (US$2.4 billion); and Indonesia's R Budi Hartono (US$2.3 billion).

Besides Ms Lum and Charoen Sirivadhanabhakdi, other newcomers are Indonesia's Arifin Panigoro (US$610 million) and Boenjamin Setiawan (US$460 million).

Malaysia and Thailand have nine individuals each on the list, Indonesia has eight and Philippines and Singapore seven each. Ms Lum's stake in Hyflux was recently reported to have fallen below 40 per cent following the entry of a new substantial shareholder.