Oil barons are back in business
Prathab V | 10 May 2019 00:30
The steady increase in crude oil prices since January 2017 from US$40 per barrel to US$71 currently is bringing back smiles to oil barons in the country. Many have seen sigificant increases in the value of their stakes (see table).
The total market capitalisation of the 26 listed companies as of April amounts to RM57.287 bil, up almost 30% from RM38.912 bil in January 2017. But this is still small when compared to other Bursa Malaysia listed companies. To put this into perspective, the largest listed company on the local bourse is Malayan Banking Bhd, whose market capitalisation exceeds RM101 bil!
In calculating the wealth of these individuals and companies, we relied mostly on publicly available data from their Bursa Malaysia filings, Bloomberg data and information from the Companies Commission of Malaysia (CCM). As with most companies, calculating the exact shareholding of individuals is a complicated exercice. Hence, we took a conservative approach, discarding shares held by the offspring and other family members.
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