Syed Mokhtar Albukhary Emerges As EcoWorld Primary Shareholder
As part of a corporate restructure, the company’s shares exchanged hands from Datuk Leong Kok Wah to Tan Sri Syed Mokhtar Albukhary.
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Tan Sri Syed Mokhtar Albukhary has become the primary stakeholder of Eco World Development Group (EcoWorld), after the property development company announced a corporate restructure — mainly after all of its shares belonging to Datuk Leong Kok Wah were transferred to Syed Mokhtar.
Following the transfer, Kok Wah is no longer the main shareholder, as Syed Mokhtar emerges as the new primary shareholder through an indirect interest.
According to Berita Harian, the restructuring involved the transfer of Kok Wah’s entire holding in Syabas Tropikal to Syed Mokhtar.
Syabas Tropikal wholly-owns Sinarmas Harta Sdn Bhd, which holds 969.9 million shares in EcoWorld, which is equivalent to 30.1% of EcoWorld’s issued share capital.
Syed Mokhtar, The Quiet Billionaire
Syed Mokhtar is an influential Malaysian business tycoon and philanthropist who has a current estimated net worth of USD$3.6 billion (RM14.3 billion) and considered the 10th richest individual in the country, according to American business magazine Forbes.
The billionaire has a reputation of keeping a low profile but holds strong influence in corporate sectors, with a business empire that comprises of infrasctructure, ports, logistics, manufacturing, and automotives.
His corporate footprint is strengthened primarily through listed companies such as MMC Corporation and DRB-HICOM, which has become the mainstay of his strategic hold in the industrial and transportation ecosystem in Malaysia.
EcoWorld currently owns roughly 4,770 hectars of land in the Klang Valley, Iskandar Malaysia, Penang island, and Negeri Sembilan with an estimated gross development value (GDV) of RM100 billion.
The company has five core sources of income that are large and varied — including Eco Townships, Eco Rise, Eco Hubs, Eco Business Parks, and QUANTUM — which enables it to fill all segments of the property market.
Through a project implemented by EWI Capital from 2015 to 2025, the EcoWorld brand also expanded its presence to the United Kingdom and Australia.
Beyond business, Syed Mokhtar also founded the Albukhary Foundation, an international charitable foundation established in 1996. Driven by the values of taqwa (faith) and ihsan (compassion), the foundation focuses on poverty eradication through education and the preservation of cultural heritage.
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