Millionaires in Malaysia:

26,000 and counting

December, 2014

Beijing • Buenos Aires • Frankfurt • Hong Kong • Hyderabad • London • Madrid • Mexico City • New York • San Francisco • Seoul • Shanghai • Singapore • Sydney
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 Islamic Banking - Malaysia
Malaysia city rankings
by millionaires 2013

Kuala Lumpur 13,800

Petaling Jaya 1,744
Shah Alam 1,017
Johor Bahru 640

Malaysia Financial
Subang Jaya 550
District
Kuching 443
Ipoh 420
Malaysia HNWIs – Key Facts Klang 342
Seremban 299
 Kuala Lumpur is the city with the highest level of Sibu 275
HNWIs at 13,800 in 2013, more than Abu Dhabi
Others 6,484
(12,500), Cape Town (8,753) or Birmingham (8,736).
Malaysia HNWI facts
 Malaysian billionaires held 209% more wealth than
the whole Paraguayan HNWI population together.
 Overall HNWI wealth in
Malaysia was US$151
 54% of Malaysian HNWI foreign wealth is invested in billion in 2013.
Asia-Pacific countries; compared to only 46.8% of
Indonesian HNWI foreign wealth.  15.2% of Malaysian
HNWIs made their wealth
 Malaysia is forecast to have more billionaires in 2018 in Financial Services.
(20) than the United Arab Emirates (19).
 Malaysian wealth
increased by 45.5% over
Malaysia - Exclusive 2009-2013.

In 2013, Malaysia had over 26,000 HNWIs
with their wealth standing at US$151
billion. Malaysian wealth grew at the
remarkable rate of 59.6% between 2009
and 2013 and is expected to increase by a
further 28% to reach US$206 billion in
2018. The number of millionaires is
expected to reach 30,054 by 2018.
Malaysia’s billionaire growth has also
been large; with US$46 billion in 2013
Malaysian billionaires have 209% more
wealth than the entire millionaire
population of Paraguay.
Malaysia’s overall wealth is similar to  Kuala Lumpur is the city
countries such as Argentina (US$160 with the highest level of
billion), Colombia (US$154 billion) and HNWIs at 13,800.
Indonesia (US$206 billion).
 54.1% of Malaysian HNWI
“With a population of only 28.3 million,
foreign wealth is invested
Malaysia has a similar number of
in Asia-Pacific countries,
millionaires than much more densely
followed by 11.4% in
populated countries such as Indonesia,
whose population stands at 237.6 South America and 9.5%
million. This demonstrates the big in Africa.
potential for billionaire growth in
Malaysia,” comments WealthInsight
analyst Tom Carlisle.

Page 1 WealthInsight ● Millionaires in Malaysia: 26,000 and counting


Investment in infrastructure across
Malaysia is necessary for wealth creation
“Since becoming an Islamic
banking hub, Malaysia has
seen a large surge in
investment to its shores,
increasing by 52.6% since
2008 to US$11.6 billion.”
Industrial Categorisation - Malaysian HNWI (2013)
Report definitions:
 “Multimillionaires” otherwise known as “ultra high net worth individuals” or “UHNWIs” are
individuals with net assets of US$30 million or more excluding their primary residences.
 “Millionaires” otherwise known as “high net worth individuals” or “HNWIs” refer to
individuals with net assets of US$1 million or more excluding their primary residences.
Page 2
Islamic banking wealth creation
Unlike other economies in the Asia- 57.2% and 55.1% respectively”, says
Pacific, the Islamic private banking Carlisle.
sector in Malaysia has been positively
Just like many countries in the Asia-
influenced by the government. This
Pacific, Malaysia can increase wealth
has come in the way of infrastructure
creation through investing significantly
projects and increased spending in
in infrastructure and offering tax
education. The investments over the
incentives to foreign businesses to
next five years will provide Islamic
invest more in the country.
private banks in Malaysia the
opportunity to employ homegrown “Malaysia saw a significant increase in
talent and provide a high quality foreign direct investment and higher
service to HNWI clients. levels of activity in the local stock
market, performing better than the
“Since becoming an Islamic banking
global average between 2009 and
hub, Malaysia has seen a large surge in
2013,” says Carlisle.
investment to its shores, increasing by
52.6% since 2008 to US$11.6 billion.
Malaysia has also seen a large increase
in HNWIs acquiring their wealth in
finance as well as in real estate and
construction, increasing by 64.8%,
Malaysia HNWIs
The Malaysian economy has performed well during the
financial crisis, resulting in the amount of HNWIs rising
by 45.5% over the period 2009-2013 to 26,015.
“Growth like this is very hard to maintain, but the high
rising level of new wealth and investment in Malaysia
and neighboring countries means further growth will
be seen. Malaysian HNWIs are currently investing 54%
of their overseas portfolio in the Asia-Pacific,” says
Carlisle.
“Malaysian HNWI wealth has increased substantially,
finding high levels of growth and investment in real
estate which will be influenced further by the high
levels of GDP estimated over the next five years.”
WealthInsight ● Millionaires in Malaysia: 26,000 and counting
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