Asian entrepreneurs have demonstrated a remarkable resilience and actually increased their wealth against all odds

Sarwar Ahmed

On Tuesday the saga took a new turn, with Plaid Cymru claiming the tycoon supports proposed tarrifs on steel imports to the US, which could cost "thousands" of British jobs.

A difficult year for the industrialist also saw his wealth fall by around �100m, but with a fortune of �900m left over he keeps his place at the top of the rich list.

Close behind are Srichand and Gopichand Hinduja, who are worth �800m - an increase of �100m during a turbulent 12 months.

The brothers held on to their runners-up position despite arms bribery allegations in India and fierce questioning about their relationship with the Labour Party in Britain.

Former Northern Ireland Secretary Peter Mandelson resigned after it was revealed the brothers were given British passports shortly after donating money to the Millennium Dome.

Internet tycoon

Richest Asians

1) Lakshmi Mittal - Ispat International - �900m 2) Hindujas - Sangam - �800m 3) Jatania Family - Lornamead International - �548m 4) Jasminder Singh - Edwardian Group of Hotels - �400m 5)Vijay and Bikhu Patel - Waymade Healthcare - �298m

The Asian Xpress list, which is released on Friday, 15 March, was compiled by Philip Beresford, author of the Sunday Times Rich List.

Highest new entries are Ranjit and Baljinder Boparan, who take the number 25 spot. The 35-year-old couple have amassed a fortune of �70m from their Dartmouth based chicken-processing firm.

The highest climber in terms of value is the Jatania Family of Lornamead International, whose fortune has increased by �300m to �548m, taking them to number three in the Rich List.

The biggest drop of the year was suffered by software consultant Professor Madan Singh, who has lost over �80m - a drop of 120 places.

Internet tycoon Reuben Singh, 25, who made the Guinness Book of World Records as the youngest multi-millionaire, is said to be worth �35m.

'Remarkable resilience'

The list shows that Asian entrepreneurs are getting younger with 55 of those named still under the age of 40.

Women also take an increasing number of slots, with 47-year old Nighat Awan, Meena Pathak and Perween Warsi all doing well from their Indian food businesses.

Industry remains the most lucrative sector, with food, fashion, retail and the hotel business doing well, despite the predicted impact of the 11 September attacks.

Asian Xpress publisher Sarwar Ahmed, said the list highlights the success of Asian in Britain and their contribution to the community.

He said: "In what has been a difficult year for industry in general, Asian entrepreneurs have demonstrated a remarkable resilience and actually increased their wealth against all odds.

"This clearly demonstrates just how far Asians have integrated into the fabric of British society."