Saturday, 22 March 2014

Robert Kuok still rooted to Malaysia despite spending 40 years in Hong Kong

THERE is a bit of a romantic streak in South-east Asia's richest man, it seems.
Four decades ago, Tan Sri Robert Kuok decamped Malaysia for Hong Kong.
The ostensible reason: lower taxes in Hong Kong. What some say: a fierce dislike of Malaysia's controversial New Economic Policy favouring the bumiputeras and the resulting cronyism.
Whatever his reasons, Kuok says of the country in which he was born: "I haven't lost my affection for Malaysia."
In a telephone interview with The Straits Times on Tuesday, the tycoon elaborated on his donation of RM100mil to build Xiamen University's first overseas campus in Salak Tinggi, Selangor.
The largess was announced last week during a lunch with Chinese President Xi Jinping when the latter visited Malaysia.
"It is a gesture of appreciation. I only wish Malaysia well," said Kuok.
The magnate is known for being averse to media interviews and had not granted one to the international media for 16 years, barring one to Bloomberg in January this year.
He may have marked his 90th birthday on Sunday, but showed little signs of his age except for some impact on his hearing.
Asked about succession plans for his HK$300bil (RM123.8bil) conglomerate Kuok Group, Kuok firmly insisted that it was a "private matter - a family matter, a company matter".
"I will not poke my nose into other families' (businesses), and I hope they won't poke their noses into mine," he said.
It was an acerbic retort to a recent cover story by Hong Kong's Chinese-language Next magazine, which speculated that five of Kuok's eight children were jockeying to take over the helm.
Unlike peers such as Li Ka Shing, Kuok has yet to announce who will head his empire, which includes three listed enterprises - Kerry Properties encompassing the Shangri-La chain of hotels, the SCMP Group which runs the South China Morning Post and Singapore-listed Wilmar International, the world's biggest processor of palm oil.
Further incurring his ire was the magazine's allusion to an "open secret" that Kuok - who is twice married - has a third family in Shanghai.
"I (only) wish that journalists who write those articles can find me a third wife!" he said irritably.
On whether he would take any legal action against the periodical, he said: "Those are filthy productions, and if you want me to dive into dirty drains (with them), I hope I'm not that stupid."
Kuok was more forthcoming in talking about the ties that continue to bind him to his home country.
"Our family enjoyed relative success due to the benevolence of the host country where my parents settled," he said. Immigrants from Fujian, they ran a shop in Johor Baru selling rice, sugar and flour.
When Kuok senior died in 1948, the then 25-year-old Robert established Kuok Brothers with his brother and other family members. Its success would eventually earn him the moniker "Sugar King".
Kuok, who was educated at Raffles College where he was classmates with Lee Kuan Yew, later moved his base to Singapore.
Tracing those years, he said: "We were minnows in the pond, then we entered the lake where we grew to five to 10 pounds."
By 1960, he was trading sugar and rice with China, skilfully navigating any political turbulence.
"Later, the ocean - Hong Kong and China - attracted my attention and so the fish could become even larger," he said.
His focus today is on China's economic development, "instead of interfering in the politics of China", he said, in apparent allusion to critics who say he is too cosy with Beijing leadership.
Staff from the SCMP for instance, have complained that under Kuok ownership, the paper censors stories it thinks the Chinese government would not like.
But, he said, like the giant leather-backed turtles of Terengganu which return to the same sandy beaches every year to lay their eggs, he feels the primal tug of home.
"Roots are roots, except that my other root is the root of my parents - and that is China. I am twin-rooted."
Asked about the sense of discrimination among the Chinese in Malaysia, Kuok demurred, saying: "This will lead only to highly controversial statements, which is not good for anybody. One must never hurt those Chinese who are living in Malaysia, never be the cause of any kind of inter-racial hostility.
"We all feel it, but there may come a day, with the proper platform (do we then talk about it).
"What's most important is the timing."
And the present is not the right time? The man laughed: "Certainly not this morning, to a journalist!" – ANN/Straits Times

What you can do with Kuok's billions

MALAYSIA'S richest man Robert Kuok is so rich that you get vertigo by just looking at the number of zeroes on his price tag.

Yes, the exemplar sugar king (some call him the "original sugar daddy" in an inoffensive sense) is top of the country's wealthiest list for yet another year, according to the latest survey by Malaysian Business released late last week, which put his net worth at more than RM50 billion.That's a humdinger of a sum. If we were to write that in numerals, RM50 billion will have the number five followed by 10 zeroes -- 12 if you include the sen denomination. Certainly not enough room to occupy the numerical space in a cheque.

That's how rich Kuok is.
Still, for ordinary folk, it is hard to imagine how much RM50 billion is or what one could do with it. Well, here's a little perspective to give a rough idea:

His wealth is 200 times more than the Perlis budget for this year as tabled at the legislative assembly a few months ago, which is RM262 million and more than 100 times Kelantan's RM464 million. Heck, it's even 30 times bigger than the annual budget of Malaysia's richest state of Selangor (RM1.43 billion).

That's how rich Kuok is.

RM50 billion is also large enough to build four Putrajayas or five Kuala Lumpur International Airports. If Kuok gives a RM5 ang pow to each and everyone on the planet today, he would still be left with RM15 billion and would only go down one spot in the richest Malaysian list to be runner-up to T. Ananda Krishnan, who has an estimated fortune of RM45.8 billion, according to Malaysian Business.

If Kuok were to string his cash end to end in RM10 notes, the link would probably be long enough to stretch from Johor Baru, his hometown, to Hong Kong, his place of residence now.

That's how rich he is.

Kuok is listed by Forbes as the richest man in Southeast Asia, in the top eight in Asia and in 34th place in the world rankings, which has Mexican businessman Carlos Slim Helu in the No. 1 spot with assets worth US$53.5 billion (RM165.8 billion), followed by American Bill Gates, the Microsoft president, at US$53 billion (RM164 billion).

Even then, being in that position means that Kuok is richer than George Soros, the American currency trader who became famous here for the wrong reasons 14 years ago, and Russian magnate Roman Abramovich. Soros is one rung below Kuok while Abramovich, the free-spending owner of glamour English premier league club Chelsea, is several notches below at No. 50 with assets worth a little more than US$11 billion (RM34.1 billion).

That's how rich he is.

Kuok, whose empire has expanded from sugar to hotels and oil and gas, has been top of the Malaysian charts for ages, ahead of the usual suspects dominating the rankings, such as Public Bank's Tan Sri Teh Hong Piow, Genting Group's Tan Sri Lim Kok Thay and Tan Sri Syed Mokhtar Albukhary of the Albukhary Foundation.

Some people are, however, quietly cynical about the list, reckoning that some names are "conspicuously missing", ranging from royalty to politicians and some other businessmen.

But whatever it is, nobody can begrudge or take away the credit from Kuok. We have to hand it to him for his self-made achievements. In fact, the Kuok success story should be an inspiration to Malaysians in business and politics though it is most unfortunate that he has chosen to reside in Hong Kong now.

Euromoney magazine once described his business empire as having been built on "political astuteness, an Asia-wide network of contacts and a willingness to take risks".

Now that's a power statement from the international news magazine on financial markets because, despite being low profile, Kuok's connections with some politicians are quite well known. But, of course, that's his prerogative and there's nothing wrong with it.

Only that the publicity-shy persona seems to be the trademark of most, if not all, Malaysian tycoons. Ananda Krishnan is known to have only given one press interview before and it's the same with Syed Mokhtar.

Frankly, I don't know what they are scared of.

Euromoney reported that in one of the rare TV interviews given by Kuok in 1994, when asked about his "sense of mission" as a great entrepreneur, he bluntly replied that the most important thing was "to make money".

That's how focused Kuok was.

Read more in the NST here.

The last paragraph says how focused Kuok was, I agree and we can all learn to practice the word, yes "focus". If you do not and cannot focus on what you plan to do, you cannot achieve anything in life, lets not even start to talk about making the first RM1 million OK and I am not talking about race here.

Chronology:Robert Kuok

  • 1923, October 6: Robert Kuok Hock Nien was born in Johor BahruJohor, the youngest of 3 brothers.
  • Unknown: Robert Kuok studied at Raffles Institution in Singapore.
  • 1942-1945 (age 18-21): Upon graduation, Robert Kuok worked in the grains department of Mitsubishi, a Japanese industrial conglomerate Mitsubishi.
  • 1948 (age 24): Robert Kuok's father died.
  • 1949 (age 25): Robert Kuok and his 2 brothers founded Kuok Brothers Sdn Bhd, trading in agricultural commodities. Under the new post-colonial government, Kuok started in the sugar business alongside the government.
  • 1961 (age 37): Robert Kuok made a coup by buying cheap sugar from India before the prices shot up. He continued to invest heavily in sugar refineries, controlled 80% of the Malaysian sugar market with production of 1.5 million tonnes, equivalent to 10% of world production, and so earned his nickname "Sugar King of Asia".
  • 1971 (age 47): Robert Kuok built his first Shangri-La Hotel in Singapore.
  • 1977 (age 53): Robert Kuok made his first foray into Hong Kong property, when he acquired a plot of land on the newly reclaimed Tsim Sha Tsui East waterfront. Here, he built his 2nd hotel, the Kowloon Shangri-La.
  • 1985, November 22: Robert Kuok won the Golden Pyramid award that made him the Malaysian Entrepreneur for 1985. His son, Khoon Ean, received the award from Acting Prime Minister Datuk Musa Hitam on behalf of his father.[1]
  • 1993 (age 69):
    • Robert Kuok's Kerry Group acquired a 34.9% stake in the South China Morning Post from Murdoch's News Corporation.
    • April 1: Robert Kuok officially retired from the Kerry Group and currently resides in Hong Kong.
  • 2009, October 31 (age 86): Robert Kuok's PPB Group issued a statement to Bursa Malaysia that it has decided to dispose of its sugar units, along with land used to cultivate sugarcane, to Felda for RM1.29 billion.
  • 2010 (age 87): Robert Kuok delisted Allgreen Properties in Singapore, and Jerneh Asia in Malaysia by buying back all shares.[2]
  • 2011 (age 88): Forbes valued Robert Kuok's personal wealth at US$12.4 billion, ranking him at No. 1 on the Forbes list of Malaysia's Richest.

Pengenalan tentang keusahawan Robert Kuok Hock Nien

Robert Kuok Hock Nien

Kelahiran: 6 Oktober 1923 (90 tahun)
Johor Bahru, Johor, Malaysia
Tempat tinggal: Hong Kong
Nama lain: taek
Etnik Bangsa: Han
Kerakyatan: Malaysia
Pekerjaan:  Pengerusi, Shangri-La Hotels and Resorts Chain
Nilai harta
kekayaan ▲ US$ 12.5 bilion (anggaran)
Pasangan: Ho Poh Lin
Anak: lapan

 Merujuk kepada Forbes nilai kekayaannya dianggarkan di sekitar $12.5 bilion pada tahun 2011, menjadikan beliau orang terkaya di Malaysia dan seluruh Asia Tenggara pada tahun tersebut.[1]
Kuok bermula dengan berniaga gula, beras dan tepung di tahun 1949. Kini beliau adalah orang utama syarikat multinational, Kumpulan Kuok.
Kuok merupakan seorang yang pemalu pendiam dan menyendiri; kebanyakan daripada perniagaannya dipegang oleh beliau dan keluarganya. Selain daripada pelbagai jenis perniagaan sendiri di Malaysia, syarikat beliau mempunyai pelaburan di banyak negara di Asia. Kepentingan perniagaannya merangkumi daripada penanaman tebu di (Perlis Plantations Bhd), penapisan gula, pengilangan tepungpemakanan binatangminyak dan perlombongan hingga ke kewangan, hotel-hotel, hartanah, perdagangan dan pengangkutan (International Shipping Corporation, Transmile Group) dan penerbitan.[1]