KUALA LUMPUR, Nov 28 - Ananda Krishnan, who died today aged 86, leaves an indelible mark in corporate Malaysia having founded several top-notch companies and emerging as among Malaysia's richest men.

Born in Brickfields, here, Ananda founded and built companies in telecommunications, satellite television, oilfield services, and property development - industries that have become integral to Malaysia's corporate landscape.

His companies, from operating TGV Cinemas to Maxis Bhd, Astro Holdings, Bumi Armada, Measat Satellite Systems, and Tanjong Plc, along with the products they offered, have become household names in Malaysia.

Besides this, a major landmark attributable to Ananda in Kuala Lumpur was his involvement in the development of the iconic Petronas Twin Towers and the surrounding KLCC Suria property development.

No less important was Measat, then known as Binariang Sdn Bhd, which launched its first two satellites in 1996, thereby propelling Malaysia into the space industry.

It paved the way for reliable telephone and data transmission services throughout the country.

A statement today by his flagship investment company, Usaha Tegas Sdn Bhd, of which he is chairman, said Ananda had made significant contributions to nation-building and the corporate world.

"His philanthropic initiatives have touched many lives. We humbly ask that the family's wishes to mourn in private be respected," the company said.

Ananda was undoubtedly a visionary entrepreneur and philanthropist, known for his deal-maker moves and corporate manoeuvres, especially in the media and telecommunications landscape.

Despite his billionaire status, Ananda was a private person with a quiet demeanour and shunned media publicity.

Nonetheless, his corporate moves were the talk of the business world not only in Malaysia but also in other countries through his ventures across many sectors, which also included oil-related services.

He is survived by his son, Ven Ajahn Siripanyo, whose mother, Momwajarongse Suprinda Chakraban, is of Thai royal descent. Ven later became a Buddhist monk.

Ananda also has two daughters.

It is little known in Malaysia but Ananda had reportedly helped finance the Live Aid concert, the biggest and most significant concert in 1985, which featured a phenomenal performance by rock band Queen and their frontman Freddie Mercury.

According to Forbes, Ananda, a devoted Buddhist, helped raise US$240 million for the Live Aid concert for African famine relief.

He reportedly had a net worth of US$5.1 billion as of Nov 27 this year, according to Forbes' World Real Time Billionaires List, making him the third wealthiest Malaysian.

Early life and career

Born in 1938 in Brickfields, Kuala Lumpur, Ananda's lineage can be traced back to Sri Lanka.

His academic journey began at Vivekananda Tamil School and the prestigious Victoria Institution in Kuala Lumpur.

He pursued a Bachelor's degree in Political Science and Economics at the University of Melbourne and later earned an MBA from Harvard University.

Ananda started his career by founding a consulting firm, MAI Holdings Sdn Bhd, before venturing into the oil and gas industry through Exoil Trading, securing exploration permits in various countries.

His business acumen then led to the creation of a vast empire spanning multiple sectors including telecommunications (Maxis Bhd), media and satellite (Astro and Measat), oil and gas (Bumi Armada), controlled Tanjong Public Ltd Company, encompassing TGV Cinemas and leisure operations.

Ananda was also involved in real estate development.

Corporate manoeuvres in the spotlight

Ananda, who founded Maxis Bhd on April 1, 1993, foresaw many milestones in the telecommunications company, making it among the top 30 companies in Bursa Malaysia's FBM KLCI index, as well as the top three key industry players.

One of the moves included taking the firm private in 2007, considered one of the biggest buyouts in corporate Malaysia, for a whopping RM16.4 billion and relisting it on Nov 19, 2009.

Maxis then grew to become among the top 30 companies in Bursa Malaysia's FBM KLCI index and among the three largest telecommunications providers.

Maxis now has more than 13 million customers while the satellite operator Measat, which is running the world-class MEASAT Teleport and Broadcast Centre in Cyberjaya, has a satellite footprint covering 130 countries.

On July 16 this year, Ananda was again in the spotlight, with market talk suggesting that Maxis was exploring a buy-out of U Mobile Sdn Bhd.

However, it was later confirmed by a foreign news agency that Tan Sri Vincent Tan, who is among the major shareholders of U Mobile, had rejected the offer.

More recently there was news that oil field services company, Bumi Armada Bhd, also controlled by Ananda, was said to be considering buying MISC Bhd's offshore energy business.

Following that, it was reported that the two companies were exploring a merger, particularly involving Bumi Armada's floating production, storage and offloading (FPSO) assets.

Helping those in need

Known for his philanthropic works, Ananda played a crucial role in global events like Live Aid, leveraging media platforms to drive charitable initiatives.

He has consistently contributed to charitable causes, donating to temples, educational institutions and other organisations.

Other charitable works were through foundations such as Harapan Nusantara and the Yu Cai Foundation, which provides scholarships to local students and supports educational development.

Ananda will be remembered as a pioneer who transformed Malaysia's media, telecommunications, and entertainment sectors.

His innovations and contributions undoubtedly elevated Malaysia's standing in global business and technology. - Bernama

Ananda's Wake
Brickfields, Dec 3, 2024

His son, Ven Ajahn Siripanyo

Funeral, Dec 4, 2024

Saturday September 26, 2009 The entrepreneur with the Midas touch By Tee Lin Say CALL him anything you want a recluse, a hard driver, elusive even but it's hard to dismiss Malaysian billionaire T. Ananda Krishnan's (AK) phenomenal business acumen and razor sharp instincts. Based on data from Forbes widely-followed list of world s billionaires, with an estimated net worth of a whopping US$7.4bil, AK tops out as South East Asia s third richest man, only after fellow Malaysian Tan Sri Robert Kuok and Singapore's property magnate Ng Teng Fong. On a global scale, he turns up at 119th spot in terms of riches. Interestingly, although much has been written about his UTSB (Usaha Tegas Snd Bhd) empire, especially its stable of listed companies at presently that includes Astro All Asia Networks plc, Tanjong plc and Measat Global Bhd not enough is known about the man himself. That he is a mighty low-key businessman, deliberately that way, who is rarely spotted at business or social events makes him even more of an enigma. The little that we do know of him is gleaned through the many corporate moves and turns he has made for decades in Malaysia and abroad to expand his sprawling business empire with businesses in telecommunications, property, gaming, power, satellite, media and so forth. But even as he leads a tightly-guarded private life, he is widely known to be generous, donating to numerous charities, temples and providing scholarships for the needy and deserved. A few years ago, it was reported that he had given away as much as RM160mil to charities through privately-owned UTSB Group. Much of the good works are done through the foundations established by UTSB namely the Malaysian Community and Education Fund, Harapan Nusantara Fund and Yu Cai Foundation. As their names suggest, these foundations are mainly focused on the area of education. Clearly, he is well read, well informed and supremely articulate. I had a truly wow moment, says one banker who has a lasting impression of the man he met only once, some 12 years ago. If you know your stuff, he will be reasonable. Otherwise, he can be impatient and tends to get agitated if you don't know what you are talking about. He respects those with brains, says another person who has worked closely with him in the past. Rise and rise AK was born in 1938 in Brickfields, Kuala Lumpur. His parents are from Jaffna, Sri Lanka. He studied at the Vivekananda Tamil School in Brickfields and later, the Victoria Institution in the city. He pursued his tertiary education at the University of Melbourne, Australia where he majored in political science, after which he pursued a Masters in Business Administration at Harvard University in 1964. He has three children, one of whom is a monk. He is said to have a penchant for modern art pieces and has beautiful homes scattered in lovely cities around the world (apart from KL) such as London, south of France and Melbourne. He owns a stunning multimillion Kia Ora homestead a breeding ground for horses near rural Scone, about 330 km from Sydney, which he acquired five years ago from the Miller family who owned the property for just over four decades. The restored sensational and practical property won the prestigious 2006 Housing Industry Association Hunter Home of the Year Award. AK's first major entrepreneurial venture was oil trading; he set up Exoil Trading, which went on to purchase oil drilling concessions in various countries. Later he ventured into the business of gaming in Malaysia, stud farming in Australia and even ran a Hollywood cartoon studio. He first emerged in the glare of publicity in the mid-80s when he helped organise the Live Aid concert with musician and social activist Sir Bob Geldof. His many big business moves and close contact with the influential and powerful made him one of the most talked about men in the country s corporate circles. His companies largely operate in hot spots in South East Asia. A quarter of AK's wealth comes from the gaming business lottery and horse-racing wagering. In 2007, Astro forked out a whopping RM580mil for a 20% stake in a pay-TV company in India, Sun Direct TV Pte Ltd. AK plans to produce TV channels which cater to the Indian market, especially the Tamil diaspora in the United States and Europe. He also owns stakes in TVB.com and the Shaw Brothers movie archives. The AK Factor A fund manager who tracks the Usaha Tegas stable of companies says that generally, the market holds a high opinion of AK companies. AK's companies demonstrate good business sense, are transparent and uphold solid corporate governance, she says. Thus, it is no wonder that most of AK's companies trade at a premium. Astro, for example, trades at a massive 36 times times price earnings ratio (PER). It's gaming company, Tanjung Plc, trades at 10 times while Maxis will probably trade in the high teens too. It was his exceptional entrepreneurial flair and foresight that managed to impress the then prime minister Tun Dr Mahathir Mohamad with the idea to build the 88-storey Petronas Twin Towers. He was an original investor of the vast Petronas towers, designed to be the world's tallest buildings. The Twin Towers have since been surpassed by landmark skyscraper, Taipei 101, in Taiwan. The towers are today still the tallest twin buildings in the world. They were the world's tallest buildings from 1998 to 2004. Last year AK sold ExCel London, the exhibition venue in London's Docklands, for a reported US$230mil and bought a 20% stake in British regional newspaper chain Johnston Press.   From the V.I. Archives As a member of the Society of Drama 1952. (Ananda Krishnan is sixth from left in the middle row) As Sir Toby Belch (second from left) in the 1953 V.I. production of Twelfth Night. (At extreme left is Ramon Navaratnam as Maria!) As Sir John Falstaff (centre) in the 1954 V.I. production of Henry IV Pt I. (At left is his future business partner, Khoo Teng Bin, as Prince Hal) As a School Prefect 1955. Receiving the Oratorical Championship Shield from Lady Templer 1955 Crowned Malayan Oratorical Champion 1955 As a Colombo Plan student at Melbourne University, 1956 Melbourne University (undated) <<<<<<>>>>>>

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