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4 M’sians Just Joined The Forbes Billionaires 2021 List, Here’s How They Got There

Not too way back, the Forbes’ thirty fifth annual listing of billionaires for 2021 noticed 4 Malaysian faces new to it added. They are the Tan brothers of MR DIY Group (M) Bhd, Tan Sri G. Gnanalingam of Westports Holdings Bhd, and Tan Eng Kee of Greatech Technology Bhd.

The Tan brothers, Tan Yu Yeh and Tan Yu Wei, have estimated web worths of US$1.8bil and US$1.1bil respectively, whereas Tan Sri G. Gnanalingam’s is US$1.7bil and Tan Eng Kee’s is US$1.1bil. 

These Malaysians didn’t rise as much as their billionaire standing at the moment out of nowhere, so right here’s a glance again at how they rose up the ranks to turn out to be newly recognised billionaires.

The Tan Brothers

While each the Tan brothers play an necessary position in Mr DIY at the moment, an area dwelling enchancment retail chain, it was really based by Tan Yu Yeh, the older brother, in 2005. He is presently the Non-Independent Executive Director and Executive Vice Chairman of Mr DIY.

Tan Yu Yeh graduated from University of Malaya in 1996 with a Bachelor of Science in Physics. He then labored as an engineer with Komag USA in Malaysia for a yr earlier than working as a remisier with Inter-Pacific Securities till 2009.

In July 2005, he opened the primary Mr DIY retailer in Jalan Tuanku Abdul Rahman and at the moment, his model has grown to over 700 shops throughout the nation serving over 80 million clients per yr. 

The youthful Tan brother, Yu Wei was a director at De Little Chinatown, a wholesaler for Chinese merchandise previous to becoming a member of the Mr DIY staff in 2011. 

He graduated from Universiti Sains Malaysia in 1998 with a Bachelor of Management (Honours) and later labored as a manufacturing supervisor at Solectron Corp. (USA) in Malaysia for two years. When he joined Mr DIY, he was in control of the Group’s logistics and procurement departments. 

Together, they grew Mr DIY quickly, and a straightforward and environment friendly growth was credited to their funding right into a POS system.

From their monetary highlights, Mr DIY has been seeing a rise in earnings from 2017 till 2020. In 2020, the corporate debuted on the Main Market of Bursa Malaysia because the nation’s largest IPO for the yr, with a market capitalisation of RM10 billion, and the IPO train raised roughly RM1.5 billion from each institutional and retail traders. Their shares additionally hiked as much as as a lot as 9.4% on its first day of buying and selling.

While the pandemic did have an effect on them, they have been in a position to preserve resilience with a V-shaped restoration in May and June 2020 with an combination income 11.9% greater as in comparison with the pre-COVID-19 interval of January and February 2020.

From 2018 to 2020, Mr DIY has been constantly rising because the winner within the nationwide tier of the World Branding Awards as a retailer beneath the Home Improvement Category. Last yr, in addition they acquired the Best Practices Award from Frost & Sullivan for the Malaysia Home Improvement Retail Market Leadership Award.

Tan Sri G. Gnanalingam

Westports Holdings Sdn Bhd, a multi-cargo port operator, is chaired by Tan Sri G. Gnanalingam who co-founded it with Ahmayuddin bin Ahmad in 1990. It was commenced in September 1994 when the Port Klang Authority (PKA) handed over the port to them to function beneath a 30-year concession.

Tan Sri G. Gnanalingam is a graduate from the University of Malaya in 1968 with a Bachelor of Arts and in addition has a masters from Harvard Business School, which he attended in 1983.

Prior to Westports, he spent the primary 16 years with the Malayan Tobacco Company and was identified to be a “marketing wizard”. He later left the corporate to arrange his personal firm, the G-Team Consultancy, the place his most notable achievement was boosting RTM’s promoting income from RM60 million to RM380 million.

Westports owns 80% of the market share of Port Klang’s container site visitors, and Port Klang is our nation’s largest and most necessary port out of the 8 different federally-administered ports we’ve got. It dealt with virtually 40% of all cargo by Malaysian ports in 2018. Tan Sri G. Gnanalingam was even named Transport Man of the Year in 2001 by our Ministry of Transport.

Today, Westports stand because the world’s twelfth busiest port out of the highest 50 world container ports. It was listed on the Main Market of Bursa Malaysia in October 2013 and was set to lift RM2 billion. However, this itemizing wasn’t meant to lift funds for the corporate, however reasonably to boost its profile to market its companies and set up liquidity for its shares.

Last yr, Westports invested RM323mil in capital expenditure and noticed a ten.7% bounce in web revenue to RM654.48 million from RM590.89 million in 2019 on the again of upper income of RM1.97 billion from RM1.78 billion beforehand. They additionally noticed a 30% rise in web revenue for This fall 2020, because of greater container income and decrease operational value. 

Tan Eng Kee

Seems like the brand new billionaire entrants of the yr are dominated by Tans, and this billionaire is the CEO of Greatech Technology, which makes manufacturing facility automation gear. Their clients embrace electrical automobile makers, photo voltaic power producers, and semiconductor firms. Some of their clients embrace Fortune 500 firms.

When Eng Kee was 16, he labored part-time at a bakery after faculty hours to herald extra revenue for his household. He obtained a Certificate in Mechanical Engineering from Politeknik Sultan Abdul Halim Mu’adzam Shah, Kedah in 1991. 

Prior to Greatech, he labored as a precision planner then as a gross sales government at Prodelcon, a precision tooling firm, for 2 years after his certification. After that job, he based Greatech in 1997 with a college buddy, Khor Lean Heng, who serves because the COO of the corporate at the moment. 

In June 2019, Greatech debuted on the ACE Market of Bursa Malaysia. It listed for a market capitalisation of RM381.86 million, and managed to lift RM73.05 million from its IPO beforehand. Today, the corporate has 8 factories on high of a testing facility within the US, which is one in all its largest markets. 

Last yr, they noticed a web revenue bounce of almost 68% YoY to RM91.16 million of their FY20 with a share worth rise of 267%, principally because of the elevated demand for its manufacturing line techniques from the electrical automobile (EV) power storage business.

They’ve additionally received the Golden Eagle Award by Nanyang Siangpau in each 2017 and 2018 and the Product Excellence Award beneath the Business Excellence Awards by Sinchew Daily in 2018.

  • You can be taught extra concerning the Forbes thirty fifth annual billionaire listing right here.
  • You can learn extra Forbes-related articles we’ve lined right here.

Featured Image Credit: Tan Yu Yeh, NSTP / Tan Sri G Gnanalingam / Tan Eng Kee


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