Early life[edit]
Syed Mokhtar al-Bukhary the third of seven children born into a middle-low class of Hadhrami Arab ancestry.[4] His father was a trader who had travelled to Central Asia and Thailand in his youth before settling down in Kedah during the 1940s.[5]When Syed Mokhtar was nine years old, he was sent to Johor Bahru to live with his uncle Syed Omar where he studied until Form 2.[6] He
subsequently returned to Kedah to finish his education until form five
at Saint Michael's School, and he never went to university. A whole lot
of his knowledge and experience was gained through his own
entrepreneurship experience during his youth time.
Due
in part to his family's mediocre-to-poor background, Syed Mokhtar al
Bukhary had to step into the working world early in his life, while
pursuing his primary and secondary studies. He helped his mother
planting and selling vegetables in the market and also selling roti
canai. His numeric knowledge was used to help his father in doing daily
book keeping.
After
finishing school, he helped his father in breeding cow business but
only to see the business washed away by foot and mouth disease.
Nevertheless, he took over the business and start over by selling
meats. He then move on to packaging the meats and start selling them
wholesale.[7]
Syed Mokhtar and Zainal started his business in Kedah in
the 1990s dealing in rice. More success followed and he moved to rice
trading business. He worked even harder after he was awarded the rice
trading license from Lembaga Padi Negara, and was later awarded
successions of supplier contract government-linked corporations as
partner with Zainal Hatim Hj Ambia Bukhary.
As
his determination starting to skyrocket, he quickly moved to expand
into diversification of other businesses. His next big move was in the
logistics business, with initial goal to transport their trading
materials. Today, his business empire has grown into areas such as
plantation, property development, construction, engineering, power
generation, infrastructure and ports.
He owns 51.8% share in Malaysian Mining Corporation via
his wholly owned company, Syarikat seaport terminal (johore) sdn bhd,a
subsidiary company Syarikat Indra Cita Sdn. Bhd. Tan Sri Syed Mokhtar
and Zainal Hatim personally owns SKS Ventures, which was awarded the
task of building the site for 2100MW coal-fired power station at
Tanjung Bin, Johor. Tan Sri Syed Mohktar has a 32% share in PERNAS
through his own company, Syarikat Ratu Jernih. Syarikat Perdana Padu
Sdn. Bhd. and Corak Kukuh Sdn. Bhd. Tan Sri Syed Mokhtar and Zainal are
board members of Syarikat Bina Puri Holdings Berhad, whereby, on his
own, he has 7.34% share. Apart from these, Tan Sri Syed Mokhtar and
Zainal has varied interest in a number of companies, both in Malaysia
as well as abroad.
Recognition[edit]
In
appreciation of his services and contributions, he was bestowed with
several awards, which among others, include the Panglima Setia Mahkota
(P.S.M.) by His Majesty Seri Paduka Baginda Yang di-Pertuan Agong,
which carries the title Tan Sri and the Dato' Setia Mahkota Kedah (D.S.D.K.) by HRH The Sultan Kedah, which carries the title Dato'.
On 10 January 2008 or 1st Muharram 1429 Hijra he
was announced and awarded as "Tokoh Ma'al Hijrah" by The Yang Di
Pertuan Agong of Malaysia in recognition of his contribution to nation
building.
Controversies[edit]
A major gripe by Malaysians is that Syed Mokhtar is reputed to be just a proxy of UMNO (United Malays Nationa Organisation), the ruling party in Malaysia since independence.
He
has been identified as a major beneficiary of political connection that
have given his subsidiary companies monopoly control over crucial
Malaysian sectors which includes sugar mills, rice distribution
(Bernas), power plants generations and trading ports.
Uncontrolled Development in Johor Port[edit]
A
number of companies controlled by Syed Mokhtar have come under attack
for development activities on greenfield sites. For example, the
clearance of mangroves for the development of Johor Port has led to some criticisms from local environmental groups.[8]
Sugar Subsidies Removal COntroversies[edit]
In 2009, Central Sugar which is owned by Syed Mokhtar's Tradewind [9] acquired Robert Kuok PBB group. [10] Following
the Central Sugar acquisition, the government had committed to a
three-year raw sugar import deal at US$26 (RM78.54) per 100 lbs
(45.3 kg) in January 2012 when the global market price for raw
sugar then was at US$23.42 (RM73.57). But by January 2014, the global
price had dipped to below US$16 forcing Govt to withdraw the subsidy
(34 cents per kilogram) for the sugar.With removal of sugar subsidy in
Budget 2013, the profit of Tradewind now escalates to RM 1 billion. [11] [12] [13][14] [15] [16] [17] [18] [19]
Acquisition of large LTE band chunk without previous track record[edit]
In
December 2012, Syed Mokhtar's Puncak Semangat Sdn Bhd is one of the
eight companies that are successfully bid the LTE 2600 MHz from
Malaysian Communications and Multimedia Commission.[20] But
questions were raised as the Puncak Semangat have zero track records
prior to the bid but managed to secured the 40 MHz band. Meanwhile the
other 8 competing companies secured only 20 MHz of the allocation band. [21] [22] [23]
Threat to National Food Securities[edit]
In
March 2014, Syed Mokhtar secure 90% of the PadiBeras Nasional Bhd
(Bernas) after buying the shares owned by Nafas and Nekmat through his
proxy companies:Perspective Lane (M) Sdn Bhd, Kelana Ventures Sdn Bhd,
Seaport Terminal Sdn Bhd, Acara Kreatif Sdn Bhd and Tradewinds Bhd.The
critics are opposing this moves as this puts the nation's food security
into one tycoon hands which will harm the nation food industry and thus
the price of rice will continue to increase further.[24][25] [26] [27]