Kuala lumpur: Malaysian billionaire businessman Anand Krishnan has died at the age of 86. He was also known as AK in Malaysia. his businesses span from oil and gas to telecommunications. Krishnan’s death has been confirmed by his private investment company. The company has not given any reason for his death. Anand Krishnan always avoided publicity. Though, his fame reached international prominence in the mid-1980s after financing the Live Aid concert organized by rock star Bob Geldof.
Coin used to circulate in oil and telecom sector
As a young entrepreneur,he founded a business consultancy firm before moving into oil trading and then gambling.In the 1990s, he diversified into multimedia ventures. Anand Krishnan, popularly known as AK, had stakes in several big companies such as Malaysia’s largest telecom operator Maxis, satellite broadcaster Astro Malaysia and oilfield service provider Bumi Armada. He also had stakes in India’s Aircel and Sri Lanka’s SLTMobitel.
Krishnan was close to Mahathir Mohammed
Anand was a founding director of state oil company petronas and was close to former Prime Minister Mahathir Mohamad.It was Anand Krishnan who sold the idea of building the iconic 88-storey Petronas Twin Towers to the former Prime Minister in the early 1990s. According to Forbes,Anand Krishnan was the sixth richest man in Malaysia wiht a net worth of $5.1 billion. Anand always tried to keep himself a low profile.
Name came in Aircel-Maxis deal
Anand Krishnan’s name also came up in the case of alleged corruption in the Aircel-Maxis deal in 2014. Though, Maxis denied any wrongdoing. This matter is still going on in the court. Ananda Krishnan was the son of a senior official during the British rule, who was transferred from Sri Lanka to British Malaya. Because of this very reason Anand grew up in Kuala Lumpur and received a Master of Business Administration from Harvard Business School in 1964.After marrying a Thai princess, Anand spent most of his time in Europe.
How did Anand Krishnan’s philanthropic efforts influence his legacy and business reputation?
Interview: Remembering Anand Krishnan: A Legacy in Business and Beyond
Time.news Editor: Today, we delve into the life and impact of the late Malaysian billionaire Anand Krishnan, affectionately known as AK. Joining us is industry expert Dr. Sarah Lim, a business analyst with extensive knowledge of the Malaysian economic landscape. Thank you for being here,Dr. Lim.
Dr. Sarah lim: thank you for having me.
Time.news Editor: Anand Krishnan’s death at the age of 86 marks the end of an era for Malaysian business. Can you summarize his contributions too the industries he was involved in?
Dr. Sarah Lim: Anand Krishnan’s influence is deeply ingrained in several significant sectors, including oil, gas, and telecommunications. As the founding director of Petronas, he played a crucial role in the establishment and growth of Malaysia’s state oil company. His ventures in telecommunications with Maxis and Astro Malaysia transformed the industry and made telecommunications more accessible. additionally, his early forays into multimedia ventures during the 1990s showcased his ability to adapt and innovate in a rapidly changing market.
Time.news Editor: He was famously known for financing the Live Aid concert in the mid-1980s, bringing him international fame. How did this event impact his business reputation?
Dr. Sarah Lim: Financing the Live Aid concert certainly put him in the global spotlight, adding an element of philanthropy to his business persona.It painted him as not just a businessman but a socially conscious leader, responsible for contributing to a significant cause. This alignment with such a prominent global event helped elevate his profile, showing that he could blend corporate success with impactful social responsibility.
Time.news Editor: Anand was known for his low profile, often avoiding the limelight. How does this approach affect business leaders today?
Dr. Sarah Lim: Anand’s discretion is a pattern that many successful business leaders follow. It allows them to focus on their work without the distractions of public scrutiny. In today’s hyper-connected world, where social media can amplify every action, maintaining such an approach can provide a buffer against negative press. It also allows them to build credibility based on their business outcomes rather than personal fame, which can be quite beneficial in the long run.
Time.news Editor: His connection to Mahathir Mohamad is noteworthy, especially in relation to the Petronas Twin Towers project. What does this signify about political ties in business?
Dr. Sarah Lim: Anand’s close relationship with former Prime Minister Mahathir Mohamad highlights the often intertwined nature of business and politics in Malaysia. Political alliances can be essential for advancing projects of significant national interest, like the Petronas Twin Towers, which became an international symbol of Malaysia. While beneficial, these ties can also lead to scrutiny, as seen in the ongoing aircel-Maxis corruption case.It emphasizes the importance for business leaders to navigate these relationships carefully.
Time.news Editor: Anand Krishnan was listed as the sixth richest man in Malaysia with a net worth of $5.1 billion. What key takeaways can aspiring entrepreneurs learn from his journey?
Dr. Sarah Lim: One major takeaway is the importance of diversification. Anand successfully ventured across various industries, which mitigated risk and maximized growth potential. Additionally, education played a critical role in his success; his MBA from Harvard was foundational. Aspiring entrepreneurs should seek continuous learning and be open to exploring new opportunities. Lastly, staying grounded and discreet, much like Anand, can assure a focus on long-term goals amid potential distractions.
Time.news Editor: Thank you, Dr. Lim,for sharing your insights on Anand Krishnan. His legacy certainly provides valuable lessons for current and future business leaders in Malaysia and beyond.
Dr. Sarah Lim: Thank you for having me. Anand Krishnan’s impact will continue to resonate within the business community for years to come.