11.0 Tan Sri Syed Mokhtar Al-Bukhary : Succesful Entrepreneur
Tan Sri Syed Mokhtar bin Al-Bukhary is the businessman and one of the notorious entrepreneurs. According to Forbes, Tan Sri Syed Mokhtar al-Bukhary has property and assets which amounting $1.45 billion dollars and become ninth richest’s person in Malaysia and 32th in South East Asia. Tan Sri Syed Mokhtar al-Bukhary is the only Muslim and Malay entrepreneur in Malaysia on the list of the top billionaire in Malaysia.
Tan Sri Syed Mokhtar bin Al-Bukhary was born on 1951 in Alor Star, Kedah. He’s the third son of 11 siblings. He received an early education in Alor Star but when he’s 9 years old, he was sent to his uncle, Syed Omar in Johor Bahru and received an education from standard 4 in primary school until Form 4 in secondary school. After that, he continues Form 5 in Saint Michael’s School at Alor Star. He didn’t continue his studies in university because of his family can’t afford him. He gains and learns about the business directly through the experiences since he was young. He’s started his career in business at 19 years old. His first business was sold meat. In 1972, he started his business in transportation after the permit has been approved. He used the lorry to start his business which is Syarikat Kenderaan Sentosa to transport rice. Syarikat Kenderaan Sentosa still exists till now. Then, he began to build a company. His first company is Syarikat Shah after he successfully got the contract to supply rice to FELDA, MARA Senama, Pernas Edar, Sergam Sdn. Bhd. Tan Sri Syed Mokhtar was a humble and very private person. He is not selfish to share the knowledge and experiences with others and inspired people in many ways and it’s the secrets of his success.
11.1 Proactive
Proactive is also one of the entrepreneurial traits which appointed by Tan Sri Syed Mokhtar Al-Bukhary. Proactive means being able to create or be able to control a situation by making things happened better than react to them after it has happened. To take as an example, when Tan Sri Syed Mokhtar Al-Bulkhary was young, he started helping his father in the business of cattle but in the years of 1970, his father’s business was declined because of the outbreak of disease at that time. By chance, he started to change his career path from selling meat to the business of transportation. So, he found an initiative by applying for the financial support from MARA to start the lorry’s business. Other than that, he managed to get the permit for the four trucks which known as Sentosa Vehicle Company in 1972.
He makes the right decision to apply for MARA’s support because he can use it as an asset to start the business and it will not give much burden to him later. To show the proactive trait, He continued to buy the new house under the agreement with UDA organization. He has established the Company Shah and applied for a license to gain the rice trade from BERNAS Corp. SDN BHD in 1975. He also tried to look from different point of views and he obtained the brilliant idea in his primary business, MMC Corporation Berhad which is one the largest shareholder of Gas Malaysia Berhad, within the three sub-divisions such as engineering and construction, energy and utilities, and infrastructure and airports.
As he has been proactive to make an offer of the port, soon he got the trust and confidence from shipping companies like Maersk Sealand from Denmark and Evergreen Marine from Taiwan.
11.2 Versatility
Tan Sri Syed Mokhtar Al Bukhary also was known as an entrepreneur that is characterized by versatile. He developed in various fields and tried to challenge himself in many business ventures. At the young age, he began to work in his father's business as a farmer. Next, he tried to engage in the business of transportation truck to transport the rice. He later expanded his business to other commodities, such as sugar and milk. Later, he moved into the field of clothing. He also involved in shipping, privatization projects and also involved in the business of real estate. His success in the exploration of various fields has made him known as a successful entrepreneur from the local who is the most versatile.
11.3 Visionary
Tan Sri Syed Mokhtar is also known as the visionary businessman and continues to develop his business in many areas. In 1974, he bought the first store under a hire purchase agreement with the City Development Corporation (UDA). The following year, he expanded his business empire to establish Shah Company as a supplier of rice to the FELDA, MARA Senama, Pernas Edar and Sergam Sdn. Bhd. He successfully obtained a license from the Board of Trade or Bernas Padi Negara. Tan Sri Syed Mokhtar said that the implementation of the New Economic Policy (NEP) by the government help his company in many ways to success.
Since then, his business continued to grow rapidly until he was awarded as one of the corporate leaders of the richest Bumiputera in Malaysia, thus gaining recognition from Malaysian Business as the 7th richest man in Malaysia in 2005 and the 50th richest in Malaysia in 2013 by Forbes recently.
Tan Sri Syed Mokhtar has been expanding his business empire with interests in the giant companies in Malaysia such as MMC Corporation Berhad, Port of Tanjung Pelepas, Bernas, Gardenia, DRB-Hicom, Bank Muamalat, Pernas, Malakoff Berhad, Johor Port Berhad and more , He is also known as a generous figure and humanitarian values that are exceptionally high. For example, he established the Islamic Arts Museum, Yayasan Al-Bukhary, Al-Bukhary International University, and also Al-Bukhary complex. Recently, this noble-hearted millionaire has built mosques in several districts in the state, besides in Alor Setar, Senai Airport, Johor and also in Jalan Pudu.
11.4 Observant
A successful entrepreneur and must be required to always observe the surroundings, After finishing school , Syeikh Mokhtar Al-Bukhary, helps his father to breed cattle but the business was bankrupt because of the foot and mouth disease. However, he took over and sold the meat, she went to Alor Star to buy unsold meat and he was successful in the business of selling meat.
In the vicinity of 80, Syed Mokhtar Al-Bukhary has been in the transportation business, His career began in the early 90s in Johor during Tan Sri Muhyiddin Yassin became the Chief Minister. He was very interested in the field management and port development. After that, He gets control as much as 90% on Seaport. Besides, he also success gets the big project when has given submission 30 years to build Pelabuhan Tanjung Pelepas (PTP). Seaport has 60% from the project PTP and he became the largest shareholder.
In the meantime, Sheikh Mokhtar is like creating a work to the public welfare, he founded the Foundation (Muslims) Al-Bukhary has been build and manage the Islamic Arts Museum, worth RM70 million in Kuala Lumpur. Most of the work of charity and benevolence was made around Perak and Kedah. Syed Mokhtar also owns Gulf Capital International Investment Group (GIIG) that has a stake in the Bakun Hydroelectric Project. Syed Mokhtar also has interests in a number of well-known companies, among which are Pernas, Maakoff, Corporatin Malaysia Mining Corporation Berhad (MMC), Johor Port Berhad, Johor Seaport Terminal Sdn. Bhd and more.
11.5 Open Risk Taker
As we know, an entrepreneur must be a brave man to take risks in business, Syed Mokhtar Al-Bukhary willingness to take risks in business. The first company founded by Syed Mokhtar is Bukhari Sdn. Bhd. The company supplies tea, rice, ghee, powdered milk and chocolate powder can be seen, he was willing to take risks in opening its plant.
He was a risk taker in all types of businesses. Syed Mokhtar had to take risks to develop its business by making loans to RM110,000 to buy two lorries Mercedes to launch its business in about 1972. He was bold enough to try a variety of businesses such as logistics, food, farming, producers and more.
In addition, he has been involved with the shipping business by establishing Bukhary Shipping and register with the Treasury. He also bought a German-made ship which was 28 years in the US$ 1 million dollars. The vessel was named Goose Mas and used to the transport for rice from Thailand to Sabah and Sarawak.
However, he suffered a loss and had to resell the ship valuable US$ 600,000 dollars. His losses were made of US$ 400,000 dollars. Syed Mokhtar had to take that risk in order to save his business. Besides that, he chose to give the ship is to reduce the cost of transportation. He was very willing to take a risk even if ultimately a failure.
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