".......Born on Feb 28,1918 in the Anxi district of Fujian Province, China, Lim worked as a carpenter with his uncle upon his arrival here, sold sundries and started a scrap metal business.
He set up Kien Huat Construc-tion in 1950, which remains his flagship private entity.
It was while working on a dam in Cameron Highlands in 1964 that he saw the possibility of developing a hill resort near to Kuala Lumpur.
By the age of 50, he had staked all his hard-earned money from iron mining, sub-contracting and hardware trading into realising his dream to build his hilltop holiday resort.
To share his dream, Lim invited a group of friends to be shareholders and directors of Genting.
“I asked them to invest RM1mil in return for a 10% stake in Gen-ting, which had a paid-up capital that was more than RM10mil. But none of them showed any interest,” wrote Lim in his autobiography.
In 1968, he founded Genting Bhd, which was granted the only casino licence by the Federal Government.
His leadership propelled Gen-ting to emerge as a blue chip on the stock market, diversifying into plantations, paper, oil and gas and power.
The company also transferred its gambling and resort related operations to its subsidiary, Resorts World Bhd, which remained cash rich even during the crippling 1997/98 Asian financial crisis.
He also acquired Star Cruises, offering casino gaming activities on board a fleet of cruise ships.
In the late 1990s, his children gradually took over the operations of the Genting Group due to his poor health. "
************************************************************************** "....Prime Minister Datuk Seri Abdullah Ahmad Badawi has described Tan Sri Lim Goh Tong’s death as a great loss to the country and all Malaysians. “He was an entrepreneur who truly persevered and had contributed to the economy in many fields. “He was also a renowned and recognised philanthropist,” said Abdullah, who extended his condolences to Lim’s family. “I will find time to visit his family,” he told reporters after handing over duit raya and hampers to 500 orphans from 14 orphanages at the Perak Mentri Besar’s residence yesterday. MIC president Datuk Seri S. Samy Vellu said the Genting Group founder was a good-hearted man who was very kind to the less fortunate. “He struggled hard to become what he was. He was a shining example for budding entrepreneurs,” he said yesterday. “There are many things people could learn from him. His death is a great loss to the business world. I express my condolences to his family.” Former MCA president Tun Dr Ling Liong Sik said he had lost a warm friend while the country had lost an illustrious son. Dr Ling said the Genting Group tycoon had not only helped built up the tourism industry in Malaysia but also promoted tourism in the world through Genting’s Star Cruises in Singapore, China, the Nordic region and United States. “He was an illustrious son of Malaysia who dared to take on the greatest of challenges. His determination, fortitude and courage enabled him to overcome huge challenges,” said Dr Ling. Dr Ling also credited Lim for his generosity in donating RM20mil to fund-raising for Universiti Tunku Abdul Rahman. Calling him a Malaysian legend, Gerakan acting president and Penang Chief Minister Tan Sri Dr Koh Tsu Koon said Lim was a classic example of the “rags to riches” story through hard work, discipline, devotion and business acumen. He said Lim was also a philanthropist with a caring heart. Federation of Chinese Associations of Malaysia president Tan Sri Lim Gait Tong said he had great respect for Lim’s sincerity in dealing with people and issues. “It was not easy to transform a high altitude location into a resort and casino, especially during the 1960s,” he said. "
Wednesday, October 24, 2007
