KUALA LUMPUR (Nov 28) – Malaysia bids farewell to one of its most influential business icons, Ananda Krishnan, who passed away peacefully yesterday at the age of 86. His private entity, Usaha Tegas Sdn Bhd, announced his demise, requesting privacy for the family during this difficult time.
Ananda, fondly referred to as “AK,” was Malaysia’s sixth-richest man, with a net worth of US$5.1 billion (RM22.66 billion), as reported by Forbes. A self-made billionaire, his empire spanned telecommunications, media, and energy, with flagship companies including Maxis Bhd, Astro Malaysia Holdings Bhd, and Bumi Armada Bhd.
Born on April 1, 1938, in Brickfields, Kuala Lumpur, Ananda’s journey began in oil trading. A Harvard MBA graduate, he played a pivotal role in establishing Petronas, Malaysia’s national oil corporation, in 1974. Under his visionary leadership, he transformed the Kuala Lumpur skyline by redeveloping a horse racing track into the iconic Kuala Lumpur City Centre (KLCC).
In the 1990s, he spearheaded Tanjong plc, diversifying into lotteries, power generation, and real estate. His companies, including Maxis, Astro, and Measat, cemented Malaysia’s reputation on the global stage. Despite his success, Ananda was known for his low-profile lifestyle, dividing his time between Malaysia and France with his wife.
His business empire, however, was not without controversy. In 2012, his firm Tanjong sold power assets to 1MDB for over RM8 billion, a deal scrutinized for its pricing. In 2015, he provided crucial financial support to 1MDB, preventing default on a RM2 billion loan. Later, he was implicated in a corruption case in India, though no charges were brought against him.
Ananda leaves behind a lasting legacy of innovation, philanthropy, and nation-building. His son, a Buddhist monk in Thailand, and two daughters, who stayed away from his businesses, reflect the private and spiritual dimensions of his life.
