Ananda Krishnan

Tatparanandam Ananda Krishnan (Tamil: த. ஆனந்தகிருஷ்ணன்) (born 1 April 1938) is a Sri Lankan Malaysian businessman, the Chairman of Usaha Tegas Sdn Bhd[2] and founder of Yu Cai Foundation (YCF).[3] Nicknamed A.K., currently he is estimated to have a net worth of US$7.1 billion[4] according to Forbes' latest annual list of wealthiest people, making him the third-wealthiest in Malaysia and number 217 in the world.[5]

For the Indian film director, see Ananda Krishnan (director).

In this Indian name, the name Krishnan is a patronymic, and the person should be referred to by the given name, Tatparanandam Ananda.
Ananda Krishnan
த. ஆனந்தகிருஷ்ணன்
Born
Tatparanandam Ananda Krishnan

(1938-04-01) 1 April 1938
Brickfields, Kuala Lumpur, British Malaya
(modern-day Malaysia)
CitizenshipMalaysia
OccupationSole Shareholder & Chairman, PanOcean Management Ltd
Chairman, Usaha Tegas Sdn Bhd
Net worth $5.9 billion (2020)[1]
Children3

Ananda Krishnan shuns public exposure[6] and is known to maintain a low profile for a person of his stature.

The Central Bureau of Investigation of India sought arrest warrants for Ananda Krishnan for money laundering[7] and was involved with financing the controversial 1MDB.[8]

Biography

Ananda Krishnan was born in 1938 in Brickfields, Kuala Lumpur to Tamil parents, who were of Sri Lankan origin. He studied at Vivekananda Tamil School in Brickfields and furthered his studies at Victoria Institution, Kuala Lumpur. Later, as a Colombo Plan scholar, he attended the University of Melbourne, Australia for his B.A. (Honours) degree majoring in political science. During that time he boarded in the Melbourne suburb of Hawthorn. Following that, Krishnan obtained a Masters in Business Administration from Harvard Business School, graduating in 1964.[9]

Krishnan is a follower of Buddhism.

Krishnan has two daughters and a son who is also a Theravada Buddhist monk known as Ajahn Siripanyo.[10][11]

Entrepreneurship

Krishnan's first entrepreneurial venture was a Malaysian consultancy MAI Holdings Sdn Bhd. He set up Exoil Trading, which went on to purchase oil drilling concessions in various countries. Later, he moved into gambling (in Malaysia). In the early part of the 1990s, he started diversifying into the multimedia arena.

Currently, he has business interests in media (Astro, Johnston Press Plc), satellite (MEASAT, SES), oil and gas (Bumi Armada, Pexco), telecommunications (Maxis, Aircel, Axis, Sri Lanka Telecom). He owns stakes in Tanjong Public Limited Company, an investment holding company with subsidiaries involved in power generation (Powertek), gaming (Pan Malaysian Pools), leisure (tropical islands, TGV Cinemas) and property (67% Maxis Tower etc.).

Multimedia

Krishnan first came to prominence by helping to organise the Live Aid concert with Bob Geldof in the mid-1980s. In the early 1990s, he began building a multimedia empire that now includes two telecommunication companies—Maxis Communications, MEASAT Broadcast Network Systems and SES World Skies—and has three communication satellites circumnavigating the earth.

He effected the purchase of 46% of Maxis Communications, the country's largest cellular phone company, from América Móvil, AT&T Corporation, British Telecom, Belgacom, Ooredoo, Orange S.A. and Royal KPN N.V. for $1,180 million—raising his stake to 70%. Maxis has more than ten million subscribers, with around 40% market share in Malaysia. He also owns stakes in Aircel, Axis and Sri Lanka Telecom.

In an agreement between Astro and India's Sun Network, Krishnan plans to produce TV channels which cater to the Indian market, especially Tamil people in countries such as US, Western Europe and the Middle East. He also plans to offer TV services featuring Web-based interactivity. Ananda Krishnan owns stakes in TVB.com and the Shaw Brothers movie archives.

Philanthropy

Ananda Krishnan donates to education, the arts, sports and humanitarian causes in Malaysia through his company Usaha Tegas, and its subsidiaries.[12]

In 2003 Krishnan's Usaha Tegas launched the Harapan Nusantara education fund. Since 2004 the fund has sponsored 100 students a year to attend special programs at local private universities that collaborate with foreign universities.[13] In the same year the company also started the Yu Cai Education Foundation with a grant of $6.6 million to help ethnic Chinese groups.[14]

In 2006 Ananda Krishnan's media company Astro introduced its scholarship program, promising to devote an annual RM2 million to support promising Malaysian undergraduate and graduate students studying media and broadcasting.[15]

In 2008 he contributed to the opening of the Montfort Girls Centre to help orphaned and underprivileged girls develop their vocational skills.[16]

In 2010 Krishnan was featured on the Forbes list of 48 Heroes of Philanthropy.[17]

In January 2015 Ananda Krishnan and the Usaha Tegas Group launched the Yu Cai Foundation (YCF).[18] YCF provides student scholarships for Mandarin-based schools and grants to educational institutions which promote the study of vernacular languages, especially Mandarin and English.[19]

See also

References
  1. "Forbes List of Billionaires 2011". Forbes.
  2. www.bloomberg.com https://www.bloomberg.com/research/stocks/private/person.asp?personId=40175527&privcapId=45733736. Retrieved 11 November 2018. Missing or empty |title= (help)
  3. "Tycoon Ananda Krishnan, launches Yu Cai Foundation - The Malaysian Reserve". themalaysianreserve.com. Retrieved 11 November 2018.
  4. "Ananda Krishnan". Forbes. Retrieved 11 November 2018.
  5. "Ananda Krishnan". Forbes. Retrieved 11 November 2018.
  6. "Who is Ananda Krishnan?". Sundaytimes. 27 May 2007. Archived from the original on 13 May 2008. Retrieved 26 May 2008.
  7. Kanyakumari, D. (2 August 2016). "India's CBI seeks arrest warrants for Ananda Krishnan, three others". The Star. Retrieved 2 August 2016.
  8. "1MDB repays RM2b loan arranged by tycoon Ananda Krishnan". Malaysiakini. 18 April 2016. Retrieved 18 April 2016.
  9. "Ananda Krishnan". Forbes. Archived from the original on 18 May 2008. Retrieved 26 May 2008.
  10. "The monk who flew in a jet". Business Bhutan. 1 January 2011. Archived from the original on 20 July 2016. Retrieved 25 December 2015.
  11. Chow, Tan Sin (24 April 2012). "Ananda Krishnan makes time for son". The Star. Retrieved 25 December 2015.
  12. "Charitable tycoons". Focus Malaysia. Retrieved 12 November 2018.
  13. "Harapan Nusantara puts up RM100m to benefit Malay students - Nation | The Star Online". www.thestar.com.my. Retrieved 15 November 2018.
  14. Mertens, Brian. "Malaysia's Telecom Billionaire Gives Back". Forbes. Retrieved 15 November 2018.
  15. "Astro support for ad industry hailed - Community | The Star Online". www.thestar.com.my. Retrieved 15 November 2018.
  16. Mertens, Brian. "Malaysia's Telecom Billionaire Gives Back". Forbes. Retrieved 26 November 2018.
  17. Staff, Forbes. "In Pictures: 48 Heroes of Philanthropy". Forbes. Retrieved 4 December 2018.
  18. "Billionaire Ananda Krishnan in foundation to promote study of Mandarin and English - Business News | The Star Online". www.thestar.com.my. Retrieved 4 December 2018.
  19. "Tycoon Ananda Krishnan, launches Yu Cai Foundation - The Malaysian Reserve". themalaysianreserve.com. Retrieved 4 December 2018.
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