TAN SRI LIM GOH TONG

林梧桐
Lín Wútóng
(1918 – 23 October 2007)
GENTING Founder + the World's Billionaires

Age : 90

Fortune : Self made

Source : Gaming

Net Worth : US$4.3bil / RM14.6bil

3rd richest in the country
204th richest person in the billionaire
(according to Forbes Asia)

Citizenship : Malaysian

Residence : Kuala Lumpur , Malaysia, Asia & Australia

Industry : Gambling / Leisure

Marital Status : Married, 6 Children, 19 Grandchildren

Education : High School

Tan Sri died peacefully at 11.20am on 23 October 2007, at the Subang Jaya Medical Centre (SJMC) after a short illness, his grandson, Justin Leong, said by phone. He left behind his beloved wife Puan Sri Lee Kim Hua, and their six children, Lim Siew Lay, Siew Lian, Siew Kim, Tee Keong, Kok Thay and Chee Wah and 19 grandchildren.

Throughout his life Tan Sri had a few medical crises, among them were a malignant tumour and cardiovascular problems, which he pulled through after several surgeries. He who turned 90 in April this year,was the founder and honorary life president of Genting Group (www.genting.com).

Tan Sri Lim Goh Tong was a prominent wealthy Malaysian Chinese businessman.He was able to turned his idea from a unexpllored hilltop on the outskirts of Malaysia's capital city, Kuala Lumpur, into one of the world's most successful casino resorts.(www.genting.com.my) He created what is now Malaysia's eighth-largest listed company, with interests in gaming, hotels and cruise lines from the U.K. to Hong Kong.

Recently in December 2006, his company Genting beat rivals to win the project to develop a high-end gaming and entertainment resort on the Singaporean island of Sentosa even though it was the lowest bid $3.4 billion on the table. Plans for the resort include a Universal Studios theme park and a maritime museum. The group began 2007 by breaking into the Macau gaming market through a joint venture deal with the territory's gaming king, Stanley Ho.

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Tan Sri Lim Goh Tong was born in 1918 in Anxi, a mountainous county in southeastern Fujian province, China. He is the 5th child in his family. His dad is Lim Shi Quan and his mother Goh Ban. He has an elder brother, three elder sisters, a younger sister and a younger brother. He was named after the parasol tree, considered auspicious among Chinese, by his maternal grandfather, who hoped the name would bring him good fortune.

Tan Sri was born into a rustic environment in a village, during that time, China was in a period of turmoil and unrest after the Xinhai Revolution, but life was relatively sheltered for Lim in the village. He grew up peacefully and had the opportunity of studying in school. However, disaster struck and his father passed away when he was 16. Tan Sri was forced to leave school and being the oldest son, he had to take over the heavy burden of feeding his family.

He started out selling vegetable seeds in China, migrated from China's Fujian province in 1937 at the age of 19 with only a small suitcase and US$175. During the Japanese occupation of Malaya from 1941 to 1945, Tan Sri survived on vegetable farming and petty trading, before switching to dealing in hardware and scrap metal trading, on which he started to build his fortune. End of World War II, Lim benefited from the post-war reconstruction. He bought used machinery tendered after public projects were completed and sold them at higher prices.

Tan Sri, who didn't speak English and had no knowledge of engineering, also ventured into mining and construction. His experience ``and a little layman common sense'' helped him succeed, he wrote in his autobiography. He built Malaysia's only licensed casino, risking his life and facing bankruptcy along the way.

The idea of a hill resort was chanced upon by Tan Sri amidst the crisp air of Cameron Highlands in 1964. He was then working on a hydro-electric power project at the popular hill resort, patronised mostly by British colonials seeking cool refuge from the tropical heat, when he foresaw a prosperous Malaysia of the future desiring a cool mountain holiday resort within the reach of all Malaysians.

In his biography, Tan Sri wrote that the Genting project basically fitted his idea of an ideal business.There is noone was interested in it, which meant no competition. He took the plunge against all odds and held on steadfastly.

The tycoon spent seven years developing Genting, laying a road and building a hotel on a 1,800-meter (5,900-foot) hill outside the city. Failing to lure others to join, Tan Sri invested all his money in the project without getting any returns in the seven years it took to build.

During construction, he almost lost his life at least six times from falling trees, driving mishaps and a landslide. To date, Genting Highlands Resort has five hotels and two apartment blocks at the hilltop and Awana Genting Highlands Golf and Country Resort. Genting, which means ``atop the clouds'' in Mandarin, is a complex of hotels, themed casinos, amusement parks, shops and restaurants. The resort attracts more than 18 million visitors a year.

The company, founded in 1965, has since expanded and diversified from its initial hotel and resort activities to plantations, properties, paper manufacturing, power generation, oil and gas, electronic commerce and information technology development under Genting Group.

The Genting group is constructing Singapore's second gaming resort and includes Resorts World Bhd., which operates the casino in Malaysia. The combined stock market value of the assets, including interests in oil palm plantations and property, surpasses $22 billion, according to the company.

``Besides being a tremendous individual achievement, Tan Sri's success in developing Genting Highlands from virgin jungle into a world-class resort reflects Malaysia's economic progress in the last four decades,'' former Malaysian Prime Minister Mahathir Mohamad said in his foreword to the tycoon's biography. ``Even without the advantages of higher education, he has proven that nothing is impossible.''

The tycoon had won many awards together with his company Genting Group for his entrepreneurship and his contribution, among them were:

• Malaysian Entrepreneurs Award 1985
• Manager of the Year Award 1986
• Business Achiever of the Year Award 1994
• Number 1 ranking of 10 Malaysian Leading Companies 1996
• The Best Employer Award 1996

He was conferred the title "Tan Sri" by the government of Malaysia on 6 June 1979 in recognition to the contribution he has made to the country. Tan Sri had set up Yayasan Lim, a family foundation that donates regularly to educational and medical institutions, old folk's homes, various organisations for the physically handicapped and other charitable causes.

Besides Tan Sri Lim Goh Tong wrote his autobiography "My Story - Lim Goh Tong" and it was published in 2004. In the book he wrote about his early life, how he started off with nothing to building a world-class casino resort through hard work and perseverance confounding skeptics, and the people he acknowledges.

His contribution to Malaysia will always be remembered by all of us. Let us give ourselves a moment of silence as a prayer to Tan Sri Lim Goh Tong....