Chinese are the unsung heroes of South East Asia: Robert Kuok Memoirs

https://youtu.be/oU0tz-3Uzeg

They are the most amazing economic ants on Earth, ‘Sugar King’ writes in memoir

 Good Chinese business management is second to none; the very best of Chinese management is without compare. I haven’t seen others come near to it in my 70year career. Robert Kuok

The overseas Chinese were the unsung heroes of the region, having helped to build South East Asia to what it is today, said Malaysian tycoon Robert Kuok (pic).

He said that it was the Chinese immigrants who tackled difficult task such as planting and tapping rubber, opening up tin mines, and ran small retail shops which eventually created a new economy around them.

"It was the Chinese who helped build up Southeast Asia. The Indians also played a big role, but the Chinese were the dominant force in helping to build the economy.

"They came very hungry and eager as immigrants, often barefooted and wearing only singlets and trousers. They would do any work available, as an honest income meant they could have food and shelter.

"I will concede that if they are totally penniless, they will do almost anything to get their first seed capital. But once they have some capital, they try very hard to rise above their past and advance their reputations as totally moral, ethical businessmen," Kuok said based on excerpts of his memoir reported in the South China Morning Post .

“Robert Kuok, A Memoir’ is set to be released in Malaysia on Dec 1.

Kuok said the Chinese immigrants were willing to work harder than anyone else and were willing to "eat bitterness", hence, were the most amazing economic ants on earth.

In the extracted memoir published by the South China Morning Post, Kuok, pointed out that if there were any businesses to be done on earth, one can be sure that a Chinese will be there.

"They will know whom to see, what to order, how best to save, how to make money. They don’t need expensive equipment or the trappings of office; they just deliver.

"I can tell you that Chinese businessmen compare notes every waking moment of their lives. There are no true weekends or holidays for them. That’s how they work. Every moment, they are listening, and they have skilfully developed in their own minds – each and every one of them – mental sieves to filter out rubbish and let through valuable information.

"Good Chinese business management is second to none; the very best of Chinese management is without compare. I haven’t seen others come near to it in my 70-year career," he said.

"They flourish without the national, political and financial sponsorship or backing of their host countries. In Southeast Asia, the Chinese are often maltreated and looked down upon. Whether you go to Malaysia, Sumatra or Java, the locals call you Cina – pronounced Chee-na – in a derogatory way," he said.

He added that the Chinese had no "fairy godmothers" financial backers.

"Yet, despite facing these odds, the overseas Chinese, through hard work, endeavour and business shrewdness, are able to produce profits of a type that no other ethnic group operating in the same environment could produce," he said.

Kuok ultimately attributed the Chinese survivability in Southeast Asia to its cultural strength.

"They knew what was right and what was wrong. Even the most uneducated Chinese, through family education, upbringing and social environment, understands the ingredients and consequences of behaviour such as refinement, humility, understatement, coarseness, bragging and arrogance," he said.


Related Links:

My mother and Mao, Singapore taxes and the rise of Hong Kong ...

In the debut instalment of six extracts from the first-ever memoir of Malaysian tycoon Robert Kuok, reproduced exclusively here, he recalls how ..

Malaysian train on wrong track, says tycoon Kuok in memoir | The ...

TYCOON Robert Kuok has released his autobiography in Hong Kong and ... (SCMP), which Kuok once owned, released excerpts of his memoir today. ... said he had known all of Malaysia's six prime ministers and shared how he ... Kuok, who is also ranked Malaysia's richest man, said first prime minister ...

I built MISC from scratch only to be told to sell by Tun Razak, says ...

Sugar rush: Memoirs of Robert Kuok sell out, SE Asia News & Top ...

Robert Kuok: Chinese the dominant force to build Southeast Asia ...

Shangri-La founder Robert Kuok's memoirs | Business Life, Lifestyle ...

Best 25+ Robert kuok ideas on Pinterest | Yachts and yachting, Luxury ..

Robert Kuok still rooted to Malaysia despite spending 40 years in ...

Robert Kuok slams cronyism, says Tunku never had cronies | Free ...

Robert Kuok's Daughter: “My Friends Had More Pocket Money Than..

For the love of mother and brother - So Aunty, So What?

Robert Kuok - Wikipedia

Kuok's business philosophy - theSundaily

 

  Malaysia-Singapore Airlines, Siamese twins set for separation: Robert Kuok

 

 

China’s communists, devils to friends for Malaysian PM Tunku

 

Genghis Khan, an inspiration at shipping line: the Robert Kuok memoirs

 

Chinese – the most amazing economic ants on eart

 Deng’s despair to rebirth under Xi (and why I bought SCMP): the Robert Kuok memoirs

 

From Deng's despair to rebirth under Xi - South China Morning Post

 

Robert Kuok pays tribute to Chinese immigrant workers of yore | The ...

Starting Malaysia's own shipping line - ASEAN/East Asia

Kuok: Ruthless Chinese also devastated many parts of SEA

Kuok recalls sweet memories

'Sugar King' Robert Kuok pens memoir

 

 

Related posts:

Robert Kuok is still top among 40 richest 

 

Succession issue: give children a message,not money

Different breed of entrepreneurs

Rich Malaysians get richer!

Will China's rise shape Malaysian Chinese comm unity?

Succession issue: give children a message,not money - Billionaire Kuok says empire can last generations 

Economic woes a test for South East Asia

Speculative attacks will challenge reserves, defences built after 1997/98

A man is silhouetted as he fishes near Northport in Klang outside Kuala Lumpur June 6, 2014. REUTERS/SAMSUL SAID

Southeast Asia has spent the best past of two decades shoring defenses against a repeat of the Asian financial crisis, including building up record foreign exchange reserves, yet is now feeling vulnerable to speculative attacks again.

Officials are growing increasingly concerned as souring sentiment has made currencies slide and investors reassess risk profiles in an environment where China is slowing and U.S. interest rates will rise at some point.

And while economists have long dismissed comparisons with the 1997/98 currency crisis, pointing to freer exchange rates, current-account surpluses, lower external debt and stricter oversight by regulators, lately there has been a change.

Malaysia and Indonesia, which export oil and other commodities to fuel China's factories, are looking vulnerable as the world's second-largest economy heads for its slowest growth in 25 years and the prices of their commodity exports plunge.

"We are worried about the contagion effect," Indonesian Finance Minister Bambang Brodjonegoro said last week, using a word widely used in 1997/98.

In 1997, "the thing happened first in Thailand through the baht, not the rupiah. But the contagion effect became widespread," he added.

Taimur Baig, Deutsche Bank's chief Asia economist, said that unlike 1997, when pegged currencies were attacked as over-valued, today's floating ones are "weakening willingly" in response to outflows.

But there can still be contagion, as markets lump together economies reliant on China or on commodities. "If you see a sell-off in Brazil, that can easily spread to Indonesia, which can spread to Malaysia, and so on," he said.

Foreign funds have sold a net $9.7 billion of stocks in Malaysia, Thailand and Indonesia this year, with the bourses in those three countries seeing Asia's largest net outflows, Nomura said on Oct. 2.

Baig said that as in 1997/98, falling currencies will naturally pose balance-sheet problems for companies with dollar debts and local-currency earnings.

This year, Malaysia's ringgit MYR= has fallen nearly 20 percent against the dollar and its reserves dropped by about the same percentage, to below $100 billion.

"It's almost like a perfect storm for Malaysia," the country's economic planning minister, Abdul Wahid Omar, said.

Malaysian officials insist the economic fundamentals are stronger than two decades ago, but some economists aren't sure.

Chua Hak Bin of Bank of America Merrill Lynch said he draws "little comfort" from comparisons with 1997. While in many ways Malaysia's economy is stronger now, for example by having a current account surplus, its external debt is 70 percent of gross domestic product, compared with 44 percent in 1997, and there's "significant downside risk even after the sharp ringgit correction".

None of the three main credit-rating agencies has downgraded Malaysia's creditworthiness in response to market ructions, but Moody's said in September the currency's fall was a symptom of declining exports and other factors negatively impacting key credit buffers.

SOURING SENTIMENT

Indonesia, Southeast Asia's largest economy, has a lower external debt relative to GDP - 32 percent – but foreigners also own a large share its local-currency bonds.

This makes the rupiah, down 13 percent against the dollar this year after jumping on Tuesday, vulnerable to souring sentiment.

"We are trying to differentiate ourselves from Malaysia," Indonesia's Brodjonegoro said. "At least we can get the inflows, we can still create positive sentiment."

At end-February, Indonesia's reserves topped $115.5 billion. On Sept. 21, they were $103 billion.

On Wednesday, the central banks of Indonesia and Malaysia are due to announce fresh reserve figures.

By months of import cover, Southeast Asia's holdings of foreign reserves still seem sufficient. But looking at them relative to overall foreign financing needs, they are more stretched.

Malaysia's reserves barely cover its short-term external debt due this year, while Deutsche Bank says Indonesia's are about 1.5 times what's needed to finance its debts and current-account deficit.

The Philippines, by contrast, has reserves equal to 11 times its financing needs. The $2 billion monthly remittances from its overseas workers provides a solid buffer.

BY NICHOLAS OWEN Reuters

Related post:

• A region evolves with rising

• The riddled Ringgit Malasia hits 17-year low again...

Top 10 universities in South East Asia, Malaysia not in!

Tweet

According to Webometric Ranking of World Universities, the Top 10 universities in South-East of Asia are:

1. NATIONAL UNIVERSITY OF SINGAPORE
2. NANYANG TECHNOLOGICAL UNIVERSITY , SINGAPORE
3. KASETSART UNIVERSITY , THAILAND
4. CHULALONGKORN UNIVERSITY , THAILAND
5. PRINCE OF SONGKLA UNIVERSITY , THAILAND
6. ASIAN INSTITUTE OF TECHNOLOGY , THAILAND
7. CHIANG MAI UNIVERSITY , THAILAND
8. THAMMASAT UNIVERSITY , THAILAND
9. ASSUMPTION UNIVERSITY OF THAILAND
10. KHON KAEN UNIVERSITY, THAILAND

Out of the top 10 ranking South East Asia universities, 2 are from Singapore , and the balance 8 universities are from Thailand . Also, on the Top 100 list, Thailand has 41 universities, Myanmar 18, Indonesia 14, the Philippines 13, and Singapore 7.

In Asia , the Top 10 universities are :

1. UNIVERSITY OF TOKYO
2. NATIONAL TAIWAN UNIVERSITY
3. KYOTO UNIVERSITY
4. BEIJING UNIVERSITY
5. KEIO UNIVERSITY
6. NATIONAL UNIVERSITY OF SINGAPORE
7. UNIVERSITY OF HONG KONG
8. CHINESE UNIVERSITY OF HONG KONG
9. NATIONAL CHIAO TUNG UNIVERSITY
10. NAGOYA UNIVERSITY

Out of the Top 10 ranking universities in ASIA, 4 are from Japan, 5 are from China, and the remaining 1 is from Singapore . We are also nowhere near the Top 100 universities in Asia . In terms of Global Ranking, None of Malaysia 's universities are anywhere near the TOP 1000 universities.


Well, the fact speaks for itself ! Thailand, Myanmar, Indonesia, Philippines, and Singapore are way ahead of Malaysia . Despite all our constant shouting of Malaysia boleh this and that, and all the emotional rhetoric of shiok sendiri and self denials, we are already an academic backwaters nation in South East Asia , we shake our heads...

We have always personally railed against Man's dependency on numeric evidence as proof of superiority but before we get too ahead with this argument, let us explain. 'Numeric evidence' means the use of numbers to represent one's status. If you have $500,000 and I have $100, you are wealthier than I or so the numeric evidence suggests. If you have a 5-litre engine motorcar, it is definitely a better car than my 1.6-litre car or so the numeric evidence suggests. If you have 10 titles bestowed on your life by the Sultan and the King, you are most assuredly a better person than most of us are. And so it goes that if a student scores an exemplary number of distinctions (A's in Malaysia ) in a public exam, he/she is considered the pinnacle of what the country's education system is capable of producing. He/she is expected to go through tertiary education anywhere in the world with flushing success. So what could possibly have happened if she fails abroad? Malaysia‘s education system has always been a laughing stock. Based purely on numeric superiority and mindless rote learning methods that even the British has long abandoned decades earlier, Malaysia continues to believe that the more A's a student attains, the better equipped he/she is. It doesn't matter how he/she gets the A's so long as the aim is to get them and get as many in the process. So if the student were to labour over numerous past year exam papers in the library, memorise the answers and focus only on what the teacher 'suggests' are likely to come out for the exam, that's alright by everyone. The education system doesn't teach the students to UNDERSTAND the material. It doesn't encourage proactive teaching methods that encourage students to discover knowledge but to merely be taught. When a student with 17 Distinctions fail in the real world, it is not a surprise. Perhaps it is to many Malaysians, but it's a system that is waiting to reward its students with spectacular failure when they leave the shores and compete overseas or when they enter the workforce. Many organisations in the private sector have continued to be horrified at the performance of such students during interviews. Communication skills are absent. Standard ethics are absent. Common courtesy codes are absent. Presentation skills as well as personal grooming are absent. What has the education system taught them? If Malaysia continue to embark on the road of plain numeric superiority instead of to challenge the students to think, provoke them to create their own opinions and to communicate expressively, to eloquently define their standing in the world, there can never be an international leader in any field or industry emanating from Malaysia. It never produced one in the last 20 years. It never will for the next 100 years.    FRIDAY, JULY 24, 2009 The Failure of Nur Amalina (who scored 17As) I was really shocked and speechless to be informed about Nur Amalina Che Bakri. Nur Amalina had held briefly the record of the most A's scored in the Sijil Pelajaran Malaysia. Upon the announcement of results of SPM 2004 on 26 March 2005, she received 17 1As - a record for number of A's received by a student in the history of Malaysian education back then. She was sponsored by Bank Negara Malaysia to study medicine in the United Kingdom, and did her A-levels at the Cheltenham Ladies College in the UK. Now I am informed that she had failed her second year medical study at the University of Edinburgh . I really hope this is not true......if it is, what went wrong? Could English language be the problem? We are going back to Malay medium again and that means trouble. God, please save Malaysia...! "Life is a bunch of experiences and I am going to make it as incredible as possible" Food for Thought: Top 10 universities in South-East of Asia ..!  Is it English?