Billionaire tycoon Ananda Krishnan passes away — statement

KUALA LUMPUR (Nov 28): T Ananda Krishnan, a billionaire tycoon with an empire stretching from telecommunications to oil and gas, passed away on Thursday at the age of 86.

He passed on peacefully, according to a terse statement from his private vehicle Usaha Tegas Sdn Bhd. The family wishes to mourn in private, the company said in the three-sentence statement.

“He has made significant contributions to nation-building and the corporate world,” Usaha Tegas continued, “his philanthropic initiatives have touched many lives.”

Last ranked Malaysia’s sixth-richest man by Forbes with net worth of US$5.1 billion (RM22.66 billion), Ananda made most of his wealth during the 1980s and 1990s that made him closely associated with former prime minister Tun Dr Mahathir Mohamed. 

Ananda’s holdings include mobile network operator Maxis Bhd (KL:MAXIS), pay-television company Astro Malaysia Holdings Bhd (KL:ASTRO), and oilfield services firm Bumi Armada Bhd (KL:ARMADA).

Ananda shied away from the media spotlight for most of his life, even as his businesses grew.

He shuttled between Malaysia and France, where he spent most of his time with his wife. His only son is a Buddhist monk in Thailand, while his two daughters were not interested in taking over his businesses, according to media reports.

Astro Malaysia, founded by Ananda, expressed deep condolences following his death. His vision “went beyond creating a company,” Chief Executive Officer Euan Smith said in a statement. “He created a purpose.”

More to come