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Ananda Krishnan

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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 a/l Krishnan

(1938-04-01)1 April 1938
Brickfields, Kuala Lumpur, Selangor, British Malaya
Died28 November 2024(2024-11-28) (aged 86)
Swiss Alps, Switzerland
CitizenshipMalaysia
Education
OccupationEntrepreneur
Title
Children3

Tatparanandam Ananda Krishnan (1 April 1938 – 28 November 2024), also known by the initialism A. K., was a Malaysian entrepreneur who was a founder and chairperson of Usaha Tegas[1] and founder of Yu Cai Foundation (YCF).[2]

At the time of his death, he was estimated to have a net worth of US$5.1 billion[3] according to Forbes making him the 671th wealthiest person in the world and 3rd richest in Malaysia.[4] Ananda Krishnan shunned public exposure[5] and was known to maintain a low profile for a person of his stature.

Early life and education

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Ananda Krishnan was born on 1 April 1938 in Brickfields, Kuala Lumpur and has his roots in Jaffna, Sri Lanka. 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 Master of Business Administration from Harvard Business School, graduating in 1964.[6]

Krishnan was a follower of Buddhism and had three children, two daughters and a son. His only son, Ven Ajahn Siripanyo is a Theravada Buddhist monk.[7][8]

Contrary to many misconceptions, Ananda Krishnan was not awarded any federal or honorific titles.[9]

Career

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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.[10] Later, he moved into gambling (in Malaysia). In the early part of the 1990s, he started diversifying into the multimedia arena.

He had business interests in media (Astro), satellite (MEASAT), oil and gas (Bumi Armada, Pexco), telecommunications (Maxis, Sri Lanka Telecom). He owned stakes in Tanjong Public Limited Company, an investment holding company with subsidiaries involved in leisure (TGV Cinemas) and property (67% Maxis Tower etc.).

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 owned a stake in Sri Lanka Telecom.

In an agreement between Astro and India's Sun Network, Krishnan planned 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 planned to offer TV services featuring Web-based interactivity. Ananda Krishnan owned stakes in TVB.com and the Shaw Brothers movie archives.

Death

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Krishnan died of natural causes in Swiss Alps on 28 November 2024, at the age of 86.[11][12]

Philanthropy

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Ananda Krishnan donated to education, the arts, sports and humanitarian causes in Malaysia through his company Usaha Tegas, and its subsidiaries.[13]

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.[14] 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.[15]

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.[16]

In 2008, he contributed to the opening of the Montfort Girls Centre to help orphaned and underprivileged girls develop their vocational skills.[17]

In 2010, Krishnan was featured on the Forbes list of 48 Heroes of Philanthropy.[18]

In January 2015, Ananda Krishnan and the Usaha Tegas Group launched the Yu Cai Foundation (YCF).[19] YCF provides student scholarships for Mandarin-based schools and grants to educational institutions which promote the study of vernacular languages, especially Mandarin and English.[20]

See also

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References

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  1. ^ "Stocks". www.bloomberg.com. Retrieved 11 November 2018.
  2. ^ "Tycoon Ananda Krishnan, launches Yu Cai Foundation - The Malaysian Reserve". themalaysianreserve.com. 31 March 2017. Retrieved 11 November 2018.
  3. ^ "Forbes Profile: Ananda Krishnan". Forbes. Retrieved 28 November 2024.
  4. ^ Reporters, F. M. T. (28 November 2024). "Tycoon Ananda Krishnan dies, aged 86". Free Malaysia Today | FMT. Retrieved 29 November 2024.
  5. ^ "Who was Ananda Krishnan?". Sundaytimes. 27 May 2007. Archived from the original on 13 May 2008. Retrieved 26 May 2008.
  6. ^ "Ananda Krishnan". Forbes. Archived from the original on 18 May 2008. Retrieved 26 May 2008.
  7. ^ "The monk who flew in a jet". Business Bhutan. 1 January 2011. Archived from the original on 20 July 2016. Retrieved 25 December 2015.
  8. ^ Chow, Tan Sin (24 April 2012). "Ananda Krishnan makes time for son". The Star. Retrieved 25 December 2015.
  9. ^ https://www.istiadat.gov.my/semakan-penerima-darjah-kebesaran-bintang-dan-pingat/
  10. ^ "Meet Malaysia's richest Indian, boasting a net worth of ₹45,339 crore and owning three communication satellites". The Times of India. 16 September 2024. ISSN 0971-8257. Retrieved 20 October 2024.
  11. ^ Ananda Krishnan Passes Away at 86
  12. ^ [1]
  13. ^ "Charitable tycoons". Focus Malaysia. Retrieved 12 November 2018.
  14. ^ "Harapan Nusantara puts up RM100m to benefit Malay students - Nation | The Star Online". www.thestar.com.my. Retrieved 15 November 2018.
  15. ^ Mertens, Brian. "Malaysia's Telecom Billionaire Gives Back". Forbes. Retrieved 15 November 2018.
  16. ^ "Astro support for ad industry hailed - Community | The Star Online". www.thestar.com.my. Retrieved 15 November 2018.
  17. ^ Mertens, Brian. "Malaysia's Telecom Billionaire Gives Back". Forbes. Retrieved 26 November 2018.
  18. ^ Staff, Forbes. "In Pictures: 48 Heroes of Philanthropy". Forbes. Retrieved 4 December 2018.
  19. ^ "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.
  20. ^ "Tycoon Ananda Krishnan, launches Yu Cai Foundation Noob - The Malaysian Reserve". themalaysianreserve.com. 31 March 2017. Retrieved 4 December 2018.
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