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Robert Kuok Hock Nien's Personal Thoughts on Wealth and Capitalism Bahru

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Robert Kuok Hock Nien's Personal Thoughts on Wealth and Capitalism Bahru Robert Kuok Hock Nien's personal thoughts on wealth and capitalism http://singaporegirl.wordpress.com Bahru. Present were my MOTHER, cousin number five HOCK CHIN, Tan Sri Robert Kuok Hock Nien (born 6 October 1923, in Johor Bahru, cousin number twelve HOCK SENG, my brother HOCK KHEE nicknamed Johor), is an influential Malaysian Chinese businessman. According to Philip (a.k.a. cousin number seventeen), and myself (a.k.a. cousin Forbes his net worth is estimated to be around $10 billion on May number twenty). We sat down and Mother said, "Nien, would you like 2008, making him the richest person in Southeast Asia. to start?" I said, "Fine, yes I will start." To cut the long story short, we got started, and commenced business from a little shop house in He is media shy and discreet; most of his businesses are privately held Johore Bharu on 1 April 1949. by him or his family. Apart from a multitude of enterprises in Malaysia, his companies have investments in many countries throughout Asia. (4) As a young man, I thought there was no substitute for hard work His business interests range from sugarcane plantations (Perlis and thinking up good, honest business plans and, without respite, Plantations Bhd), sugar refinery, flour milling, animal feed, palm oil pushing them along. There will always be business on earth. Be and mining to finance, hotels, properties, trading and freight and humble; be straight; don't be crooked; don't take advantage of people. publishing. To be a successful businessman, I think you really need to brush all your senses every morning, just as you brush your teeth. I coined the On the occasion of Kuok Group's 60th Anniversary 10 April 2009, phrase "honing your senses" in business: your vision, hearing, sense of Robert Kuok Hock Nien's notes on those sixty years provide an smell, touch and taste. All these senses come in very useful. interesting insight in to how success comes about. 1) My brothers and I owe our upbringing completely to Mother. She (5) Mother was the captain of our ship. She saw and was steeped in Ru-Jiao, the teachings of Confucius, Mencius, Laozi and sensed everything, but being a wise person she didn't interfere. Yet other Chinese sages. Ru-Jiao teaches the correct behaviour for a she was the background influence, the glue that bound the Group human being on his life on earth. Mother gently, and sometimes together. She taught my cousins and my brothers and me never to be strongly, drummed into the minds of her three boys the values of greedy, and that in making money one could practise high morality. honesty, of never cheating, lying, stealing or envying other people She stressed that whenever the firm does well it should make their material wealth or physical attributes. donations to the charities operating in our societies. She always kept us focused on the big picture in business. For example: avoid 2) Father died on 25 December 1948 night without leaving a will. businesses that bring harm, destruction or grief to people. This Following the Japanese surrender, he had re-registered the firm as a includes trades like gambling, drugs, arms sales, loan-sharking and sole proprietorship. We went to court to get an appointment as prostitution. managers, permitting us to continue to manage Tong Seng & Co. The judge said that, as there were two widows, the firm and the estate should be wound up. (6) We started as little fish swimming in a bathtub. From there we went to a lake and now we are in the open seas. Today our businesses (3) We decided to establish Kuok Brothers Limited. In mid-January cover many industries and our operations are worldwide but this 1949, five of us met at a small roundtable in our home in Johore would not have been possible without the vision of the founding members, the dedicated contributions and loyalty of our colleagues success). But in the last thirty years of my business life, I have come to and employees, and very importantly the strong moral principles the conclusion that the reverse phrase is even truer of today's world: espoused by my mother. chenggong nai shibai zhi mu. Success often breeds failure, because it (7) When I hire staff I look for honest, hardworking, intelligent makes you arrogant, complacent and, therefore, lower your guard. people. When I look candidates in the eye, they must appear very (12) The way forward for this world is through capitalism. Even China honest to me. I do not look for MBAs or exceptional students. You has come to realise it. But it's equally true that capitalism, if allowed may hire a brilliant man, summa cum laude, first-class honours, but if to snowball along unchecked, can in many ways become destructive. his mind is not a fair one or if he has a warped attitude in life, does Capitalism needs to be inspected under a magnifying glass once a day, brilliance really matter? a super-magnifying glass once a week, and put through the cleaning machine once a month. (8) Among the first employees were Lau Teo Chin (Ee Wor), Kwok Chin In capitalism, man needs elements of ambition and greed to drive Luang (Ee Luang), Othman Samad (Kadir) and an Indian accountant him. But where does ambition end and greed take over? That's why I called Joachim who was a devout Roman Catholic and who travelled in say that capitalism, if left to its own devices, will snowball along, roll every day from Singapore where he lived. down the hill and cause a lot of damage. So a sound capitalist system (9) I would like on this special occasion to pay tribute to them and in requires very strongly led, enlightened, wise governments. That particular to those who were with us in the early days; many of whom means politician-statesmen willing to sacrifice their lives for the sake are no longer here. I have already mentioned Lau Teo Chin (Ee Wor) of their people. I don't mean politicians who are there for fame, glory and Kwok Chin Luang (Ee Luang) and Othman Samad (Kadir), there are and to line their pockets. others like Lean Chye Huat, who is not here today due to failing (13) To my mind the two great challenges facing China are the eyesight, and Yusuf Sharif who passed away in his home country India restoration of education in morals and the establishment of a rule of about one and a half years ago and the late Lee Siew Wah, and others law. You must begin from the root up, imbuing and infusing moral who all gave solid and unstinting support and devotion to the lessons and morality into youth, both at home and from kindergarten Company. It saddens me that in those early difficult years these and primary school upward through university. Every Chinese needs to pioneers did not enjoy significant and substantial rewards but such is accept the principle of rule of law; then you have to train upright the order of things and a most unfortunate aspect of capitalism. judges and lawyers to uphold the legal system. However through our Group and employee Foundations, today we are able to help their descendants whenever there is a need to. (14) Wealth should be used for two main purposes. One: for the generation of greater wealth; in other words, you continue to invest, (10) I have learnt that the success of a company must depend on the creating prosperity and jobs in the country. Two: part of your wealth unity of all its employees. We are all in the same boat rowing against should be applied to the betterment of mankind, either by acts of the current and tide and every able person must pull the oars to pure philanthropy or by investment in research and development move the boat forward. Also, we must relentlessly endeavour to along the frontiers of science, space, health care and so forth. maintain and practise the values of integrity and honesty, and eschew and reject greed and arrogance. Robert Kuok (11) A few words of caution to all businessmen and women. I recall the Chinese saying: shibai nai chenggong zhi mu (failure is the mother of .
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