HE stock market loves movers new year will not only illustrate how he handles and shakers, be they companies or all the companies he has gained control of, but individuals, whose manoeuvres also whether he will have the appetite for more, have an impact on stock prices. as some observers believe he will. In 2004, there was no dearth of Also on our watch list are people like Tun such news-makers. The DRB- Daim Zainuddin, primarily for his banking HicoTm Bhd saga, the reformation of forays overseas, Tan Sri Halim Saad, who could government-linked companies (GLCs) and the be making a comeback to corporate , drive to make Khazanah Nasional Bhd a and Datuk Ahmad Kabeer Nagoor, who is regional investment player all contributed to reportedly one of the largest private equity an exciting environment. investors in the country. Will 2005 be as stimulating? That's anyone's Personalities aside, the proposed listing of guess. But here we provide you some guidance Bursa Malaysia Bhd signals a new phase in on people and companies that would most the Malaysian capital market, while Khazanah, likely provide the sparks this year. already busy trying to master the revamp of Take the case of Tan Sri Syed Mokhtar Al- GLCs, is trying hard to make successful Bukhary. After winning so many deals in 2004, investments out of Malaysia. Malaysian market observers thought he would have had Business takes a look at these individuals and his hands full. But in a twist to the DRB-Hicom companies. (Please note that the stories share tussle, Syed Mokhtar won yet again. The appear in no particular order of importance.)

MALAYSIAN BUSINESS JANUARY 1, 2005 19 PEOPLE TO WATCH

TUN DAIM ZAINUDDIN GROWING HIS BANKS

IT COMES as no surprise that a former government. Leaving government did not finance minister chooses to spend mean he could cash in either, as he received productive life outside office making no favours as far as banking licences were money. And what surer way to make concerned. money than owning a bank, or banks. The Daim set his sights overseas - the former man once entrusted with the keys to the Soviet satellite states as well as in deepest Treasury is now a banker with his imprint Africa. With his business savvy, an eye lor well beyond national borders. opportunity and his lawyer's skill in closing Tun Daim Zainuddin, an extraordinarily a deal, Daim is where he is today, media-shy man, is without doubt revelling comfortably ensconced among the icons of in the freedom now that he is no longer in the banking fraternity. government. By all accounts, he would It remains to be seen if his characteristic have preferred to have remained out of aloofness will work for or against him. He government during what would have been will always be remembered for fobbing off the most productive part of his life. But questions regarding his role on the local duty beckoned when he was persuaded to bourse by saying his foray into the market take over the reigns of the finance ministry, was nothing significant. each time steering and steadying the Daim's focus in 2005 therefore will rudder of a ship sailing through turbulent continue to be on growing his banking economic seas. business in this region. No one should Tt was a task that required sacrifices as discount his canny ability to beat the Daim had to relinquish his lucrative bank odds and become a major player holdings, those that were held in his abroad. personal capacity, that is, while serving in - By Abdul Razak Chik

TAN SRI SYED MOKHTAR AL-BUKHARY MYSTERIOUS NO MORE?

EMERGING as the winner in the widely acquisition agreement, he seems to be publicised DRB-Hicom saga, Tan Sri Syed eyeing another,' says a local analyst. 'Don't Mokhtar Al-Bukhary can now add an be surprised that the DRB-Hicom automotive division to his corporate purchase is just the beginning of another empire. Hitherto very much low profile, corporate manoeuvre.' the event has thrust him to the forefront Perhaps in the coming months, we can of the news. With the victory, many expect expect Syed Mokhtar to revive some of him to post a new, more open, public his old ideas, such as the double-tracking persona. or aluminium smelter project. Currently, Yet, not all analysts are of that opinion. he controls a fast moving port, an airport, Some expect Syed Mokhtar, 54, to remain a hotel chain, plantation companies and as elusive as ever and among the least construction firms. likeliest people to be seen in public. Perhaps, with his finger now firmly on Whatever it is, it's pretty sure Syed the DRB-Hicom pie, Syed Mokhtar may Mokhtar's corporate forays will not be cast a still wider net on the corporate scene. over. 'Even before the ink dries on one - By Clarence Y K Ngui

20 MALAYSIAN BUSINESS JANUARY 1, 2005 TAN SRI SM NASIMUDDIN to capitalise on the burgeoning managed SM AMIN services market, especially the business LIFE AFTER THE SAGA process outsourcing (BPO) sector. Symphony recently received shareholder approval to increase its stake in Vsource ONE of the merits of operating a private Asia from 30.34% to 91.5%. Vsource has limited company is that one is beholden strong presence within the regional BPO to a private band of shareholders and is market, with operations in Malaysia, thus without the need to satisfy the public Taiwan and Japan. In December 2004, it thirst for information. sealed a US$5 million deal with Avaya So when Tan Sri SM Nasimuddin SM Malaysia to strengthen its IT infrastructure Amin and his associates made a public to retain competitiveness. bid for a substantial share of DRB-Hicom How important is the BPO market to recently, the man widely envied as the Azman? According to recent estimates by AP King' (for his seemingly effortless Assocham-IDC, the market is expected to success in securing unlimited Approved reach US$1 trillion by 2006. Not Permits, the licence required for surprisingly, insiders indicate that Azman imports), things looked set to change. didn't hesitate to defer Symphony's main For one, there would be a lot more board listing to ensure the Vsource deal got information in the public domain, which through. Now that it is sealed and done, could help point to the private wealth of expect Symphony to be a main board the Nasimuddin family. DATUK AZMAN YAHYA company by the second quarter of the year. It is not known how much that wealth GOING FOR THE BIG STAKES There are also strong indications that would have burgeoned to had his effort to Azman will he moving into the retail sector secure the DRB-Hicom stake been DATUK Azman Yahya is one of those soon. 'Talks are underway with a foreign successful, but one can easily guess that it businessmen who are never quite out of company,' says one industry insider. would be quite substantial. the limelight. Right from his days as Details about the deal are however hazy at That battle had corporate Malaysia agog. managing director of Pengurusan the moment. Even so, the fact that Azman The fight for control of the diversified Danaharta Nasional Bhd, Azman, 40, has is moving into the retail scene after having conglomerate - through a slightly more been a pivotal player in the Malaysian made a strong imprint on the IT and share than 15% strategic stake - provided plenty corporate scene. His decision to move into services market indicates that the part- of excitement as the year drew to a close. the private sector in May 2002 and list his time racing driver has still not finished It caused the limelight to be focused on all corporate vehicle, Symphony House Bhd, revving up the local corporate scene. the players - none more so than on the Mesdaq market in February 2003 -By S Jai Shankar Nasimuddin. further piqued media interest in him. Feted by some, jealously (but quietly) Since then, the ex-investment banker envied by many, Nasimuddin is has moved shrewdly, ensuring Symphony largely seen as the epitome of remains on the radar screen of most assertive action. He had analysts. The announcement in early 2004 connections, of that there is no that Azman wanted to list the company on doubt. This brought him the Bursa Malaysia's main board - an monopolistic ability to import unprecedented move for a Mesdaq and sell them on a commercially company - intensified speculation on the viable scale. man and the company. The rationale is that He had business savvy too, and surely this corporate whiz kid who is not foresight, and a vision to match. only the former chairman of Danaharta but Knowing that selling imported cars also sits on the boards of at least eight listed alone would be akin to putting all companies, will not be contented to play his eggs in one basket, Nasimuddin for small stakes. sought out the South Koreans to Perhaps the hunch is well placed. For become his partner and produce the one thing, the London School of Kia brand locally. Economics graduate has moved strongly Having his ambition to buy the DRB-Hicom stake thwarted, where does that leave Nasimuddin in

MALAYSIAN BUSINESS JANUARY 1, 2005 21 PEOPLE TO WATCH

2005? He may have learnt that nothing is sewn up until it is sewn up. But Nasimuddin is not one to run away with his tail between his legs. As it is, he has a number of high-profile projects of national significance that TAN Sri Vincent Tan Chee Yioun, 52, may will see him remaining the focus of see his Berjaya Group fast expanding in the attention on the 'national stage in telecommunications, pay-TV as well as 2005. His car assembly plant project automotive sectors in 2005. Hailed as in Gurun, Kedah is an important Fiabci Malaysia's 2004 Property Man of component in the group's move the Year, Tan continues to juggle a diverse 'upstream' in the automotive spectrum of activities. industry. He will continue to be the 'Tan is man of mystery,' says a local chief source of imported vehicles of analyst of Tan's corporate manoeuvrings. superior standing as no one as yet has 'But he is also a man of many distinctions, shown that level of mastery and especially in turning around companies aptitude in the field. from the darkest depths of losses to great - By Abdul Razak Chik profitability.' For 2005, most analysts believe Tan will continue to wave his magic

DATUK TAN TEONG HEAN TAKING ON THE BIG BOYS

DATUK Tan Teong Hean, 61, has steered seeking efficiency all the time. For 2005, it would be interesting to see Southern Bank Bhd from Malaysia's This includes striking up deals with how Tan helms the group, what with the second smallest bank to a rather international organisations such as credit- new Bumiputera equity which includes a formidable banking group, the sixth, card operators JCB and MasterCard stake by the Selangor royal family, and largest. Today the bank controls a niche International, and insurance giant AIG intensified competition in a liberalised segment of SME-financing, unit trusts and Insurance Group, as well as institutions banking environment. Would Southern credit cards. , such as the Women's Institute of Bank be routed by its more powerful In 2005, it will not be surprising if Management. 'Tan's ideas of strategic competitors? Also important is bow Southern Bank emerges as among the partnership make Southern Bank stand Southern Bank and Tan gear themselves country's fastest growing banks in terms apart from its competitors,' says the for the much expected second round of of credit card applications and unit trusts. analyst. banking mergers. The bank is currently second only to - By Clarence Y K Ngui Maybank in terms of credit card subscribers, and second to Public Mutual Fund in terms of fund size. Perhaps by the end of 2005, Southern Bank will surpass DATUK AK NATHAN them. LOOKING ABROAD IS THE KEY Yet, what makes Tan unique among Malaysian bankers is his astute business DO NOT judge a book by its cover. As sense. He seems comfortable with unassuming and soft-spoken as he maybe, Southern Bank's current position and its Datuk AK Nathan, 47, is no pushover. In mid-size. 'Being small does not mean we the past 20 years, his Eversendai are not efficient,' he once told Malaysian Engineering Group has stamped its mark Business. on just about every major landmark 'Southern Bank prides itself in being lean structure in Malaysia. and mean,' says an analyst. This, he As any businessman will tell you, believes, allows the bank to remain building a successful company is no easy profitable even during times of crisis and feat and it has been no different for Nathan, economic downturns. Being small compels who is Eversendai's group managing Southern Bank to be on its toes constantly, director. He says he had to learn everything the hard way.

22 MALAYSIAN BUSINESS JANUARY 1, 2005 TAN SRI VINCENT TAN CHEE YIOUN CARVING OUT A MEDIA EMPIRE

wand on three major companies: DiGi.com While currently the smallest cellular phone Bhd, MiTV Corporation Sdn Bhd and operator in Malaysia, DiGi has the fastest- Hyundai-Berjaya Bhd. growing subscriber base. In his ongoing pay-TV venture, perhaps Interestingly too, Tan is fast carving a Tan will emerge as a credible rival to new division in the automotive sector Ananda Krishnan. 'He is optimistic in with the manufacturing, assembly and carving out a new media empire as the distribution of Hyundai and Inokom second pay-TV operator in Malaysia,' says lines of vehicles. Hyundai, with its an analyst. With the promise of a suite of popular Atoz, Getz and Matrix models, at least 50 channels and some basic were among the fastest-growing brands interactive services, Malaysians certainly in terms of sales in Malaysia in 2004. await his big splash into the sector. Certainly, there is more to come from The new year may also see Tan pushing Tan. ahead in the telco wars with his DiGi.com - By Clarence Y K Ngui

When Nathan was 15, his father, a lucrative construction contracts. He also newspaper agent, sent him to India for pre- intends to list his company in a couple of KEVIN LEONG university studies. But he had to return years. THE MAN WITH THE home due to financial constraints six years The Eversendai group is involved in the MAGIC BOX later in 1979. He then started work as an supply, fabrication and erection of steel apprentice at a printing press but later quit structures for high-rise buildings as well AT 36, Kevin Leong Kong Hoy is one to become an insurance agent 'where I as low-rises such as stadiums and of the youngest CEOs of a Mesdaq- learnt a lot about people and sale pitches'. shopping malls. In fact, the company has listed company. His drive and Today, Eversendai, established in the built a name for itself for being able to dynamism drove MoBif Bhd to a early 1980s, is known in Malaysia and finish jobs within the stipulated period successful listing exercise in May abroad, especially the Middle East, for its without compromising on quality or safety. 2004, rising rapidly to become one of structural steel works. The company Nathan says by venturing abroad, the top 10 stocks on the exchange. records a revenue of between RM100 Malaysian construction companies would Originally an Internet-based million and RM150 million annually. be able to export their expertise and earn surveillance solutions player, the Nathan is not resting on his laurels. He foreign exchange. He feels Malaysia's company is now turning towards has plans to capture the Gulf region's construction industry has come of age and Voice-over-Internet Protocol (VoIP) is able to compete with leading players in to boost its profit margins. In early the international field. 2004, Kevin assembled a team of Besides contracts in the United Arab software engineers to develop its own Emirates, Qatar and Saudi Arabia, VoIP solution by investing RM2 Eversendai has also completed structural million. He gave them two years to steel-related jobs in Malaysia, Singapore, complete the project. But the team India, Indonesia, the Philippines and Hong surprised him by completing within Kong. nine months. Since then, it has been At present, Eversendai has ongoing a roller-coaster ride for the projects totalling RM150 million in the entrepreneur from Ayer Itam, Middle East. Its latest contracts include the Penang. supply, fabrication and erection of The MoBif TA 200 is actually a structural steel works for the 1km long telephone adaptor and Internet router Chinatown International City Mall in rolled into one. It uses broadband and Dubai, the United Arab Emirates. VoIP to provide ultra cheap phone On the local front, Eversendai's ongoing calls anytime of the day. These days, projects are valued at RM225 million. The Leong keeps himself busy by group has a workforce of 1,500 worldwide. travelling, taking quick and easy - By Seelen Sakran

MALAYSIAN BUSINESS JANUARY 1, 2005 PEOPLE TO WATCH

orders for the TA 200. 'It is not difficult to sell,' he boasts, saying he has sold 40,000 units of the device DATUK AHMAD locally as well as in China and KABEER NAGOOR Australia. MAN WITH THE MIDAS TOUCH He also claims to have achieved his business target for 2005 and is now DATUK Ahmad Kabeer Nagoor, 47, is one preparing for 2006! For the first half personality who will be hard to ignore. He of 2004, MoBif recorded a revenue of is reported to be one of the largest private RM9.2 million. Kevin estimates that equity investors locally via his vehicles K- by end-2004, he would have doubled Capital Sdn Bhd and AKN Capital Sdn it to reach RM18 million. This year, Bhd. its earnings could triple, thanks to the We listed him as a man to watch in rising demand for the TA 200. MORTEN LUNDAL 2004. This year, he makes the cut again Kevin, son of a former shipping HELPING THE UNDERDOG on our list, as his business empire appears clerk, saw the value of being focused to be growing rapidly. So far there are no and planning ahead when his father NORWEGIAN Morten Lundal, 39, is signs that he intends to slow down this was unexpectedly retrenched in 1989, expected to become a familiar face in year. On the contrary, he is spreading his which plunged the family into a deep Malaysia's telco industry. He replaced wings, not just locally but across the financial crisis. Kevin's parents fellow Norwegian Tore Johnsen in mid- region as well, reaching China and decided to stop the education of his 2004 to head DiGi.com Bhd, the telco often Indonesia. two sisters and took up odd jobs to described as the 'nimble other player' in Ahmad Kabeer has one listed company make ends meet. the market. on Bursa Malaysia's main board, AKN However, as is typical in some It will be a challenge to fill Johnsen's Technology Bhd (AKN); another on the Chinese families, the boys, Kevin and shoes. Johnsen helped DiGi take on its second board, AWC Facility Solutions Les Leong, were allowed to continue bigger rivals, Maxis Communications Bhd Bhd; and two companies on the Mesdaq their studies. Kevin went on to pursue and the Telekom group, with innovative market, MEMS Technology Bhd (MEMS) a Diploma in Electrical Engineering pricing and packages. Under him, DiGi's and AKN Messaging Technologies (AKN at the Tunku Abdul Rahman College. market share gew from 16% to 21%. MTech) Bhd. His passion was computer Now Lundal plans to take that further. By anyone's standards, four listed programming languages, especially He's already announced a four-pronged companies would have been sufficient to the low level and difficult assembly strategy: marketing smartness, operational take it easy. But not Ahmad Kabeer. All language. excellence, organisational effectiveness his listed concerns are making money and After graduation in 1989, he took and creating a value-based management. have a healthy cash position. on a job at Intel in Penang as an Lundal is well aware that his company He took MEMS to listing and turned equipment engineer. In 1991, he cannot afford to outspend its competitors, around the company to report a modest pursued postgraduate studies in the who have deeper pockets, but he's relishing profit of RM8.2 million for the year ended United Kingdom. 'When I returned in the fight. 'Challenging the two incumbents July 31, 2004. The previous year, MEMS 1993, five job offers came my way,' he is more fun than to be one of them,' made a loss of RM0.9 million. says. He took up the Seagate offer and quipped Lundal in a recent interview with In the second half of 2004, this former rose through the ranks to become the the media. Universiti Sains Malaysia lecturer youngest director of Seagate Penang In the short time Lundal has been in expanded to China and Indonesia. AKN at age 28. He made his money via Malaysia, he has already made his mark. MTech, whose core business is messaging Seagate's stock options, which ran into He has implemented an open-office solutions, bought into a messaging millions. concept, making him perhaps the only technology company in China, Beijing Today, Kevin 'pays' for his sisters' chief executive in the country without a Chinawire Communications Information sacrifices by employing them in designated office or desk. With the tearing Technology Co Ltd (BCCIT), for about MoBif. His brother Les also works down of walls and doors on the floor RM20.4 million. But while it has a 50% with him. where the office of the DiGi.com head stake in BCCIT, it has no controlling Kevin is man to watch in 2005, say used to be, Lundal hopes to send a strong power. analysts. His magic VoIP box will soon message: that DiGi.com will remain a AKN MTech also ventured into lead the company to sit on a neat cash dynamic force in the industry. Indonesia and is now concluding its pile. Will 'David' outdo 'Goliath' in the war of purchase of PT Surya Genta Perkasa - By Prathaban V the telco industry? (Mobiltren). The deal will give AKN - By Gurmeet Kaur

24 MALAYSIAN BUSINESS JANUARY 1, 2005 DATIN ALICIA TIAH HOLDING HER OWN

DEMURE and stylish, TA Enterprise Bhd's executive chairman Datin Alicia Tiah, also known as Tan Kuay Fong, has held her own in a male-dominated world. Although hubby Datuk Tony Tiah, who stepped down as executive chairman in May 2002, is often presumed to be a directive force as major shareholder, Tan fills his seat rather comfortably. While Tan, 54, has been head honcho for the past two-and-a-half years, she's definitely become more high-profiled in the media of late. There was, of course, the near sale of the group's stockbroking operations to CIMB Bhd that grabbed the limelight in the first half of last year. When that fell through, Tan resolutely set about to reengineer the business and fast-track its merger exercise to attain the elusive Universal Broker (UB) status. Then she embarked on a media blitz of sorts, revealing, among others, her love for interior design, bright colours, costume jewellery, durians and chocolates ... as well as the group's venture into property development. Foresight and a fair amount of patience have seen TA sitting on a gold mine with landbanks in the Golden Triangle, Damansara Heights and other areas around the Klang Valley. And if the success of its well-received maiden project, the high-end Damansara Idaman gated community, is anything to go by, TA is set for interesting times, with property expected to contribute 20% to 30% of group revenue this year. Having resigned from the board of the stockbroking arm and leaving it in the hands of able professionals, Tan is concentrating on the property side of things, a decision that seems to bring her into her creative element. However, as things start to heat up in the stock market, the lady with some two-and-a- half decades of experience in the industry is bound to have a say in matters. After all, with the bulls awakening and the UB status forthcoming, the once biggest retail stockbroker could very well dominate the scene again. While Tan's position may be affected when her husband sells down his stake (as part of UB status requirements), she's the woman at the top for now. So with a two-pronged focus, it'll be interesting to see how Tan decides to plough the field in the months ahead. - By Joanna Sze MTech an 80% stake for a sum of RM10.7 million. Mobiltren is also a messaging solutions provider. Ahmad Kabeer is banking on the large population of China and Indonesia to provide a major boost to the company's revenues, now that short messaging service (SMS) and multimedia messaging service (MMS) have become a practical means of communicating for many. AWC on the other hand is reported to have won projects from the Government for maintenance work in Putrajaya, while AKN Technology has made seven major acquisitions locally as well as in the United States, Hong Kong and China. Ahmad Kabeer was listed as the top Mesdaq tycoon last February by Malaysian Business. With his reputation as someone with the Midas touch on the tech industry, he is certainly a man to watch this year. - By Prathaban V

MALAYSIAN BUSINESS JANUARY 1, 2005 PEOPLE TO WATCH

DATUK CHE MOHD ANNUAR CHE MOHD SENAWI WHITE KNIGHT SET TO GALLOP

DATUK Annuar Senawi, as he more profit of RM26 million for its financial year popularly known in corporate circles, staged ended Dec 31, 2004. a comeback to the business world when he Following a change in its strategy, IUB became the white knight in the rescue of will focus on insurance, timber operations ailing Idris Hydraulic (M) Bhd in 2000. and manufacturing, three core businesses Widely regarded as the key man behind that will drive its earnings growth in the the phenomenal growth of state-owned years ahead. Malaysia National Insurance Bhd (MNI) Annuar, 57, has big plans for the group. in the early 1990s, the successful takeover He is charting to make IUB's wholly owned and restructuring of Idris seems to be his unit, Tahan Insurance Malaysia Bhd, the top achievement yet. top 10 insurance group in the country with Annuar's corporate vehicle, Idaman a market share of at least 5%. Unggul Bhd (IUB), in which he owns a Tahan Insurance was created following 14.9% stake, had assumed the listing status the merger of Talasco Malaysia Bhd, The of Idris in November 2003. The revitalised People's Insurance Co Bhd and Tenaga group is well on the road to recovery and Insurance Bhd. With a much bigger capital is expected to meet its forecast pre-tax base, Tahan intends to become a major

TAN SRI ROZALI ISMAIL STILL MAKING A SPLASH

CONTROLLING three listed companies - of Puncak Niaga, held via Central Plus Puncak Niaga Holdings Bhd, U-Wood Sdn Bhd and Corporate Line Sdn Bhd. Holdings Bhd and WWE Holdings Bhd - While Puncak Niaga is making Tan Sri Rozali Ismail, 48, is expected to waves in the water industry, Rozali's have a busy year. His flagship water property arm U-Wood Holdings is infrastructure group Puncak Niaga charting its own growth. U-Wood, Holdings Bhd will feature prominently on which was originally a plywood the agenda. manufacturer, turned to property Just recently, Puncak Niaga's 70%- development when Rozali bought over owned subsidiary, Syarikat Bekalan Air the company in 1997. The group is now Selangor Sdn Bhd (Syabas), was awarded developing Bandar Puncak Alam, a the privatisation of Perbadanan Urus Air 243-hectare mixed development Selangor Bhd, which manages the water project near the Sultan Abdul Aziz supply operations in Selangor, Kuala Shah Airport. Lumpur and Putrajaya. The Selangor U-Wood has completed preliminary investment arm, Kumpulan Darul Ehsan works for Phase 1 of the RM2.3 billion Bhd, owns the other 30% interest. The Universiti Teknologi Mara campus project its plate. One is the Jelutong Sewage multi-billion ringgit 30-year concession is and is waiting for the letter of award for Treatment plant in Penang valued at effective Jan 1. the infrastructure works worth RM402 RM478 million. WWE is also in good stead This latest development will see Rozali million. to win the third phase of the project worth controlling the largest water supply Rozali owns a direct 8.32% stake in U- RM400 million. operation in the country. At present, Wood while his brothers Mat Hairi and Rozali and Mat Hairi jointly own Puncak Niaga supplies almost half the Shaari own 5.45% and 3.23%, respectively. Peribadi Johan Sdn Bhd, which in turn treated water requirements of Selangor. In the case of wastewater engineering holds 29.25% of WWE. Rozali and his brother Shaari own 43.6% group, WWE, it has some new projects on - By Norsiah Nurani

26 MALAYSIAN BUSINESS JANUARY 1, 2005 after emerging as Seloga's single- largest shareholder, Halim's challenge is to give Seloga the vital infusion it needs to return to the black by this year. player in the regional insurance market, A tall order, maybe, but Halim has particularly Indonesia, the Philippines and a keen business acumen and years of Vietnam. valuable connections on his side. In timber operations, IUB plans to Even during his hiatus, he had been venture into downstream activities while quiedy going about different business its manufacturing subsidiary has already ventures. secured orders worth over RM600 million. His privately held company Metro Besides IUB, Annuar owns a 9.2% stake Ikram Sdn Bhd has been lining up in second board-listed electrical wires and billion-ringgit development projects cables manufacturer, Wonderful Wire & in Ghana, Turkey and Senegal, while Cable Bhd (WWC), which in turn owns a Puri Development Sdn Bhd is small interest in Chin Foh Bhd. working on a RM250 million Annuar had ceased to be a shareholder industrial area at the Malaysia-Thai of Shangri-La Hotels (M) Bhd after failing border in Perak. These open the in his bid to acquire a strategic stake in possibility of Seloga getting a piece Landmarks Bhd early last year. of the action even as it is starting to - By Norsiah Nurani look outside Malaysia. For now, Seloga has a comfortable RM678 million order book with projects in Kuala Lumpur, Cyberjaya, Johor and Sarawak, among others, TAN SRI HALIM SAAD that could last up to 2010. It has also THE COMEBACK KID made forays into the oil and gas sector to companies before the 1997 economic crisis build a RM241.3 million specialised got the better of him. COMEBACK stories are always exciting, asphalt manufacturing plant in Kemaman, As a result of the crisis, Renong became and it's worth watching former Renong Terengganu, the first in Southeast Asia. So the nation's biggest debtor, with arrears of Bhd chieftain Tan Sri Halim Saad, 50, in it may not be too much of a stretch of the RM30 billion. This led to Halim's his attempts to revive his fortunes. And imagination for Seloga to turn profitable. unceremonious departure from the what better way to make a comeback than Should Halim succeed, it may be a corporate world, saddled with a RM3.2 with a turnaround story. redeeming point for him after his failure billion put option he could not fulfil, which Halim's re-entry vehicle is second with Renong, the biggest setback for the would no doubt remain a huge question boarder Seloga Holding Bhd, a former then fast-rising star. Starting out as an mark on his career. After the Government Practice Note 4 (PN4) construction and accounting manager, the New Zealand- rescued the company in 2001, it was property development company that has trained accountant went on to control privatised, reorganised and renamed UEM been bleeding for the past five years. Renong, United Engineers (M) Bhd, Time World Bhd. Appointed chief executive officer last June Engineering Bhd and several other listed -ByJoanna Sze mb