Ananda Krishnan.
PETALING JAYA: The corporate world has lost the visionary business tycoon, Tatparanandam Ananda Krishnan, fondly known as AK, whose transformative ideas reshaped Malaysia’s economic landscape.
Ananda, the founder and chairman of investment holding company Usaha Tegas Sdn Bhd, was instrumental in establishing some of Malaysia’s iconic ventures, including Maxis Bhd
, Astro Malaysia Holdings Bhd, and MEASAT Broadcast Network Systems Sdn Bhd.
Known for his low-profile yet impactful leadership, he was also a key figure behind transformative projects such as the KLCC Twin Towers, which elevated Malaysia’s presence on the global stage.
Tan Sri Jamaludin Ibrahim, former chief executive officer (CEO) of Maxis who worked for Ananda for about a decade, credited the billionaire’s sharp entrepreneurial instincts and extraordinary foresight for the success of his diverse ventures.
“His sharp entrepreneurial instincts, ability to identify talent, understand technology and anticipate consumer trends were remarkable.
“His extensive reading and extraordinary memory kept him well-informed and ahead of the curve,” he noted in a reply to StarBiz.
Reflecting on Ananda’s leadership style, he said the billionaire strongly believed in developing talent and had a natural gift for spotting opportunities.
“His attention to detail was exceptional (and scary!) – he asked deep, probing questions and had an impressive grasp of his businesses’ operations and financial metrics,” the former Maxis CEO added.
Jamaludin also highlighted Ananda’s vast global network, spanning presidents, experts and everyday individuals.
“He was able to connect across diverse cultures and industries. In short, Ananda Krishnan truly seemed like a superhuman!”
Beyond his professional acumen, Jamaludin recalled that Ananda’s personal touch made him feel like more than just a mentor.
“On a personal level, he was not just a mentor but often felt like a father figure to me. Almost every time we met, he would thoughtfully ask about my family, showing a deep sense of care beyond the professional sphere,” he said.
“His passing has left me profoundly saddened. He had an immense impact on my life and career, and I will always be grateful for the lessons and opportunities he shared with me.”
Meanwhile, Tan Sri Mokhzani Mahathir shared a heartfelt reflection, recalling their first meeting in London in 1976, where Ananda, a family friend, encouraged him to pursue a career in petroleum engineering.
“He mentored me throughout my career, and I always sought to repay that guidance,” Mokhzani said, adding that he repaid Ananda’s guidance by working at Maxis.
To note, Mokhzani stepped down as chairman of Maxis effective June 30, 2024, having served as a director since its Bursa Malaysia listing in 2009 and as chairman from April 22, 2021.
Mokhzani described Ananda as a hardworking, diligent, and an intensely focused individual.
“He always surrounded himself with people who shared his vision,” he noted, highlighting Ananda’s sincerity and ability to see the bigger picture in his endeavours.
Mokhzani also highlighted Ananda’s philanthropic efforts, noting: “He has so many charities that put food on people’s tables, especially underprivileged students in rural areas.
“He will always remind me of his childhood days. I’ve been so fortunate to have met and known him.”
Meanwhile, Siva Ramanathan, former senior manager at Usaha Tegas, also reflected on Ananda’s legacy, especially in real estate and media.
He recalled Ananda’s vision for Kuala Lumpur’s cityscape.
“His visionary idea to create value within the city was remarkable. He worked closely with the government to relocate the then Selangor Turf Club and racecourse to pave the way for what we now know as KLCC.”
Siva further added: “At that time, there were no skyscrapers in the area, but he had the foresight to develop something on par with Canary Wharf in the United Kingdom or Battery Park in New York.”
“From developing 70- to 80-storey skyscrapers to launching Astro, he created jobs and opportunities, leaving behind an indelible legacy,” Siva said.
Ananda, born in Kuala Lumpur on April 1, 1938, studied at Vivekananda Tamil School in Brickfields and then later at Victoria Institution in Kuala Lumpur.
He obtained his degree majoring in political science as a Colombo Plan scholar at the University of Melbourne, Australia.
He also obtained a Master of Business Administration from Harvard Business School, graduating in 1964.
Ananda had three children – a son and two daughters.
Despite being groomed to inherit his vast fortune, his only son Ajahn Siripanyo chose the path of monasticism, renouncing worldly riches at the age of 18.
As his children are reportedly not involved in the business, Ananda’s passing has raised questions about the future of his empire.
With no clear successor in sight, the future of his substantial stakes in these companies remains uncertain, sparking speculation about the next chapter of his vast legacy.
Shares of Maxis, Astro, and Bumi Armada Bhd, which Ananda controlled, saw declines following his passing.
Maxis shares closed down five sen, or 1.4%, at RM3.51 yesterday.
Astro dropped by one sen, or 4.35%, to 22 sen a share, while Bumi Armada declined by one and a half sen, or 2.65%, to 55 sen a share.
Meanwhile, earlier this month, Bumi Armada announced a proposed merger with MISC Bhd’s offshore business, a move aimed at creating a stronger global offshore energy player.
However, the merger is now under scrutiny, and industry observers suggest that the process might face delays as the implications of Ananda’s passing on Bumi Armada’s leadership and strategic direction become clearer.
As of the latest estimates by Bloomberg, Ananda’s net worth stands at US$4.2bil (RM18.7bil).
