Tan Sri Lim Kok Thay (林国泰; born 16 August 1951) is a Malaysian Chinese billionaire businessman. He is the chairman of Genting Group, a casinos, resorts and palm oil conglomerate with a market capitalization of almost US$40 billion, and the second son of fellow billionaire Lim Goh Tong, the company's founder. Genting chairman and CEO Lim Kok Thay has filed an affidavit against two of his nephews, Joey Lim Keong Yew and Benjamin Lim Keong Hoe, disputing their combined 49.2 percent share in Australia-listed Donaco International Ltd., The Edge Malaysia reports. Joey Lim is the managing director and CEO of Donaco International Ltd, while Benjamin Lim is a non-executive director, and a major.
The mother and child were restored to the royal family. The new king conferred the surname Lin (meaning forest) and the Duchy of Bo'ling on Prince Bi Gan's son, named Lin (Lim/Lam) Jin. citation needed. Lim Goh Tong, Fujianese billionaire and founder of Genting Group; Lim Guan Eng, Malaysian politician, former Chief Minister of Penang.
Lim was bornin the mountainous Anxi County in China's Fujian province. He was named afterthe parasol tree, considered auspicious among Chinese, by his maternalgrandfather, who hoped the name would bring him good fortune, Lim said in his2004 autobiography. Forbes in May put his wealth at $4.3 billion.
His father'sdeath forced Lim to leave school and start selling vegetable seeds to supporthis family at the age of 16. In 1937, he left China for British-controlledMalaya, as the country was then known, where he became a building contractor.
During theJapanese occupation of Malaya from 1941 to 1945, Lim survived on vegetablefarming and petty trading, before switching to dealing in hardware and scrapmetal trading, on which he started to build his fortune. Lim, who narrowlyescaped being killed by the Japanese during the occupation, said in hisbiography his brushes with death made him drive himself harder.
After theBritish returned to Malaya at the end of World War 2, Lim benefited from thepost-war reconstruction. He bought used machinery tendered after publicprojects were completed and sold them at higher prices.
Lim, whodidn't speak English and had no knowledge of engineering, also ventured intomining and construction. His experience ``and a little layman common sense'helped him succeed, he wrote in his autobiography.
Enjoying thecool mountain air of a hill station while working on a hydroelectric project in1963, Lim came up with the idea of building a hilltop resort nearerto Malaysia's capital of Kuala Lumpur. The plan stunned friends and fellowcontractors, who warned Lim, then 45 and a successful businessman, against it.
He spentseven years developing Genting, laying a road and building a hotel on a1,800-meter (5,900-foot) hill outside the city. Failing to lure others to join,Lim invested all his money in the project without getting any returns in theseven years it took to build.
Lim Goh Tong Family Tree 2019
Lim hadsupport from the government of Malaysia, which gained independence from Britishrule in 1957. The Malaysian government permitted him to pursue the project andsubsidized the road. It also gave Genting a casino license, renewable everyquarter, and a six-year tax break for the resort business.
Duringconstruction, Lim almost lost his life at least six times from falling trees,driving mishaps and a landslide, according to his autobiography.
Lim Goh Tong Family Tree
Genting,which means ((A top the clouds)) in Mandarin, is a complex of hotels, themedcasinos, amusement parks, shops and restaurants. The resort attracts more than18 million visitors a year.
``Besides beinga tremendous individual achievement, Lim's success in developing GentingHighlands from virgin jungle into a world-class resort reflects Malaysia'seconomic progress in the last four decades,(( former Malaysian PrimeMinister Mahathir Mohamad said in his foreword to the tycoon'sbiography. ``Even without the advantages of higher education, he has proventhat nothing is impossible.))
Lim Goh Tong Family Tree Images
Lim marriedLee Kim Hua in 1944. They had three daughters, three sons and 19 grandchildren,according to his biography. His second son Lim Kok Thay, is Genting'schief executive officer.
Kok Thaysucceeded his father as president and CEO in 2002, before becoming chairman inDecember 2003. Genting needed to become a (global corporation,) Kok Thay saidwhen he replaced his father as chairman in 2003.
Oct. 23(Bloomberg) -- Lim Goh Tong, who built a hilltop casino in Malaysia andturned it into Asia's biggest publicly traded gaming company, died. He was 90.
The founderof Kuala Lumpur-based Genting Bhd. and Malaysia's third-richest person,died peacefully after a short illness.
Lim, whostarted out selling vegetable seeds in China, built Malaysia's only licensedcasino, risking his life and facing bankruptcy along the way. He created whatis now Malaysia's eighth-largest listed company, with interests ingaming, hotels and cruise lines from the U.K. to Hong Kong.