Corporate Pricess 3 : Ruth Yeoh and siblings 企业公主系列3 : 杨佩君姐弟

Our blog on Carmey Chuah and Dianna Lee Cheng Wen consistently get higher number of search and click every weeks. We decided to continue on such series and this is our 3 report on Corporate princess.

 Ruth Yeoh 杨佩君is familiar face in Malaysia. Being eldest daughter of YTL Corporation 's Tan Sri Francis Yeoh daughter and executive director of YTL Singapore, a high profile enviromentalist, promoting sustainability, corbon control and Green technology.

We managd to find a Youtube video of Ruth Yeoh on National Geographic channel. 


Ruth Yeoh , 30 is married to Kenneth Khaw. Ruth graduated with a degree in Architectural Studies (Hons) from the University of Nottingham in UK and an MSc in Management from Cass Business School in London.

Younger brother of Ruth Yeoh, Mr Jacob Yeoh杨恭耀, the eldest son of Mr Yeoh, is deputy CEO of the telecommunications firm. In charge of Yes 4G WiMAX technology.

Jacob Yeoh and partner Fiona Oon at one function.

Francis Yeoh's 2nd son Joseph Yeoh杨恭贤 will marriged primary schoolmate next year

Francis Yeoh's 2nd son Joseph Yeoh杨恭贤,LLB,VP of YTL Hotels & Properties & YTL Land & Development who in charge of group F&B, retail etc,  will marriged primary schoolmate next year

The youngest of five siblings call Mr Joshua Yeoh,graduated from Cambridge University with a master's in civil engineering.

There is more where they come from. Ruth and Joshua are only two of a batch of 27 of the YTL bloodline (YTL stands for Yeoh Tiong Lay - founder of the group and the elder Mr Yeoh's father) pottering about in the many units that represent the smorgasbord of businesses held under the sprawling YTL umbrella which spans Malaysia, Singapore, Indonesia, China, Australia and Britain.

Eventually, one of these privileged young people - the children, nephews and nieces of Mr Yeoh, armed with elite academic qualifications - will lead the mammoth family enterprise beaten into steady shape by its chief steward.

The rest potentially stand to be chief executive officers of the conglomerate's respective businesses which Mr Yeoh has cleverly divvied up into 'bite-size' operations.

'They belong to the generation that tasted some wealth yet competed for the best universities on their own strength. That's the first test of meritocracy. All 27 of them have not been mollycoddled. That's my greatest joy,' says Mr Yeoh.

He admits that he can no longer micro-manage the group which has grown by leaps and bounds and has a fat kitty of RM12 billion (S$4.94 billion).

'I'm introducing CEOs now into each organisation, not MDs (managing directors) as that's the old way. I could macro- and micro-manage during my time then but not today. I can't be a strategic thinker as well as a micro-manager.'

YTL GROUP was founded by Tan Sri Yeoh Tiong Lay, Mr Yeoh's grandfather came to Malaya from China's Fujian province in 1920 with no education nor kin.

It began as a petite construction business in 1955 and has grown from a single listed entity in 1985 to a huge business empire with businesses in regulated utilities, infrastructure, real estate, hospitality, and telecommunications.

A civil engineer, Mr Francis Yeoh took over the running of YTL in 1978 and grew it into a global conglomerate comprising six listed companies, which will soon be down to five as it is in the midst of privatising YTL Cement through a share swap. They have a combined market capitalisation of more than RM34 billion.

A decade ago, the group was completely reliant on its Malaysian business. Today, it derives more than 75 per cent of its revenue from abroad. The plan to hedge the group's business took place steadily and with calculation over a decade.

Mr Yeoh's penchant for scooping up valuable assets in distressed times and turning them into gems in the cash-plump stable is widely known.

YTL Power International, which is 53 per cent owned by YTL Corp (both are listed on Bursa Malaysia), bought Singapore's second-largest power company PowerSeraya in 2009 from Temasek Holdings for $3.8 billion, which included debt of $200 million. The purchase took place at the height of the global financial crisis.

Seven years before that, YTL, a relative unknown in Europe, trumped the Royal Bank of Scotland and became the proud owner of Wessex Water. The group bought the asset from a unit of failed energy trader Enron for £1.24 billion (S$2.4 billion).

In early 2010, Citigroup, to restore its balance sheet, sold one of Japan's most famous ski resorts Niseko Village to YTL Group for 6 billion yen (S$99.6 million).

'I've been watching Niseko for a while and had waited for the right time. Citigroup was willing to sell it at the right price and that's what made it compelling,' he says.

While PowerSeraya and Wessex fit snugly into the group's affinity for regulated assets, Niseko fell right into place with its high-end full-frills hospitality business.

Such opportunities in crisis have enabled the group to diversify its operations and spread its wings across many continents.

No surprise then that Mr Yeoh is hoping he can work the same kind of magic again in the current slowdown.

'I like headwinds. We can buy a lot of assets,' he says, true to form.

'If there's an economic implosion, the system cleans up by itself. Since 2008, there has not been such a cleanup. Not many dare mark to market their properties or assets,' he groans, clearly referring to the absence yet of attractively- priced assets for the group to pounce on.

He expects that turning point 'when something gives' to happen some time closer to the second half of this year.

The group is, predictably, trawling for regulated and property assets. On the radar are malls in China and Singapore.

'For Singapore, probably with this implosion of sorts, holders of assets who are highly geared may want to let go of malls,' he says.

Singapore

IN SINGAPORE, the YTL Group's Starhill Global Real Estate Investment Trust, which is listed on the Singapore Exchange, owns Wisma Atria in Orchard Road and Ngee Ann City. The facade of Wisma Atria, a popular mall in uptown Orchard Road, is currently undergoing extensive redevelopment and will soon showcase double-storey flagship stores of international brands in the mid to high-end segments.

The group has also been expanding its real estate involvement here which currently comprises Sandy Island and Kasara The Lake on Sentosa Cove, and Westwood Apartments in Orchard Boulevard.

Update : What happen in 2013 

杨佩君
杨忠礼机构投资董事

 
杨忠礼是马来西亚杨忠礼机构的创办人，也是新马商界一个响当当的名字。

　　他的长子杨肃斌在商界的名声也一样响亮。他跟其他六名各有所长的弟妹一起经营家族事业，成绩斐然。

　　来到第三代，杨肃斌的长女杨佩君的名气至今或许还没祖父、父亲那么大，不过她从小就受到他们循循善诱，在许多亚洲企业还未完全搞清楚可持续发展概念的当儿，全职掌管起公司的可持续发展事务，而且开始崭露头角。

　　听她侃侃道来，觉得她不仅从自己所热爱的工作中实现集团的可持续发展目标，也在对整个地球生态履行一项伟大的天职。

　　

杨忠礼孙女崭露头角 杨佩君要为地球添绿荫 韩宝镇 (2011-12-11) 杨佩君（30岁，已婚）是杨忠礼新加坡（YTL Singapore）的执行董事，全职负责杨忠礼机构的可持续发展事务。 她拥有英国诺丁汉大学建筑学学位和伦敦卡斯商学院（Cass Business School）硕士学位。自24岁加入公司后，她就开创了环保部。对她来说，个人之后所做的一切工作，都是最自然不过的。 在她的领导下，公司在业务可持续发展（sustainability）方面不遗余力，得到不少奖项，也得到肯定。她自然也成为了集团肩负这项堪称“天降大任”的不二人选。 杨佩君对大自然充满热爱，记者跟她谈话时发觉她的坚定信念完全发自内心，真诚而毫无矫饰。原来一颗爱护大地的种子，打从她年幼时就由父亲深深埋下。 那是一段儿时的记忆，但她追述时却显得异常清晰。 父亲早年开发马来西亚邦咯岛度假村（Pangkor Laut Resort）时，常带着小佩君到岛上，并要她亲手栽种小树和灌木。 她问父亲为何要她那么做，得到的只是简单的回答：“当你10年后回来时，这些树将会长得跟你一样高，而在很多很多年以后，它们就会跟数百年的雨林一样，长成参天大树。” 这一年，杨佩君只有五岁。父亲这一番话确立了她的价值观。 “他在我心中深植了一个念头，那就是我要做得更多。我那‘可持续发展’的观念，也从当时开始滋长。” 对于大自然，杨佩君有尊重，也有担忧。地震、水灾、核泄漏，令人不安，但是人类究竟应该如何应对？她深信人类今天的所作所为，将影响这个世纪和下个世纪的地球。 她是个基督教徒，有人问过她“世界将终结，拯救它有何用？” 当跟父亲谈起这件事情时，他说了一段很重要的话：“你知道吗？这跟我们对我们所爱的人所抱着的态度是一样的。我们都知道家人总有一天会死去，可是你会因此而少爱他们一点吗？” 她说：“我们对于这个地球，也应该抱着同样的态度。我们应该做些事情，要不然就太迟了。” 杨佩君坚信所做的是天职 杨佩君坚信自己所做的不仅是一份工作，而是天职。 杨忠礼机构所经营的业务横跨各领域，有发电厂、电力供应、洋灰生产、建筑、酒店与房地产、土地开发、电子解决方案（e- solutions）、豪华火车“东方快车”（The Eastern and Oriental Express）和升禧环球房地产投资信托(Starhill Global REIT) 等等。 它强调“环境传道”，不仅要教育公众，也对社区领袖灌输环保意识。通过YTL-RARE（Rare Animal Relief Effort，珍稀动物拯救行动）东南亚游学计划，教导领袖们在自己的社群发起“迷你运动”。杨忠礼电力国际公司在新加坡的西拉雅能源（Power Seraya）也推出计划，把大专生培养成能源节约的倡导者。 *hanpt@sph.com.sg 让环境持续发展　不是说说罢了 杨佩君的身份也具有说服力。她本身就是美国瑞尔保护协会（RARE Conservation）和保护珊瑚礁组织Reef Check Malaysia最年轻的信托人。 她指出，集团以对环境负责任的态度去建设邦咯岛度假村、日本的二世古村（Niseko Village）和北婆罗洲沙巴的加雅娜岛（Pulau Gaya）度假村等，不对周遭自然环境造成破坏。 “我认为作为一个集团，我们这么做并不单是为了生存而已，也是因为这对我们的心灵有好处。这正是人们为我们出力；我们的利益相关者（stakeholders）尊敬我们；投资者对我们作出投资的理由。他们知道我们不是说说罢了，而是说了就会去做。” .. Ruth 杨忠礼机构内部有个可持续发展委员会，委员们定期开会讨论集团所要进行的可持续发展新手段。它自2006年开始每年发表“可持续发展报告书”，以透明态度行事，让人们知道集团一年里在可持续发展方面所作出的努力，而集团所发表的“可持续发展报告书”也为它赢得赞美。 集团内部的清洁发展机制（Clean Development Mechanism，简称CDM）咨询团，不仅为集团出主意，也为其他公司提供咨询服务，以推广企业绿化行动。CDM是按京都议定书而制定的，让公司通过售卖“排放减量认证”（Certified Emission Reductions），把对环境的改善转为现金流。 杨佩君认为“可持续发展”的意义深远。 “当我们提到可持续发展时，并不只是在说爱护环境而已。它也跟人有关，跟雇员有关，跟他们的家人有关。” 她在言谈间都会提起父亲，流露了对父亲的无限崇敬。杨肃斌是个大生意人，最近从吉隆坡到本地出席一个说明会时，向在场的分析员与记者谈起生意经和经济局势时滔滔不绝，充分展现睿智与信念。但从杨佩君的描述，他俨然是个深谙教养子女之道的细心父亲。 她承传了父亲的智慧与信念，可是却不失恭逊谦卑，比她的父亲多了一份平易近人。 杨肃斌有一女两子，杨佩君是长女。她的母亲在2006年过世。 杨佩君心中那颗爱护大地的种子早已发芽，长成一棵树，并逐渐开枝散叶。这棵树也会如同存在已数百年的雨林中的树木一样，长成参天大树，让更多的人心撑起一片绿荫……   《联合早报》 （编辑：魏晓亮）

 马来西亚YTL集团富三代



此外，杨佩君的弟弟杨恭耀，也在近年开始加入公司团队，担任杨忠礼通讯私人有限公司的副首席执行官，推动口碑良好的YES 4G手机与语音服务，姐弟两所负责的任务越来越多，可见杨家正一块块的为企业接班路铺上基石。




杨恭耀是杨家第三代，杨忠礼的长孙，从帝國理工學院毕业后，他先到新加坡的某家銀行擔任研發和分析專員，2007年才返回大馬加入楊忠禮集團，先是負責建築領域，之後才加入楊忠禮通訊，經營旗下的Yes品牌，專門推動4G通訊和手機語音服務。

儘管楊恭耀不願在此時此刻讓未婚妻曝光，也不願意透露其名字，但他提起未婚妻時，總是甜蜜蜜的。

　他回憶說，五年多前在一個朋友舉辦的活動上，他認識了未婚妻素珊。在他心目中，對方是一個完美女性，彼此擁有共同信仰與嗜好，生活當中，互相激勵、關懷。

　針對兩人即將於今年12月舉行的婚禮，他披露，很大的可能是在吉隆坡大華酒店（The Majestic Hotel）設宴，兩人迄今仍未決定將會到哪裡度蜜月。

　結婚後，妻子會否進入楊忠禮集團效力，楊恭耀聲稱，這個問題言之過早，他也未曾與未婚妻針對此事討論，皆因他們不會因著這層關係而理所當然為妻子刻意安排。

留意商业新闻的人必会发现，以往低调至极的杨家第三代近年开始陆续崭露头角，往常是长女杨佩君和长子杨恭耀曝光，如今轮到排行第三的杨恭贤。

在2008年回返家族企业效力之前，杨恭贤曾在律师楼服务一年。

当初弃经济工商管理而选法律，其实是为了家族。“家里每个人的数学都很厉害，因为祖母当年是数学老师，不过每个家庭都需要至少一个律师，我最终选读法律，现在我们也需要医生，不过没有人想当医生，大概是因为课程耗时太久吧。”

12个月的律师楼生涯训练和装备他的思维也对他如今的事业有所助益。“我的哲学是让大家欢笑，不管他是什么人、从事什么工作，我想这一点非常重要，而且也是酒店业的基础。不过，我不需要人家告诉我这一点，我很早就知道。从小，不管做什么，我就喜欢让周围的人快乐。很多人问我……比如圣诞节要什么礼物，我都说随便你要给什么，或者是换成我要给你一些东西，因为我想看到你欢笑，所以我对现况以及能为很多人准备很多东西，尤其是我在乎的人而感到开心和感恩，So it's good。”

新姿迎未来

他目前身兼YTL Hotels & Resorts以及YTL Land & Development私人有限公司副总裁，负责餐饮、土地开发、酒店、零售业务，也协助日理万机的父亲打理“时光之旅名表珠宝展。”

今年的重头戏之一是重新推介升禧艺廊。杨恭贤指出，经过11年光景，升禧艺廊已到了展现新姿迎接未来的时刻，故除了大手笔变装更请来拉丁情歌天王胡力欧开唱欢庆，“升禧艺廊拥有全东南亚最大的钟表零售楼层，Adorn层已重新装饰，有28间专门店，超过80个品牌汇集，陆续将迎来更多品牌入驻，包括占地1万1500平方尺的Sincere先施表行、劳力士、积家、爱马仕也陆续开设专门店。”

杨肃斌（左）6月在吉隆坡乐天广场的十号胡同召开记者会时，杨恭贤（右起）便随侍在侧，跟随祖父杨忠礼和香港美食家蔡澜在品尝美食之余，也一起会见媒体记者。

明年初娶女同学

作为富豪家族第三代，杨恭贤的感情生活也令人好奇。虽然他至今仍是王老五，不过明年初他便将告别王老五生活，与他交往多年的女友结婚。

杨恭贤透露，女友是小学同学，中学也曾同校，后来在英国重逢。彼此生命过程中，多次擦肩而过，却并不曾来电。

那两人后来又是怎么擦出爱情火花呢？

问及这事，杨恭贤马上露出甜蜜的笑容说：“我们的爱情故事其实有如爱情电影般曲折复杂……有时间我再细细道来吧。”

母亲送老师藤条

杨恭贤的母亲陈仪馨曾是香港无线演员，嫁给他父亲后，洗尽铅华在家相夫教子。曾有报道说，陈仪馨对孩子管教严厉，为了让学校老师管好杨恭贤，她特别从生产藤家具的工厂中定制了两支藤条“送”给老师。

记者问起杨恭贤这事，他马上大笑说：“是啊，有一天我妈妈拿着藤条走进学校课室，指着我跟老师说：老师，那位是我的孩子，麻烦你帮我好好管教他，如果他做错事，尽量用这藤条帮我教训他。”

他跟着还开玩笑地说，妈妈送藤条给老师，让一些同学“遭殃”被鞭打，一度让他成为班上“不受欢迎”的同学。

现在回头来看，杨恭贤感激父母和祖父母对他严厉管教，让他能够成为今天的年轻有为企业家。

大馬企業家楊肅斌的管理哲學

作者：英國《金融時報》 拉胡爾•雅各布 2011-12-25 (www.ftchinese.com)
楊忠禮集團(YTL)董事總經理楊肅斌(Francis Yeoh)正在闡述集團旗下酒店業務的管理哲學，這時，談話出現了意外的轉折。他當時正在香港一個大型酒店投資會議上發表講話，觀眾席中有來自亞洲和美國的150名高管。

當我問他，楊忠禮集團的主業是基礎設施，他是如何創建一項備受尊敬的酒店業務的時候，他回答，他年輕時從同胞馬來西亞華裔億萬富翁、酒店業者郭鶴年(Robert Kuok)那裡學到了一個重要教訓。郭鶴年是香格裡拉(Shangri La)酒店集團的所有者。郭鶴年曾告訴他，在酒店行業，存在一個“倒金字塔結構”，“員工是公司中最重要的資產”，因為接待客人的不是首席執行官，而是員工。


迄今為止，管理層的口徑也是如此。然而，郭鶴年還對以下這一傾向提出警告：一些亞洲大亨將酒店視為面子工程。他說道，“‘員工會對你們這種可怕的傲慢感到不滿，他們會在泳池裡撒尿。因此當你游泳時，（記得）不要張嘴’。”觀眾們倒吸一口涼氣，然後爆發出大笑聲。

在提問環節結束時，許多人排隊等著與他交談。一段時間以後他才離開人群接受採訪。

這位曾在倫敦西區的金斯敦大學(Kingston university)就讀、現年57歲的土木工程師表示，有一條主線把他經營的這個綜合企業的各種業務粘合在一起，其中包括英國供水公司Wessex Water、他在馬來西亞和新加坡擁有的發電廠、他的公司在吉隆坡修建和經營的機場快速鐵路以及他在法國、日本和馬來西亞擁有的酒店。核心競爭力是一名工程師的象徵：比其他人更高效的創建並經營大型項目。

楊肅斌的父親沒上過大學，他在30歲時創建了一家建築企業（YTL是他名字的首字母縮寫）。作為長子，楊肅斌於1988年接管了這家企業，並在弟弟們的幫助下經營。1992年，在一場大規模斷電事故促使馬來西亞政府允許私人經營電力公司後，他開始聲名鵲起。

作為皈依基督教的第一代人，楊肅斌表示，YTL的員工必須掌握3種語言：“通向道德與正直的上帝語言”；“清楚表達理想”的人類語言；以及機器語言，他的意思是IT。“我不是為了我的信仰讓別人改變信仰，而是告訴（我的員工們），他們的價值觀必須這樣排列。”

在2002年收購Wessex Water後，YTL贊助了一場在巴斯舉辦的免費音樂會，表演者是盧奇亞諾•帕瓦羅蒂(Luciano Pavarotti)、普拉西多•多明戈(Plácido Domingo)和何賽•卡雷拉斯(José Carreras)。在與“世界三大男高音”簽訂的協議中，有這樣一個要求，他們必須演唱贊美詩《我心靈得安寧》(It is well with my soul)。

上世紀90年代中期，帕瓦羅蒂曾在楊肅斌在馬來西亞的綠中海度假村(Pangkor Laut Resort)的開業儀式上演唱。楊肅斌開玩笑地將該度假村稱為“生育診所”，因為有幾對夫婦在入住期間懷孕。他解釋道：“因為無事可做，所以最後在這方面做了很多。”

今年，YTL試圖收購美國酒店集團Rosewood Hotels，但出價低於香港新世界酒店(New World Hospitality)。Rosewood Hotels是紐約凱雷酒店(The Carlyle)的所有者。坐擁140億林吉特資金的楊肅斌熱切盼望著一場金融危機的到來，但讓他失望的是，掛牌出售的資產沒有增多。

“泡沫應任由其破裂，就像在任何一個經濟周期中一樣。我希望，不管希臘危機之後發生什麽，政府既不會縱容，也不會（阻止）根據市價估值的（過程），”他表示，“人是聰明的。這樣我們（在亞洲）才會變得更為自律。”

鑒於這種對不良資產的興趣，人們毫不意外的發現，他曾仔細研究過沃倫•巴菲特(Warren Buffett)的投資哲學。他表示：“我們不相信收購企業、對其進行美化然後將其出售的哲學。我們購買的是那些我們能夠利用我們的改造能力令其增值的企業。”

這一戰略讓YTL的收購傾向於有著長期投資視角的公用事業公司，例如新加坡的一家為該國供應三分之一電力的電力公司和澳大利亞南部的一家電網公司。

在Wessex Water的例子里，他驕傲地表示，該公司在過去4年連續獲得英國最優秀水力公司的稱號。他當年以14億英鎊從安然(Enron)手中收購了Wessex Water。

盡管他建立的跨國公司有超過75%的收入來自馬來西亞以外，但有一個國家楊肅斌沒有急於前去修建電廠或供水公司，那就是中國。

楊肅斌坦率的說到，中國需要做的是改善投資環境。對於一位海外華人企業家而言，這番表態不同尋常。他表示：“就連在中國內地建設基礎設施項目的香港公司也失敗了，因為中國政府沒有完全理解法治和契約神聖不可侵犯。”

與亞洲首富李嘉誠一樣，楊肅斌更願意在有著普通法傳統和健全監管框架的發達國家投資基礎設施項目。“上世紀90年代初，我們與地方政府簽訂了一項協議，（準備在江西）建設一家電廠。這本應是一項排他協議，（但當時）我們發現除了我們這份協議，還有另外6份協議也在簽訂，”談起那些往事他大笑不已。

以自嘲方式來闡釋商業智慧的這種習慣正在源源不斷地展現出來。楊肅斌講到了這樣一項挑戰：YTL集團旗下經營著曼谷至新加坡的東方快車(Eastern & Oriental Express)豪華專列，他們試圖吸引更多非日本亞洲客戶乘坐這趟專列。

在公司對此進行研究後，他的經理回來說：“先生，有好消息，也有壞消息。”

YTL得知，亞洲人問的第一個問題是：“你們的火車上有賭場嗎？”

楊肅斌說道，他的信仰不允許他這麽做。“我說：‘沒有’。”

他的經理接著告訴他，亞洲富人的第二個反應是：“你們肯定在開玩笑。這等於我要兩夜三天與老婆在一起，我還不能中途跳下車。就算你給我錢，我也不會去坐。”

楊肅斌以前肯定多次講過這個故事，但他仍然大笑起來。“我原本希望他們會理解旅行的浪漫和帶給人的新生，”他表示，“完全不是這樣。‘沒賭場、沒情婦，沒門。’這是我吸取到的一條很好的教訓。”

譯者/何黎
本文的網址：http://www.ftchinese.com/story/001042393

最新 : 2013年最资深有经验美丽的企业公主

The Man Who Brings Water to Bath YTL Corporation's Francis Yeoh 英國人 都喝他的水 楊忠禮集團總經理 楊肅斌

One of Asia's 25 most powerful entrepreneurs, he controls electricity transmission in South Australia and water services in southwest England. But what's on his mind right now is some down-home cooking...

It's around lunchtime in the narrow corridors of Lot 10 Hutong, the "heritage food village" in the basement of Kuala Lumpur's upscale Lot 10 Mall. A man in his early fifties with a distinctly Chinese face is bent over his plate, his suit jacket hung over the back of the restaurant chair. He is eating a dish of dark, soy sauce-soaked char kway teow – a popular Malaysian take on fried rice noodles – which set him back the equivalent of NT$100.

"You don't have black bean soy sauce like this one in Taiwan," the man says in Hokkien, the language known as "Taiwanese" that originated in China's Fujian Province and is widely spoken by ethnic Chinese throughout Southeast Asia.

The noodle eater is billionaire Francis Yeoh, managing director of YTL Corporation, a highly profitable conglomerate spanning energy companies, luxury hotels, shopping malls and a 4G mobile network.

On Oct. 21, 2011, Yeoh took a private plane to visit the Taiwanese offshore island of Jinmen (also known as Quemoy) from which the Yeoh clan hails. After stepping off the aircraft, he knelt down to kiss the soil of his ancestral homeland.

Yeoh conceived of Lot 10 Hutong – which features the signature dishes of local eateries that have been around for at least two generations – with the culinary preferences of his parents in mind. He wanted them to have easy access to their favorite dishes and snacks such as prawn noodles, char kway teow, and roti, the South Asian grilled flatbread."All four generations in our family eat these.

The younger generation has stopped eating these dishes. I really fear they could vanish one day," he remarks.

Jinmen Island is the native land of Yeoh's grandparents. The dormitory, library and auditorium at National Quemoy University were all donated by the Yeoh clan. But in other parts of Taiwan, few people know about the clan's influence and largesse.

In terms of revenue, YTL Corporation is Malaysia's largest ethnic Chinese business. As the largest private infrastructure company and public utility business in Asia, YTL Corporation counts among only a handful of Malaysian multinationals. The conglomerate earns 85 percent of its revenue and profits overseas.

YTL group companies provide electricity to the entire state of South Australia, generate one third of Singapore's electricity, and supply 1.2 million households in the southwest of England with water and wastewater services.

Malaysia's Largest Ethnic Chinese Business

Also part of the YTL empire are two power plants in Malaysia, luxury hotels in France, Japan and other parts of Asia, two upscale department stores on Singapore's Orchard Road, the luxury retail malls Starhill Gallery and Lot 10 Mall, two five-star hotels and two holiday resorts in Kuala Lumpur.
Yeoh was the only entrepreneur in the entourage of Malaysian prime minister Najib Razak when he addressed the World Economic Forum in Davos, Switzerland in late January.

Less than a month later, on Feb. 19, Najib and Singapore prime minister Lee Hsien Loong announced plans for a high-speed rail link between Singapore and Malaysia to be built under a BOT public-private partnership. The new rail link, expected to be operational by 2020, will shorten train travel time for the 315-kilometer distance between Kuala Lumpur and Singapore from six hours now to just 90 minutes, making daily commutes between the two metropolises possible.

In announcing the project at a joint news conference, Najib said: "It will change the way we do business, the way we look at each other, the way we interact." Getting the costly train link back on the drawing board (it was shelved during the Asian financial crisis) was the handiwork of Francis Yeoh, who began to lobby the two governments, raise funds and plan the project seven years ago.

Yeoh is not a newcomer to railway transport. YTL holds a 50-percent stake in two train services linking KL International Airport and the city's central station, and it operates the Eastern & Oriental Express luxury train, which services routes linking Singapore, Malaysia, Thailand and Laos.

The furniture and interior decoration of Yeoh's office in the YTL Headquarters are very British. Visibly relaxed Yeoh sits on an English sofa with his left leg crossed under the right knee, drinking English tea, as he takes time out for an exclusive interview with CommonWealth Magazine. Yeoh was born in 1954, the year of the horse in the Chinese zodiac, which explains the ubiquitous presence of horse figurines in his office.

He charms the interviewer with his witty humor and chats animatedly and eloquently, freely sprinkling his fluent British English with Malay, Mandarin and Hokkien expressions.

Forbes magazine lists Francis Yeoh's father Yeoh Tiong Lay as Malaysia's seventh richest man, worth US$2.8 billion, making him a member of the global billionaires' club. Fortune magazine ranked the son as one of Asia's 25 most powerful business personalities.

Yeoh's father, Yeoh Tiong Lay, founded YTL in 1955 as a construction firm. Before Francis took over in 1988, YTL Corporation only contracted small projects such as repairing military camps and building government projects such as armories, schools and clinics.

Under the stewardship of Francis, who has a civil engineering degree from Britain, YTL expanded over the last 25 years into a multinational cross-industry enterprise with seven listed companies and 12 million customers around the globe. The conglomerate is now active on three continents and boasts annual revenue in excess of NT$300 billion. Aside from the Kuala Lumpur stock exchange, stock market listings of YTL or one of its affiliates include Frankfurt, Tokyo, New York and Singapore.

While the rest of the world has caught "China fever," Yeoh has kept a cool head, and remains wary of investing in the utilities industry there.

"Why can't we do it in China? I cannot do it in India yet, nor Vietnam or Indonesia, but I can do it in Singapore, Britain and Australia where the regulatory framework is very transparent. Why am I in Australia, Singapore, and Britain in utilities? Because they have a regulatory framework, there is no black box, no corruption. Business is clear. Malaysia's regulatory framework is not as mature as that of Singapore or Britain or Australia," Yeoh states frankly.

It's not that Yeoh has not toyed with the idea of making it big in China. In the early 1990s he tried to tap the China market, like other entrepreneurs at the time, filled with enthusiasm over the huge opportunities there.

He signed an exclusive agreement with local government officials in Jiangxi Province for the construction of a power plant. However, not much later he found out that similar agreements had been inked with six other competitors. "They don't understand that regulations and contracts are inviolable," he comments.

Yeoh is generally known to be a prudent investor with a long-term outlook.

"What led to the economic disaster?" he muses. "The whole world, including the legal system, government, people, couldn't stop their short-term thinking. It was too good, too profitable, and nobody wanted to question it."

Yeoh's aversion to what he calls "short-termism" becomes apparent in his investment strategy. YTL buys up companies during economic downtimes and favors public utility concessions that guarantee stable returns over a long period. As a result, YTL's compound annual growth rate before taxes has averaged an astounding 55 percent for the past 15 years.

"If you invested in me US$1 million, today it'd be worth US$150 million. That's not too many years. In 30 years you have 150 times profit," Yeoh says.

Yet in the financial markets, the prevailing focus is on dividends and short-term gain, and his company's stocks remain unfashionable.

"Nobody likes to buy my stuff," he concedes. "They like to hear Enron stories. 'What's the next quarter?'"

American energy company Enron's once soaring profitability came derailed by an accounting scandal, and ultimately bankruptcy, in 2001.

Yeoh is also well aware of the importance of good service.

"I got 12 million customers in the world," he says. "I am not a politician. Politicians got five years to do something. I don't have. Because if my service is no good, my 12 million customers will become zero tomorrow."

A devout Christian, Yeoh suggests that business people think long term for the sake of bettering people's lives. "If you are given the privilege of being president of a company, you can make a difference," he says.

Yeoh's war chest is filled with cash in the order of NT$100 billion and he frankly admits that he eagerly awaits the next financial crisis to go on his next buying spree. He believes the bubble needs to burst to bring investors to their senses and restore discipline in the markets. The YTL business empire always expands when others are hit by crisis.

Thriving Amid Crises

In 1992 when Malaysia suffered a major blackout, Yeoh convinced the government to privatize the country's power industry. Subsequently, YTL was awarded the country's first independent power producer (IPP) license.

During the Asian financial crisis in 1997, Yeoh bought up several luxury department stores in Singapore and Kuala Lumpur at bargain prices. He also acquired PowerSeraya Ltd. from Singapore's state-owned investment firm Temasek Holdings. Now called YTL PowerSeraya, it supplies one third of the city state's power needs. In 2000, Yeoh bought a stake in ElectraNet Pty. Ltd., which owns and operates the power transmission grid for the state of South Australia under a 200-year concession.
He is also proud of having shown up Japanese competitors in the construction business.

"Japanese people at that time were competing against us. They lost to us all the time. 'How can a Japanese company lose to a local Malaysian company?'" Yeoh recalls triumphantly.

YTL had introduced slip forming systems which allow pouring concrete round-the-clock by continuously sliding the formwork vertically or horizontally. "We worked 24 hours. We scared them. They woke up the other day and the building was taller by two stories. Because we can do 24 feet in one night"

But YTL, then virtually unknown in the West, truly moved onto the international stage with a takeover bid in 2002.

Beating out formidable rivals such as Hong Kong property magnate Li Ka-shing and the Royal Bank of Scotland, YTL bought Wessex Water, a water and sewage services company in southwest England, from Enron's water utility company Azurix.

Britain's Daily Telegraph commented on the unexpected deal with the irreverent headline "Who the Hell are YTL?"

An opera lover, Yeoh came up with an ingenious idea for showing his clout and winning local customers' trust: He flew the world-known "Three Tenors" – Placido Domingo, Jose Carreras and Luciano Pavarotti – to Bath in England for a free concert. The ensuing flood of thank-you letters showed that public misgivings had been dispelled.

A world in crisis is the best hunting grounds. When his prey is starving, Francis Yeoh is most likely to pounce on the market. Amid the current global economic downturn, Yeoh, sitting on hundreds of millions of cash on hand, is widely expected to go on another hunt for easy prey.

By Monique Hou
From CommonWealth Magazine
Published: March 06, 2013 (No.517)
Translated from the Chinese by Susanne Ganz

More : Corporate Princess 3 : Ruth Yeoh and siblings

 英國人　都喝他的水 楊忠禮集團總經理  楊肅斌

天下雜誌 517期       


馬來西亞「楊忠禮集團」第三代，楊恭耀父親為「楊忠禮集團」總經理楊肅斌，家族資產超過1千7百億台幣。整個澳洲南部的電力、新加坡三分之一的電力，和英格蘭西南部一二○萬人的用水，都由楊忠禮集團所供應。

馬來西亞第一華商「楊忠禮集團」總經理，掌握澳洲的電、英國的水，是亞洲最有權力的25位企業家之一。
  
中午時分，吉隆坡精華區「十號廣場」百貨公司的地下室，走道曲狹的「十號胡同」美食街裡，一名五十歲出頭、華人面孔的男子，西裝掛在椅背上，正低頭吃著一百元台幣一盤，黑呼呼的炒粿條。「這種黑豉油，你們台灣沒有，」他用閩南語說著。

他是楊肅斌，楊忠禮集團（Y TL）總經理，馬來西亞第一大華商，亞洲最有權力的二十五位企業家之一。
 

二○一一年十月二十一日，一架私人飛機降落在金門機場。艙門打開，楊肅斌步下飛機，仆地親吻金門土地。

十號胡同，是楊肅斌為方便父母品嘗，將蝦麵、炒粿條、烤餅等父母愛吃的小吃攤邀集一處。「我們一家四代都吃這些。年輕這一代突然都不吃了，我很怕它們哪天會消失。」

而金門，則是楊肅斌祖父母的故鄉。金門大學的宿舍、圖書館演講廳，都來自楊家的捐輸。但楊肅斌家族的顯赫，除了金門人之外，台灣少有人識得。

楊忠禮集團不但是馬來西亞營收最大的華商集團，且是馬來西亞少數世界級的企業、亞洲最大的民營基礎建設及公用事業公司。該公司八五％的營收和獲利，都來自海外。

整個澳洲南部的電力、新加坡三分之一的電力，和英格蘭西南部一二○萬人的用水，都由楊忠禮集團所供應。

ＹＴＬ 大馬第一華商

此外，該集團還擁有大馬兩座電廠，在法國、日本和馬來西亞擁有飯店，以及新加坡烏節路上的兩間百貨公司、吉隆坡頂級百貨公司升禧藝廊、十號廣場、兩家五星級飯店和兩個度假村。

一月底，馬來西亞總理納吉，到瑞士「世界經濟論壇」發表演說，楊肅斌是唯一陪同前往的企業家。

二十幾天後，納吉和新加坡總理李顯龍，宣布以BOT方式，興建吉隆坡和新加坡之間的高鐵。七年後通車，六小時車程將縮短為九十分鐘，星馬一日生活圈即將形成。

「這鐵路網將會是一大變革，兩邊經商方式勢將隨之改變，」納吉在聯合記者會上說。
星馬高鐵的成形，正是因楊肅斌七年前便開始積極向兩國政府遊說，籌資及興建計劃均已備妥。

楊肅斌並非經營鐵路的生手。吉隆坡機場捷運，以及行駛於星、馬、泰和寮國之間的豪華火車——亞洲東方快車，就是他的。他還很喜歡講，他向亞洲富人推銷「搭火車進行家庭旅遊」的故事。

「我原本希望他們能夠了解旅行的浪漫，」楊肅斌哈哈大笑。「結果他們說，別鬧了，火車上沒賭場、沒情婦，要他們三天兩夜和太太在一起，又不能中途跳下車，給他們錢他們也不去。」

在YTL總部，辦公室的擺設流露著濃濃的英國味。喝著英國茶，楊肅斌左腳縮到英式沙發上，壓到右腿下面，放鬆地接受《天下》專訪。一九五四年出生的楊肅斌屬馬，辦公室裡到處都擺著馬的雕像。

他為人風趣，聊得興起便滔滔不絕，流利的英文裡夾雜著馬來文、中文和閩南語。
《Forbes》評楊忠禮為馬來西亞第七大富豪與世界華人富豪之一。《Fortune》則將他的兒子楊肅斌，列為亞洲二十五位最有權力的企業家之一。

一九五五年，楊忠禮創立YTL。

在楊肅斌於一九八八年接手前，YTL公司還只是一家承包地方性道路和軍營的小建築商。
到了有英國工程教育背景的楊肅斌手裡，二十五年間，已發展成七家上市公司、營業額逾三千億台幣、在三大洲擁有一千兩百萬客戶的世界級集團。股票掛牌的地點，包括法蘭克福、東京、紐約和新加坡。

然而，對於眾人皆染上的「中國熱」，楊肅斌冷眼以對。

「我為什麼不去中國，就跟我現在還不去印度、越南或印尼的原因一樣。我能在新加坡、英國和澳洲做生意，因為這些地方沒有黑盒子、沒有貪污，一切透明，這些國家都有相同的法治架構。但連馬來西亞在這方面都不成熟，」楊肅斌直言不諱。

楊肅斌並非沒有做過中國夢。九○年代初，他也跟很多企業家一樣，滿腔熱血進軍中國。
楊肅斌和江西地方政府簽訂排他性協議，準備在江西蓋電廠。後來卻發現，除了和他，當地政府還簽了六份類似的協議。「政府沒有完全理解法治和契約的神聖不可侵犯，」楊肅斌說。

「是什麼原因導致經濟災難？全世界包括政府、人民、企業，都是短期思考。因為短視太好賺，沒有人質疑它，所有規定，所有人都牽涉進去，我稱之為短視主義，」楊肅斌說。

過去十五年，YTL靠著購併和公用事業特許經營權及穩定利潤、公用事業長期合約，創造出每年稅前盈餘平均複合成長率，高達五五％的驚人戰績。

「如果你和我一樣著重長期績效，三十年前投資我一百萬，現在值一億五千萬，三十年一五○倍哦，」楊肅斌說。「但資本市場裡，沒有人喜歡我這種公司。他們要的是像安隆那種故事：下一季有什麼題材？」

美國能源公司——安隆，因爆發假帳醜聞，最終宣告破產。

「靠政治、靠短視，是無法持久的。政治人物有五年時間，我可沒有。如果我的服務做得不好，我一千兩百萬客戶會轉眼變成零，」楊肅斌說。

他建議，企業家和政治人物應做長期思考。「如果你被賦予做總統或經營企業的特權，你就能讓世界變得更好。這是上天給你的機會，要好好珍惜。」

馬來西亞第一華商「楊忠禮集團」總經理，掌握澳洲的電、英國的水，是亞洲最有權力的25位企業家之一。

儘管感嘆世人短視導致災難，手握千億台幣現金部位的楊肅斌承認，他其實「熱切盼望每次金融危機的到來。泡沫就該讓它破滅，這樣大家才會更自律。」

楊忠禮集團每次變大，都正好是別人遭逢危機的時候。

最歡迎金融危機的企業

一九九二年，馬來西亞大停電，楊肅斌說服政府，成為馬來西亞第一家民營電廠。

九七年亞洲金融風暴後，楊肅斌趁機低價掃進吉隆坡和新加坡的頂級百貨公司，並從淡馬錫控股公司手裡，買下供應新加坡三分之一電力的西拉雅能源公司。

二○○○年，楊肅斌買進擁有兩百年經營權、供應南澳全部電力的電網營運商——耐特電力公司。

「當時日本人跟我們搶，怎麼也想不到會敗給一家馬來西亞公司，」楊肅斌回憶。

「那時，我們已使用最先進的連續循環式滑動模板工程，二十四小時不停工。日本人一覺醒來，我們的樓已經長高兩層，把他們嚇壞了，」工程師出身的楊肅斌，談起這一段，興奮之情溢於言表。

真正讓楊肅斌威震國際的，是二○○二年的一場戰役。

當時安隆倒閉，楊肅斌擊敗李嘉誠和蘇格蘭皇家銀行，從安隆手中買下英格蘭區域性水力公司——韋塞克斯，震驚歐美。

媒體都在問，「YTL是誰？英國人喝的水，怎會是馬來西亞人供應？」

為了除卻輿論的質疑，和拉近與韋塞克斯區民眾的距離，楊肅斌請出好友——三大男高音帕華洛帝、卡列拉斯和多明哥，在英格蘭南部舉辦免費演唱會。事後，民眾道謝信件如雪片般飛來。

危機中的世界是最好的獵場。獵物饑腸轆轆的時候，就是楊肅斌大發利市的時候。一般相信，手上現金超過千億台幣的楊肅斌，一定會趁此波全球經濟低迷之際，尋覓獵物再度出手。

楊忠禮集團
■成立時間―1955年
■旗下事業―
水力：英國韋塞克斯（Wessex）水力公司
電力：澳洲耐特（ElectraNet）電力公司、新加坡西拉雅（PowerSeraya）能源公司、馬來西亞兩座電場
交通：亞洲東方快車、吉隆坡國際機場捷運及廉價機場捷運

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