Tan Sri Lim Goh Tong

“Keep on working hard and don’t give up”

Tan Sri Lim Goh Tong

Malaysian billionaire tycoon Tan Sri Lim Goh Tong has died at the age of 90, following a short illness, leaving an estimated US$4.3 billion fortune. The tycoon handed over the running of an empire with interests in property, power generation, plantations, papers manufacturing and information technology. Genting's Hong Kong-listed subsidiary, Star Cruises, is the third-largest cruise operator in the world, while the group also controls Britain's biggest casino operator Stanley Leisure. He was a successful entrepreneur in Malaysia, even in the world.

In the first article “Southeast Asian Capitalists” shown that the sources of wealth of Tan Sri Lim Goh Tong is as diverse as his background. Tan Sri Lim, who hailed from China's Fujian province, was forced to leave school at the age of 16, after his father died, and began selling vegetable seeds to support his family. In 1937, he left Fujian for what was then British-controlled Malaya, where he dabbled in a host of businesses ranging from selling machinery to building and tin mining. Tan Sri Lim, who did not speak English and conversed with Malaysia's political elite in colloquial Malay, came up with the idea of a hilltop resort while working on a hydroelectric project in 1963. In the end, Tan Sri Lim Goh Tong received “Entrepreneurs of the Year” awards in 1985 for outstanding performance and contributions to the Malaysian economy.

Next, “Entrepreneurial Network in Malaysia” mentions that networking is very important in determining the success and survival of a business. Networking also allows entrepreneurs to access to various resources and opportunities that contribute to business growth. Entrepreneurs often need political connections to develop their enterprises, obtain license, and building business opportunities. Lim Goh Tong, the former Chairman of Genting Group, first developed a strong reputation through construction business, and then it could be argued that he obtained his casino operation license through his close relationship with the late Prime Minister Tunku Abdul Rahman.

The last article is “Insight of Chinese Economics Culture”. In this article, his eventual success was attributed to his entrepreneurial spirit, and he gave an insight into his style in his recent autobiography. "The Genting project fitted my idea of an ideal business," he wrote. "No one was interested in it, which meant no competition." When Lim Goh Tong came to Malaysia, he already shows the hallmark of a true champion. His weakness in language did not stop him in his negotiation of all of his business contracts. As a result of generosity, he gained more respect from others, include me. "He is a model of success, starting from scratch, and his achievements came through hard work" said Tan Sri William Cheng, who controls Malaysia's diversified Lion Group of companies.

Over the last four decades, entrepreneurship has become an increasingly important in Malaysia, even at global. It is perceived as necessary for growth, differentiation, and competitive advantage at the firm, regional, and national levels. Entrepreneurship appeals mainly to leaders and top management teams of small and large firms who use creativity and innovative to create, deliver, and capture value for their stakeholders. Entrepreneurship also appeals to personnel of regional economic development agencies that attract investments in productive market and economic growth. While the late of Tan Sri Lim Goh Tong had show us that opportunity recognition, prior experience, cognitive, creativity, social network and information acquisition are important in developing successful entrepreneurship behavior.