Richest People

Tan Sri Yeoh Tiong Lay – YTL Corp (Main Market)

TAN SRI YEOH TIONG LAY

Known as one of the most powerful companies in Malaysia, the YTL Group is probably one of the most prominent and largest conglomerates today. It is currently being managed by Tan Sri Francis Yeoh Sock Ping who took over the helm from his father Tan Sri Yeoh Tiong Lay when he was only 24. Together with his 4 brothers, Datuk Yeoh Seok Kian, Datuk Yeoh Seok Hong, Datuk Michael Yeoh Sock Siong, Datuk Mark Yeoh Seok Kah, Francis has steered the company into becoming a major player in the property development and leisure industries around the world.

Francis recently announced that part of the expansion plans of YTL Corp is to turning it into a global power by the year 2020 and with the current portfolio and success under the company’s belt, it seemed to be a vision which is truly achievable. But the story of YTL Corp dates back to 1955 and would be attributed to the hardwork and foresight of his father Tan Sri Dato’ Seri Dr Yeoh who first establishing a construction company then. This would eventually be the anchor business for YTL Group where it is still very much in the production and manufacturing of building materials to complement its property development and leisure sectors.

The success of YTL however became more prominent when Francis took over where he ventured into the utilities sector by being the first IPP (independent power producer) in Malaysia and this became a major mover for YTL in moving forward. In time, it would become one of the most respected companies in the world today particularly due to the fact that it was totally resilient and robust and stood through the test of the economic downturn in 1998. In fact, it grew bigger where it eventually bought over and managed a sting of world-class hotels and acquired companies which were not performing. Today, YTL has ventured into entertainment as well as into the telecommunications industry through its YES 4G brand.