Philanthropist Koon appointed to Perak council

PETALING JAYA: Investor and philanthropist Koon Yew Yin (pic) and Kuala Lumpur Kepong Bhd CEO Tan Sri Lee Oi Hian were among seven people appointed to the Perak State Economic Advisory Council (SEAC).

The other council members are MK Land Bhd founder Tan Sri Mustapha Kamal, former Perak state secretary Datuk Seri Shamsudin Mat Dubi, former Mida (Malaysia Industrial Development Authority) deputy director-general Datuk J Jegathesan and Dewan Rakyat Deputy Speaker Nga Kor Ming.

In a statement last week, Perak’s Mentri Besar Ahmad Faizal Azumu said that the appointment of the seven new members were decided during its recent state meeting.

SEAC, comprising seven eminent persons from various sectors, will be chaired by former Bernama chairman Datuk Seri Anuar Zaini.

Ahmad said the SEAC was formed to help encourage investments into Perak in a more aggressive manner, apart from creating job opportunities and stimulating the growth of the state.

Eighty-five year old Koon was the co- founder of Gamuda Bhd, Mudajaya Bhd and IJM Bhd.

However, he is known more for his stock savviness and has quite a following among the investment community. Among investors, Koon is seen as a sort of ‘hero’ who understands the market well.

One of his more recent stock forays was Hengyuan Refining Company Bhd.

Meanwhile, Lee Oi Hian and his brother Hau Hian are listed at the Malaysia’s 15th richest in 2017 according to Forbes with a net wealth of RM4.25bil.

Oi Hian is better known for his controlling stake in KLK rather than their flagship entity Batu Kawan Bhd. Batu Kawan’s biggest investment is in KLK and it is often seen as a cheaper proxy to KLK.

Mustapha a director in MK Land, controls the company with a 39.77% stake held indirectly, together with a 7.6% interest held directly.

MK Land, which built its reputation on developing affordable housing and its flagship Damansara Perdana development, has about 4,908 acres of undeveloped land bank in the Klang Valley, Perak and Kedah.

Besides property development, MK Land also operates hotels and resorts and a water theme park as well as the provision of education services.