×
Menu
Search

Malaysian Casino King, Lim Goh Tong, passed away at 90



Pin It


Oct 23 2007
Facebook
Twitter
Digg
Pinterest
Linked In

Malaysia’s third richest man and the founder of Genting Group (KLSE: GENTING, stock-code 3182), Tan Sri Lim Goh Tong, passed away at 11.20am Tuesday at the Subang Jaya Medical Centre. The tycoon who was 90, leave behind a diverse business empire worth US$22 billion. He survived by wife Puan Sri Lee Kim Hua, and their six children and 19 grandchildren.

The fifth child in a family of seven children, Lim migrated from China’s Fujian province in 1937 at the age of 19 with only a small suitcase and US$175. He battled against the odds to build Casino King Lim Goh TongGenting Highlands, a casino hotel resort that opened in 1971 and flourished into a Las Vegas-style resort. It is the country’s only casino and includes five hotels (namely Genting Hotel, Highlands Hotel, Resort Hotel, Theme Park Hotel and First World Hotel), two apartment blocks (Ria and Kayangan Apartments), Awana Genting Highlands Golf and a theme park.

He made his first fortune by trading in second-hand heavy machinery in the 1940s after the end of Japanese occupation, and later ventured into mining. While working on a hydroelectric power project in 1964 in Cameron Highlands, a popular hill resort patronized mostly by British colonials at the time, Lim dreamt of building a similar hill resort nearer to the country’s biggest city, Kuala Lumpur, as a getaway for local residents.

Lim Goh Tong's DreamHe found the remote 5,900-feet (1,800-meter) Ulu Kali mountain, just about an hour’s drive from Kuala Lumpur. In 1965, he set up the Genting Group to transform the dense virgin tropical jungle into one of Malaysia’s top holiday destinations that attracted 18.5 million visitors in 2006.

Besides the flagship casino in Malaysia, Genting group’s empire includes Singapore-listed Genting Interntional, Hong Kong-listed Star Cruise Ltd., 46 casino properties in Britain under the Stanley Leisure group and casinos in Australia and Philippines. Late last year (2006) under the stewardship of his son Lim Kok Thay, Genting International-Star Cruises consortium won the Singapore’s Sentosa integrated resort project and is set to open a casino resort by 2010 that will include a Universal Studios theme park, a giant oceanarium and film production facilities.
Genting HighlandGenting group has since expanded and diversified from its initial hotel and resort activities to plantations, properties, paper manufacturing, power generation, oil and gas, electronic commerce and information technology development. With the smooth and successful transition to his son, Lim Kok Thay, who has proven himself with great business acumen, Lim Goh Tong can rest in peace knowing his empire is in good hand of a capable leader.

Other Articles That May Interest You …



Pin It
FinanceTwitter SignOff
If you enjoyed this post, what shall you do next? Consider:



Like FinanceTwitter Tweet FinanceTwitter Subscribe Newsletter   Leave Comment Share With Others


Comments

indeed sophie … the country lost a great man …

It’s a day for mourning when a great entrepreneur like Lim Goh Tong is lost. The type of man with great business acumen, the ability to create an idea, and build an empire that not only generates wealth for him, but provides jobs to the community. His resorts will remain as attributes to his foresight, dedication, and smart business abilities.

Regards,
Jonathan Frye
Blog: Entrepreneurship

[…] Malaysian Casino King, Lim Goh Tong, passed away at 90 […]

Leave a Reply

(required)

(required)(will not be published)