Noah, philanthropist who enriched the lives of many

Source From (Business Times): http://www.btimes.com.my/Current_News/BTIMES/articles/noah25/Article/

Published: on 25 Jun 2012

A LOCAL entrepreneur, who has done well for himself both here and overseas, recently related to me a survey conducted to identify the common traits of Taiwan's three richest personalities.

The survey identified the relative lack of selfishness as a common quality among them.

According to the survey, the least selfish of the three also happens to be the richest man in Taiwan.

The survey result may or may not dislodge the usual attachment of negative stigmas to entrepreneurs, but it gives some food for thought that just maybe, one has to be generous to be really successful.

There are already many instances to dismiss the common notion that entrepreneurs are selfish by nature. A recent famous example is Warren Buffet begging the US Congress to tax him more.

Buffet and fellow super rich, Bill Gates, are known for their generosity and extensive philanthropy work through charitable foundations set up under their name.

In Malaysia, the super rich also do show their generous quality. Berjaya founder Tan Sri Vincent Tan, for example, has pledged to transfer RM600 million worth of shares in two of his companies to the Better Malaysia Foundation, which he set up for charitable causes.

The late Tan Sri Mohamed Noah Omar, a successful entrepreneur in his own right and the grandfather of Prime Minister Datuk Seri Najib Razak, also displayed such philanthropic trait.

Although better known as one of the leading founding figures in Umno and the first Speaker of the Dewan Rakyat (1959-1964), he also made his mark in the corporate world.

Together with Tan Sri Lim Goh Tong, he formed a private company called Genting Highlands Sdn Bhd to develop a highland resort that today is world renowned.

Noah was also a director of MUI (Malayan United Industries ) Group in the 1970s before he was appointed its chairman in 1980.

MUI at the time was involved in retailing, hotels, food and confectionery, financial services, property, travel and tourism.

In the 1980s, Noah became the chairman of highly diversified Supreme Corp Bhd (now part of the Lion Group). Supreme was then involved in property, agro-based activities such as palm oil and financial services such as insurance.

Apart from that, he was also Esso Malaysia Ltd director (1975) and the first chairman of the United Malayan Banking Corp Ltd.

Although frugal by nature, as related by Najib in his speech at a dinner held in honour of his late grandfather at the Putra World Trade Centre, Kuala Lumpur, last week, Noah was generous with his wealth.

The Noah Foundation that he set up has contributed to the well-being of many.

"From there, we and many others received many donations and thanks to the donations, we also had the opportunity to pursue our studies," said Najib, sharing his heartfelt memories of his late grandfather in his speech.

Noah (1898-1991) was one of the leading figures in the country's political history but through his corporate life, he and many other benevolent entrepreneurs showed that business is not just about amassing wealth but also giving back to society.