4 Malaysians in Forbes Asia's philanthropy list
Business Times - 24 Mar 2008
EXCLUDED incumbent Barisan Nasional Kota Baru Member of Parliament Datuk Mohd Zaid Ibrahim is one of four well-known rich Malaysians picked as heroes of Forbes Asia's inaugural philanthropy list. The other three generous Malaysians are businessman Tan Sri Syed Mokhtar Albukhary, 56, retired Sarawakian politician and businessman Leonard Linggi Tun Jugah, 67, and Hishamudin Ubaidulla, 52. Forbes Asia has released its first Heroes of Philanthropy list in its March 10 issue business magazine in honour of some of Asia's most generous and interesting philanthropists. “With Asia booming, newly created wealth is increasingly being earmarked for altruistic causes”, Forbes Asia says in a statement today. It said for the first time this year Forbes Asia had put together a list of 48 philanthropists - four each from 12 countries. It says Zaid, who owns the country's largest law firm, Zaid Ibrahim & Co, started the Kelantan Foundation for the disabled in 1998, which serves 2,400 people suffering from Down Syndrome, cerebral palsy and other disabilities. Syed Mokhtar, who controls Malaysia Mining Corp, and holds big stakes in Johor Port and other businesses started the Albukhary Foundation, a Muslim charity that assists the needy, regardless of colour in 1996. He is the sole donor to the foundation. Forbes Asia says the businessman gave the foundation US$30 million in 2006 and US$25 million last year, which funds remedial classes in English, Science and Mathematics for 20,000 under-achieving students from poor rural families each year. The foundation hopes the extra schoolwork “will help bridge the educational divide between the rich and poor.” It also runs a college scholarship programme for 300 students from more than 40 countries. Linggi, who started business that now includes real estate, plantation, shipping, hotel and other companies is virtually the main contributor to the Tun Jugah Foundation which focuses on preserving the culture of the Ibans, an indigenous group on Borneo, says Forbes Asia. One of the foundation projects is to conserve and promote Iban oral traditions and literature and in 2003 it began compiling the first Iban dictionary. Hishamudin oversees Yayasan Ubaidi, a foundation funded entirely with profits from commercial buildings and the sale of land bought by his father years ago. The foundation helps families who could not make ends meet, bread winners not earning bread but not people who fell into debt because they were reckless with their money, Hishamudin was quoted by Forbes Asia. The foundation pays some medical expenses, helps single mothers pay for tertiary education, and assists hospitals that could not afford equipment. “We don't pretend these are the 48 biggest givers and that would be an impossible list to compile unless each person agreed to let us peek at his or her bank records,” Forbes Asia says. Forbes Asia said the list is somewhat subjective and it aims to identify not only some of the largest donors but also some of the most interesting and generous people who might not make one of our rich lists but who put a hefty share of their money into much-needed, and sometimes unusual, projects. Among other Asians on the list is Chinese billionaire, Shi Zhengrong, who funds the construction of houses for the poor in his hometown of Yangzhong in China, film star Jet Li, who uses his star power to raise money for mental health and disaster relief and Hong Kong tycoon Li Ka-shing, who has donated or committed some US$1.1 billion to philanthropic causes.