Thursday, July 5, 2018

Book Review: Robert Kuok a Memoir with Andrew Tanzer

Robert Kuok Hock Nien is well-know businessman who ran mainly the palm oil and sugar business Wilmar and the hotel property business Shangri-La.

This book tells the tale of his early years in Johor Bahru, studying in Singapore Raffles College, and then returning to JB when the Japanese war broke out, so he didn't complete school. He was quite lucky to not get captured and earned a job in Mitsubishi during the Japanese occupation. Many chinese hated the Japanese but he didn't (for survival).

Luck was the recurring theme throughout his life, government appointed him sole distributor licenses, profiting in sugar trades, tariff protection from government, his mother's help with picking divination lots when he couldn't decide, an acquantaince that suggested the name Shangri-La for his hotel, buying prime land at discounts, living a long life despite working long hours, always rushing onto a plane, grew up smelling second smoke, smoked a bit, ... which are all lifestyle choices that are correlated with bad health.

Overall, I didn't feel that I learnt as much as from Philip Yeo's memoir, about making investments. Robert Kuok's memoir was more like how to clinch deal strategy -- put everything down and always arrive earlier than others.

He also gave his views on capitalist and communist societies. He is anti-greed, but acknowledges that greed is necessary to motivate people to work. Knowing when to stop will then be a matter of moral values. His thoughts on money is also quite similar to Warren Buffett where he said that he does not believe in leaving his wealth to his children. He sets up foundations and help the needy with the recurring income these investments are generating. He believes that if his children are like him, they won't need his money. If his children are not like him, then he will probably spoil them with his money.

I may not believe whole-heartedly that he is this very noble businessman who creates jobs and look after staff, but I do believe that his postscript message written on the last page when he was 94 years old in 2017 is genuine:

"I would like young people to take stock of what life on earth is really about. Do not confuse material satisfaction with happiness. Money cannot do everything for you. Distinguish between the real and the fanciful. Learn to live simply and, whenever you can, share your wealth with others. You are not alone in this world. There is immense wisdom handed down from ancient sages such as Laozi, who taught that to live a contented life, one should eschew greed and live as simply as possible and in harmony with nature."

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