YTL Scion Fosters Faith-Based Culture in Business
The Wall Street Journal, 25 May 2009
I read and enjoy Warren Buffet and the usual collection of business-strategy books. I particularly like W. Chan Kim's "Blue Ocean Strategy." But the book I value the most is the Bible. Many of the best business practices we adopt as a [corporate] culture tend to be faith-based, and are found in the Scriptures.
New hires must master what we call the three languages: the language of God, the language of man and the language of machines. The language of God means integrating your character with God and being uncorrupted.
The language of man is the language of global business. You have to articulate, especially when you're a leader and have to motivate your people. It could be Mandarin in China, it could be English in Britain, and it could be Indian in India if you do business there.
Finally you have to master the language of machines, which is computer-based technology or machines that enhance your business productivity. At YTL we focus on these three characteristics and as a result have very little turnover of senior staff. And we are mindful never to over-hire so as to avoid any retrenchment cycles.
CNBC Interviews YTL's Tan Sri (Dr) Francis Yeoh
CNBC, 12 May 2009
Head of the YTL Group, Francis Yeoh was voted one of Asia Most Successful CEO's last year by Asia Money Magazine. He has a reputation for shrewd investments and picking up under valued assets. When our executive editor Alan Friedman sat down with him, he began by giving his take on the newly appointed Prime Minister in his home country of Malaysia.
Asiamoney Interview: Francis Yeoh explains YTL’s divine performance
Asiamoney, 23 February 2009
Well capitalised Malaysian conglomerate YTL Corp. is on the acquisition trail to pick up cheap assets in tough markets. But while Yeoh, who was Asiamoney’s top Malaysia executive in 2008, believes his Christian faith is responsible for YTL’s success, his business acumen has certainly helped. “I have always credited God as an inspiration and guiding light to this company. That I think is pervasive and I hope that will be taken into account,” the tycoon enthuses to Asiamoney.com, when asked how he got his company into such fine financial shape. “This short term-ism, this myopia, this tyranny of shareholders demanding a high profit every quarter, there’s so much wrong with that,” he adds. “If CEOs, investors had not thought like this, perhaps the world would not be crumbling.” I believe that if assets are good and historically cheap, we should buy them,” he says. “Like the Omaha oracle, you must look at the business, not the emotions of the market.”
YTL amongst Malaysia's 20 most valuable brands
The Edge, 26 November 2008
The YTL name commands a premium and has come to stand for innovation, attention to detail and increasingly, responsible corporate citizen. In addition to its track record for building high-quality houses and apartments, YTL also owns and manages a collection of internationally renowned, award-winning hotels and resorts throughout Asia. For Tan Sri Francis Yeoh Sock Ping, the strength and value of the YTL brand lies in its ability to deliver on its promises. It may sound basic, but YTL’s emphasis on quality and consistency has won it numerous awards, and built a brand so strong it now has 12 million customers on three continents.
“I am most proud of these three brands: Pangkor Laut Resort, Starhill Gallery and Wessex Water,” he says. “Pangkor Laut, for example, has won a slew of awards including the title of “number one resort in the world” from Conde Nast Traveller, UK (2003) while Starhill has led Forbes Traveller’s 2007 list of “Asia’s Amazing Malls”. Since our ownership, Wessex Water has ranked first in operating efficiency by industry regulator Ofwat for three years running (2004-2007), and has recently been awarded a Queens Award for Enterprise in the sustainable development category,” says Yeoh.
Yeoh also believes that a brand is successful only if the company behind it masters the ‘three languages’. “There’s the language of God: Integrity, honesty, morality. The language of man: Be articulate, be a leader, a manager with vision. And the language of machines: Be fully equipped with computer and tech skills,” he explains.
YTL Looks for Purchases With $3 Billion `War Chest'
Kuala Lumpur, 20 November 2008
YTL Corp., the Malaysian builder with water, property and power businesses from Asia to Europe, said it has a "war chest'' of 12 billion ringgit ($3 billion) and is hunting for acquisitions as asset values decline.
Paying It Forward
Singapore Tatler, 12 November 2008
In trouble economic times, it takes an enlightened businessman such as Francis Yeoh to suggest that greed is not good. Admitting he hadn't slept much the previous night because he was watching George Bush's $700-billion rescue plan being debated in the Senate. Yeoh is surprisingly upbeat. "I'm disappointed all the gatekeepers failed," he says. "The accountants failed, the bankers failed, the lawyers failed, rating agencies failed, and CEOS, they failed." But rather than gloating, Yeoh is reflective, saying the current crisis "is poignant and historic....a wake-up call."
It seems strange to hear someone who has been compared to Warren Buffet say: "We have got to put a stop to all this greed," but, then, Yeoh is not the usual businessman. It is the environment that really gets the business excited. Yeoh's green leanings are, he admits, "enlightened self-interest,” saying it is a Faustian bargain to be successful in business only to pollute the atmosphere. "All it takes for the environment to be destroyed is when good people do nothing.”
Chariots Of Plenty
Wealth Magazine, 9 May 2008
YTL’s accomplishments are rooted in consistency and an unrelenting belief that business must be a “force for good.”
Guardians Of The Fortune
Wealth Magazine, 3 May 2008
The requirements of entry for the fourth generation have been raised by one degree: While their parents needed at least one university degree, the youngsters must have two degrees before they can work at YTL.
"It's not easy for the fourth generation, who has tasted some wealth, to continue to understand the values we set forth. So, the bars are higher and they have to face it squarely, they can't run away. Much is given, much is expected," Tan Sri Francis explains.
Call of the Red Seas
Wealth Magazine, 25 April 2008
To deliver YTL's vision - world-class services at Third World prices - Tan Sri Francis proposed a gorundbreaking scheme: YTL would issue 15-year bonds in ringgit. Most importantly, it presented a viable financing model to the developing world. This debt-financing approach became the pin-up model for many other countries wanting to privatise their utilities sectors. YTL was mentioned in every major central bank report, academic study, infracstructure conference and the like. The Malaysia IPPs that won licences later also adopted a similar financing model. The first five raised more than $4 billion entirely from the domestic market, according to Euromoney, and it defended the IPPs from the US dollar's precipitous rise against the ringgit during the Asian crisis.
Starry, Starry Knight
Wealth Magazine, 23 April 2008
A rising Malaysian multinational is acquiring key assets worldwide, including high-profile acquisition in Singapore. The YTL group had previously ascended on the strength of its audacious deal-making, consistent ability to beat deadlines and the magnetic personality of its Managing Director, Tan Sri Dato’ Francis Yeoh. Can YTL make as much of a difference in established global markets?
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