The 56-year-old businessman
received the award on Monday for his efforts 'in promoting peace through
business and championing ethical and socially responsible business practices
both at home and around the world', YTL said in a media release on
The Business for Peace Award
is the highest distinction given to a business leader for outstanding
accomplishments in the area of ethical business.
Mr Yeoh was also made a
'First Among Equals' honouree, the first time this honorary title has been given
to an Asian businessman.
Business for Peace
Foundation chairman Per Leif Saxegaard said that under Mr Yeoh's stewardship,
YTL has grown 'from a single-listed entity to become one of the largest
corporations in Malaysia'.
'While YTL's success clearly
demonstrates business acumen of the highest order, it is Francis Yeoh's
philosophy about how business should be conducted which has brought him honour,'
At the awards ceremony, Mr
Yeoh said in a speech that he was humbled by the recognition from the
international community. He encouraged companies to flee 'short-termism' and
avoid being driven by instant rewards, quick fixes and unethical
He also urged firms to adopt
corporate social responsibility as part of the corporate DNA, instead of mere
expediency and gaining media exposure.
Mr Yeoh has helped steer YTL
into an international conglomerate that has pioneered many projects worldwide.
In Malaysia, he oversaw the recent launch of the country's first nationwide 4G
network that covers almost 60 per cent of the country, as well as the
establishment of a high-speed railway in Kuala Lumpur.
Among the many people to
offer their congratulations over the past couple of days was Temasek Holdings
chief executive and executive director Ho Ching, who said: 'The award is
recognition of Francis Yeoh's inspiring leadership, pioneering spirit and
dedication to create a dynamic global business group, respected not just in
Malaysia but around the world.'