Example of Islamic Entrepreneur in Malaysia

TAN SRI SYED MOKHTAR SHAH BIN SYED NOR AL-BUKHARY, THE SUCCESSFUL ENTREPRENEUR.

We can learn this entrepreneurial trait from Tan Sri Syed Mokhtar Al Bukhary which he was born in Alor Setar, Kedah in 1951. His family was come from Hadhramaut, Yemen. Before deciding to settle in Kedah, his father traveled to the all countries in Asia for his trade. In the middle of 40s, his parents decided to settle in Alor Setar, Kedah. Tan Sri Syed Mokhtar is the third child from seven siblings. He lives in a state of deprivation. Tan Sri Syed Mokhtar always helped his mother grow vegetables to get some income and expenses for the family. They sold it in the market at Jalan Telok Wan Jah. He also sells bread rolled in the same market. During breaks at his school, his father will find him and asked for his help to make bookkeeping. He has a lot of knowledge and experience while doing his work and daily activities.

           

As in 1970, his father's livestock business has suffered a setback due to the outbreak of foot and mouth. The disease was spread across to the southern Thailand, Kedah and Perlis. All livestock die without being able to be saved. Since the incident, Tan Sri Syed Mokhtar took over his father's business and made the decision that he would not engage in a rearing again. Starting from that, he decided to start selling the meat on a small scale.

He moved from town to town around Alor Setar to buy the unsold meat and then wrap the meat with ice and sell it back to Bumiputera businessmen and restaurants around Alor Setar. Tan Sri Syed Mokhtar has been success in his business and decided to go further promoting and develop his confidence in the business world. After that, he shifted to the transportation business. In 1972, he managed to get a permit for four lorries Class A and he received a loan of RM110,000 from MARA. Then, he used the loan to buy two lorries, Mercedes 911LS and he was opened the transport company called ‘Sentosa Transport Company’ and appoint a Cina’s clerk as the company's manager. The trucks used for his business of rice in Alor Setar and this company still exists until this day and now it has more than 40 lorries to import and export the rice in Malaysia.

Tan Sri Syed Mokhtar Al Bukhary also amaze entrepreneur that have great trait entrepreneur. The first one is initiative. For example, his success story in business began by helping his parents in cattle business around 1960-an. However, Tan Sri Syed Mokhtar Al Bukhary took other initiative by applying MARA’s assistance to start a lorry business in the 1970s.

  He do many type of business, the first one is commodities. He sold meat at Alor Setar market. Then, he continues with transportation. Afterwards, he goes to act of producing and making army uniform. This is exhibit that he had as great entrepreneur. Next is decisive. Here we can verify as Tan Sri Syed Mokhtar Al Bukhary establish Amtek Holding and Oriental Garments Uniform Division, the company that making shoes and army uniform. In addition, ethical consciousness. Even though Tan Sri Syed Mokhtar Al Bukhary is a famous millionaire, the humble character that he had shown can be the good example for another entrepreneur. Beside that, Tan Sri Syed Mokhtar Al-Bukhary is the founded of Al-Bukhary Foundation (Yayasan Al-Bukhary) which is a philanthropic organization founded by him.

Tan Sri Syed Mokhtar Al-Bukhary has been through many businesses in his life. He has been doing many businesses such as logistic, rice trading, food business which is Gardenia Company that make bread, plantation, infrastructure and many more. Tan Sri Syed Mokhtar Al-Bukhary is a versatile person because he can handle more than one type of business.

     Tan Sri Syed Mokhtar Al-Bukhary started by helping his father in breeding cow business and after that he starts sells the meats wholesale. He then moves on to rice trading business and many more. He never gave up in trying a new business because he tried to learn more business in order to be a versatile business man and now he is one of the richest people in Malaysia. By having these entrepreneurial traits, it has assisted Tan Sri Syed Mokhtar Al-Bukhary to be a successful person in entrepreneur world. He owns 51.8% share in Malaysian Mining Corporation via his wholly owned company, Syarikat Seaport Terminal (Johore) sdn. bhd, a subsidiary company Syarikat Indra Cita Sdn. Bhd.

His success story in business began by helping his parents in cattle business around 1960-an. However, this did not last long due to the outbreak of disease which hit their livestock. Hence, Tan Sri Syed Mokhtar took other initiative by applying for MARA’s assistance to start a lorry business in the 1970s. The lorry company which is known as Syarikat Kenderaan Sentosa (Sentosa Vehicle Company) now owns more than 40 lorries.

Known as a man with a vision, his efforts did not stop at that point. In 1974, Tan Sri Syed Mokhtar bought his first shop house under the hire-purchase agreement with Urban Development Authority of Malaysia (UDA). The next year, he expanded his business empire by establishing Shah Company, known as a rice supplier to FELDA, MARA Senama, Pernas Edar and Sergam Sdn. Bhd. after having succeeded in obtaining the rice trading license from Lembaga Padi Negara or BERNAS. Tan Sri Syed Mokhtar described his achievement in business was the outcome of government’s initiative in implementing the New Economy Policy (NEP).

Since then, Tan Sri Syed Mokhtar’s business continued to expand rapidly until he was awarded as one of the richest bumiputera corporate figure in Malaysia, received recognition from Malaysian Business as the seventh richest man in Malaysia in 2005 and recently named as the fiftieth richest man by Forbes in 2013.

Syed Mokhtar scoured markets around Alor Setar to buy ‎unsold meat from the vendors there. The meat would then be re-sold to bumiputera ‎traders in the surrounding area. ‎Although these were unsold meat, they were packaged carefully and  nicely, and kept on ‎ice to maintain freshness. He was always make sure his meat have good quality because he wants to make sure the unsold meat is harmless to the customer from diseases. Thus, using his experience in handling good quality products, Syed Mokhtar business received encouraging response from the public. This success ‎made him even more driven to expand the business. ‎

After establishing Syarikat Shah, he created Syarikat Bukhary, which is involved in the ‎rice and sugar business. He believes that rice and sugar business will gain big profit in the future. The company then expanded into Bukhary (KL) Sdn. Bhd. in 1977. The company won ‎many government contracts which were offered to bumiputera entrepreneurs at the time, ‎and based its operations in a four-storey shop lot on Jalan Pahang. ‎

In conclusion, from his background we can see and find out that how much he need to struggle for his life. Tan Sri Syed Mokhtar is a brave, patient man and has an ability to learn from mistakes. He try to stand on his feet and face all the problem by himself. He learns from the past and makes a new step forward to achieve the success. Therefore, this is a reason why and how he can be one of the billionaires in our country and be a successful entrepreneur.