China sanctions US House Speaker Nancy Pelosi and her immediate family members following her Taiwan visit
Speaker of the US House of Representatives Nancy Pelosi Photo: VCG
Chinese Foreign Ministry announced Friday to sanction US House Speaker Nancy Pelosi and her immediate family members because she disregarded China's serious concern and firm opposition and insisted on visiting China's Taiwan region.
It seriously interferes in China's internal affairs, undermines China's sovereignty and territorial integrity, tramples on the one-China principle and threatens peace and stability in Taiwan Straits, Foreign Ministry Spokesperson said.
Chinese netizens on Friday heatedly discussed the detailed maps of Taiwan island cities provided by Baidu and Gaode map
services, which allegedly became newly available since Thursday, the day the People's Liberation Army kicked off live-fire missile drills
surrounding the island following US House Speaker Nancy Pelosi's reckless visit to the island.
160+ countries, accounting for over 80% of the world's population, have reiterated their commitment to the
one-China principle after Pelosi's provocative visit to the island of Taiwan.
China calls military action in Taiwan Strait "justified and necessary" countermeasures
The drills serve as rehearsals for the blockading of Taiwan and the reunification of the island
On Tuesday night, US House Speaker Nancy Pelosi sneakily landed in China's Taiwan island like a thief, detonating the mine she has thrown over the situation in the Taiwan Straits and China-US ties. China has repeatedly warned on how egregious the nature of the visit and how serious the consequences could be. But Pelosi turned a deaf ear, neither did Washington take effective measures to stop it, which triggered a new round of tension and severe challenges across the straits.
Like a "political god of plague," Pelosi didn't do any good to the region except bringing risks and tensions to Taiwan. Some media in Taiwan have revealed that the DPP authorities had secretly withdrawn its invitation to Pelosi, but had to continue to arrange the reception under the censure of the US politician. This piece of news is quite intriguing, as it vividly demonstrates the DPP authorities' low and shady mentality and Pelosi's peremptory and selfish attitude toward Taiwan. It is a true microcosm of the relationship between the US and Taiwan. It is also a disgrace and sorrow, to which the reunification of the two sides of the Taiwan Straits will put a complete end.
line" ceases to existThe PLA drills around Taiwan island are unprecedented:
-conventional missiles are expected to fly over the island for the 1st time
-PLA forces will enter area within 12 nautical miles to the island
-"median
US House Speaker Nancy Pelosi is expected to arrive on the island of Taiwan on Tuesday night according to foreign media reports, with rising concerns and opposition over her trip within the island and increasing military activities by the Chinese mainland, the Taiwan authorities and the US military in the region. Analysts from both sides of the Taiwan Straits said this risky move will totally change the situation in the region, while the mainland will more actively dominate and speed up the reunification process with comprehensive measures including military and political actions, and these actions will let the US and the secessionist Democratic Progressive Party (DPP) authorities feel the pain.
There are many options on the table for China to speed up the reunification process. These could include striking Taiwan military targets, just as the PLA did in the previous Taiwan Straits crisis, pushing new legislation for national reunification, sending military aircraft and vessels to enter the island's "airspace" and "water areas" controlled by the Taiwan authorities and ending the tacit cease-fire with the Taiwan military.
Whether Pelosi can make her trip to Taiwan happen or not, there is no reason for China to be nervous, because such a political show will not change the overwhelming advantages, especially the military one, held by the mainland against the Taiwan authorities and the US in the region. Nor will the trip provide any possibility of "Taiwan independence," and it cannot change the unshakable hard fact that Taiwan is part of China, said experts, noting that what China needs to do is to use this incident to maximize its advantage and keep pushing the reunification process.
Hua Chunying, a spokesperson of the Ministry of Foreign Affairs, said at a routine press conference on Tuesday that "it was the US who takes the provocative action first and has caused the escalation of Taiwan Straits tension. The US should and must take full responsibility for this."
Military preparations
Both of aircraft carriers of the PLA Navy have reportedly moved out from their homeports respectively amid Pelosi's possible visit to the island of Taiwan, which media reported could happen on Tuesday evening.
The aircraft carrier Liaoning on Sunday embarked on a voyage from its homeport in Qingdao, East China's Shandong Province, and the aircraft carrier Shandong on Monday set out from its homeport in Sanya, South China's Hainan Province, accompanied by a Type 075 amphibious assault ship, media on the island of Taiwan reported on Tuesday.
Foreign commercial satellite imageries obtained by the Global Times on Tuesday also show that the aircraft carrier Liaoning was not in its homeport on Sunday, a Type 075 amphibious assault ship was sailing in the South China Sea on Sunday, and the aircraft carrier Shandong was sailing in the South China Sea on Monday.
Some analysts said that as Pelosi's aircraft may enter Taiwan's self-claimed "air defense identification zone" along the east coast of Taiwan after departing Malaysia, the Chinese mainland vessels appeared earlier to get into position and are closely monitoring Pelosi's route.
A military expert who asked for anonymity told the Global Times that with the participation of the aircraft carriers, the PLA could conduct more effective intercept operations, because it will take longer for fighter jets to be launched from airports in the mainland to arrive in the areas to the east or south of Taiwan island, while the shipboard aircraft will be more flexible as long as the fleets have arrived in the relevant region.
Citing an anonymous source, Reuters reported on Tuesday that several PLA aircraft flew close to the "median line" of the Taiwan Straits on Tuesday morning, and Taiwan-based outlets said two Chinese mainland guided-missile frigates and a survey ship sailed from north to south through Yonaguni Island waters, heading east of Taiwan island.
As of Tuesday noon, flights at airports in several cities in Fujian Province, including Xiamen, Fuzhou and Quanzhou, have been partially canceled, according to Xiamen Airlines, citing air traffic control.
US military forces are also taking actions. Four US warships, including an aircraft carrier, were positioned in waters east of the island on "routine" deployments, Reuters reported on Tuesday.
Aircraft carrier the USS Ronald Reagan (CVN-76) and big deck amphibious ship USS Tripoli (LHA-7), with Marine F-35B Lighting II Joint Strike Fighters embarked, are operating in the vicinity of Taiwan, on the edge of the South China Sea, according to the August 1 edition of the USNI News Fleet and Marine Tracker.
A Pentagon spokesperson told USNI News on Monday that the ships were operating normally in the region and would not detail force protection measures for the visit of the third-highest ranking US official to the region.
Concerns within the island
But there is still a possibility that Pelosi could eventually land on the island due to complicated reasons, as Taiwan media also reported that due to security concerns, the DPP authorities once withdrew the "invitation" to Pelosi, but due to Pelosi's pressure, the authorities eventually compromised and make arrangement for her trip.
Many Taiwan web users complained how Pelosi could be so arrogant and bossy, to force Taiwan to play in a show with her. "After the show you will go back to the US, but what about the mess you leave here in Taiwan?" said a web user.
Hung Hsiu-chu, former chairwoman of the KMT, the major opposition party within the island, said there are two different views on Pelosi's trip to Taiwan - one group do not want Pelosi to come and do not know why she would come as this could only add conflicts for the Chinese mainland, the US and Taiwan. Another group think that if Pelosi wants to support Taiwan secessionism, she could let the House pass an act to recognize "Taiwan independence," so why would she come to the island to create such a big mess?
Some also consider that the US is tolerating Pelosi's risky move to test the bottom-line set by the Chinese mainland, Hung said, noting that "God bless, hopefully nothing bad will happen."
Taiwan Taoyuan International Airport received a threatening letter on Tuesday morning which claimed that "three explosive devices have been placed at the airport to stop the US House Speaker's visit to Taiwan," media reported. The New Party, a pro-reunification political party in the island, and some civil society groups plan to protest at the Grand Hyatt Hotel in Taipei where it is believed Pelosi will stay if she visits the island, according to media reports.
The DPP authorities and the many senior politicians are keeping silent without any high-profile preparation for welcoming Pelosi, as analysts said this reflects the high concerns within the island. Pelosi's visit is creating great troubles but due to the weak position of the DPP authorities in front of the US, the island must cooperate and has no room to make independent decisions.
What the mainland can do
Chinese analysts said the struggle between China and the US at this point is about dignity and concrete strategic interests, but the latter is much more important, so China will not merely focus on playing a game of chicken and hawk with Pelosi, as changing the whole situation of the region is much more significant and valuable.
The Chinese mainland really knows the importance of "strategic patience," just like when many people expected that China would crack down on the Hong Kong turmoil in 2019 with force when rioters attacked the central government's liaison office, but the facts prove that China did not act in that way but eventually realized a land-slide victory to reinforce its governance in Hong Kong. "So this time, China will teach the US a lesson again, as it will use US mistakes to comprehensively change the Taiwan Straits situation, just as it did in Hong Kong in recent years," said a Beijing-based senior expert on international relations who asked for anonymity.
Wang Jiangyu, a professor of law at the City University in Hong Kong, said China will use this incident to strengthen its sovereignty claim over Taiwan. "For instance, sending squadrons of military aircraft to enter the 'airspace' of Taiwan, or sending military vessels to enter the 'water areas' controlled by the Taiwan military," he said.
These are unprecedented acts of declaring sovereignty over Taiwan, and if China can send its signal of determination to effectively contain the provocations made by the US and other Western countries, the situation will be in favor of the Chinese side in the future, Wang said.
Lü Xiang, a research fellow at the Chinese Academy of Social Sciences, told the Global Times on Tuesday that China's reaction will not just a momentary action but will consider the whole security mechanism of Taiwan.
"The Chinese mainland could exercise its sovereignty and rights of control over the airspace on the island and adjacent sea areas around the island, to make sure there will be no another case like 'Pelosi's visit' that could happen again, and to better safeguard national sovereignty," he said.
Song Zhongping, a Chinese military expert and TV commentator, said based on the experience of the previous Taiwan Straits crisis, the PLA will strike Taiwan military targets but will not directly fire at US targets, so it is possible that the PLA will strike some Taiwan military targets this time as well, and the mainland could also consider speeding up legislation for a national reunification law and even publish a timetable for reunification which will impose real pressure on the US and Taiwan authorities.
Scammers keep getting bolder and bolder with their extortion methods. From impersonating landlords to illegal debt collection tactics, there is no shortage of ways scammers will try to separate you from your money. Be aware of these five red flags when getting on the phone, checking your email, or using social media. This can help you avoid getting trapped in a conversation with a scammer in the first place.
Whether it’s through email, text, phone calls or direct messages, scams seem to be everywhere on the internet. Not all scams are obvious and
many specifically target small business owners. Learn how to recognize a scam, protect your business and know what to do if you become a victim
of a scam.
Being forearmed with knowledge is key to not falling prey to well-trained scammers
Arm yourself with knowledge to identify a swindler
RIGHT before my eyes, I witnessed my friend falling for a classic Macau scam over the phone.
The call from a “government official” had him hooked. Frantically, I gestured to my friend to end the call but he was like a man possessed.
Someone on the other end of the line, claiming to be a government official, informed my worried friend that he had been implicated in a crime of sorts and the only way to escape the consequences was to transfer his money into a “safe account”.
After 45 minutes on the phone, he sent RM5,000 to one such bank account, and this happened on his pay day!
Recalling the incident, my friend said the caller was so convincing and believable that it was hard to cut the line.
This incident came to mind when the long arm of the law finally caught up with Tedy Teow, the founder of MBI (Mobility Beyond Imagination) well-known for its superlative money-making scheme.
He was detained in Thailand about a week ago and is believed to be wanted for questioning over several money-laundering cases in a few countries.
From what I could tell, the news failed to generate much interest on the ground, especially in Penang where the scheme used to have a large number of followers.
It could be that many of his victims were resigned to the fact that their money was as good as gone, even though Teow got arrested.
I have many acquaintances who put money into MBI. A few earned some returns. Most did not.
Now, it is “successful” Macau scams that are dominating the chatter in coffeeshops, offices, watering holes and messaging groups.
Indeed, teachers, engineers, doctors and even a politician were among the prized scalps of these so-called officers from banks or government and law enforcement agencies.
In May, a businessman from Port Dickson with a net worth of over Rm100mil lost a record Rm21mil in one such scam after he allegedly revealed his bank Transaction Authorisation Code (TAC) numbers to a “bank official”.
A sizeable number of scam victims were retirees who lost their hard-earned savings.
As pointed out in one news report, these scammers actually go through a month-long boot camp conducted by professional trainers before they are sent out for con jobs.
Psychology, negotiation skills, the art of persuasion, they learn it all.
They go through gauntlets of role-playing, with one being the “victim” and the other the scam caller, all under the watchful eyes of the trainers.
It has become challenging these days for lawmen to outfox the syndicates which have members even sitting for exams before being certified competent enough to man scam call centres.
And now we hear of increasing cases of dubious bank transfers: money being unknowingly transferred out of savings and fixed deposit accounts after victims were said to have downloaded phone apps.
Protect yourself by not downloading apps from dubious sites!
Then there are the online lovers to whom the lonely give their money even though they have never met face to face.
For those not in the know, this actually happens gradually.
First, the amounts asked for are small. These are quickly returned with a small but appreciable profit. Only after trust is established will the scammer ask for the big amounts.
The situation has never been more urgent as there are still victims who fall prey to such tactics almost on a daily basis.
If you get a call from a scammer, stay calm and rightfully hesitate when asked to reveal your personal banking and user login details.
In the course of a true fraud investigation, government and law enforcement agencies will not transfer calls among themselves. Bank Negara will not transfer your calls to Bukit Aman and vice versa, and never call back the number that was given.
Remember, the police will never threaten to arrest you over the phone; they prefer to do it face to face.
And if it’s a pre-recorded message, just hang up.
Most importantly, if you are a law-abiding citizen who has done nothing wrong, there is indeed nothing to fear.
There is a need for a rational or more balanced TIP measurement for Malaysia.
MANY Malaysians are, by now, aware that Malaysia sits on Tier 3 of the US State Department’s recently released 2021 Trafficking in Persons report.
This is the second year running that we’ve been placed in the bottom rank and it’s hard to accept or even fathom.
Tier 3 countries are those which don’t adhere to the minimum standards and fail to make significant efforts to comply.
Unbelievable as it may sound, Malaysia has been dumped together with the likes of Afghanistan, Myanmar, Iran, North Korea and Eritrea, among others.
And Curacao, which only a search on the Internet revealed its location and informed me is a Dutch Caribbean Island.
Naturally, Russia and China – the two enemies of the United States – grace Tier 3, too. No prizes for anticipating those rankings.
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While Malaysia isn’t exactly the paragon of labour laws, especially for migrant workers, we really shouldn’t accept this report as the gospel truth.
Unfortunately, there’s not much we can do because this is a report from the very powerful US of A, but we should oppose it, nevertheless, even if the government’s silence is hardly exemplary.
The TIP report may have irked us but we have little choice except to face the implications of it.
After all, the US is a big trading partner at No 17 spot with bilateral trade in goods at US$71.4bil (RM317.8bil) in 2021.
China has been Malaysia’s No 1 trading partner for the last 13 consecutive years hitting US$176.8bil (RM786.8bil) in 2021.
The impact of this report is serious because any form of bans or seizure of our palm oil and rubber gloves, due to allegations of forced labour, would cost us millions and a dented reputation.
The 634-page report even has a section on the powers of the US president, which allows him to penalise errant countries if he deems necessary, and his jurisdiction covers a wide area.
Most of us would also not take the trouble to find the link to the lengthy report and read the contents in its entirety, including politicians and journalists who have freely offered their opinions.
It’s hard to comprehend, especially when, with due respect, the Philippines is in Tier 1. In Tier 2, the notable countries include Benin, Bangladesh, Burundi, Congo, Guatemala, Ecuador, Gambia, Liberia, Mozambique, Niger, Sierra Leone, Guatemala, Cote D’Ivore (Ivory Coast), Nigeria, Rwanda and Lesotho.
Tier 2 countries are those whose governments do not fully comply with the US Victims of Trafficking and Violence Protection Act’s minimum standards but are making significant efforts to bring themselves into compliance.
The Tier 2 watch list includes Burkina Faso, Cameroon, Chad, Comoros, Djibouti, El Salvador, Ethiopia, Gabon, Eswatini (ex-Swaziland), Mali, Guinea and more.
And Malaysia is in Tier 3 – far away from some of these countries, where human lives mean nothing. Something’s wrong here.
So, how does the US define violations of human trafficking? They include forced labour, prostitution, imposition of debts, restrictions of movement, contract violation, wage fraud, assault, passport retention and threats of deportation.
At page 364, the report says, “the government of Malaysia does not fully meet the minimum standards for the elimination of trafficking and is not making significant efforts to do so, even considering the impact of the Covid-19 pandemic on its anti-trafficking capacity; therefore, Malaysia remained on Tier 3.”
But it concedes that “the government took some steps to address trafficking. The government amended its anti-trafficking law and Employment Act to include more expansive definition of forced labour, convicted more traffickers than the previous reporting period; issued more freedom of movement passes for identified victims in government-funded shelters, increased the number of interpreters and victim assistance specialists (VAS) to assist victim through judicial process, and adopted a five-year national action plan.”
The sectors mentioned involved trafficking victims such as household workers, and those in palm oil and rubber manufacturing sectors.
The TIP report hardly had the good grace to use the word “allegedly” in many instances in the report. Instead, it expects everything to be taken as fact without evidential backing.
It harps a lot on employers holding the passports of workers. However, most Malaysian employers have long known that workers who run away are barely perturbed about losing these documents.
The impression given is that their embassies issue replacements with minimum fuss.
Employers have suffered huge losses signing contracts to recruit foreign workers – only to see them run away to another employer for higher wages.
Certainly, our weaknesses need to be addressed. Many may be mere allegations and even cultural differences in the American interpretations and definitions, but there are many areas in which we need to improve.
Fine-tuning the law and going after corrupt officials are surely matters of concern.
Malaysian employers have expressed disappointment that the revisions of the Malaysian Sustainable Palm Oil (MPSO) certification scheme for palm oil plantations to improve workers’ rights, had not been acknowledged in the TIP report.
The MPSO revisions included clear emphasis on worker rights. But why did the TIP report ignore these changes, invariably raising suspicion to whether there was a predetermined conclusion for the report on Malaysia?
“The report is also clear that it does not take responses by non-governmental and commercial sectors into account. In other words, it is supposed to be a critique of government policies.
“There is a problem with this approach; sectors that are doing the right thing – and even attempting to remedy the situation – are nonetheless penalised for their actions,” reads the rebuttal from Malaysian Palm Oil Labor Facts.
It said the report “appears to be authored by the Fair Labor Association – an NGO that many of Malaysia’s plantation companies have engaged with directly to improve labour rights situation in Malaysia” and “in fact, the highlights that one of the recommendations that the TIP report made to Malaysia was greater engagement with NGOs – something the industry was already doing.”
It pointed out that in one entry in the TIP report, it used “the same quote for three years running,” so, “does this mean the TIP report has just become something of a box-ticking exercise?”
The TIP report is admittedly useful, but the US also needs to acknowledge that many steps have been taken to improve human and labour rights, especially in the palm oil sector.
Malaysia also recently formally ratified the International Labour Organisation forced labour convention, known as Protocol 29, to commit Malaysia’s efforts to eliminate forced labour.
Last year, Malaysia even signed up with Alliance 8.7, a global partnership to accelerate efforts to eradicate force labour, modern slavery and child labour around the world.
Malaysia depends on oil, gas and palm oil, which have become the life savers of this country, and these commodities have helped improve the lives of many Malaysians, especially for those from the rural areas.
The Gross Domestic Product from the palm oil industry, according to 2020 figures, was estimated at RM36.87bil.
More than 650,000 smallholders and over a million people rely on the palm oil industry as their source of income.
Malaysia is also a net exporter of crude petroleum as it exported over RM53bil worth of petroleum in 2020.
But palm oil producers seem to have a harder time with continuously bad press and unfair tactics applied by European countries.
Basically, this is just a bitter fight between palm oil, sunflower oil and soybean, of which the US is the world’s leading producer.
Deforestation and its impact on animals have always been emotive issues used effectively against the palm oil industry – of which Malaysia and Indonesia make up the bulk of.
In the peninsula, oil palm planted area in 2021 covered around 5.74 million hectare (45.5%), Sabah (26.6 %) and Sarawak (28%).
Although Johor covers about 699,217ha, it is much lower than Pahang at 755,906ha, but the former has found itself in the spotlight recently. Palm oil is not even Johor’s main revenue source.
No one has, however, reported that elephant paths have been set up in Johor plantations to ensure these animals have access to food, since planters are aware that if their homes are affected, their plantations, too, would be compromised.
Two recent issues – the claims by the Sulu heirs on Sabah and the TIP reports – have certainly affected Malaysia.
Instead of jumping on the naysayer bandwagon, which seems fashionable to some of us, it’s time Malaysians rally to defend our country.
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Wong Chun Wai began his career as a journalist in Penang, and has served The Star for over 35 years in various capacities and roles. He is now group editorial and corporate affairs adviser to the group, after having served as group managing director/chief executive officer. On The Beat made its debut on Feb 23 1997 and Chun Wai has penned the column weekly without a break, except for the occasional press holiday when the paper was not published. In May 2011, a compilation of selected articles of On The Beat was published as a book and launched in conjunction with his 50th birthday. Chun Wai also comments on current issues in The Star.
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Corporate giant: ‘The Tree Whisperer’, the official biography of Tan Sri Dr Lee Shin Cheng, founder of IOI Group, was published recently,
three years after his death. –YAP CHEE HONG/The Star
Author: Lee Hoong Lian Published Date：2022/6 Language： English Number of pages: 448 pages ISBN：9789672949206
The Official Biography of Tan Sri Lee Shin Cheng, founder of IOI Group
HE lived a frugal life despite his fortune of billions and had no interest in or knowledge of luxury brands.
The late Tan Sri Lee Shin Cheng was more comfortable in his simple shorts while at his sprawling palm oil estates. True to his nature, he even showed up at the office in the evenings in his modest attire.
In fact, his shirts were often less than RM100 each and for 30 years, he carried a grey Samsonite briefcase bought in the 1980s.
Yet, he had no qualms about contributing millions of ringgit towards Chinese education, especially to the development of the centuries-old old Kuen Cheng High School and Shin Cheng (Harcroft) Primary School.
He also donated 30 million yuan (RM20mil) to Xiamen University Malaysia without hesitation.
The Kuala Selangor born Lee dropped out of school twice – once while in primary and later during secondary level – and was denied jobs in rubber estates, run by the British then, because he couldn’t speak English fluently.
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Lee on his walkabout around his greenfield plantation in Sabah.
He was turned down for a job at an estate owned by the British company, Dunlop Estates, in the late 1960s, due to his inadequate academic qualifications.
But after making enough money about two decades later, he bought the holding company of the same estate that didn’t employ him.
Lee understood the importance of education and was determined that future generations of Malaysians would not be like him, having been born at a time of economic hardship.
Lee, the founder of IOI Group, died on June 1, 2019, just two days shy of his 80th birthday.
Three years on, his official biography (in English, no less) has finally been published and released early this month.
Most of his business friends, staff and associates are aware of his story, but this book will serve as a testimony to ordinary Malaysians in search of inspiration and useful lessons in tackling challenges.
At the tender age of 11, Shin Cheng left school to become an ice-cream seller, and in fact, was even too short to get onto the bicycle.
He tried his hands at everything, including starting off as a rubber estate cadet in Banting, Selangor, and later, a failed attempt as a pig farmer, petrol station dealer, property developer to finally, opening a whole new plantation frontier in Sabah and other parts of Malaysia.
Lee as a young man.Lee as a young man.
Spending more of his time in remote areas to tend to his oil palm trees than his family, Lee would end up being aptly called “The Tree Whisperer.”
Lee was also known as the tree whisperer because he loved talking and singing to his trees. He once said every tree is different, just like women.
So, he would talk to them, get to know them better, saying it would help them grow better, according to a report in The Edge.
Known as a stern and intimidating boss who would not tolerate laziness and negligence, his management staff were known to be wary of him.
He had a keen eye for detail and in his “management walks” of his numerous businesses, everyone was expected to answer his questions.
Lee, who was fluent in Tamil, was able to interact with the Indian staff at his estates.
With a fortune worth US$4.7bil (RM19.7bil), Lee was ranked by Forbes as Malaysia’s fifth-richest man and the 325th richest man in the world in 2019.
IOI Corp, with a market capitalisation of RM26.32bil then, remains an integrated palm oil company which has operations in eight countries across Asia, Africa, Europe, and North America.
It’s among the 30 largest companies listed on the Main Market of Bursa Malaysia, forming one of the component companies of the FTSE Bursa Malaysia KLCI, the stock exchange’s benchmark index.
As for IOI Properties, valued at RM7.37bil, it’s a property development and investment company which has a substantial presence in Singapore and China.
It was the property arm of IOI Group prior to its spin-off listing on Bursa Malaysia in January 2014.
The book is essentially divided to his childhood days, his meeting with his future wife, Puan Sri Hoong May Kuan, who was a teacher in a rural school, his early working days and business ventures, his growing family, his expanding ventures, his relationship with his family and responsibilities, and more importantly, his contributions to the community.
Lee and Puan Sri Hoong tied the knot in 1963.
On the corporate front, Lee was ever the polite gentleman. But even gentlemen can be aggressive if the situation warrants it.
Two chapters have been devoted to the hostile takeover bid by Sime Darby Bhd to gain control of Palmco Holdings Bhd, an oleochemicals manufacturer in which IOI Corp was the single largest shareholder at the time.
Sime Darby had, in July 2001, made an unexpected conditional voluntary offer for all the shares – at RM4.35 apiece – in Palmco.
A few hours later, IOI Corp, which held a 32.1% stake in Palmco then, said it had no intention of accepting Sime Darby’s offer.
It was a dramatic business story as the media played up the fight between IOI and Sime Darby.
Within days, IOI Corp launched a takeover on Palmco by matching Sime Darby’s offer, forcing the latter to raise its asking price to RM4.60 per share.
Lee emerged the victor finally. The takeover saga ended in October after IOI Corp got hold of more than 50% stake in Palmco.
Lee never stopped working. In 2017, though, he was diagnosed with lung cancer. After several visits to the hospital for treatment, it was finally time for him to go home.
However, he arrived an hour later than expected.
“It turned out that he had asked his driver to make a stop at IOI City Mall before heading home.
“At that time, construction work for the mall’s second phase of expansion was already underway, and he wanted to look.
“Too weak to walk or stand, Shin Cheng could only remain in the car while he met with executives from different departments.
“They formed a neat circle around the car, taking turns to answer his questions and update him on the construction’s progress.”
Although Lee was a well-known public figure, he kept deferring writing a book because he was still energetic and wanted to do more in business and education before committing himself to a book. The decision to publish this biography was made by his family not long after his passing.
His biography is a page-turner because it’s well-written with in-depth research, especially on some of his corporate deals. The author, Angeline Lee Hoong Lian, is also a good storyteller and can hold her readers. The English translation was done by Michelle Tan Ching Wuen.
The Chinese version was released in January this year with the English version published in early July.
Certainly, this is a highly recommended book because it’s not just about Lee’s business success, but an inspirational journey about how a man, who had nothing, could reach the pinnacle of his career through his tenacity and enterprising spirit.
And yet, he remained humble and down to earth, preferring to be known for his contributions to education and helping the poor.
Lee was small in stature, but he was indisputably a giant in the Malaysian corporate world and will go down in history as a legend.
‘The Tree Whisperer’ is available for purchase at major bookstores or online at https://bit.ly/3y7X1vs..
PLA's 'Taiwan lockdown' drills stun secessionists, external forces as precision strike, area ...
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