Visionary Unmatched : The futurist, the realist, the philanthropist

True Vocation

The story of Tan Sri Jeffrey Cheah Fook Ling tells the remarkable journey of a boy who came from the small town of Pusing, near Ipoh, Perak, who not only dared to dream big, but had the grit and substance to see through the realisation of his dreams and visions. Cheah’s father was a lorry driver, who became a mine worker, later mine manager, and ultimately mine owner. His mother, meanwhile, took care of 10 children, of whom he was the sixth.

Cheah studied in Batu Gajah until secondary school and furthered his studies at the Footscray Institute of Technology, now Victoria University in Melbourne, Australia. “My parents were illiterate and could not guide me (on my career). I decided to go to Melbourne to study when a friend of mine decided to go there,” he reminisces. The decision had given him a head start in business.

Upon his return to his home country, he started his first job as an accountant in a motor assembly plant. “Working for Asian Motors for two years, I soon realised that I was not cut out to be a professional accountant because I am someone who cannot be desk-bound. I’m more of an entrepreneur. I enjoy making things happen. I wanted to venture out on my own. And I did just that,” he says.

In 1974, Cheah set up what was to become the conglomerate giant of the nation – the Sunway Group of Companies, with the establishment of a small tin-mining company with a paid-up capital of just RM100,000.

Turning Vision into Reality

Sunway Group’s tagline, ‘Turning Vision into Reality’, fully embodies the man Cheah is. His business acumen, complemented by his passion and determination, shuttled him to where he is today. Work is to him, a hobby. He dipped into quarrying, trading, manufacturing and building materials, civil engineering and construction, healthcare,

information technology, leisure, entertainment and hospitality, property development, education and more.

Sunway Group’s flagship development, Bandar Sunday – a 350-hectare former tin mine disparagingly called The Hole – is now one of the region’s best known tourist destination. It was awarded the world’s best leisure project by the International Real Estate Federation, Paris (FIABCI) in 2002.

Sunway Lagoon, located in Bandar Sunway, is the first theme park in Malaysia. The recent addition is Banjaran Hotsprings Retreat – the first-of-its-kind luxury wellness retreat. “When Bandar Sunway was first envisaged, we looked at developing a township from a holistic perspective. At that time, we felt that Malaysia lacked community-focused developments and we were committed to paving the way for change in this area. “This led to planning of not only housing but other infrastructure in an integrated environment that was clearly beneficial to the community,” Cheah says.

Today, standing tall in the township are two world-class universities, a service-oriented medical centre, top-rated hotels, an eco-friendly theme park and an 800-outlet themed shopping mall among other amenities. All these were built, developed and managed solely by the Sunway Group.

Looking back at the list of achievements of the group that spanned over three decades, Cheah notes that the Group always sets a target and monitors its results. “For example, we want Bandar Sunway to be an eco-friendly township that provides its community with facilities to live healthily and safely. So, we invested a good amount of money into greening Bandar Sunway, providing free shuttle bus service and have our own auxiliary police among over 800 security personnel that the Group employs and deploys in various Sunway areas.”

Rising Above Adversity

Throughout three decades, Sunway Group, like every other business, went through three recessions. The first one in 1979 was manageable but the one in the mid-eighties hit them badly. “Out of the 32 million ringgit in paidup capital, we lost 30 million. We were nearly wiped out,” Cheah recalls.

Their share price dropped from RM8.50 to 25 sen. “There was a party which wanted to  ake 51% of the group. But I said, this was the monster I created, let me continue to manage it. They said 51% or nothing. I said never mind then. I wanted my playground,” Cheah tells of his resoluteness in sustaining his company during the difficult time.

“Many people asked me later how I could remain so calm and poised (and even retain my sanity) when I had lost so much,” he adds. “My answer to them was: ‘Like a swan, I may look calm and dignified above the water, but if you look under the water, you will see that I am paddling away like crazy just to stay afloat’.

“Calmness and clarity of thought are key qualities of good leadership in challenging and trying times. If the leader falls apart, so will his people,” explains Cheah.

Due to good reputation and the loyalty of Sunway Group’s management team members, the company ultimately got back on its feet. Cheah’s philosophy in doing business is:

“Be at the right place at the right time and be entrepreneurial, and you will have business. But I have often told my people that Sunway must always practise principled business philosophy, which is to create and add value to the society we live in and serve.

He stresses that there is no shortcut to success. “Newcomers have to be careful and must identify with what is relevant. In big business, especially in property development, location and timing are very important. It is also very important for aspiring entrepreneurs to build a good reputation and have integrity.”

Heart for Education

With all his entrepreneurial and business success, Cheah has his heart and mind set on education.

“It was the government’s aspiration to make Malaysia the regional centre for excellence in education and the economic crisis in 1996/1997 that prompted me to look in the direction of providing affordable tertiary education for our youths.

“When I ventured into the field of education, I did not think of it as a business venture but a way of contributing back to the society and community.

“Sunway College, as it was previously known, was set up to help reduce the outflow of foreign exchange and to provide more tertiary education opportunities for our youths. Sunway College pioneered the ‘twinning concept’,” he says, adding that his vision then and today is to continue to run Sunway University College without a motive for profit. That was the reason he transferred his shares of the institution into a Trust in 1997 when it was financially selfsustainable.

This is my playground. I like to see things being built, being accomplished and managed well. And I will continue with it over time until I am unable to do so. – Tan Sri Jeffrey Cheah

The Trust was then converted into a fullfledged Foundation called the Jeffrey Cheah Foundation, a move inspired by John Harvard in bequeathing a legacy that has had a farreaching impact on society. All funds received and administered by the foundation are solely for the purpose of education, research, science, medicine and charity, as well as upgrading facilities that will benefit students and staff. Since the education trust fund was set up, he had awarded more than RM55 million in college scholarships. Recently, he gave away his entire equity stake worth RM700 million in the Sunway Education Group to the Jeffrey Cheah Foundation.

To date, the Group has contributed RM11 million towards school restoration and adoption programmes. Recipients of the donations include SK Convent Klang, SMK Bandar Sunway, SJK(C) Chee Wen, SMJK Yuk Choy, Ipoh, and SJK(C) Gunung Hijau, Pusing.

In 1996, Cheah was appointed to the Ministry of Education’s Higher Education Council in recognition of his contribution to education. In 2009, he was placed on the Forbes Asia’s Heroes of Philanthropy list.

Soaring Ahead

Sunway City’s property development division has delivered over 17,000 properties with a gross development value of RM9 billion. The internationally-acclaimed Sunway Integrated Resort City, the crowning jewel for SunCity popularly known as Bandar Sunway, will soon be complemented by the development of the RM5.2 billion Sunway South Quay project which is set to be an international lakeside metropolis.

Sunway Group has also set its sight on international endeavours. Already, it is making its mark in countries such as China, India, Vietnam, Australia, the Middle East, Trinidad and Tobago. In the next 10 years, Cheah hopes to make Sunway Group a more global entity that still continues with its core business.

“I am always excited and motivated by the idea of doing transformational things that have the potential to help develop a community and take it to a higher level,” says Cheah.

“I find the journey in achieving these results most satisfying and that drives me towards wanting to make things happen.”

As for his children – Sarena and Evan who are currently working for the Sunway Group, Cheah notes that they are being put through the mill. “If my children are able to grow the business, then it’s good to have them running it.

“I’ve walked every inch of the ground (of my developments). I tell my children that they can’t manage a business from a chair, they need to get out and walk the ground,” Cheah says matter-of-factly.

Under the lead of this man with loads of vision, passion, compassion and wisdom, it would be an understatement to say that the empire of Sunway Group will continue to stand and flourish. The world can certainly expect many more ground-breaking projects to come that will enhance and make a difference to modern living.