Koon Yew Yin's Blog
Koon Yew Yin, 19th Dec 2025
I am 93 years old. When I was 10 years old, my grandfather passed away at 83 years old. That means my grandfather passed away 166 years ago in 1859.
When he was 25 years old, he migrated from Guangzhou, China with his younger brother to start a timber sawmill to produce railway sleepers. His timber sawmill was diagonally opposite the Pudu Jail in Kuala Lumpur. Gradually he brought more people from his village to produce more railway sleepers as demand increased. The demand for railway sleepers was increasing so rapidly by the Malayan Railway because of the railway extension. Malayan Railway started operations in 1885, with the first line being the short, 13km route between Taiping and Port Weld (Kuala Sepetang) in Perak, built primarily to transport tin from mines to the port for export. This initial success paved the way for the expansion of Malaysia's railway network under British colonial rule.
In fact, at that time most of the houses were made of timber and there was no electric chain saw. All timber planks were sawn by hand saws.
At the meantime, my father expanded the timber business by making coffins out of the big logs of wood. Chinese believed the coffins are their permanent homes. When they die, their children would buy the best coffins for their parents.
He named his coffin shop Fook Tai Hin 福大輿壽板店 The coffin shop still exists after more than 100 years and it is managed by one of my grand nephews. It is located in Kepong, K.L.
I remember a framed up old Chinese saying at my grandfather’s timber sawmill:
This means you will not be rich if you work for some body. You should do business to be rich.
Gradually more and more Chinese migrated to Malaya to do business or work in the tin mines and Rubber estates because at that time Malaya was the largest producer of Tin and Rubber in the word.
As of 2025, ethnic Chinese make up about 7 million people in Malaysia, representing roughly 20–21% of the national population. Their contributions span economy, education, culture, and international relations, making them one of the most influential minority groups in the country.
Malaysian Chinese Contribution:
My biggest contribution was I co-founded Mudajaya, IGB and IJM Corporation Bhd in 1983, 42 years ago. The current market capitalisation of IJM Corp is Rm 7,915 Million.
Commerce & Industry: Historically dominant in trade, retail, and manufacturing. Many of Malaysia’s largest conglomerates (banks, property, plantations, logistics) are Chinese‑owned.
SMEs: Ethnic Chinese entrepreneurs run a majority of small and medium enterprises, vital for employment and exports.
Finance: Strong presence in capital markets, contributing significantly to GDP growth.
Malaysia Annual GDP (1957–2025)
1957 (Merdeka): RM 5.1 billion
1970: RM 12.3 billion
1997 (Asian Financial Crisis): RM 282 billion
2008 (Global Financial Crisis): RM 741 billion
2020 (COVID-19 pandemic): RM 1.34 trillion
2024: RM 1.9 trillion
Steady Growth: Malaysia’s GDP expanded more than 370 times since independence.
Timeline of Malaysia’s Trade Surplus
Pre‑1997: Malaysia often had trade surpluses, but the Asian Financial Crisis disrupted flows.
1998 onward: Since the recovery from the crisis, Malaysia has consistently maintained a surplus every single year.
2024: Trade surplus stood at RM 204 billion, marking the 27th consecutive year of surplus.
2025 (latest): October 2025 alone recorded a surplus of RM 19 billion, continuing the streak.
2. Education
Chinese Independent Schools: Provide alternative education pathways, producing bilingual graduates in Mandarin, Malay, and English.
Scholarship & Academia: High representation in universities, especially in science, engineering, and medicine.
3. Culture & Society
Festivals: Chinese New Year, Mid‑Autumn Festival, and Hungry Ghost Festival enrich Malaysia’s multicultural identity.
Cuisine: Chinese food (dim sum, noodles, Hainanese chicken rice) is central to Malaysian culinary heritage.
Language: Mandarin and dialects (Hokkien, Cantonese, Hakka, Teochew) are widely spoken, adding linguistic diversity.
4. International Relations
China–Malaysia Ties: Ethnic Chinese communities act as cultural and business bridges, strengthening bilateral trade and diplomacy. Diaspora Networks: Malaysian Chinese abroad (Australia, Singapore, UK, US) contribute remittances and global linkages.
Strategic Implications
Economic Backbone: Despite being a minority, their role in commerce and industry is disproportionate to population size.
Demographic Decline: Lower fertility rates and emigration may reduce their share, raising questions about long‑term representation. Cultural Integration: Contributions help sustain Malaysia’s multicultural balance, but also highlight challenges in ethnic politics.
Bottom Line: Malaysia’s ~7 million ethnic Chinese are central to the nation’s economy, education, culture, and global connectivity. While their population share is declining, their contributions remain vital to Malaysia’s prosperity and identity.
My personal opinion:
I am nearly 93 years old and I was a-co founder of Mudajaya, IGB, IJM and several unlisted companies. Over the years, I have seen many ethnic Chinese, including my children have migrated to Singapore, UK, Australia, U.S. Canada etc. Almost all of them are working for some money to survive and have little or no saving. They forgot
This means you will not be rich if you work for some body. You should do business to be rich.
I have been to almost all the countries around the world. Malaysia offers the best opportunity to do business. Open your eyes, you can see almost all the shops and factories are dominated by the Chinese. I prefer to live and die in Ipoh, Malaysia.
No comments:
Post a Comment