The business tycoon behind Malaysia’s infrastructure and philanthropy

Born in 1951 in Alor Setar, Kedah, Tan Sri Syed Mokhtar Al-Bukhary grew up in a humble family that faced significant financial hardships. His early years were spent helping his father with their small cattle business, which exposed him to the challenges of entrepreneurship from a young age. Reflecting on these formative years, Al-Bukhary once remarked that success in business does not require a high level of education, but it does demand determination, discipline, and hard work. It was this philosophy that laid the foundation for his entrepreneurial journey, which has since grown into a multi-billion-dollar empire.

Though he did not complete formal education beyond secondary school, Al-Bukhary’s determination to succeed was unwavering. He began his business career trading rice in the 1970s, a move that would later shape his business trajectory. His entry into rice trading was driven by the need to support his family, but it quickly evolved into a more extensive enterprise. Over time, he expanded his interests into other industries, including sugar and flour trading, setting the stage for his later ventures. He has expressed that success is not measured by the wealth gathered, but by how much a person gives back.

A business empire built on strategic acquisitions

One of Al-Bukhary’s most significant achievements is his leadership in DRB-Hicom, a conglomerate with a dominant presence in Malaysia’s automotive, property, and services industries. He controls over 55% of DRB-Hicom, which was instrumental in the production of Malaysia’s national car, Proton. His ability to navigate the complexities of the automotive industry helped solidify Proton’s position as a key player in the Malaysian market. When Proton faced challenges, Al-Bukhary initiated a strategic partnership with China’s Zhejiang Geely in 2017, a move that revitalised Proton and introduced new models such as the X70 and X50. He commented that while the decision to sell a stake in Proton was tough, it was essential for the brand's future.

Al-Bukhary’s business portfolio also includes MMC Corporation, a major player in Malaysia’s infrastructure sector. MMC operates seven key ports across the country, including the largest transshipment hub in Southeast Asia, Tanjung Pelepas. MMC is planning a RM26 billion ($5.5 billion) investment over the next five years to upgrade its port infrastructure, creating 23,000 new jobs in the process. Despite a setback in 2024 when a deal to sell a 49% stake in MMC Ports to Global Infrastructure Partners fell through, Al-Bukhary remains undeterred. He stated that every failure teaches a lesson, and the key is to keep moving forward. His long-term vision for Malaysia’s infrastructure reflects his belief that the country's future relies on its ability to remain competitive in logistics and infrastructure.

In addition to his involvement in the automotive and infrastructure sectors, Al-Bukhary has made significant investments in agriculture. Through Padiberas Nasional Berhad (Bernas), the country’s largest rice distributor, he controls a major share of Malaysia’s rice market. His commitment to ensuring food security in Malaysia is evident in his stewardship of Bernas, which plays a critical role in managing the nation’s rice supply. Bernas is also responsible for maintaining Malaysia’s stockpile of rice reserves, a task that is critical to the nation’s food security.

His lifelong commitment to philanthropy

Philanthropy has always been a cornerstone of Al-Bukhary’s life. In 1996, he established the Albukhary Foundation, which focuses on education, healthcare, and disaster relief. His contributions have exceeded $500 million globally, providing aid to refugees, orphans, and disaster victims in countries such as Pakistan, Indonesia, and Guinea. When asked about his motivations for philanthropy, Al-Bukhary often cites the values instilled in him by his family. He has previously shared that his greatest joy in life comes from giving, highlighting his dedication to charitable work.

The Albukhary Foundation has been instrumental in supporting underprivileged communities both in Malaysia and abroad. One of its most notable initiatives is the Albukhary International University (AIU), which was founded in 2010. The university provides scholarships to students from disadvantaged backgrounds, giving them access to higher education that they might not otherwise be able to afford. Al-Bukhary believes that education is one of the most powerful tools for breaking the cycle of poverty. He is adamant that education is the key to breaking the cycle of poverty and is the most valuable gift one can offer to the next generation.

His philanthropic efforts have not gone unnoticed. In 2014, Forbes Asia recognised Al-Bukhary as a Hero of Philanthropy for his extensive charitable contributions. His foundation’s work in providing scholarships, building hospitals, and aiding disaster relief has touched the lives of thousands of people. Despite his vast wealth, Al-Bukhary remains committed to living a modest life, often citing his belief that ‘Wealth is a test’, and that it should be used for the benefit of society.

A reclusive and humble leader

Despite his wealth and influence, Al-Bukhary is known for his modest and reclusive lifestyle. He avoids the public eye and rarely gives interviews, preferring to let his work speak for itself. Unlike many of his contemporaries, Al-Bukhary does not seek the limelight, and his focus remains on building businesses that contribute to Malaysia’s economic development.

In 2024, Al-Bukhary’s daughter, Sharifah Sofia Syed Mokhtar, was appointed as a non-independent director of DRB-Hicom, signalling a potential succession plan within the family. Despite this, Al-Bukhary continues to play an active role in his businesses, ensuring that they remain competitive in an increasingly globalised market. His leadership style is characterised by a long-term perspective, and he frequently emphasises the importance of resilience in business. He emphasised that business is not solely about generating profit, but about adding value to the community, reflecting his belief in the wider social responsibilities of corporate leaders.

Overcoming setbacks and looking forward

Al-Bukhary’s business ventures have not been without challenges. In 2024, his attempt to sell a stake in MMC Ports to Global Infrastructure Partners fell through after both parties could not agree on valuation terms. While this setback could have discouraged others, Al-Bukhary remains undeterred. He noted that business is a marathon, not a sprint, and requires perseverance through all challenges, drawing from the lessons he has learned over his career.

Despite this setback, Al-Bukhary continues to explore new opportunities for growth and expansion. His focus on infrastructure development, particularly in the port and logistics sectors, positions his businesses to benefit from Malaysia’s strategic location along key global trade routes. 

A legacy of business and social responsibility

Al-Bukhary’s journey from humble beginnings to becoming one of Malaysia’s most influential business leaders is a testament to his determination, resilience, and commitment to giving back to society. His leadership in companies like DRB-Hicom and MMC, combined with his extensive philanthropic work through the Albukhary Foundation, has had a profound impact on Malaysia’s economic and social landscape. His legacy is one of both business success and social responsibility, and his influence will continue to shape Malaysia for generations to come.