Vinod Sekhar

Dato' Vinod Balachandra Sekhar is a Malaysian businessman. He is the Chairman and Group Chief Executive of Petra Group, a Malaysian-based global conglomerate involved in industries such as sustainable technologies, modular building construction, (monorail) transit systems, food agriculture, infrastructure and engineering, media and entertainment, food and beverage, research and philanthropy. He is also the chairman of the Sekhar Foundation, based in Kuala Lumpur and the CEO of Green Rubber.[1] He was named by Forbes magazine as Malaysia's 28th richest man in 2009.[2][3]

Yang Berbahagia Dato'

Vinod Sekhar
Born
Vinod Balachandra Sekhar

6 August 1968
Kuala Lumpur, Malaysia
NationalityMalaysian
Spouse(s)Datin Dr. Winy Sekhar

The title of Dato' was given to Sekhar at the age of 26 by Yang di Pertuan Besar of Negeri Sembilan, Tuanku Ja'afar on his 71st birthday, who was at that time the 10th Yang di Pertuan Agong of Malaysia.

He was declared a bankrupt for failing to settle his debt totalling RM12.376 million with credit company Orix Credit Malaysia Sdn Bhd and 11 other companies.[4]

Personal life

Sekhar is the youngest son of Sukumari Nair and B.C. Sekhar, also known as Mr. Natural Rubber, who for a time provided significant inputs in the global natural rubber industry. He has three siblings. He is married to Winy Sekhar with whom he has two daughters, Petra and Tara.[5]

He has written numerous plays and even produced a book of poetry. "In the Mind's Eye", one of the plays that he has written was a success and was well received when it was produced in the United States, United Kingdom and in his homeland, Malaysia.

He also enjoys playing golf with a 22 handicap.[6]

Education

He attended Haileybury and Imperial Service College[7][8] He started a non-partisan multiracial youth organisation, Malaysiana Muda. He remained president for two terms.[9]

Businesses

Sekhar was only 21 when he started his business career with just US$50 when he put up his own clothing company called Vincent Siefer Clothing Company that sold college embossed shirts to university students in different American universities. He later then sold his clothing company for US$5 million.[10]

In 1990, Sekhar formed Sekhar Tunku Imran (STI) Group together with his friend, Tunku Tan Sri Imran and penetrated various business ventures. Some of the most notable business deals that STI had was when it had a joint venture with Disney-MGM Studios in Florida, USA to produce the movie entitled Tarzan, The Epic Adventure.[11]

The Petra Group is a privately held company that is known for Green Rubber Global, the company's key business which is a cost-effective process that can efficiently recycle used rubber. In 2019, it was reported that a Irish national, John Slattery sued Sekhar to claim the US$108,000 which he had paid the businessperson in 2017 as an investment into Green Rubber Sdn Bhd.[12] In 2021, Petra Group claimed to have procured 200,000 Sinovac vaccines from China for free distribution. Malaysian government dismissed the claim and found no evidence for its basis.[13]

Sekhar is also an active supporter of different socio-civic organisations. He founded the Sekhar Foundation which owns 60% of The Petra Group and acts as the philanthropic arm of the company by supporting various charitable organisations worldwide. The Sekhar Foundation has donated to a range of organisations that are working in the fields of education, poverty alleviation, and healthcare provision.

Controversies

Declared bankrupt in 2005

In June 2005, the Kuala Lumpur High Court declared Sekhar a bankrupt due to failure of settling his debts with Orix Credit Malaysia Sdn Bhd and 11 other companies that totals RM 12.376 million.[14] According to the application that the director-general of the Insolvency Department has submitted to KL's High Court, Sekhar committed two offences when he was still in directorship of 25 companies and flew out of the country without gaining permission from the Director-General of Insolvency, under Section 38 of the Bankruptcy Act 1967.[14]

2008 Bruce Willis lawsuit against Sekhar and Tunku Imran

In 2008, Bruce Willis sued the Petra Group and its chairman, Tunku Imran Tuanku Ja’afar, to recoup US$900,000 (RM3.1mil) of the US$2mil the actor invested in a "green rubber" venture.[15] In his complaint filed in the federal court in Los Angeles on 22 November 2008, Willis said Petra chief executive officer Sekhar and Tunku Imran induced him to invest in a company that was developing a non-toxic and recyclable rubber in 2007, according to a Bloomberg report. Willis was told that former US vice president Al Gore and actor Mel Gibson had also invested in the company, Elastomer Technologies Ltd, the report said.[16]

Tunku Imran resigned from Petra Group claiming the lawsuit has caused personal embarrassment to him and his family, particularly to his royal parents.[16][17]

Later, Willis was reported to have resolved the dispute which he claimed caused by a series of miscommunications and false assurances when the remaining amount US$900,000 was not returned.[18]

Clinton's visit to Kuala Lumpur

Former US President Clinton drew flak from the local and foreign business communities over his speech in Kuala Lumpur praising Sekhar.[17] Investors in Britain and Malaysia say they disagree with the former president's glowing assessment of Sekhar, whose company has suffered a rough few weeks.[19] Mr. Clinton spoke before nearly 3,000 people in Kuala Lumpur at the invitation of Sekhar, whose foundation paid Mr. Clinton $200,000.[17]

2010 University of St Andrews's pledge

In 2010, Sekhar was reported to have failed to deliver the fund after pledging to the University of St Andrews in Scotland to part fund its medical and sciences school.[20] Yet two and a half years on, Sekhar has failed to hand over the fund and was facing jail in his home country for violating bankruptcy conditions.[21] The school was forced to seek funding elsewhere.[21][20][22]

2011 Insolvency department's application

In March 2011, Sekhar's lawyers proved to the court that the adjudication and receiving order documents pertaining to the bankruptcy were never served on Sekhar and that the signatures appearing on those documents were forged.[4] The application to send Sekhar to prison was subsequently dismissed by the High Court.[23][14]

2019 warrant of arrest and discharge of bankruptcy

In September 2019, court bailiffs failed to execute an arrest warrant against Sekhar in relation to a civil forfeiture case filed by a Irish national, John Slattery.[24] It was reported that Slattery sued Sekhar to claim the US$108,000 which he had paid the businessperson in 2017 as an investment into Green Rubber Sdn Bhd.[12]

The court made a judgment in default, awarding the amount to Slattery on June 11 following Sekhar's failure to appear before the court. Slattery's lawyers then secured a writ of seizure from the court after Sekhar failed to respond to the court judgment, which led to the bailiff raiding his house on Aug 7 and seizing items estimated to be worth RM150,000.[12]

The bailiff went to Sekhar's house in Bukit Tunku, Kuala Lumpur and found that he was not at home.[12]

He later discharged his bankruptcy status in 2021.[25]

2021 free vaccine distribution

Minister Khairy Jamaluddin said there was no record of any purchase by the Sekhar Foundation, an organisation linked to Sekhar which accused the government of snubbing its application to bring in 200,000 jabs to be given out free.[26] Sekhar’s Petra Group had claimed that it was able to procure 200,000 doses of Sinovac vaccine from China to be distributed for free.[22] However, the Covid-19 Immunisation Task Force disclosed that it found no evidence that the Sekhar Foundation has ordered, purchased or made inquiries with the Chinese manufacturer of Sinovac or the local distributor here.[13]

Money laundering and tax evasion raid

In November 2021, Malaysian enforcement agencies raided offices linked to Sekhar, in connection to a money laundering and tax evasion case.[25] Officers from the National Financial Crime Centre (NFCC), Malaysian Anti-Corruption Commission (MACC), Central Bank of Malaysia and the Inland Revenue Board conducted raids at the premises of Petra Group.[27]

2022 Hungary ventilator deal

The Hungarian government bought Chinese ventilators from Sekhar for a total of HUF 178 billion (EUR 501 million) during the first wave of the coronavirus.[28][29] The shipment of 6,258 machines arrived in Hungary via GR Technologies, a company owned by Sekhar.[30] Two ventilator models were sold among 6,258 units bought by Budapest in a controversial deal approved by the European country's Ministry of Foreign Affairs and Trade in 2020, at the height of the Covid-19 pandemic.[31] Senior British doctors warned that ventilators of the "Shangrila" type that the United Kingdom bought from China were faulty, and could cause harm or even deaths if used in hospitals.[32] There were problems with maintenance and oxygen supply as well as confusing instruction manuals, adding that the ventilators were built for use in ambulances, not hospitals.[31]

Achievements, Awards and Honours
RecognitionRecognition Giving BodyYear
Corporate Leader of the YearSJ Grant Thornton2008[33]
16th Richest Man in MalaysiaForbes magazine2008[34]
Product/Industrial Design AwardGlobal Green USA2008[35]
Community Leadership AwardGlobal Organization for People of Indian Origin (GOPIO)2010[36]
Person of The Year AsiaOne Magazine 2020

Sekhar was also one of the first Malaysians to venture into the former Soviet Union after its breakup and was a part of the privatization of its second largest petrochemical plant. He was also the first Southeast Asian to own both Formula 2000 and Formula 3 Championship motorsports teams, and he founded Malaysia’s first sports car company.

Sekhar has presented a variety of papers at and participated in many international conferences including the International Human Rights Conference in Brussels, the first Malaysian International Youth Conference for Unity in Kuala Lumpur, the Asia Europe Young Leaders Conference in Ireland, the New Asian Leaders Retreat in Seoul, South Korea programmer for the World Economic Forum, the WEF's Davos Annual meeting, he was the Chair of the first New Asian Leaders–Emerging Arab Leaders Summit in Langkawi, which was attended by King Abdullah II of Jordan, and he was a speaker at the 2005 Forbes Global CEO Conference in Sydney.

He is the Chairman of the Vinod Sekhar Foundation (which he founded and which currently plays a role in the lives of over 12,000 children globally), the Chairman of the Pelita Harapan (Lantern of Hope) for terminally ill children, the Co-Chairman of the Innocent Child Appeal Fund Board for abused children, and the Chairman of the Sitavani Foundation. He was also the founding President of Malaysian Muda, the first nonpartisan multiracial national youth organization created to develop unity among Malaysian youth, where he warned of polarization among young Malaysians two decades before the government finally acknowledged it was out of control.

In 1991, he was made the first and youngest Asian fellow of Kappa Delta Pi, a US-based international Honors Society for Education for his contribution to the globalization of education. The organization awarded its "The Point of Excellence" award to his company, the first Asian company to be so honored. Sekhar was 26 years old and one of the youngest to be so honored. The World Economic Forum named him as one of its 40 "New Asian Leaders" (NAL). Grant Thornton named him the Malaysian Corporate Leader of the Year in August 2008.

In September 2020, Sekhar launched The Vibes, an online news publication covering Malaysian news.[37] The news publication is spearheaded by Terence Fernandez, former managing editor of Malay Mail, alongside many former journalists from major publications.[38][39]

Literary works

He has written several plays and a book of poetry. One of his plays, "In the Mind’s Eye", was produced with success in the US, UK and Malaysia. Sekhar also hosted Malaysia's first English language talk show on television.

In 2013, Sekhar produced the Indian Film "Liar's Dice"[40] which features the story of Kamala, a young woman from Chitkul village and her girl child Manya, who embarks on a journey leaving their native land in search for her missing husband.[41]

References
  1. "VinodSekhar.com". VinodSekhar.com. Retrieved 25 October 2021.
  2. "Malaysia's Richest No. 28 Vinod Sekhar". Forbes.com. Retrieved 27 May 2009.
  3. "#28 Vinod Sekhar - Forbes.com". www.forbes.com. Retrieved 16 June 2020.
  4. "Insolvency dept fails to commit businessman to jail". Borneo Post Online. Retrieved 5 February 2022.
  5. "Malaysian Rubber Industry Pioneer B.C. Sekhar Dies". One India News. Retrieved 7 September 2006.
  6. Roop, Sharma. "Vinod Sekhar : Malaysia's most prominent businessmen, philanthropists". NRI Internet. Retrieved 30 May 2007.
  7. "Malaysian work experience offer for six pupils". Haileybury and Imperial Service College. Retrieved 15 August 2010.
  8. "Malaysia in the Asian Century: The Challenges we all face", in: Frank-Jürgen Richter and Thang D. Nguyen: The Malaysian Journey, Marshall Cavendish 2004.
  9. "Vinod Sekhar". Green Leaders Summit.
  10. "VinodSekhar.com". VinodSekhar.com. Retrieved 25 October 2021.
  11. Roop, Sharma. "Vinod Sekhar : Malaysia's most prominent businessmen, philanthropists". NRI Internet. Retrieved 30 May 2007.
  12. Har (13 September 2019). "Petra Group boss not home, bailiff fails to execute arrest warrant". Malaysiakini. Retrieved 2 February 2022.
  13. Adam, Ashman. "After Khairy reveals 'bogus' Covid-19 vaccine contribution, Petra Group says unaffiliated with other donors | Malay Mail". www.malaymail.com. Retrieved 5 February 2022.
  14. "Insolvency Dept bid against Vinod Sekhar dismissed". The Star. Retrieved 5 February 2022.
  15. "Bruce Willis sues Tunku Imran over rubber venture". www.asiaone.com. Retrieved 2 February 2022.
  16. "Tunku Imran resigns from Petra". The Star. Retrieved 2 February 2022.
  17. Jr, Don Van Natta (6 December 2008). "Bill Clinton Speech in Malaysia Irks Investors". The New York Times. ISSN 0362-4331. Retrieved 2 February 2022.
  18. "Mel Gibson, Bruce Willis, Axl Rose". The New York Times. 27 November 2008. ISSN 0362-4331. Retrieved 2 February 2022.
  19. Jr, Don Van Natta (6 December 2008). "Bill Clinton Speech in Malaysia Irks Investors". The New York Times. ISSN 0362-4331. Retrieved 3 February 2022.
  20. MacDonald, James Ashton and Stuart. "University of St Andrews' £8m donor fails to deliver". ISSN 0140-0460. Retrieved 3 February 2022.
  21. "Scottish university's £8m 'donor' faces jail". www.scotsman.com. Retrieved 5 February 2022.
  22. MalaysiaNow (20 May 2021). "Man behind free vaccines offer has history of unfulfilled pledges". MalaysiaNow. Retrieved 5 February 2022.
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  24. "Court fails to execute arrest warrant against businessman | The Malaysian Insight". www.themalaysianinsight.com. Retrieved 2 February 2022.
  25. "Businessman's offices raided in money laundering, tax evasion probe". www.thesundaily.my. Retrieved 27 January 2022.
  26. Farudin, Farhira (19 May 2021). "Penang govt taken for a ride by free vaccine scam, says Khairy". MalaysiaNow. Retrieved 5 February 2022.
  27. MalaysiaNow (29 November 2021). "Businessman's Bangsar offices raided in major money laundering, tax evasion probe". MalaysiaNow. Retrieved 3 February 2022.
  28. src='https://secure.gravatar.com/avatar/b84e9a0eff4631e47a689101a7f12717?s=44, <img alt='Mercédesz Hetzmann' ;='' #038;d='mm;' Srcset='https://Secure.gravatar.com/Avatar/B84e9a0eff4631e47a689101a7f12717?s=88, #038;r=g' ;='' #038;d='mm;' Hetzmann,='' #038;r='g' 2x'='' class='avatar avatar-44 photo' height='44' width='44' /> Mercédesz (6 February 2022). "The Hungarian government bought Chinese ventilators known to be dangerous". Daily News Hungary. Retrieved 2 February 2022.{{cite web}}: CS1 maint: multiple names: authors list (link)
  29. "Ő a mikiegeres malajziai milliárdos, a magyar lélegeztetőgép-biznisz főszereplője | Forbes.hu". forbes.hu (in Hungarian). 2 December 2021. Retrieved 2 February 2022.
  30. "Veszélyes lélegeztetőgépeket vett Magyarország a maláj üzletembertől több milliárdért". mediaforras.com (in Hungarian). Retrieved 27 January 2022.
  31. MalaysiaNow (4 February 2022). "Revealed: Warning by medical experts over ventilators sold to Hungary by Malaysian businessman". MalaysiaNow. Retrieved 27 January 2022.
  32. "The U.K. bought 250 ventilators from China. Doctors warn they could kill". NBC News. Retrieved 5 February 2022.
  33. "SJ Grant Thornton Awards its inaugural Corporate Leader of the Year".
  34. "Malaysia's Richest No. 16 Vinod Sekhar". Forbes.com. Retrieved 21 May 2008.
  35. "Global Green USA Sustainable Design Awards Honorees".
  36. "7 Indian-origin persons to get GOPIO award". Rediff News. Retrieved 28 December 2009.
  37. "Vinod Sekhar launches The Vibes, a new site covering Malaysian news". BEAMSTART - Uplifting Lives Through Entrepreneurship. Retrieved 1 December 2020.
  38. "Vibes news portal launched | Daily Express Online - Sabah's Leading News Portal". www.dailyexpress.com.my. Retrieved 1 December 2020.
  39. "'Fellow journalists called us unemployable', but Dr.Vinod proves otherwise – NPC President | Asianewstoday". 21 September 2020. Retrieved 1 December 2020.
  40. "Vinod Sekhar". IMDb. Retrieved 16 June 2020.
  41. Liar's Dice (2013) - IMDb, retrieved 16 June 2020
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