Dang Tai Luk built myNEWS.com from a single newsstand to a chain that stretches the length and breadth of the peninsular, in the process transforming and modernizing the traditional business of newspaper and magazine distribution. Now a day, he was owned 139th myNEWS.com outlet in peninsular Malaysia.
Mr. Dang’s is the fourth of nine siblings, where his father Dang Kai Ee was a rubber tapper who working very hard and being very thrifty to support a growing family through the ironworks foundry in his hometown of Air Tawar, Perak. Moreover, Mr. Dang’s father manages to support seven of them through further education at the University of Manitoba, Canada. Because of the impact from his father he wanted to own his business. Mr. Dang’s, graduated with a degree in computer science in 1985 and earned a master’s in the same subject in 1992 from the University of Manitoba. Regarding to him, about 10 of his family members of different generations have studied there. As a result, the holding company for myNEWS.com is named Bison Stores where the bison is the University of Manitoba’s mascot.
He first two ventures are a sad story though before he established myNEWS.com. After Mr. Dang’s graduated, he was returning to Malaysia and work full time for a financial institution. But almost immediately, he went into partnership with two friends – distributing a magnetic mosquito net developed in US. The business failed after a few months due to the partners’ inexperience. Several years later, Mr. Dang’s tried again and as a minority shareholder in manufacturing sound systems for a large US-based firm. Unfortunately, this venture also fell apart due to personal greed and mismanagement by certain parties involved.
While still determined to build a business empire of his, Mr. Dang’s resolved to start small the next time, and ensure that he would wholly own the business. So when an opportunity to run a newsstand in the newly-opened 1 Utama shopping mall in Selangor... [continues]
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