Entrepreneur

Powerful Essays
Topics: Honda, Penang
You are required to form a group and please select ONE (1) successful entrepreneur at Malaysia and do reports consist of the following items, which are:
Among hundreds of entrepreneurs in Malaysia my group decided to choose Tan Sri Dato’ Loh Boon Siew who is famous with his represented company, Honda. a.) Background of the entrepreneur

Tan Sri Dato' Loh Boon Siew (1915–1995) also known as “Mr Honda”, was a Penangite tycoon and the first sole distributor of Honda motorcycles in Malaysia. Boon Siew was born in Hui of China. He spent his childhood collecting pig dung (then used as fuel) to make a living. Aged 12, he arrived in Penang on a small boat from China with five friends, among them Loh Poh Heng and Loh Say Bee. He could speak only Hokkien and had virtually no formal education. He worked as an apprentice car mechanic (earning three dollars monthly) upon his arrival. It is said that Boon Siew's master used to hit him in the head whenever he did something wrong. He stayed in a keng’ (workers' quarters) at 4, Katz Street, Penang and he supplemented his income by washing buses at night for 10 cents per vehicle. At age 18, Boon Siew purchased 11 buses using his $2,000 in savings. He reconditioned the buses and sold them for $12,000. Next, he used the money he earned to buy another 39 buses. In 1942, during WWII, his money was confiscated by the invading Japanese army. After WWII ended in 1945 and the Japanese were defeated, he started selling bicycles, tires and motorcycle accessories, and soon he expanded his business to used cars, transports and buses.
In the 1950s, Boon Siew went into property development with his friends Say Bee and Poh Heng by building residential villas in Taman Saw Kit in Penang. His work is continued by his Boon Siew Group.
In 1958, Boon Siew noticed the popularity of the Honda Super Cub motorbike which had been just introduced in Japan. He believed that this low-cost, high-efficiency machine would find a similarly receptive

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