JCorp former president and CEO dies at 70
PETALING JAYA: Johor Corp’s (JCorp) former president and CEO Tan Sri Muhammad Ali Hashim ( pic) has passed away at the age of 70 due to cancer.
Muhammad Ali, who was also the deputy chairman of the Institute of Islamic
U n d e r s t a n d i n g Malaysia and the president of the Malaysian Islamic Chamber of Commerce, died at about 4pm yesterday at KPJ Damansara Hospital with his wife and children by his side.
According to an mstar report, a relative said Muhammad Ali had been hospitalised since two months ago.
Johor Mentri Besar Datuk Seri Mohamed Khaled Nordin conveyed his condolences to Muhammad Ali’s family on behalf of the state government.
“His passing is a huge loss, not just to the state of Johor, but also the nation, as Muhammad Ali was a corporate figure and a Johor-born Malay entrepreneur with many merits.”
“Muhammad Ali’s abilities and contributions are undeniable. He led JCorp for more than 28 years and under his leadership, JCorp successfully grew to become one of the major conglomerates of Malaysia,” he said in a statement.
Muhammad Ali made a name for himself by making Johor state investment arm JCorp one of the most respected local corporations, with at least 280 subsidiaries, as its chief executive officer between 1982 and 2010.
Muhammad Ali had a bachelor’s degree in economics from the University of Malaya in 1969 and was a recipient of several honorary doctorates from local universities.
Household names under JCorp include fast-food chains like KFC, Pizza Hut and Ayamas. Private healthcare provider KPJ Healthcare Bhd is also a subsidiary of JCorp, with 25 specialist hospitals nationwide.
In addition, Muhammad Ali played a pivotal role in the development of businesses based on Islamic principles, having contributed a significant positive impact via the establishment of the Corporate Waqaf instrument.
He also founded the first Islamic corporate endowment fund in Malaysia, Waqaf An-Nur Corp, which had more than RM800mil worth of assets as of 2016.