On the dazzling stage of the Malaysian gaming industry, names like Lim Kok Thay of Genting Group, Zeng Liqiang of Jimei Holdings, and Tan Chee Yuen of Success Group are already household names.
However, what is less known is that a low-profile Thai-Chinese tycoon has quietly joined the ranks of the four tycoons of the Malaysian gaming industry with a fortune of $1.24 billion. He is Liu Jinkun—a business prodigy spanning textiles, finance, energy, and gaming.
Education Changes Fate: Transformation from Thailand to Penang
Liu Jinkun's business legend began with a critical decision by his family. At the age of 16, facing the scarcity of Chinese education in Thailand, his father Liu Kuan decisively decided to move the family to Penang, Malaysia.
This "Pearl of the Orient," where ethnic Chinese make up forty percent of the population, not only retains a rich tradition of Chinese culture but also boasts the most comprehensive system of Chinese education in Southeast Asia. Liu Jinkun's educational experience at Han Chiang High School in Penang (named after the Tang Dynasty literary giant Han Yu) not only deepened his understanding of Chinese cultural essence but also accumulated valuable business experience in his father's textile business.
This experience laid a solid foundation for his later maneuvers in the business world and confirmed his life motto: "Three parts fate, seven parts effort."
Diverse Layout: From Textiles to Finance Business Map
In the 1970s, Liu Jinkun took over the family textile business from his father, serving as the managing director of Malaysia Integrated Industries (MWE) Spinning Mill, and later promoted to executive director.
But he was not satisfied with the achievements in traditional industries. With a keen business sense, he extended his reach into electronics, plantations, banking, oil and gas, and gradually built a diversified business empire. It is worth mentioning that his deep friendship with "Lottery King" Tan Chee Yuen started during this period of textile trade cooperation.
Key Leap: Creating a Gaming Empire
2008 marked an important turning point in Liu Jinkun's business career. At that time, political turmoil in Malaysia affected the business community, and the original controllers of the omnipotent group, Lin Mu Rong and Lin Tian Jie, sold their shares due to political changes.
Seizing this historic opportunity, Liu Jinkun successfully took over the omnipotent group and its affiliated enterprise Maghua Holdings by acquiring shares of Quantum Aspects Private Company, completing a gorgeous transformation from traditional manufacturing to the gaming industry.
As the first publicly listed lottery company in Malaysia (1970), the omnipotent group pioneered many industry firsts: the computerized lottery system in 1988 and the "Omnipotent Lottery Accumulation Treasure" that swept the nation in 2009.
After taking over, Liu Jinkun further strengthened the innovation gene. In 2014, "Golden Lottery Accumulation Treasure" and in 2016, "Lottery Double Treasure" successively exploded the market, consolidating the leading position of the omnipotent in the Malaysian lottery industry.
By 2013, he retired behind the scenes as the non-executive chairman, handing over the enterprise to a professional team, but he has always been the strategic decision-maker behind the scenes.
Although known as the "Lottery King," Liu Jinkun's business map extends far beyond. His family, through Maghua Holdings, is involved in heavy asset fields such as oil, finance, and real estate, and completed the capital segment spin-off listing in 2013, demonstrating superb capital operation capabilities. His daughter Liu Kewei, as the executive director of Maghua Holdings, started from the grassroots in 2008 and gradually took over the family business, continuing the low-key and pragmatic management style.
Liu Jinkun's success is a classic case of Southeast Asian Chinese merchants' "cross-border breakthrough." From forced migration for education to cross-border mergers and acquisitions giants, from traditional manufacturing to gaming innovation, he has always expanded his territory with the perseverance and wisdom of the Chinese.
His experience also reflects the uniqueness of the Malaysian Chinese community: the Chinese education at Han Chiang High School in Penang shaped his cultural identity, while the business network of the Min-Chao merchants became an important aid in his business expansion.
Today, when people marvel at the market boom of the omnipotent lottery, they may not associate it with the figure of this Thai-Chinese merchant. But Liu Jinkun's legend precisely proves that in the turbulent business seas of Southeast Asia, the real protagonists often write their business legends across eras and borders with a silent posture.
