Vinod Sekhar

Last updated

Yang Berbahagia Dato'
Vinod Sekhar
Born
Vinod Balachandra Sekhar

6 August 1968
Kuala Lumpur, Malaysia
NationalityMalaysian
SpouseDatin Dr. Winy Sekhar

Vinod Sekhar (born, Vinod Balachandra Sekhar; 6 August 1968) is the Chairman and Chief Executive of the PETRA Group, [1] which is a global conglomerate involved in sustainable industries, with a stated goal of providing "solutions for humanity". PETRA Group's businesses include restaurants, recycling rubber, media and entertainment, agriculture and modular building materials. [2]

Contents

Sekhar is currently being sued by 12 investors and former employees, for alleged fraud, misrepresentation, breach of contract, and acknowledgement of debt. [3] Further, in 2021, the Malaysian Anti-Corruption Commission opened a money laundering and tax evasion investigation into Mr Sekhar's affairs. [4]

Mr Sekhar is the founder of the Vinod Sekhar Foundation that undertakes various initiatives to alleviate poverty, provide healthcare and education, and support the most vulnerable communities including the indigenous, disabled, old folks, children, refugees, and poor. Mr Sekhar has a history of unfulfilled philanthropic commitments including an £8 pledge to Saint Andrews Medical School in 2010 as well as supplying 200,000 COVID vaccines in 2021. In fact, Mr Sekhar has a history of profiting from the sale of medical devices and allegedly purchased a $17.5M yacht with proceeds from the sale of ventilators during the COVID pandemic. [5]


He was named by Forbes magazine as Malaysia's 28th richest man in 2009. [6]

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.

Education

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

Businesses

Sekhar was 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 claimed he 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 entered various business ventures. One of the most notable business deals that STI had was a joint venture with Disney-MGM Studios in Florida, USA to produce the movie entitled 'Tarzan, The Epic Adventure'. [11] Tunku Tan Sri Imran was declared bankrupt in 2005. [12]

The Petra Group is a privately held company known for Green Rubber Global, the company's key business which it claims has a cost-effective process that can efficiently recycle used rubber. In 2019, it was reported that an Irish national, John Slattery sued Sekhar to claim the US$108,000 which Slattery had paid in 2017 as an investment into Green Rubber Sdn Bhd. [13] There is currently an ongoing lawsuit against Mr. Sekhar and Green Rubbher Global allegeding fraud. [14] In 2021, Petra Group claimed to have procured 400 million Sinovac vaccines from China for free distribution. Malaysian government dismissed the claim and found no evidence for its basis. [15] A 2008 lawsuit against Sekhar and Green Rubber Global alleged fraud against him. [16]

In September 2020, Sekhar launched The Vibes, an online news publication covering Malaysian news. [17] The news publication was spearheaded by Terence Fernandez, former managing editor of Malay Mail, alongside many former journalists from major publications. However, they have subsequently left the portal. [18]

Film works

In 2013, Sekhar produced the Indian film Liar's Dice [19] 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. [20] He has also launched the production company Petra Films which produces the Golden Horse Award-nominated film The Sunny Side of the Street in its debut outing. [21]

Philanthropy

Sekhar is the founder of the Vinod Sekhar Foundation, which was founded to undertake various initiatives to alleviate poverty, provide healthcare and education, and support the most vulnerable communities including the indigenous, disabled, old folks, children, refugees, and poor. [22] However the Foundation has no website so the claims are impossible to verify. Sekhar has a history of unfulfilled philanthropic commitments, including a £2.5 million towards the British charity 'Hopes and Homes for Children' in 2008 and an £8 million pledge to Saint Andrews Medical School in 2010 neither of which materialised. He also pledged to donate 200,000 COVID vaccines in 2021 which never arrived. [23] [24] [25]

Sekhar allegedly purchased a $17.5 million yacht with proceeds from the sale of ventilators during the COVID pandemic. [26] [27]

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. [28] [29]

His wife, Winy Yeap Liew Heoh, is the great-granddaughter of the banker Yeap Chor Ee, and is also cited as a co-defendant in the ongoing 2024 lawsuit for alleged fraud. [3]

Sekhar is noted to be a 'close friend' of the Malaysian Prime Minister [30]

He also plays golf with a 22 handicap. [11]

Lawsuits and Malfeasance

In 2024, a group of 12 investors and former employees sued Datuk Vinod Sekhar, for alleged fraud, misrepresentation, breach of contract and an acknowledgement of debt. The plaintiffs are seeking just under MYR30 million, inclusive of interest.

The plaintiffs, who are from across the globe, including the US, Panama, the UK, Dubai and Thailand, allege that Datuk Vinod persuaded them to invest in his Green Rubber business, despite not informing them of his status as a bankrupt at the material times.

In December 2023, an attempt by Datuk Vinod to persuade the court to issue a publicity injunction to prevent the plaintiffs from discussing the case in public, was thrown out by the High Court Judge in Kuala Lumpur. A parallel motion to get the action dismissed was also thrown out, removing the last obstacle that might have prevented the case going for full trial at the High Court.

The plaintiffs decided to launch the legal action after it emerged that the Malaysian Anti-Corruption Commission had opened a money laundering and tax evasion investigation into Datuk Vinod’s affairs in November 2021.

The decision was also taken after reports in February 2022 that Datuk Vinod sold Chinese-made ventilators to the Hungarian government at many times the market price during the onset of the COVID-19 pandemic. It has been reported in the media that British doctors had warned that these ventilators could cause patient deaths.

In papers submitted to the High Court, the plaintiffs allege that Datuk Vinod had provided reassurances that one “Anwar”, understood to be Malaysian Prime Minister Dato’ Seri Anwar bin Ibrahim, would resolve any issue relating to his status as a bankrupt at the material times.

The writ also references Petra Equities Management Sdn Bhd (PEMSB), a company within the Petra Group of businesses operated by Datuk Vinod, which apparently included the Green Rubber business. A director of that company was Tengku Muiniddin Putra.

Another associated company listed in the legal action is Petra Equities Sdn Bhd (PESB). The Chairman of that company was Y.A.M. Tan Sri Tunku Imran Ibni Tuanku Ja’afar. [31]

Awards and honours

RecognitionRecognition Giving BodyYear
Corporate Leader of the YearSJ Grant Thornton2008 [32]
16th Richest Man in MalaysiaForbes magazine2008 [33]
Product/Industrial Design AwardGlobal Green USA2008 [34]
Community Leadership AwardGlobal Organization for People of Indian Origin (GOPIO)2010 [35]
Person of The YearAsiaOne Magazine2020[ citation needed ]

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References

  1. ↑ "About | Social Capitalism Company Malaysia". PETRA Group. Retrieved 9 August 2022.
  2. ↑ Staff Reporter (9 July 2020). "Green Rubber Global - the next generation business by Vinod Sekhar". Olive Press News Spain. Retrieved 9 August 2022.
  3. 1 2 Khairulrijal, Rahmat (5 February 2024). "[Updated] Vinod Sekhar sued by investors, ex-employees for fraud | New Straits Times". NST Online.
  4. ↑ "Businessman's Bangsar offices raided in major money laundering, tax evasion probe". MalaysiaNow. 29 November 2021.
  5. ↑ https://www.malaysianow.com/news/2021/05/20/man-behind-free-vaccines-offer-has-history-of-unfulfilled-pledges
  6. ↑ "Malaysia's 40 Richest". Forbes. Retrieved 9 August 2022.
  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. 1 2 Roop, Sharma. "Vinod Sekhar : Malaysia's most prominent businessmen, philanthropists". NRI Internet. Retrieved 30 May 2007.
  12. ↑ https://www.thestar.com.my/news/nation/2005/09/15/court-declares-tunku-imran-bankrupt
  13. ↑ Har (13 September 2019). "Petra Group boss not home, bailiff fails to execute arrest warrant". Malaysiakini. Retrieved 2 February 2022.
  14. ↑ https://malaysiansmustknowthetruth.blogspot.com/2024/02/petra-group-boss-sued-plaintiffs-eye.html#
  15. ↑ Adam, Ashman (19 May 2021). "After Khairy reveals 'bogus' Covid-19 vaccine contribution, Petra Group says unaffiliated with other donors | Malay Mail". malaymail.com. Retrieved 5 February 2022.
  16. ↑ https://www.reuters.com/article/lifestyle/bruce-willis-sues-over-green-rubber-investment-idUSTRE4AL0E3/ [ bare URL ]
  17. ↑ "Vinod Sekhar launches The Vibes, a new site covering Malaysian news". BEAMSTART - Uplifting Lives Through Entrepreneurship. Retrieved 1 December 2020.
  18. ↑ "Vibes news portal launched". dailyexpress.com.my. 22 September 2020. Retrieved 1 December 2020.
  19. ↑ "Vinod Sekhar". IMDb. Retrieved 16 June 2020.
  20. ↑ Liar's Dice (2013) - IMDb , retrieved 16 June 2020
  21. ↑ Wong, Silvia. "How 'Borrowed Time' and 'The Sunny Side of the Street' rose through the HAF ranks". Screen. Retrieved 27 September 2022.
  22. ↑ "SMEs, traders to benefit under foundation program". Borneo Post Online. 21 September 2020. Retrieved 9 August 2022.
  23. ↑ "Medical school in £8m pledge wait". BBC News. 17 February 2010.
  24. ↑ MacDonald, James Ashton and Stuart (12 March 2024). "University of St Andrews' £8m donor fails to deliver". The Times. London.
  25. ↑ "Man behind free vaccines offer has history of unfulfilled pledges". MalaysiaNow. 20 May 2021.
  26. ↑ "Revealed: Warning by medical experts over ventilators sold to Hungary by Malaysian businessman". MalaysiaNow. 4 February 2022.
  27. ↑ "Hungarian COVID-19 ventilator procurement mired in corruption". intellinews.com. 30 August 2023.
  28. ↑ "Malaysian Rubber Industry Pioneer B.C. Sekhar Dies". One India News. Retrieved 7 September 2006.
  29. ↑ "47m Admiral motor yacht PetraTara sold". boatinternational.com.
  30. ↑ "The return of Vinod Sekhar (Part 2): Friends with everyone - Focus Malaysia". focusmalaysia.my. 18 June 2021.
  31. ↑ https://www.nst.com.my/news/crime-courts/2024/02/1010019/updated-vinod-sekhar-sued-investors-ex-employees-fraud https://focusmalaysia.my/investors-former-employees-suing-vinod-sekhar-rm30m-for-alleged-fraud-potential-witnesses-include-pm-anwar/
  32. ↑ "SJ Grant Thornton Awards its inaugural Corporate Leader of the Year".
  33. ↑ "Malaysia's Richest No. 16 Vinod Sekhar". Forbes.com. Retrieved 21 May 2008.
  34. ↑ "Global Green and the Sustainable Development Goals". Global Green. 8 October 2020.
  35. ↑ "7 Indian-origin persons to get GOPIO award". Rediff News. Retrieved 28 December 2009.
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