Billionaire tycoon Ananda Krishnan dies

Ananda Krishnan, the founder of local telecommunications giant Maxis and one of Malaysia's wealthiest businessmen, has passed away at the age of 86. 

His death was announced in a short statement released by Usaha Tegas Sdn Bhd, his investment holding company.

"He has made significant contributions to nation building and the corporate world; and his philanthropic initiatives have touched many lives.

"We humbly ask that the family's wishes to mourn in private be respected," it said.