The Malaysian-born businesswoman was crowned two days ago in Monte Carlo after beating 48 other country finalists to become the first woman to win the top prize in the award’s 11-year history.
YTL Group managing director Tan Sri Francis Yeoh, chairman of the judging panel, cited Lum’s “entrepreneurial spirit” and said she was a role model to female entrepreneurs around the world.
Lum, who was adopted at birth and never knew her parents, was brought up in an illegally constructed tin shack with no utilities in Kampar, Perak where floods were common and food scarce.
She moved to Singapore at the age of 15 and supported her schooling through tutoring and sales jobs, eventually graduating with an Honours degree in chemistry from the National University of Singapore (NUS) in 1986.
After three years working for Glaxo Pharmaceuticals as a chemist, Lum quit her job and founded Hyflux in 1989 with S$20,000 (RM 48,832) that she raised by selling her car and condominium.
The company is now listed on the Singapore Exchange, employs 2,300 people across Asia, the Middle East and North Africa and boasts annual revenues of US$450 million.
Customers include Siemens, Hewlett Packard and the Singapore government — Hyflux runs several NEWater plants as well as the republic’s largest desalination plant.
The once-penniless Lum has also been listed as one of Singapore’s 40 wealthiest people by Forbes.
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