PETALING JAYA, 28 November- Tatparanandam Ananda Krishnan, a billionaire tycoon with an empire stretching from the telecommunications sector to oil and gas, passed away on Thursday at the age of 86.

Usaha Tegas sdn Bhd, the investment holding firm led by Ananda, confirmed his passing today in a statement and said the family’s wishes to mourn in private.

“He has made significant contributions to nation-building and the corporate world,” Usaha Tegas continued, “his philanthropic initiatives have touched many lives.”

In April, Forbes listed the tycoon as the third-richest person in Malaysia after hotel and real estate magnate Robert Kuok and Hong Leong’s Quek Leng Chan with a net worth of US$5.1 billion.

Ananda’s holdings include Malaysia’s second-largest mobile operator, Maxis Bhd, as well as broadcasting and media company Astro Malaysia Holdings Bhd.

He also held a substantial stake in oil field services provider Bumi Armada Bhd through Objektif Bersatu Sdn Bhd.

Known for maintaining a low profile, Ananda was also the founder and chairman of Usaha Tegas, as well as the founder of Yu Cai Foundation.

Ananda had three children, including his only son, Ven Ajahn Siripanyo who is a Buddhist monk.