Mayam

Ma Ah Muk, born Ma Muk Lam, was the founder of **Koon Wing Motors**, the largest operator of green minibuses in Hong Kong. Known as the "Minibus King" for owning the most minibus routes and vehicles, he was also the largest shareholder in the world’s most expensive commercial skyscraper, **The Center**.

Biography

Born in Chaozhou, Guangdong, China, Ma moved alone to Hong Kong at the age of 17. He initially lived in the wooden housing of Tai Wan Shan in Hung Hom, later redeveloped into a seven-storey resettlement estate (the early address “G/F, Unit 11-13, Block 2, Tai Wan Shan Estate, Hung Hom, Kowloon” is still posted on Koon Wing minibus doors). In 1952, he founded a rice shop and laundry business called “Kwong Fat Lung.”

Due to capital shortages, rice merchants commonly pooled funds via rotating credit clubs. During the political unrest and high inflation of the 1960s, Ma would lead such clubs with high bids, stockpile goods, and sell them at favorable prices. During the 1967 Hong Kong riots, food shortages made stored goods highly valuable, earning him his first fortune.

Following the riots, the government allowed private vans to temporarily replace idle public buses, separating vehicle ownership from route licenses. Licenses became transferable and cost around HK$5,000–$8,000, with drivers earning about HK$100–$200. The government later restricted new minibus licenses, paving Ma’s road to success.

With tens of thousands of dollars on hand from the rice business, and noticing high capacity and poor regulation of minivans, Ma transitioned into the minibus trade after his nephew Ma Chun Tat acquired a 14-seater license. Koon Wing Motors was co-founded with friends in the 1970s using pooled capital. By 1977, Ma had acquired over 20 licenses. Banking reforms allowed him to borrow with only 20% down and a 10-year loan, accelerating his full pivot into the transport business.

In 1979, Koon Wing won the bid for Route 37 from Wong Tai Sin to Tsz Wan Shan. The rapid development of that area ensured strong passenger numbers and high profits. His three sons—Ma Kiu Sang, Ma Kiu Mo, and Ma Kiu Man—also became shareholders of **Koon Wing Motors**.

Through various subsidiaries, Ma owned around 600 minibuses (16-19 seaters) and operated nearly 60 green minibus routes. He also engaged in non-franchise bus operations, minibus rental, minibus maintenance, speed display device installations, and taxi leasing. Koon Wing’s minibus licenses alone were valued at HK$8 billion.

Ma also invested heavily in real estate in Causeway Bay, Mong Kok, Nathan Road, and Sheung Wan. Between 2015 and 2016, he acquired three shopping malls—Kwai Hing, Ka Fu, and Shek Yam—from Link REIT. He was dubbed one of Hong Kong’s top “Shop Kings.” Ma also co-invested HK$100 million per partner in the Zhenjiang Department Store project in Jiangsu with **Yick King Development**.

He secretly controlled numerous companies in insurance, management, hotels, and catering, and invested in stocks, operated Hong Kong’s largest spa chain, and funded technology ventures in mainland China. His personal assets exceeded HK$10 billion, making him one of the richest tycoons in Hong Kong. His sons now manage the family business.

Ma was famously low-profile and rarely made public appearances. His three sons also kept modest appearances, often using regular cars—typical of a “hidden wealth” family. He was honored by **Hadton University of Colorado, USA**, as a “World Outstanding Chinese” and awarded an honorary **Doctor of Business Administration** degree.

On March 17, 2024, Ma passed away at Hong Kong Baptist Hospital at the age of 96. His funeral was held at the World Funeral Parlour, and his body was later transferred to Hau Si Cemetery in Macau.

Assets

• The Center (Central, Hong Kong)

Further Reading

• South China Morning Post: From minibuses to world’s most expensive tower: how Hong Kong tycoon Ma Ah Muk made and kept a fortune