The executive chairman of Hong Leong Group has been recognised for his efforts in opening up new frontiers of opportunity and growth and creating a new pipeline for economic expansion.

Mr Kwek Leng Beng was given the Global Blue Ocean Shift Award on Wednesday by Malaysian Prime Minister Najib Razak at the Global Entrepreneurship Community Summit in Kuala Lumpur.

Other recipients of the inaugural Global Blue Ocean Shift Awards included senior Malaysian officials for their work in implementing the "blue ocean strategy". The awards also recognised the outstanding achievements made across the public, private and social sectors.

Datuk Seri Najib said that since its introduction in 2009, the National Blue Ocean Strategy had been a key pillar in Malaysia's transformation. It focuses on identifying untapped growth opportunities by moving from "red oceans" crowded with competition to "blue oceans" of uncontested market space and explosive growth.

About 15,000 people from 89 countries attended the two-day conference.