Team Lotus boss Tony Fernandes received his CBE from the Princess Royal at a ceremony at Buckingham Palace on Thursday.
Fernandes was awarded the honour for his "services to promote commercial and educational links" between the UK and Malaysia.
"I am extremely humbled to have received this award today and I would like to thank Her Majesty The Queen for bestowing such an honour upon me," he said. "More than a personal honour, it will serve as a catalyst to further enhance relations between the UK and Malaysia, particularly in the areas of business, culture and education."
In 2010, Fernandes was awarded the Officier of the Legion d'Honneur by the French government for his contributions to the aviation industry. He was also recently named Asia Businessman of the Year 2010 by the international magazine Forbes.
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