This tale belongs to Forbes’ record on Malaysia’s wealthiest 2025. See the complete checklist below

The listing of 99Star Mart Retail shares elevated $532 million last September, Malaysia’s biggest IPO in 7 years. It has actually made the creator of the smallest-member chain Lee Thiam Wah expel the billionaire rankings and won the 61-year-old chief executive officer launching in the most affluent nation this year.

Lee began in 1987 with a shop marketing supermarket in Klang, the port city, and growing it right into a chain of 2,750 corner store, with Malaysia’s rivals being greater than 2,700 since December. He has actually assigned a part of the IPO income for the growth of the shop, with a target of 3,000 shops targeting completion of the year, with brand-new sales in Sarawak and eastern Sabah.

” We are well prepared to increase our growth and satisfy expanding need under the profits of the IPO.” In February, the firm reported that after-tax earnings increased 23% to 490.3 million ringgit in 2024.

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