Teh Hong Piow Explained

Honorific Prefix:Yang Berbahagia Tan Sri Dato' Sri
Teh Hong Piow
Honorific Suffix:PSM SSAP SPMJ SIMP SSIJ JP
Birth Date:14 March 1930
Birth Place:Singapore, Straits Settlements
Death Place:Kuala Lumpur, Malaysia
Occupation:Businessman
Founder, Chairman Emeritus, Director and Adviser of Public Bank
Spouse:Tay Sock Noy
Children:4

Teh Hong Piow (; 14 March 1930 – 12 December 2022) was a Malaysian banker and businessman. He was the founder, chairman, director, and adviser to the Public Bank Berhad in Malaysia. Teh was one of three individuals in the country who were permitted to hold a stake of more than 10% in a domestic financial institution.[1]

Biography

Teh was born in Singapore on 14 March 1930. He attended his formal primary and secondary education at the Anglo-Chinese School in Singapore. He has been married to Puan Sri Tay Sock Noy since 1956 and they have four children – three daughters, Lilian Teh Li Ming, Lillyn Teh Li Hua, Diona Teh Li Shian and a son, William Teh Lee Pang.[2]

On 12 December 2022, Teh died at the age of 92.[3]

Career

Teh began his banking career in 1950 as a Bank Clerk in Overseas-Chinese Banking Corporation Ltd and rose in rank to officer within five years. He joined Malayan Banking Berhad as Manager in 1960. Later in 1964, he was promoted to the position of General Manager at the young age of 34,[4] then founded Public Bank Berhad in 1965 and commencement of business operation in 1966.[5] He has since overseen its evolution into a modern and integrated financial institution with a wide network of 259 domestic and two overseas branches.[6]

One of Malaysia's wealthiest businessmen, Teh obtained three degrees at the unaccredited Pacific Western University and two PhDs at Clayton University (also unaccredited) and University Malaya.[7] His net worth was estimated by Forbes to be US$4.7 billion, making him the 223rd richest person in the world and the 5th richest in Malaysia.[8]

Teh was the Chairman of Public Bank Group. He also held leading positions in various organisations such as Public Foundation, Malaysia and LPI Capital Berhad, Malaysia (Group).[9] On 1 January 2019, he had retired as a chairman but continued to stay on as an adviser to provide guidance and support the continued growth of Public Bank and the Public Bank group. Teh, who was also the non-executive chairman of the units – Public Islamic Bank Bhd (PIBB) and Public Investment Bank Bhd (PIVB) had retired as chairman on 1 January 2018. However, he stayed on as a non-executive director.[10]

Teh had been awarded around 45 awards during his career, including the award for ‘Greatest Malaysian Banker of All Time’ by the Asia Pacific Brands Foundation.[11]

Honours

Honours of Malaysia

References

  1. News: 6,000 gather to thank Teh Hong Piow for piloting Public Bank to success. Free Malaysia Today. 10 October 2018. en-US.
  2. Web site: Public Bank Group.
  3. Web site: 12 December 2022 . Teh Hong Piow, Public Bank founder passes away at 92 . The Star . en.
  4. Web site: Founder, Chairman Emeritus, Director and Adviser's Biodata at Official Public Bank's website.
  5. Web site: Stocks. . 12 June 2023 .
  6. Web site: Teh Hong Piow to retire as Public Bank chairman in 2019.
  7. Sze, Joanna. (16 June 2002). New Straits Times Evergreen banker. Page 56.
  8. https://www.forbes.com/profile/hong-piow-teh Teh Hong Piow - Forbes.com
  9. Web site: Founder, Chairman Emeritus, Director and Adviser's Biodata at Public Bank's official website.
  10. Web site: Teh Hong Piow to retire as Public Bank chairman in 2019.
  11. Web site: Public Bank's Teh declared 'The Greatest Malaysian Banker Of All Time'. 13 March 2018.
  12. Web site: Senarai Penuh Penerima Darjah Kebesaran, Bintang dan Pingat Persekutuan Tahun 1983..
  13. Web site: SEMAKAN PENERIMA DARJAH KEBESARAN, BINTANG DAN PINGAT. Prime Minister's Department (Malaysia). 26 December 2020.
  14. News: Five made Datos by Pahang Sultan. The Straits Times. 30 May 1966. 7.
  15. News: Bintang Pahang untok Sultan Johor. Berita Harian. 30 May 1967. 2.
  16. Book: Johore Sultan's Birthday List Parade. New Straits Times. 3 November 1973.
  17. Book: Johore Sultan Awards Honours To 460. New Straits Times. 28 October 1974.