There are plenty of bank services available in Malaysia. So, of course, many would know of Public Bank Bhd. Needless to say, if you’ve used its services, you would be grateful to its founder and chairman emeritus Tan Sri Teh Hong Piow.
Unfortunately, it is with heavy hearts that we announce the venerated founder’s passing. According to news outlet, The Star, the director and adviser of Public Bank Bhd passed away this morning (12th December) at the age of 92.
It may surprise some to discover that Mr. Teh was actually born in Singapore on 14th March 1930. He spent his younger days there, studying in the Anglo Chinese School in Singapore. Then, in 1950, Mr. Teh began his banking career. He started out as a bank clerk in Overseas-Chinese Banking Corporation Ltd (OCBC).
Mr. Teh rose through the ranks quickly and was promoted to being an officer by 1955. He married Puan Sri Datin Sri Tay Sock Noy a year later in 1956 and they were blessed with four children. However, Mr. Teh then joined Malayan Banking Berhad as a Manager in 1960. This time, he only took four years before he became a General Manager at the age of 34.
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In 1966, Mr. Teh left Malayan Banking. This time, he started his own banking services, that is Public Bank. It first began its business on 6th August 1966 at Jalan Gereja, Kuala Lumpur. Since that day, Mr. Teh oversaw its growth into the institution it is today with a wide network of 265 domestic and two overseas branches. Currently, the bank is the second largest company listed no Bursa Malaysia. It also has a market capitalisation of RM85 billion.
“Teh’s passing is a great loss to the Public Bank Group,” Public Bank reportedly said in a statement today. “On behalf of the board, management, and staff of the Public Bank Group, we extend our most heartfelt condolences and deepest sympathies to Teh’s family.”
We too would like to extend our condolences to both Mr. Teh’s family and those who knew him. Our hearts and prayers go out to them, that they may find peace in his passing.
Sources: The Star, Public Bank, Facebook
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