Public Bank Berhad has lost an important figure as its founder, Tan Sri Datuk Sri Dr Teh Hong Piow has just passed away this morning (December 12).
In a statement released by Public Bank Berhad, Tan Sri Teh passed away at 10:20am today at the age of 92 and his demise is a great loss to the Public Bank Group.
“We extend our most heartfelt condolences and deepest sympathies to Tan Sri Teh’s family.”
He founded Public Bank in 1965 at the age of 35, was appointed as a director of Public Bank on Dec 30, 1965, and had been the chief executive officer of Public Bank since its commencement of business operations in August 1966.
Teh began his banking career in 1950 and has 72 years of experience in the banking and finance industry. According to Sin Chew, he was estimated to have a net worth of about USD 7.1 billion (approximately Rm31.24 billion), making him the second richest man in Malaysia.
We would like to extend our condolences to Tan Sri Teh and his family.
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