There are a plethora of rags-to-riches stories available on social media which are enough to inspire and motivate the people of the world to keep on hustling towards their dreams. However, there are times when specially-abled people feel helpless to conquer their dreams despite reading such stories. However, the story of Malaysia's new billionaire Lee Thiam Wah has become one of the most talking points on social media around the world. Now, the question arises who is Malaysian billionaire Lee Thiam Wah and how did he become so successful despite facing polio? Below is all about Lee Thiam Wah-
Who is Lee Thiam Wah?
Lee Thiam Wah, 60, is an entrepreneur and owner & CEO of 99 Speed Mart, Malaysia's largest mini-market chain. On Monday, 99 Speed Mart's IPO was launched and it became Malaysia’s biggest IPO in seven years, signaling a significant rebound in Malaysia’s stock market.
Lee Thiam Wah's company raised a whopping US$531 million. This particular phenomenon spiked Lee’s net worth to an estimated US$3.3 billion, according to the Bloomberg Billionaires Index.
Talking about who is Lee Thiam Wah- born in Klang, Malaysia’s largest port city, the billionaire grew up in a modest household with his father working as a construction worker and his mother running a hawker stall. He was one of 11 children, and a bout of polio left him disabled at a young age. His family’s financial constraints limited his formal education to just six years of schooling.
All the early problems did not stop him to achieving his dream. Lee ventured into the business world by selling snacks from a roadside stall. In 1987, he took a significant step forward by opening his first grocery store. Over the years, Lee's business grew into 99 Speed Mart, which now boasts nearly 2,700 stores across Malaysia, establishing itself as a retail giant.
In addition to his success with 99 Speed Mart, the billionaire holds a significant stake in Alliance Bank Malaysia Bhd. and has an interest in the company that franchises Burger King in Malaysia. With the substantial funds raised from the IPO, Lee plans to expand his mini-market chain further. His goal is to increase the number of 99 Speed Mart stores to around 3,000 within the next three years, as outlined in the company’s prospectus.
More about Lee Thiam Wah and 99 Speed Mart
According to the official website, Lee Thiam Wah in 1987 opened a sundry store called Pasar Raya Hiap Hoe in Tepi Sungai, Klang — the first foray into the retail grocery sector. From 1992 to 1998, the first store that bore the name "99" opened in Klang Utama. It was called Pasar Mini 99 and Lee expanded it into eight other outlets in Klang.