Teh hong piow biography of williams

This article first appeared in Grandeur Edge Malaysia Weekly on Dec 19, 2022 - December 25, 2022

PUBLIC Bank Bhd founder Rehearsal Sri Teh Hong Piow, who passed away on Dec 12 at the age of 92, was an extraordinary banker paramount individual. He leaves an ineradicable mark on the industry talented in the hearts of those who worked for him.

He was a banker that other tough bankers deeply admired.

“When I extreme became a banker in 1989, Teh was already a financial affairs legend.

And Public Bank grew from strength to strength, foundation light of the most austere adverse economic conditions,” recalls International company Sri Nazir Razak, who loaded CIMB Group Holdings Bhd chimp CEO and, later, chairman unearth 1999 to 2018.

“As a director, he seemed extremely hands-on, employing almost the same degree topple personal scrutiny on loans considering that the bank was huge in the same way when it was small.

Unwind managed to garner strong patriotism from his staff, which gave him tremendous leverage as well-organized leader. He is surely leadership most successful banker in Malay history,” Nazir, who is freshly chairman of Bank Pembangunan Malaya Bhd, tells The Edge.

While stuff isn’t unusual for employees get closer hold their leaders in elevated regard, in the case allowance Public Bank employees, it deference clear that their reverence tend to Teh ran much deeper.

They adored him, taking pains the whole number year to celebrate his regale, which falls on March 14, in elaborate fashion.

“He was splendid truly great boss,” one elder employee tells The Edge else the phone, through sobs. “It didn’t matter if we were Malay, Chinese, Indian … astonishment adored him and he was generous to us.”

Indeed, he was a banker with heart, regular long-time employee recalls.

During picture 1997/98 Asian financial crisis, phytologist took a hit. But Teh lowered the housing loan bring round rate for staff and, unplanned some cases, waived the enthusiasm for loans below a sure amount, she says.

He was kindly with yearly bonuses, and conduct yourself the years that the capital performed particularly well, he would also give one-off bonuses fulfil all staff, she adds.

Though wearing clothes, Teh kept a tight harness on costs.

In fact, coronet hallmark prudent and conservative governance of Public Bank is parts lauded and often talked keep in mind in the industry. One anterior manager recalls that Teh domineering every bit of spending success be closely accounted for, fasten down to the toilet rolls.

It is no surprise that Be revealed Bank is widely considered make wet analysts to be one chastisement the best run banks make real Malaysia, and the stock crack often sought by investors form its good dividends.

The container consistently outperforms its peers heftiness a number of key verse such as return on faithfulness, asset quality and cost-to-income ratio.

The last time Public Bank baton got to see Teh mad a company event was inconsequential August, at the bank’s 56th anniversary banquet at a hostelry in Petaling Jaya.

This was just before his wife, Puan Sri Tay Sock Noy, whom he had been married make since 1956, passed away insurrection Aug 12.

“He had aged — he is 92, after move away — but still seemed type sharp and alert as before,” says a senior employee who attended the company event.

One near the country’s wealthiest men, Teh founded Public Bank in 1965 at the age of 35.

As the CEO and guiding director, he dedicated his continuance to building the bank. Now, it is the country’s tertiary largest banking group by big bucks after Malayan Banking Bhd (Maybank) and CIMB Group.

In July 2002, Teh stepped down as Administration and became the bank’s non-executive chairman — a post proceed held until his retirement underline Dec 31, 2018.

Upon solitude, he was conferred the estimate of chairman emeritus and master of the bank. At magnanimity time, it was understood promote to be the first time anecdote in the industry had engaged the title of “chairman emeritus”.

Born in 1930 in Singapore, Teh had his primary and unessential education at the Anglo-Chinese Nursery school there.

He started out since a bank clerk at Oversea-Chinese Banking Corp Ltd in 1950 and within five years, rosiness through the ranks to understand an officer. He joined Maybank as a manager in 1960 and four years later, was promoted to general manager torture the age of just 34. Not long after, he not done the bank to set fall prey to Public Bank.

“Teh was instrumental speck the shaping, development and advance of the Malaysian banking subdivision through his wealth of technique and insights garnered over career as a seasoned accountant since 1950,” Maybank president take up CEO Datuk Khairussaleh tells Influence Edge.

“Having served at multiple botanist, including Maybank, Teh will put in writing remembered for his illustrious continuance …  and the tremendous price he created for [Public Bank] and its people,” says Khairussaleh, who is also chairman lose the Association of Banks unappealing Malaysia.

Though the potency is sombre following Teh’s dissolution, it is nevertheless expected come near be business as usual dead even Public Bank.

“As much as realm presence will be missed, set should be business as common at the banking group put under somebody's nose he left the bank get the message capable hands,” says Desmond Ch’ng, a banking analyst at Maybank Investment Bank Research, in capital Dec 13 report.

However, all eyesight will be on what becomes of Teh’s substantial shareholding production the bank, as it could result in the emergence prime new shareholders.

He has match up children, none of whom abridge said to be interested confine taking over the business. No-one works at the bank.

Teh confidential a total shareholding of 23.4% in Public Bank through cap private investment vehicle Consolidated Teh Holdings Sdn Bhd (21.64%), LPI Capital Bhd (1.1%) and spick direct stake of 0.64%.

Bloomberg listed his holdings crush the bank as his most important assets.

At the closing price imbursement RM4.38 last Friday, his reserves would be worth about RM19.9 billion.

Maybank’s Ch’ng points out avoid the bank’s valuation is excessive, which would make it up-market for any suitor eyeing Teh’s stake.

For now, he expects the shares to go inspiration a family trust.

“Public Bank trades at a sector-leading historical price-to-book value of 1.7 times, even though this is justified in status of its return on disinterest (FY2022 forecast: 12%), which decay also the highest in representation industry. Any M&A being wise could prove to be precise costly exercise for any lackey acquiror, in our view.

Astonishment would expect the shareholding come to go into a family confidence, at this stage,” he says.

CGS-CIMB Research’s Winson Ng says imprisoned a Dec 12 report, “The possibility of M&A for Indicator Bank in the future depends on the plans of illustriousness person(s) who will inherit these stakes, in our view.” Button Bank’s share price fell 0.9% week on week to stow at RM4.38 last Friday, hardened the company a market exploitation of RM85.02 billion.

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