Several decades later, the entrepreneur has transformed that humble beginning into a sprawling retail empire of more than 2,600 convenience stores spread across the nation.
On Sept 9, the 60-year-old was minted as a billionaire after his company 99 Speed Mart Retail Holdings went public in Kuala Lumpur.
The RM2.36 billion (S$705 million) initial public offering (IPO) is Malaysia's largest in seven years. At the IPO price of RM1.65 per share, Mr Lee's fortune is about US$3.3 billion (S$4.3 billion), the Bloomberg Billionaires Index shows.
The stock opened at RM1.85 and closed at RM1.88, up 14 per cent from the IPO price.
The listing cements Kuala Lumpur as the busiest location for market debuts in South-east Asia in 2024 and shows investor optimism in the nation's growth potential. The firm's shares are seen as a way to build exposure to the consumer sector in an economy that is projected to expand as much as 5 per cent this year.
Bu hikaye The Straits Times dergisinin September 10, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye The Straits Times dergisinin September 10, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
HORSEBACK FISHING ALIVE IN BELGIUM
A fisherman on horseback drags his net in the sea to catch grey shrimp in Oostduinkerke in Belgium in October.
K-pop star Jessi cleared of charges in case of fan assault
South Korea-based American singer-rapper Jessi has been cleared of all charges in the case of a fan assault that took place in front of her.
S'pore movies Wonderland and A Year Of No Significance selected for China film festival
Two made-in-Singapore movies have been selected to take part in the China Golden Rooster & Hundred Flowers Film Festival.
JJ Lin's concert tour to return to Singapore in December
Home-grown Mandopop star JJ Lin is set to return to Singapore's National Stadium on Dec 28 and 29 for the second leg of his JJ20 World Tour.
Three charged in Liam Payne's death
Three people have been charged in relation to One Direction singer Liam Payne's death in a fall from his Buenos Aires hotel balcony in October, the Argentine authorities said on Nov 7.
Looks like a lion, purrs like a pussycat
The two-door Mercedes-AMG CLE53 appears stout and aggressive, but is a friendly and easy-to-drive car
Dramatic electric roadster bolsters MG's street cred
The Cyberster is a two-seater convertible that mixes brawn and beauty as well as value and efficiency
V12 performance and looks define new Aston Martin Vanquish
After a six-year hiatus, the Aston Martin Vanquish returns as a meaner and bigger grand tourer.
Lively and sublime all-French concert by Red Dot Baroque
The Tastes Reunited comes from the French phrase Les Gouts-reunis coined by Baroque composer Francois Couperin, referring to a glorious unification of Italian virtuosity and dramatics with French elegance and restraint in musical performance.
Golden age for parks in America
Cities are sprucing up waterfronts, transforming abandoned industrial sites and bringing green space to neighbourhoods
