Public Bank

Malaysia’s Public Bank is said to consider buying late founder’s family stake in LPI

PUBLIC Bank said it is buying its late founder Teh Hong Piow’s family stake in the owner of Lonpac Insurance (LPI) for RM1.72 billion (S$524 million).

Teh Hong Piow founded Public Bank in 1965 at the age of 35. In 2019, he was named chairman emeritus, after retiring as the non-executive chairman of the group in 2018.
ASEAN BUSINESS

Malaysia’s Public Bank founder Teh Hong Piow dead at 92

[KUALA LUMPUR] Malaysia’s Public Bank founder Teh Hong Piow died on Monday (Dec 12) at the age of 92, said the company in a statement.