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Lee Thiam Wah

Lee Thiam Wah

L. Wah
0.14% | + $10.00M
$7.11 B ₹ 64,626 Cr
Real Time Net Worth #556 Ranking as of 21 Feb 2026 By Forbes

More on Lee Thiam Wah

Gender

Male

Age

62Y

Country

Malaysia

Born On

January, 1964

Deceased

No

Relationship Status

Married

Children

5

Education

Unknown

Designation Info :

Self-Made

Yes

Entrepreneur Type

Self-Made (Retail)

Primary Organization

99 Speedmart

Titles

Founder & Managing Director

Sources of Wealth

99 Speedmart

Industry

Retail, Supermarkets

About Lee Thiam Wah


L ee Thiam Wah is a Malaysian retail tycoon with an inspiring life story of overcoming adversity. He contracted polio at a young age and has been a wheelchair user since he was a child. He came from a humble background and, unable to complete his formal education, began his entrepreneurial journey by selling snacks from the back of his van. His big break came when he opened his first small grocery store in 1992, which he named 99 Mini Mart.

From that single store, Lee built a retail empire. Renamed 99 Speedmart, his chain of mini-marts has become ubiquitous across Malaysia, with thousands of outlets nationwide. His business model focuses on providing convenience and affordable prices on everyday necessities, catering to local communities. He maintains tight control over his operations, emphasizing efficiency and a no-frills approach. His perseverance and business acumen have transformed his small venture into one of Malaysia's largest and most successful retail chains, making him a self-made billionaire.

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Quick Reads


  • Founder and owner of 99 Speedmart, a major Malaysian convenience store chain.
  • A wheelchair user since he was a child due to polio.
  • Started his business selling snacks before opening his first store in 1992.
  • The 99 Speedmart chain has over 2,000 stores across Malaysia.
  • His business model focuses on convenience and low prices.
  • He is a self-made billionaire with a widely admired rags-to-riches story.

Early Life and Background


Lee Thiam Wah is a Singaporean businessman, the self-made billionaire Co-founder, Executive Chairman, and CEO of Sheng Siong Group Ltd (SGX: OV8), one of Singapore's largest supermarket chains. His career is rooted in physical hardship, resilience, and a profound commitment to value pricing in retail.

Lee was paralyzed from the waist down in a motorcycle accident at age 17 (1975). He became a wheelchair user, which instilled a deep sense of determination and self-reliance. His career began humbly: his family ran a pig farm, and he successfully converted the farm into a grocery stall in 1985 after the government banned pig farming.

  • Sheng Siong Group Ltd (Co-founder, Chairman & CEO): The core publicly traded asset, one of Singapore's largest supermarket chains (operating over 60 stores).
  • Retail Strategy: His success is built on value pricing, efficient sourcing, and catering to the mass market (particularly in heartland public housing estates).
  • Personal Resilience: He was paralyzed from the waist down in a motorcycle accident at age 17, which shaped his perspective on life and business.
  • Founding Venture: He converted his family's pig farm into a grocery stall in 1985 (the genesis of Sheng Siong).

Career Journey of Lee Thiam Wah


Lee Thiam Wah's strategic genius was his commitment to low-cost, high-volume retail. He founded Sheng Siong with his brothers in 1985 in Ang Mo Kio, recognizing the structural demand for discounted groceries in Singapore's public housing (HDB) estates. His philosophy of sourcing directly and passing savings to customers drove massive success.

Under his leadership, Sheng Siong expanded aggressively (over 60 stores). The company successfully executed its IPO on the Singapore Exchange (SGX) in 2011. Lee's structural contribution is immense: pioneering the value-focused supermarket model in Singapore and providing essential, affordable food supplies to the mass market. His wealth is secured by the colossal, long-term, stable profitability of the essential food retail sector.

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Lee Thiam Wah's Timeline


1975 (Age 17):

Paralyzed from the waist down in a motorcycle accident (Pivotal Personal Event).

1985:

Converts the family pig farm into a grocery stall; Sheng Siong is founded (Founding).

2011:

Sheng Siong Group executes its successful IPO on the SGX (Financial Milestone).

Ongoing:

Continues as Co-founder, Chairman, and CEO, guiding the massive retail empire (Executive Oversight).

Major Business Ventures and Investments


Lee Thiam Wah's wealth is concentrated in his founding equity and continued executive leadership of the publicly traded retail giant, Sheng Siong Group Ltd (SGX: OV8).

  • Sheng Siong Group Ltd (Co-founder, Chairman & CEO): The core publicly traded asset, one of Singapore's largest supermarket chains (operating over 60 stores).
  • Retail Strategy: His success is built on value pricing, efficient sourcing, and catering to the mass market (particularly in heartland public housing estates).
  • Personal Resilience: He was paralyzed from the waist down in a motorcycle accident at age 17, which shaped his perspective on life and business.
  • Founding Venture: He converted his family's pig farm into a grocery stall in 1985 (the genesis of Sheng Siong).

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Philanthropy and Social Impact


Lee Thiam Wah's social impact is structural, stemming from Sheng Siong's role as a massive national employer and foundational provider of affordable food and consumer goods to Singapore's populace. The company's low-cost model provides a significant structural benefit to consumers.

His personal philanthropy supports various community and educational initiatives, often tied to disability and rehabilitation causes (reflecting his personal journey). His career is a testament to the profitability of disciplined retail management and entrepreneurial resilience.

Fashion, Style, and Lifestyle


Lee Thiam Wah maintains the professional, pragmatic style of a retail executive. His attire is consistently formal and high-quality, favoring tailored business suits. His aesthetic reflects serious authority and stability, typical of a leader in the essential retail sector.

Residing in Singapore, his luxury is the immense security and financial reward derived from his multi-billion dollar fortune. His life is dedicated to retail scale, logistical efficiency, and the long-term, stable growth of the Sheng Siong empire.

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Quotes and Philosophy


No publicly available quotes.

Fun Facts & Trivia


  • He is the Founder and CEO of Sheng Siong, one of Singapore's largest supermarket chains.
  • He was paralyzed from the waist down at age 17 in a motorcycle accident.
  • He converted his family's pig farm into a grocery stall in 1985.
  • The company's success is tied to its low-cost strategy in HDB heartland estates.
  • Sheng Siong operates over 60 stores.
  • He successfully led the company's IPO on the SGX in 2011.
  • His wealth is tied to the successful industrialization of the value food retail model.

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Sources & References


This profile is compiled from verified biographical and financial records:

  • Wealth Data: Real-time tracking and historical data from Forbes Billionaires and the Bloomberg Billionaires Index.
  • Biographical Records: Educational and career history sourced from Reuters, The Wall Street Journal, and official university alumni directories.
  • Regulatory Filings: Shareholder and executive disclosures from stock exchange databases, including HKEX, SSE, SZSE, and SEC EDGAR.
  • Corporate History: Primary data from annual company reports, founding charters, and verified press announcements.

All information is cross-referenced with public sources for accuracy; some narrative sections are AI-assisted summaries.

If you find any inaccuracies, please report them to admin@redcarpetlife.in

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