Kwong Yik Bank, the Origins of Malaysia Chinese Banking Industry

Timeline Description 1903 Wong Ah Fook founded the first Chinese owned bank in Singapore to serve underserved Chinese merchants, establishing an early credit system. 1913 Cheong Yoke Choy established Kwong Yik Bank in Kuala Lumpur, marking the birth of Malaysia first Chinese owned bank. 1917 Cheong supported the expansion of Tung Shin Hospital and founded […]

Lotus’s Retail Overhaul After Two Acquisitions

Timeline Description 1993 Makro entered Malaysia with a cash and carry wholesale model, targeting registered business operators. 2002 Tesco partnered with Sime Darby to establish a hypermarket platform. 2006 Tesco acquired Makro Malaysia and converted its wholesale outlets into mass market hypermarkets. 2020 CP Group acquired Tesco Malaysia through CP Axtra in a USD10.6 billion […]