Dato Lee Yeow Chor and Lee Yeow Seng are the sons of the late Lee Shin Cheng, the man behind the success of the IOI group. Shin Cheng passed away in June 2019 and the 2 brothers have since taken over the management of IOI Group.
Involvements in IOI Group from early on
Both Yeow Chor and Yeow Seng have been involved in the managing of IOC Corporation before this. After the passing of Shin Cheng, Yeow Chor took over as the Group Managing Director and Chief Executive at IOI Corporation Yeow Seng meanwhile is IOI Properties’ executive vice-chairman. Together, they have continued building the business through various projects and expansions. Collectively, the brothers have a net worth of $4.9 billion (2021), putting them among the top 10 richest people in the country.
Coming from well-qualified backgrounds
Dato’ Lee Yeow Chor’s background was in law. He became Executive Director in 2013 and then redesignated as Non-Independent Non-Executive Director later that same year. A law graduate from King’s College London and a barrister from Gray’s Inn, he also completed his Postgraduate Diploma in Finance and Accounting from the prestigious London School of Economics. Before that, he held a Magistrate position and also served for 4 years at the Attorney General’s Chambers and the Malaysian Judiciary Service. Besides that, he was also involved in prominent roles Bank Negara Malaysia, Malaysian Green Technology Corporation and REHDA or the National Council of the Real Estate and Housing Developers’ Association.
His brother, Lee Yeow Seng joined the IOIPG’s board in 2013 and was then appointed as the Chief Executive Officer of IOIPG until 2020. Like Yeow Chor, he also studied law from King’s College London and is a barrister-at-law from the Bar of England & Wales by Inner Temple.
Source Of Wealth
The main businesses of IOI Group is in palm oil and properties that contribute mostly to the wealth of the brothers.
Yeow Sing the younger of the two is married to Malaysian politician Ms Yeo Bee Yin
Yeow Chor holds an LLB from King’s College, London and a Postgraduate Diploma in Finance and Accounting from the London School of Economics.