Richest People

Tan Sri Lee Oi Hian – Kuala Lumpur Kepong Berhad

TAN SRI LEE OI HIAN – KUALA LUMPUR KEPONG BERHAD

Tan Sri Lee Oi Hian is the nineteenth richest Malaysian in 2011 where he is the chairman of Kuala Lumpur Kepong Berhad and Batu Kawan Berhad. The company is managed by Tan Sri Lee together with his brother Datuk Lee Hau Hian who is holds the twentieth spot in the list where they hold the company through the Wan Hin Investments Sdn Bhd, with a 47.62% stake. The company was formerly managed by their late father Tan Sri Lee Loy Seng which started off in the plantations sector.

Kuala Lumpur Kepong still holds a strong portfolio in the plantations sector where it remains as one of the oldest companies in Malaysia having starter operations in 1906 when it was primarily involved in the rubber industries. Then, it was known as The Kuala Lumpur Rubber Company and was then incorporated in London that acquired 5 estates using a paid-up capital of £180,000. Apart from rubber, it was also then involved with the planting of coffee and by 1956, the company was a major player in the industries where it managed 4,384 hectares of plantation.

It would continue to continue its acquisition exercise and expanded to Indonesia and the name then was changed to Kuala Lumpur-Kepong Amalgamated Limited with a 30,000 hectare plantations land in its stable. From there, it started working on oil palms which began rising in prominence. The May 13 riots in 1969 hit the company badly with its share plummeting and this was when the late Tan Sri Lee took over.

It then expanded to Sabah in 1983 and the market would eventually become the core revenue and profit generator for Kuala Lumpur Kepong Berhad. Growth was imminent and the company began venturing into new businesses that include fine foods, latex gloves, wood flooring and others. Later on, it would venture into property development where it became a main player in the market having built the commercial properties in Sungai Buloh.