Following the announcement of his passing, many have paid tribute to Tan Sri Dato Sri Dr Teh Hong Piow’s towering achievements, his tenure as one of the most successful bankers of our time and his many contributions to Malaysia’s economic journey. He is described as a giant of the banking fraternity, having founded and dedicated his life to building one of Malaysia’s most successful banking groups, not just domestically but also within the Asian region.
I have a personal story that goes beyond this great man as a banker. There are many successful and rich businesspeople, bankers, financiers, investors and entrepreneurs. But there are not many who are also honourable, good and trustworthy men of high integrity.
In 1991, when I started PhileoAllied Securities, I was introduced to Tan Sri Teh over lunch by his then executive director, Harry Menon. Accompanying him was Tan Sri Tay Ah Lek. I explained my vision and the business model. Public Bank went on to provide all the bridging facilities for the stockbroking activities (there was a three market days financing gap between paying the stock exchange and receiving payments from clients). This enabled PhileoAllied Securities to play a role in successfully bringing in some of the world’s largest portfolio investors. It was the period of the greatest bull stock market in the history of the country.
Our banking relationship strengthened and when I started PhileoAllied Bank, it was, once again, Public Bank that helped provide us with loans to capitalise our bank.
Then came the Asian Financial Crisis. Our collateral, the listed equities we held, collapsed by some 80% to 90%. There was no way we could make good on our margin of financing. I went to see Tan Sri Teh and explained our predicament. To my surprise and joy, he told me not to worry, service the loans, and gave me time to rebuild and recoup. I could hardly believe it myself. Many others would have seized the opportunity and taken over the company, which after all was doing well and was ahead of others in innovation and technology. Such is this man, his decency, integrity and honour. And it is this, more than anything else, that puts him a class above the rest.
And for me, I owe my early business success to him more than to anyone else. For this, I am eternally grateful.
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We came into this world naked with no possessions, we leave naked, with no possessions too, but for the deeds we have done and the people we have touched!
May God bless his soul.
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