With a net worth of US$3.3 billion following 99 Speedmart’s IPO in August 2024, Lee Thiam Wah’s financial triumph is not just a personal victory but a redefinition of accessibility and efficiency in the retail landscape.

Born in Klang, Malaysia, Lee contracted polio as a child, leaving him wheelchair-bound. Rather than succumbing to challenges, he began his entrepreneurial journey by selling snacks at a roadside stall. With grit and an unwavering drive, he then opened his first grocery store in 1987, laying the foundation for the creation of 99 Speedmart.

Today, Lee has captured 40 per cent of the mini-mart market and nearly 12 percent of the overall grocery sector with over 2,600 stores nationwide. The brand’s emphasis on affordability and convenience, along with Lee’s strategic leadership has cemented its place as a staple in Malaysian neighbourhoods.

The recent US$531 million IPO of 99 Speedmart is Malaysia's largest in seven years.

Impacted Industries