Lee Thiam Wah’s journey from a roadside snack seller to a billionaire retail tycoon is a testament to the power of perseverance, determination, and a customer-focused approach. His company, 99 Speed Mart, has become a household name in Malaysia, boasting over 2,600 convenience stores across the nation.

The recent US$531 million IPO of 99 Speed Mart Retail Holdings marked a significant milestone for both Lee and the Malaysian capital markets. This listing not only cemented Kuala Lumpur as a thriving hub for IPOs in Southeast Asia but also showcased the growing optimism in Malaysia’s economic potential.

Lee’s humble beginnings, coupled with his physical limitations, did not deter him from pursuing his entrepreneurial dreams. He started his retail venture with a grocery shop and gradually expanded it into a thriving chain of convenience stores. Today, 99 Speed Mart holds a dominant market share in the mini-market segment in Malaysia.

The company’s success can be attributed to its focus on convenience and affordability. The ‘Near n’ Save’ tagline reflects its commitment to providing customers with easy access to essential goods and services at competitive prices. This customer-centric approach has helped 99 Speed Mart build a loyal customer base and establish a strong market position.

Lee’s IPO not only marked a personal triumph but also provided a significant boost to the Malaysian economy. The proceeds from the IPO will be used to expand the company’s operations, including setting up new outlets, distribution centers, and purchasing delivery trucks. This investment will create jobs and contribute to economic growth.

Lee Thiam Wah’s story is an inspiration to aspiring entrepreneurs, demonstrating that with hard work, dedication, and a focus on customer needs, it is possible to achieve great success, even from humble beginnings. His journey serves as a reminder that anyone, regardless of their circumstances, can make a positive impact on the world.