By Sharen Kaur - October 14, 2024
KUALA LUMPUR: Sunway Group has grown from humble beginnings into one of Malaysia's top conglomerates, with a combined market capitalisation of more than RM35 billion.
The journey began in 1974 when founder Tan Sri Dr. Jeffrey Cheah started a small tin mining company in Malaysia.
Over time, the group expanded and diversified into various sectors, including property development, construction, education, healthcare, retail, and hospitality.
A pivotal moment in its history was the transformation of barren mining land in Bandar Sunway, Selangor, into a vibrant and thriving township.
Reflecting on this milestone, Cheah shared, "I was a little-known individual from Pusing, in Perak, a poverty-ridden town where many of my childhood friends could not afford to further their education due to the financial constraints faced by their families, but I am deeply grateful to my country for the opportunities it has blessed me with."
He was speaking at Sunway's Golden Jubilee Gala Dinner, celebrating the group's 50th anniversary.
Cheah expressed heartfelt gratitude to his loyal team and partners, stating, "I am lucky enough to celebrate this momentous occasion of Sunway's 50th anniversary with my long-serving and loyal team, as well as all of our partners and friends who made this milestone possible."
The gala dinner, attended by over 1,200 guests, was a tribute to Sunway's valued C-suite partners and stakeholders who have supported the group's growth and success.
In attendance were Minister of Human Resources Steven Sim, Subang Jaya state assemblywoman Michelle Ng, Japan's Ambassador to Malaysia Takahashi Katsuhiko, acting British High Commissioner David Wallace, EU Minister Counsellor Timo Goosman, and prominent business leaders Tan Sri Syed Azman of Weststar Aviation Group and Tan Sri Azman Hashim of AmBank Group.
Reflecting on his entrepreneurial journey, Cheah recalled the early days of Sungei Way Corporation Sdn Bhd, marked by hard work, sleepless nights, and scepticism from those who doubted his vision of building Malaysia's first green, sustainable, and integrated township—Sunway City Kuala Lumpur.
Cheah also highlighted that Sunway's success has enabled him to fulfil his lifelong dream of establishing the Jeffrey Cheah Foundation, which is dedicated to nation-building.
Operating under a not-for-profit structure, the foundation governs all entities under the Sunway Education Group and has disbursed over RM745 million in scholarships and grants as of 2024.
"I have been privileged and fortunate to be able to build an ecosystem comprising institutions of teaching and learning, as well as two medical schools working together in a holistic manner. The foundation, with several billion ringgit worth in assets, will continue to carry out this philanthropic mission in perpetuity," Cheah said.
Cheah added that such an ecosystem will not only help stem the brain drain but strengthen our human capital that is required if Malaysia is to achieve its goal of becoming a developed nation.
