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IOI Corp founder passed away

Tan Sri Dato’ Lee Shin Cheng, the founder and chairman of IOI Corporation Bhd, passed away June 1, 2019, two days before his birthday today. The head of the palm oil conglomerate died after a period of illness with no disclosed cause of death.

Lee was listed at number five in Malaysia’s 50 Richest for this year, with a net worth of US$5.4 billion.

The plantation tycoon is well known for the tale of having been rejected employment in British owned Dunlop Estates due to his poor English, only to buy over the company in 1989, which became the basis of his venture into the oil palm plantation and the upstream process.

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