KUALA LUMPUR, Dec 11 (NNN-Bernama) — Malaysia\u2019s seventh richest man, Dr Chen Lip Keong has passed away at the age of 76 on Dec 8, 2023, due to an illness.<\/p>\n\n\n\n
His death was announced by Hong Kong-listed NagaCorp Ltd and Bursa Malaysia-listed FACB Industries Incorporated Bhd (FACB) Monday.<\/p>\n\n\n\n
Chen was the founder and senior chief executive officer (CEO) of the NagaCorp group and the executive president of FACB.<\/p>\n\n\n\n
NagaCorp said Chen had established a solid foundation for the group with more than 28 years of steady growth, and his entrepreneurial, business and managerial experiences were instrumental to the group\u2019s success.<\/p>\n\n\n\n
\u201cUnder Chen\u2019s visionary leadership, the group has been achieving remarkable growth and development after years of careful navigation of the business and skillful and strategic management.<\/p>\n\n\n\n
\u201cOn behalf of all employees of the group, the board would like to express its deepest sorrow on Chen\u2019s passing and convey its deepest condolences to his family,” it said in a statement published on the company’s website Monday.<\/p>\n\n\n\n
NagaCorp also announced the re-designation of Chen\u2019s son, Chen Yiy Fon — an executive director of the company — as the new group CEO, effective Dec 10, 2023.<\/p>\n\n\n\n
Yiy Fon has previously served as the operations CEO since April 5, 2022, it said.<\/p>\n\n\n\n
FACB also conveyed its condolences to Chen\u2019s family in a separate filing with Bursa Malaysia (the stock exchange of Malaysia) to announce Chen\u2019s passing.<\/p>\n\n\n\n
\u201cOn behalf of all the employees of the group, the board expresses its deepest sorrow over Chen\u2019s passing and conveys its condolences to his family.<\/p>\n\n\n\n
\u201cThe board acknowledges his invaluable contributions and leadership over his 29 years with the group,” it said.<\/p>\n\n\n\n
According to Forbes\u2019 Malaysia’s 50 richest list announced on May 31, 2023, Chen was the seventh richest man in the country with a wealth or net worth of US$2.8 billion.<\/p>\n\n\n\n
— NNN-BERNAMA<\/p>\n","protected":false},"excerpt":{"rendered":"
KUALA LUMPUR, Dec 11 (NNN-Bernama) — Malaysia\u2019s seventh richest man, Dr Chen Lip Keong has passed away at the age of 76 on Dec 8, 2023, due to an illness. His death was announced by Hong Kong-listed NagaCorp Ltd and Bursa Malaysia-listed FACB Industries Incorporated Bhd (FACB) Monday. Chen was the founder and senior chief […]<\/p>\n","protected":false},"author":30,"featured_media":247876,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[215,288,300,318],"tags":[],"_links":{"self":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/247863"}],"collection":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/users\/30"}],"replies":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=247863"}],"version-history":[{"count":1,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/247863\/revisions"}],"predecessor-version":[{"id":247877,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/247863\/revisions\/247877"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/media\/247876"}],"wp:attachment":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=247863"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=247863"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=247863"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}