Lee Shin Cheng Heads the company "IOI Group" Country: Malaysia

Biography of Lee Shin Cheng

Lee Shin Cheng is a prominent Malaysian businessman and the founder of the "IOI Group", one of the world's leading companies in palm oil manufacturing and processing. Born and raised in Kuala Lumpur, Lee Shin Cheng grew up on a rubber plantation where his father ran a small Chinese store. As a young boy, Lee Shin Cheng helped his father sell ice cream after school to earn money for his education.

After completing his secondary school education, Lee Shin Cheng aspired to work as a plantation controller at a palm oil production plantation. However, he was initially rejected due to his lack of English language proficiency, which was a primary requirement at the time when most of the plantations were managed by Europeans. Nevertheless, fortune smiled upon Lee Shin Cheng as he was accepted at another palm oil plantation where he began working as a field supervisor. This marked the beginning of his career in the palm oil industry.

During that time, palm oil was widely popular among the local population for cooking purposes. In 1982, Lee Shin Cheng became the manager of a small company called "Industrial Oxygen Inc." Two years later, he transformed the company into one of the largest palm oil producers. In 1995, the company changed its name to "IOI."

Under Lee Shin Cheng's leadership, IOI Group expanded its operations and became a global player in the palm oil industry. The company's Rotterdam refinery is the largest of its kind in Europe, producing specialized oils, metallic stearates, and fats used in the production of cleaning products, decorative cosmetics, and food additives. In addition to the palm oil business, Lee Shin Cheng also owns a leading construction company in Malaysia, involved in the development of cities, shopping centers, and tourist resorts.

Lee Shin Cheng is married and has six children. His children are actively involved in the management of his businesses, with his eldest son currently heading the IOI Group. With an estimated net worth of $3.9 billion, Lee Shin Cheng is the fourth richest person in Malaysia and ranks 349th on the Forbes list of the world's wealthiest individuals.

In recognition of his outstanding contributions to the country's manufacturing sector, Lee Shin Cheng was awarded the Malaysian Man of the Year title by the Malaysian government in 2001. In February 2002, he received an honorary doctorate degree in agriculture from the University Putra. Known for his expertise, Lee Shin Cheng also provides guidance and advice to various enterprises and holds positions such as a board member of the University Putra, advisor to the Chinese Chamber of Commerce, and honorary president of the Malaysian Palm Oil Association and the Association of Engineers Malaysia.