Current Role | Founder and Advisor, 99 Speedmart |
Previous Position | Owner, Pasar Raya Hiap Hoe (1992–2000) |
Key Recognition | Malaysia’s “King of Mini-Marts” | Ernst & Young Entrepreneur of the Year (2020) | Forbes Malaysia’s Top 50 Richest |
Background and Early Foundations
Lee Thiam Wah was born in 1954 in Klang, Malaysia, and faced adversity from the start. A bout of polio at age eight left him reliant on a wheelchair for life. Raised in a family of 11 siblings with limited means, Lee learned early the importance of grit and resourcefulness. Using savings from a small sundry shop, he opened his first minimart — Pasar Raya Hiap Hoe — in 1987.
By 1992, he founded 99 Speedmart, which would go on to redefine convenience retail across Malaysia by offering affordable goods and unmatched community access.
Career Milestones and Impact
Year | Milestone |
|---|---|
1992 | Founded 99 Speedmart; began building a high-efficiency minimart model |
2008 | Reached 100 outlets, marking 99 Speedmart as a major national player |
2017 | Surpassed 1,000 stores; expanded into warehousing and in-house logistics |
2025 | Operating over 2,500 stores across Malaysia and Singapore |
- Store Count: Over 2,500 outlets nationwide (2025)
- Employees: 10,000+
- Daily Transactions: Over 1.5 million
- Business Model: Cost efficiency, rapid replenishment, and urban penetration
- Key Differentiator: Combines physical retail and proprietary logistics under one roof
Leadership Style and Influence
Known for his low-profile and operations-first approach, Lee:
- Avoided splashy marketing, letting value and access build brand equity
- Built an integrated logistics and distribution network long before the e-commerce boom
- Prioritized walkable access in underserved neighborhoods, especially in semi-urban Malaysia
- Remains a mentor and advisor to young entrepreneurs facing physical and economic obstacles
Legacy and Future Focus
Lee Thiam Wah’s legacy is the proof that resilience and retail discipline can scale without hype:
- Created a business that reshaped Malaysia’s minimart landscape
- Paved the way for inclusive entrepreneurship regardless of background or disability
- Inspired a generation of homegrown business owners in ASEAN’s emerging economies
Though retired from day-to-day management, Lee remains focused on:
- Scaling digital inventory and payments at 99 Speedmart
- Supporting social mobility initiatives for disabled entrepreneurs
- Preserving the company’s founding values of humility, discipline, and access
