IOI Group chief Lee Shin Cheng dies aged 79

IOI Group executive chairman Tan Sri Lee Shin Cheng speaks during IOI Properties Group’s EGM in Putrajaya January 2, 2016. — Picture by Firdaus Latif
IOI Group executive chairman Tan Sri Lee Shin Cheng speaks during IOI Properties Group’s EGM in Putrajaya January 2, 2016. — Picture by Firdaus Latif

KUALA LUMPUR, June 2 — Tan Sri Lee Shin Cheng died last night at the age of 79, according to media reports.

The IOI Group executive chairman had been due to retire upon his 80th birthday tomorrow.

The cause of his death was not reported but a family member told Star Online that details of Lee’s funeral will be announced today.

Lee was father-in-law to Energy, Science, Technology, Environ­ment and Climate Change Minister Yeo Bee Yin who married his youngest son this year.

In the Forbes list of billionaires this year, Lee had been the fifth richest man in the country with an estimated net worth of US$4.7 billion (RM19.3 billion).

IOI Corp confirmed that Lee died peacefully last night.

Lee leaves behind his wife, six children and 12 grandchildren.

The tycoon’s tale was one of rags-to-riches, having grown up in rubber fields where his father had operated a food store.

He went on to become the head of the IOI Group that is a world leader in the oleo-chemicals sector and among the largest palm oil planters in the country.

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