Sunway Group: 50 Years of Growth and Success
Sunway Group has evolved from humble beginnings into one of Malaysiaโs top conglomerates, with a combined market capitalization of over RM35 billion. Founded by Tan Sri Dr. Jeffrey Cheah in 1974, what started as a small tin mining company has now diversified into multiple sectors, including property development, construction, education, healthcare, retail, and hospitality.
From Tin Mining to Township Development
A pivotal moment in the group’s journey was the transformation of a barren mining land in Bandar Sunway, Selangor, into what is now a thriving and vibrant township known as Sunway City Kuala Lumpur.
Reflecting on this milestone, Cheah shared, โI was a little-known individual from Pusing, Perak, a poverty-ridden town. Many of my childhood friends couldnโt afford to further their education due to financial constraints. I am deeply grateful to Malaysia for the opportunities it has blessed me with.โ
Celebrating 50 Years of Success
Cheah expressed his gratitude during Sunway’s Golden Jubilee Gala Dinner, celebrating the group’s 50th anniversary. Attended by over 1,200 guests, including prominent C-suite partners, government officials, and diplomats, the gala highlighted the company’s successful journey and honored the stakeholders who supported its growth.
Among the distinguished guests were Minister of Human Resources Steven Sim, Subang Jaya state assemblywoman Michelle Ng, Japan’s Ambassador to Malaysia Takahashi Katsuhiko, and Tan Sri Azman Hashim of AmBank Group.
Cheah acknowledged his teamโs loyalty and hard work over the years, saying, โI am lucky enough to celebrate this momentous occasion with my long-serving and loyal team, as well as all our partners and friends who made this milestone possible.โ
The Jeffrey Cheah Foundation: A Legacy of Giving Back
Cheah’s entrepreneurial success has allowed him to pursue his lifelong dream of establishing the Jeffrey Cheah Foundation, dedicated to nation-building and philanthropy. Operating under a not-for-profit structure, the foundation oversees all entities under the Sunway Education Group and has disbursed over RM745 million in scholarships and grants as of 2024.
โI have been privileged to build an ecosystem comprising institutions of teaching and learning, including two medical schools. The foundation, with several billion ringgit in assets, will continue its philanthropic mission in perpetuity,โ Cheah said.
He emphasized that this ecosystem would not only help stem the brain drain but also strengthen Malaysiaโs human capital, essential for the countryโs vision of becoming a developed nation.
A Legacy of Innovation and Sustainability
Sunwayโs journey over the past five decades is a testament to Jeffrey Cheahโs vision and determination. From its early days as Sungei Way Corporation Sdn Bhd to its growth into Malaysiaโs first green, sustainable, and integrated township, Sunway has led the way in innovative development.
As Sunway looks to the future, it remains committed to its Environmental, Social, and Governance (ESG) goals, focusing on sustainable development and community-building efforts that will continue to shape the nation for years to come.
Stay tuned as Sunway continues to pave the way in nation-building and philanthropy, cementing its place as a leader in Malaysiaโs corporate landscape.
