Background
Khoo Kay Peng was born in 1939.
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Khoo Kay Peng
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He serves as the Chairman and a major shareholder of Laura Ashley PLC
Khoo Kay Peng was mentored by Khoo Teck Puat, who founded Malayan Banking in 1960. Khoo Kay Peng joined the new bank and soon became a manager. In 1965, he was seconded to Bank Bumiputra, and quickly rose to a senior position.
In his ten years there, he built relationships with Tengku Razaleigh Hamzah, Robert Kuok and Tan Koon Swan.
He left in 1976 to start his own business, developing property in Kuala Lumpur with a loan from Southern Banking, which made him a millionaire. In 1976, he bought a major stake in MUI Group, then a manufacturer of toothbrushes and household utensils, and used it as a vehicle for a series of corporate takeovers, growing MUI to a $91 million pre-tax profit in 1984.
He is the owner of MUI Group, a conglomerate which includes "retail, hotel, food and financial-services interests in Asia, Australia, the United States. and the United Kingdom" according to Forbes. He also owns 44% of Laura Ashley plc and serves as its Chairman.
He is a Director of Corus Hotels.
He is the 44th richest person in Malaysia, with an estimated wealth of United States$300 million according to Forbes. However, the Financial Times suggested he was worth an estimated £400 million in February 2014.
