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Malaysia Rich List Newcomer Reaps Automatic Fortune

This story is part of Forbes' coverage of Malaysia’s Richest 2021. See the full list here. Tan Eng Kee, cofounder and CEO of Greatech Technology, joins the list with a net worth of $965 million, thanks to firm’s rising share price. The Malaysian company helps to automate factories. In 2020, the company’s profit rose nearly 70% to 92 million ringgit ($23 million) on revenue up 21% to a record 261 million ringgit. Analyst Chua Siu Li of Kuala Lumpur’s Public Investment Bank expects Greatech to continue on its growth path as it expands capacity and adds outposts in Europe and the U. S. The son of a taxi driver, Tan cofounded Greatech in 1997 with friend Khor Lean Heng, who is COO. Starting first with equipment for consumer electronics factories, they expanded into related areas and listed Greatech in 2019. Tan seems unfazed by his newfound wealth. “I never had dreams of becoming a billionaire,” he told Forbes Asia earlier this year, when his net worth had crossed $1 billion. “I have a simple life. I come to the office, do my job and I go home.” All data is taken from the source: http://forbes.com Article Link: https://www.forbes.com/sites/anuraghu... #greatech #newsone #bbcworldnewstoday #cnnnewstoday #newstodayoncnn #newsworldabc #