Early Life
Lee Thiam Wah was born in Klang, Malaysia, in 1964. At just eight months old, he contracted polio, which resulted in permanent physical disability and confinement to a wheelchair. Despite his physical limitations and limited formal education (only six years of primary school), Lee displayed a strong drive to succeed. Coming from a low-income family, he began his entrepreneurial journey at the age of 14, selling snacks outside his home.
Rise to Success
In 1987, Lee invested his savings to open his first grocery shop, Pasar Raya Hiap Hoe, in Klang. This initial venture provided him with valuable insights into the retail business. In 1992, he founded the Pasar Mini 99 chain, later rebranded as 99 Speedmart in 2000. The number "99" was chosen to signify the nature of imperfection in this world and as a marketing strategy to offer affordable prices.
Key Business Strategies
Lee's business model focused on affordability, convenience, and efficiency. He strategically located stores in residential areas, offering a wide range of essential goods at competitive prices. Lee also emphasized an efficient supply chain and cost management to maintain profitability.
Philanthropy
Lee Thiam Wah and 99 Speedmart have shown a commitment to the community, including during the COVID-19 pandemic with food aid. In April 2025, UTAR Hospital received a RM10 million donation from Lee and his wife to support the expansion of its Cancer Centre.