How do you become a millionaire in Malaysia — effortlessly?
As the saying goes, many roads lead to Rome. Recently, I learned another way to make a million but this time around, it is rather passive and effortless. However, there is only one catch: You need to find someone like Teh Hong Piew and invest your money with him (or her) for the long haul.
Teh is the founder and chairman of Public Bank Berhad. If you bought a thousand shares of Public Bank in 1967 and subscribed to all its rights issuances, the value of your shares would be worth RM2.9 million by end 2016. If we include all dividends received, the total value of your investment is worth RM4.1 million!
When the CEO of Public Bank, Tan Sri Dato’ Sri Tay Ah Lek, announced this “little” fact, a large round of applause went round the annual …