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KUALA LUMPUR: Jaya Grocer has announced the passing of founder Teng Yew Huat.
“As the founder of Jaya Grocer, he was the heart and driving force behind the success and growth of our company.
His passing is definitely a profound loss to the team at Jaya Grocer and to the industry,” said CEO Adelene Foo in a statement.
“We request you to respect the privacy of the family during this difficult time. A memorial service is being planned and we will share further details with you as soon as it’s finalised.”
Jaya Grocer, a household name in Malaysia, was started by the Teng family in 2007 as a good value supermarket grocer to meet the discerning appetite of Klang Valley residents for quality fresh produce and household goods for their everyday needs.
Its first store was opened in Jaya 33 in Petaling Jaya, but it has since expanded to 36 outlets.
In 2021, the shareholders sold all of the grocery chain’s ordinary shares and 75% of the preference shares to Singapore-based ride-hailing firm Grab for an amount said to be between RM1.5bil and RM1.8bil.
The deal was inked weeks after the Teng family bought back its entire stake in the chain from Southeast Asia-focused private equity investor AIGF Advisors Pte Ltd.
