Sharing a vision with Taylor’s Education Group, CEO Datuk Loy Teik Ngan is inspired to be a force for good
The Loy family’s story of why they got into education deviates slightly from it being a means to escape chronic poverty. For them, education was an opportunity to get back on their feet after a hard fall.
“After my father died in 1997, his whole business went under. We lost everything — we didn’t even own a house. We only had one second-hand car for the whole family. We were all in debt because we had guaranteed his loans,” says Datuk Loy Teik Ngan of the drastic turn of events following the death of Tan Sri Loy Hean Heong, who founded MBf Group in 1963.
“All his assets were sold by the bank to pay off his loans, but it was not enough. So I had to go into restructuring. We were looking for a business to start and when the opportunity to acquire a very small stake [in Taylor’s Education Sdn Bhd] arose, it was something we could come up with some money and get a bank loan for. This was in 2001.”
For the full story, pick up a copy of The Edge Malaysia (July 6, 2020) at your nearest news stands or visit optionstheedge.com.