Tan Sri Chen Lip Keong, the seventh richest man in Malaysia, passed away at the age of 76 on December 8, 2023, due to an illness. His death was announced by his Hong Kong-listed company NagaCorp Ltd and Bursa Malaysia-listed FACB Industries Incorporated Bhd (FACB) on December 11, 2023. Chen was a prominent businessman and philanthropist who made significant contributions to the gaming and hospitality industry in Asia.
Chen was the founder and CEO of NagaCorp, a company that operates the NagaWorld casino in Phnom Penh, Cambodia. He was also the chairman of FACB, a company that is involved in property development, construction, and engineering. Chen’s net worth was estimated to be USD 6.4 billion, making him one of the wealthiest people in Malaysia.
Chen’s passing has been met with sadness and condolences from the business community and the public. Many have praised his contributions to the development of the gaming and hospitality industry in Asia and his philanthropic efforts, which included donations to COVID-19 relief efforts in Cambodia. This article will explore Chen’s life and legacy, including his business ventures, philanthropy, and impact on the gaming and hospitality industry in Asia.
Biographical Overview
Tan Sri Chen Lip Keong was a Malaysian businessman who made significant contributions to the integrated resorts, property, and energy industries. He was born on July 22, 1948, and passed away on December 8, 2023, at the age of 76 due to an illness [1]. In this section, we will explore his early life, career achievements, philanthropy, and personal interests.
Early Life and Education
Chen Lip Keong was born and raised in Malaysia. He completed his education in Malaysia and later pursued a degree in civil engineering at the University of Adelaide in Australia [3]. After completing his degree, he went on to obtain a Ph.D. in corporate finance from Southern California University for Professional Studies in the United States.
Career Achievements
Chen Lip Keong was known for founding the NagaWorld casino in Phnom Penh, Cambodia, which was the only integrated resort in the country [1]. He also founded FACB Industries Incorporated Bhd, a company involved in property development, energy, and other businesses [4]. In 2022, he was the seventh-richest man in Malaysia [2].
Philanthropy and Personal Interests
Tan Sri Chen Lip Keong was known for his philanthropic activities. He established the Chen Lip Keong Foundation, which focuses on education, healthcare, and poverty alleviation in Malaysia and other countries [4]. He was also a supporter of the arts and sponsored various cultural events in Malaysia.
In his personal life, Chen Lip Keong was known to be an avid collector of art and antiques. He had an extensive collection of Chinese porcelain and other artifacts. He was also a lover of nature and enjoyed spending time in his garden, which was home to a variety of rare and exotic plants.
Overall, Tan Sri Chen Lip Keong was a successful businessman and philanthropist who made significant contributions to various industries. His legacy will continue to inspire and influence future generations of entrepreneurs and philanthropists.
References
- Malaysia’s 7th richest man Tan Sri Dr Chen Lip Keong passed away
- Chen Lip Keong – Wikipedia
- Tan Sri Chen Lip Keong | Tatler Asia
Circumstances of Passing
Date and Location
Tan Sri Dr. Chen Lip Keong, the Malaysian billionaire behind NagaWorld, passed away on December 8, 2023, at the age of 76 due to an illness. The exact location of his passing has not been disclosed.
Public Statements
His death was announced by Hong Kong-listed NagaCorp Ltd and Bursa Malaysia-listed FACB Industries Incorporated Bhd (FACB) on December 11, 2023. Both companies expressed their condolences and paid tribute to Tan Sri Dr. Chen Lip Keong’s contributions to the business world.
Memorial Services
As of the time of writing, no public memorial services have been announced. However, it is expected that his family and close friends will hold a private service to honor his memory.
Tan Sri Dr. Chen Lip Keong’s passing has been met with sadness and condolences from the business community, as well as his friends and family. He leaves behind a legacy as a successful businessman and philanthropist, known for his contributions to the integrated resorts, property, and energy industries.
