KUALA LUMPUR (Feb 23): Jaya Grocer founder Teng Yew Huat has passed away at the age of 68.
The matter was confirmed by the company’s chief executive officer Adelene Foo in a statement.
“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,” she said.
Jaya Grocer was founded in 2007 by the Teng family with the purpose of establishing a premium supermarket brand. Its first store was located at Jaya 33 in Petaling Jaya, Selangor.
In 2021, it was sold to ride-hailing and delivery firm Grab Holdings Ltd (Grab) in a deal which was believed to be worth up to RM1.8 billion for all of its ordinary shares and 75% of its preference shares, as part of the ride hailing company’s expansion into the grocery segment.
According to Jaya Grocer’s website, the company currently operates 35 outlets across the country.
The Teng family also founded the well-known Teng Minimarket Centre (TMC) in Lucky Garden, Bangsar, as well as the Giant grocery store.
TMC and the Giant chains were subsequently sold to Hong Kong’s Dairy Farm International Holdings Ltd.
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