19 WONG THEAN SOON AND DATUK NORRAESAH MOHAMAD

Flagship: My EG Services Bhd and Excel Force MSC Bhd Net worth: RM3.36bil WONG Thean Soon or better known as TS Wong in corporate Malaysia, has jumped to the 19th position in 2017, together with his business partner, Norraesah.

They are deemed shareholders in MyEG and Excel Force, holding interests in the two listed companies via Asia Internet Holdings Sdn Bhd, Asia Internet E-Services Holdings and Radio Port Ltd.

MyEG is an e-Government services provider, while Excel Force is into the development, provision and maintenance of computer software application solutions for the stockbroking industry.

Wong, 43, graduated from the National University of Singapore with a bachelors degree in electrical engineering. He has over 20 years of experience in the ICT industry, with his involvement in designing, implementing and the maintenance of communications applications on the Internet in various technology companies, both local and abroad.

Meanwhile, 69-year-old Norraesah is a former senator and was also chairman of Bank Kerjasama Rakyat Malaysia. She emerged as a substantial shareholder in MyEG last year with a 30.41% stake, after she acquired executive director Datuk Raja Munir Shah Raja Mustapha’s stake in Asia Internet Holdings.

Asia Internet is the single biggest shareholder in MyEG, with 29.9% of MyEG’s issued share capital.

Norraesah currently serves as MyEG’s executive chairman, while Wong has been the managing director and executive director of MyEG since March 6, 2000.

Earlier last year, MyEG made its first overseas venture, backed by its infrastructure capacity to set up electronic government services. MyEG inked a joint-venture agreement with I-Pay Commerce Ventures Inc to provide electronic government services in the Philippines and other related services.

This includes the provision of other services such as electronic payment in the Philippines.

In December 2017, MyEG was also granted a moneylender’s licence by the Urban Wellbeing, Housing and Local Government Ministry for a period of two years.

Some 54 property developers in Peninsular Malaysia have money-lending licences to provide loans to home buyers.

The licence allows developers to provide bridging loans to house buyers, especially first-timers, to secure end-financing for their property acquisitions.