13 Jan 2009 – Researching The Family Banking: Edited 2017
1940 picture: in Chinese jeckets – LAM SoongKee (grandfather) and LAM JiChiew (granduncle) with their families in Singapore.
Wikipedia stated Mr Lam Ting Yeu (supposedly LAM TinYue, my father) as the founder of the Kwong Lee Mortgage & Remittance Company some years and it is incorrect and now (2017) it has been corrected and edited. Will be traveling to Sarawak after the Chinese New Year to learn more and hopefully to take some pictures. My granduncle, LAM JiChiew was the founder of the Kwong Lee Mortgage & Remittance Company in 1905, not LAM TinYue (2nd row 1st right sitting on a chair in a white suit), my father who was born in 1911.
Began its operations in 1905 in Kuching, Sarawak, under the name of Kwong Lee Mortgage & Remittance Company, it granted loans against the security of export commodities such as pepper, rubber and other indigenous products. It provided the services of remitting money of migrant Chinese to their families in South East China.
It opened branches in Sibu (1923) and Singapore (1926).
After the Depression on 26 Oct 1934, the company was converted into a public company under the name Kwong Lee Bank/KLB 廣利銀行
Branches opened in Sarikei (1937) and Binatang (1973).
Kwong Lee Bank Limited which was later changed to Kwong Lee Bank Berhad on 15 April 1966.
Edited&added with the 2above pix Wed7Apr2021: appreciations&thanks to SK for informing me that there were 2otherKLBanks in JB/Malaysia (where she worked in the 1980s) and another one in KL/Malaysia which I have no idea that they existed??
Sun16May2021: tkx to cousin KarenLim – oh and of course google brought me to yr blog instantly and I saw that bank cheque …. my mum wld be able to verify that the logo was designed on our dining table by my father … I vaguely remembered that ….. ah memories are so powerful, we need to make more of them!
On 3 January 1994, the Hong Leong Group Malaysia acquired MUI Bank Berhad through Hong Leong Credit Berhad and renamed it as Hong Leong Bank Berhad HLBB. The acquisition of MUI Bank Berhad by Hong Leong Group Malaysia (which is controlled by Malaysian business tycoon Quek Leng Chan) followed shortly after an aborted takeover attempt of the MUI Group by another Malaysian tycoon Tan Sri Dato Vincent Tan Chee Yioun (through his vehicle Berjaya Corporation).
Thus Hong Leong Bank can claim that it started in 1905.
Bankers know that history is inflationary and that money is the last thing a wise man will hoard – Will Durant