KUALA LUMPUR (Nov 11): Tan Sri Tiong Hiew King, tycoon and founder of Sarawak timber firm Rimbunan Hijau Group, has passed away.

Tiong, 95, died at 11am on Tuesday, Sin Chew Daily reported without citing a source. Media Chinese International Ltd (KL:MEDIAC), a company Tiong controlled, owns the Chinese-language daily newspaper.

Media Chinese later confirmed the death of its substantial shareholder in an exchange filing.

“The board expresses deepest sorrow and regret and wishes to show its gratitude for the contributions made by Tiong to the company during his tenure and convey its consolation to his family,” the company said.

He is survived by his wife, Ngu Yii Chuo, and five children — his eldest son Tiong Chiong Ong and daughters Datuk Tiong Ing, Tiong Ching, Tiong Chiew, and Tiong Choon. His youngest son, Tiong Chiong Hoo, died in 2020 as he was found unconscious in his office.

Born in Sibu, Sarawak in 1935, Tiong spent a large part of his youth tapping rubber before working for an uncle who ran a timber company. He founded Rimbunan Hijau in 1975 which acquired its first modern sawmill and moulding factory in Tanjung Ensurai, near Sibu five years later.

By the 1990s, he cemented his position as one of Malaysia’s most powerful tycoons with interests in forestry, plantations, property, media, and telecommunications with operations sprawling continents from China to the US and from Australia to Brazil.

He received an honorary knighthood in 2009 which allows him to use the title "Sir" though the award by the UK monarchy was highly criticised by environmental activists over his fortune built on the destruction of forests of Indonesia, Papua New Guinea and the Solomon Islands.

At the end of April, Forbes ranked him and his family the country’s 25th richest with a fortune estimated at US$820 million (RM3.5 billion).

While the conglomerate he founded controls hundreds of listed and non-listed subsidiaries, Tiong built a dominance in the Chinese-language media scene with titles including China Press, Guang Ming Daily, and Nanyang Siang Pau. He also owned Ming Pao Daily News in Hong Kong.

Tiong Choon, the youngest daughter, has since taken over the helm at Media Chinese — a company regarded by the family as the most meaningful, though not necessarily the most valuable. She also sits on the board of Jaya Tiasa.

Other listed companies Bursa Malaysia controlled by him are Jaya Tiasa Holdings Bhd (KL:JTIASA), Subur Tiasa Holdings Bhd (KL:SUBUR), and Rimbunan Sawit Bhd (KL:RSAWIT).