‘What we promise, we deliver’: Sunway founder Jeffrey Cheah on building a legacy of trust

SINGAPORE – Just across the Causeway, Malaysian conglomerate Sunway Group is slowly adding to the skyline of the bustling Johor Bahru city.

The group, founded by Tan Sri Jeffrey Cheah in 1974, is partnering Malaysia’s Mass Rapid Transit Corporation (MRT Corp) to build a mixed-use project worth over RM4 billion (S$1.2 billion) – right next to the JB terminus of the upcoming

Johor Bahru-Singapore Rapid Transit System (RTS) Link.

And just 3km away, the Sunway Majestic, a 46-storey apartment building, was also launched in early October, attracting Singaporeans and Malaysian buyers who work in the Republic.

Speaking to the Singapore media over lunch in Kuala Lumpur on Oct 22, Mr Cheah said these two developments will complement Sunway City Iskandar Puteri near the Second Link, an 810ha township within the Johor-Singapore Special Economic Zone. The idea, he said, is to make Sunway “a major gateway from Singapore to Malaysia at both the Causeway and the Second Link”.

Now worth about US$3 billion (S$3.9 billion) and ranked Malaysia’s ninth richest according to Forbes, Mr Cheah’s cross-border connection started almost half a century ago, when he opened a small office in Senoko Drive in 1976.

From those early beginnings, Sunway has quietly expanded its footprint in Singapore, partnering Hoi Hup Realty and Sing Holdings in residential projects.

In September, it acquired MCL Land from Hongkong Land, and completed the deal on Oct 31, lifting its total investments in Singapore to about RM14.9 billion.

The Singapore operations will be renamed Sunway MCL and will serve as Sunway’s platform for regional growth.

The 80-year-old tycoon said he had been deliberate about growing Sunway’s presence in Singapore only after building a strong foundation at home.

“We do our home ground first. We train ourselves well enough then we go outside,” he said, adding that Sunway also has to make sure that it can find ways to create sustainable value, given the differences in operating costs in Malaysia and Singapore.

Sunway, which started as a small tin mining company, is now one of South-east Asia’s largest conglomerates with interests in 13 business lines spanning real estate, education, healthcare, retail, hospitality and leisure.

Building self-sustaining townships

Mr Cheah has been a champion of a model that integrates healthcare, senior living and education within self-sustaining townships.

In his view, a hospital should be near where seniors live so they can see a doctor quickly in case of medical emergencies.

With this vision in mind, he launched Sunway Sanctuary in mid-2023 in the Kuala Lumpur township. The senior living residence is connected to Sunway Medical Centre, and sits atop the Tower D hospital block, from level 15 to 30.

As at June 2025, the take-up rate is 50 per cent for the first phase of the project, which consists of 235 rooms.

“There is a community. They (the elderly residents) mix around, play mahjong with friends, do yoga or swim,” he said.

Sunway Sanctuary is a 15-minute walk to retail and entertainment outlets in the Sunway Pyramid mall and can be accessed by the electric bus network or the free shuttle bus service.

When Sunway Square opens on Dec 11, there will be more retail and a 24-hour library.

A performing arts centre will open in 2026, providing social and entertainment opportunities for seniors.

“One day, they may not only be in the audience. They can even perform,” said Mr Cheah’s eldest daughter Sarena, one of his four right-hand people, who was also present at the interview.

Sunway Sanctuary is Mr Cheah’s test bed for senior living. If successful, he said he will replicate the model in other townships, such as the one in Iskandar Puteri and his home town in Ipoh.

The company started work on the Iskandar Puteri township a little over a decade ago. 

Today, the ecosystem is slowly falling into place, with retail, hotels, offices, schools and residences. A medical complex with assisted living and an educational institution are also in the pipeline.

Mr Cheah said the hospital will have 401 beds with advanced medical technology and specialist services upon completion. Phase one is on track to finish by 2030.

He added that a 4.5km-long car track for racing enthusiasts will be ready by Chinese New Year in February 2026, complete with a bonded warehouse that allows Singaporeans to store their supercars in the township duty-free.

The membership is not going to be cheap though, he noted, adding that he will take in at most 420 members.

Mr Cheah has come a long way since quitting his accountant job to be an entrepreneur, and surviving two near bankruptcies in 1986 and 1997.

Today, three of his companies, Sunway Construction, which does the building works; Sunway Real Estate Investment Trust, which owns the properties; and Sunway Berhad, which operates the businesses, are listed on Bursa Malaysia. The healthcare arm, Sunway Healthcare, will list in 2026.

Singapore’s sovereign wealth fund GIC, which has a 16 per cent stake in Sunway Healthcare, will trim its shareholding to around 8.2 per cent, while Sunway will retain majority control with 69.5 per cent of the shares.

“We will not be selling a lot because we are very confident in the medical centre and the healthcare business,” he said. 

Paying it forward

Mr Cheah is paying it forward by making quality education affordable and accessible to as many qualified Malaysians as possible.

“Quality education is my hope of giving back to society in a useful and productive way,” he said.

In 2010, he gifted his entire equity stake in Sunway Education Group, which comprises Sunway international schools, Sunway colleges and Sunway University, in perpetuity to a foundation. 

The foundation is Malaysia’s largest education-focused social enterprise and is on track to award more than RM1 billion in scholarships and research grants by 2026.

He hopes the students who study in the institutions will go on to work for Sunway.

Sunway Medical Centre, for example, collaborates with the medical schools within the Kuala Lumpur township. Diploma courses are also offered to train nurses for the hospital.

As Sunway’s footprint expands across both sides of the Causeway, Mr Cheah’s legacy rests on a principle he lives by: What is promised will be delivered.

He said that is the reason why MRT Corp awarded the coveted integrated project next to the RTS Link to Sunway.

“What we promise, we deliver,” he said – even if it means making a loss because the reputation costs more than the money spent on finishing a project.

“I can tell the board we have never abandoned any projects,” Mr Cheah said. “If you give the job to us, you will not have sleepless nights, but I will have sleepless nights.”