Khoo Teck Puat / Maybank

The hospital treating your family in Yishun? Named after the guy who founded Malaysia's biggest bank — after they kicked him out.
If you've ever been to Khoo Teck Puat Hospital in Yishun, you've walked through the legacy of a man most Singaporeans can't place.
Here's what I didn't know until recently:
Khoo Teck Puat founded Maybank. Malaysia's largest bank. $217 billion in assets. 2,600 branches across Southeast Asia.
And he did it out of spite.
Khoo started as an apprentice bank clerk at OCBC in 1933. He was 16. For 26 years, he climbed the ranks to deputy general manager.
Then he asked for a seat on the board. They said no.
So he quit. Took 80 bankers with him. Crossed into Kuala Lumpur. And in 1960, founded Maybank — a direct competitor to the bank that rejected him.
But here's what he did differently.
OCBC and the foreign banks focused on major cities. Khoo went the opposite direction. He opened branches in small towns across rural Malaya — places where no bank wanted to set up. Rice farmers. Rubber tappers. People the industry considered unworthy of credit.
150 branches in three years. The fastest-growing bank in the world at the time. Everyone called it reckless.
It wasn't reckless. It was the strategy OCBC wouldn't let him execute.
Then it all went wrong. After Singapore separated from Malaysia in 1965, the Malaysian government accused Khoo of funnelling Maybank money into Singapore. They removed him as managing director. The bank he built from nothing — taken from him.
Most people would've disappeared.
Khoo did something else entirely. He convinced Maybank's new management to sell him the bank's Singapore properties for $50 million — including the Goodwood Park Hotel on Scotts Road, which Maybank had bought for $4.8 million.
He turned his own humiliation into a hotel empire.
His story isn't clean. In Brunei, the National Bank he founded collapsed under allegations that 90% of its loans went to his own companies. His son was jailed. Khoo was never convicted, but paid restitution to make the charges go away. It's a complicated legacy.
And yet — he died in 2004 worth $4.3 billion. His family has since donated over $345 million to Singapore — including the hospital in Yishun that bears his name.
Next time you pass KTPH, remember: it's named after a man who built Malaysia's biggest bank, got thrown out, and spent the rest of his life giving back to the country that raised him.
What's a building you walk past every day without knowing the story behind it?
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