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Loh Chye Teik | B.Acc(Hons),C.A.(M),FTII

LOH CHYE TEIK (Chinese: 骆财德; pinyin: Lùo Cái Dé; May 24, 1959 – August 25, 2019), was a Chartered Accountant, Licensed Auditor, and Chartered Tax Practitioner. He is regarded as one of the most significant professional figures of the 21th century in Penang, Malaysia. Through high standards of service, personalized financial advisory to his clients and friends, active participation in social work, generosity, outspoken political views, made him a public figure in the state for over three decades.

The first child of four of the Loh family, Chye Teik started his professional career in accountancy as an auditor in Penang Chartered Accountants firm in 1985. He set up his own accountancy and audit firm in 1994 which known as Tan & Loh, Chartered Accountants, an established medium size auditing firm in Penang and act as a Managing Partner.

Early Life

Chye Teik was born in Penang, Malaysia. He was from a humble family, wit his father working as a labor in the jetty and his mother working as a labor in a rubber estate. He spent his childhood in Penang, and went to Chung Ling High School, a secondary school in Malaysia, located in George Town, Penang. After graduating high school, he took up a position as a reporter in a local Chinese newspaper agency, while waiting for his application be approved by Institute of Teacher Education (Institut Pendidikan Guru – PISMP). He was then rejected by the teacher. Knowing that by furthering his education, he has a chance to improve his life, he enrolled himself into Chung Ling Private High School's Form Six pre-university programme to obtain STPM certificate, also formally known as Higher School Certificate (HSC).

Higher Education

His application with University of Malaya was accepted and he enrolled in Bachelor (Honours) of Accounting programme. During his university days he ran for the president position of the accounting club, and was elected as president in the year 1983.

Early Career

Loh Chye Teik graduated from University of Malaya, Kuala Lumpur with a Bachelor (Honours) of Accounting in 1984. Chye Teik started his professional career in accountancy as an auditor in Penang Chartered Accountants firm in 1985. He then set up his own accountancy and audit firm with only a desk and a chair in a rented corner in 1994 which known as Tan & Loh, Chartered Accountants, and eventually grew his firm into an established medium size auditing firm in Penang and act as a Managing Partner.

Professional Career

Loh Chye Teik, an aspiring accountant affiliated his firm with global brands like UHY, PKF and Parker Randall. in the early 2000s, He was affiliated with Parker Randall, a top ranked, international association of independent audit and accounting firms. He rebrand his firm by establishing Parker Randall Loh. However, his partnership with Parker Randall Malaysia ended in mid 2000s. Shortly after the partnership with Parker Randall ended, he quickly established a partnership with PKF International, and was elected as the managing partner of PKF Chartered Accountants Penang. The partnership with PKF ended in 2010s, and he formed a partnership with UHY Malaysia and established UHY Loh Chartered Accountants. In late 2010s, he has more than 60 professional staff focused on serving clients' needs with the utmost integrity, and two offices in Penang.

Loh Chye Teik is also an outspoken accountant. With a vast interest in teaching, he actively participates in public talks on topic related to economy, social and politic. In 2015 when Malaysia's government roll out GST, he organised many public talks and private class to help corporate implement a smooth transition from the existing SST to GST. He also give commentary, talks and provided insight to news agency and radio station annually on Malaysia's Annual Budget.

Professional Membership

Member of Malaysian Accountants

Fellow Member of the Chartered Tax Institute of Malaysia.

Directorship

Loh Chye Teik excel in the accountancy field and have contributed positively towards to local business community. Throughout his career, he had taken up several directorship position in both public listed companies and private companies, and have chaired audit committee several public listed companies.

He is an Independent Director of:

Ivory Properties Group Berhad (673211-M)

Olympia Industries Berhad (63026-U)

Director of:

Interesources Tax Advisory Sdn Bhd (526236-D)

Former Independent Director of:

JHM Consolidated Berhad (686148-A)

Political and Social Careers

Loh Chye Teik was a MCA Tanjung division secretary, and Komtar State Legislative Assembly coordinator, before being elected as Tanjung Reclamation MCA branch chairman. Chye Teik was a loyal MCA member who had provided ideas and insights on economic issues. With his strong professional background, he had constantly provided MCA with valuable economical insights and suggestions on economical policy. He resigned as a partner from his firm and contested in 2013 general election, under Komtar state constituency. He went up against Teh Lai Heng, DAP, and Liew Yeow Hooi, PCM, and loss the election to DAP by only securing 2,555 votes out of 13,249 votes. He then return to his profession after conceding from the 2013 general election.

Loh Chye Teik also actively participate himself in social work. He was Loh Si Tong Chong Seah deputy communications director and youth advisor. Furthermore, he was also the chairman of Zou Jia Quan Association, chairman of parent teacher association SJK(C) Sum Sun, a director of Heng Ee High School's board of director, a sponsor of Penang Buddhist Association, and an active member of 槟城丰收教会 in his late days.

Late days

He was diagnosed with cancer in early 2019. He died at the age of 60 on 25 August 2019.