Public Bank co-chairman Thong dies

Public Bank Bhd's (PBB) co-chairman Tan Sri Thong Yaw Hong, 85, passed away on Thursday following a period of illness.

"We are indeed greatly saddened by the loss," PBB Chairman Tan Sri Dr Teh Hong Piow said today.

The board of directors of the Public Bank Group acknowledge Thong's par excellence calibre and his invaluable contributions over his 29 years with the group, he said in the statement.

"Thong will always be remembered for his stature in the government service and corporate world," he added.

Thong was appointed as Public Bank chairman in 1986 and re-designated as co-chairman in 2002.

He had also served as co-chairman of various companies in the Public Bank Group, which included Public Islamic Bank Bhd and Public Investment Bank.

In the goverment sector, Thong was involved primarily in the fields of socio-economic development planning and finance.

He had served in the Economic Planning Unit in the Prime Minister's Department since 1957 and became its director-general from 1971 to 1978 and served as Finance Ministry secretary-general from 1979 until his retirement in 1986.