The night was held within the grand walls of Foo Tye Sin's former mansion at No 1, Light Street (All photos: Low Yen Yeing/The Edge)
Surrounded by gems of historic Penang such as Fort Cornwallis, the State Assembly Building, the Supreme Court and City Hall, Light Street — George Town’s oldest thoroughfare — holds a provenance that no one would deny. Named after the island’s colonial founder Captain Francis Light, who established the Straits settlement in 1786, it has always been the epicentre of all major goings-on in Penang. But besides matters of civic and administrative importance, Light Street has also been the heart of the island’s wealth — and its wealthy.
At No 1 is none other than the former mansion of Foo Tye Sin. Completed in 1875, it was one of the first grand homes to be owned by someone who was not of European descent. Hong Leong Bank, which owns the property today, recently spearheaded a serious transformation of the 19th-century building which, according to Kevin Lam, Hong Leong Bank’s group managing director and CEO, represents the foundational milestone in a long-term strategic plan to elevate the bank’s entire network.
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As the seat of one of Penang’s great tycoons, the Light Street location is certainly auspicious, aligning perfectly with Hong Leong Bank’s vision of enhancing and even accelerating its regional wealth management proposition. To bring the vision to life, Hong Leong Bank recently partnered with The Edge Malaysia to host a private evening at No 1, Light Street. Representatives of global wealth and asset manager Lombard Odier, with whom Hong Leong Bank shares a strategic alliance were also present while several scions of the island’s great families turned up to discover just how sophisticated (and personalised) a private banking experience can and should be.
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Over a Kota Bistro-curated Peranakan fusion-inspired dinner paired with the finest Martell cognacs, a showcase of exquisite timepieces from Swiss Watch and live entertainment, guests were treated to market insights on comprehensive wealth architecture, and bespoke advisory services and tailored solutions for wealth preservation and transfer. There was a blockbuster film in 2018 whose crux revolved around the themes of extreme opulence, family ties and multi-generational wealth in the region. Hollywood got the title right, though. Crazy rich is something Asians love being. And Hong Leong Bank is just reminding us that it can more than help ensure things stay that way.
Yow Kuan Tuck (HLB), Lam, Datuk Sharan Valiram (Valiram) and Yap
This article first appeared on Sept 1, 2025 in The Edge Malaysia.
