KUALA LUMPUR, Feb 23 — The founder of supermarket chain Jaya Grocer, Teng Yew Huat, has died at the age of 68.

Jaya Grocer chief executive officer Adelene Foo confirmed Teng’s death in a statement, financial daily The Edge Malaysia reported.

"As the founder of Jaya Grocer, he was the heart and driving force behind the success and growth of our company. His passing is definitely a profound loss to the team at Jaya Grocer and to the industry,” she was quoted as saying.

Teng’s family founded Jaya Grocer in 2007 with the first store opening in Jaya 33 in Petaling Jaya, Selangor.

However, the company was sold to Grab Holdings Ltd (Grab) in 2021.

The deal was believed to be worth up to RM1.8 billion for all of its ordinary shares and 75 per cent of its preference shares, as part of the ride hailing company’s expansion into the grocery segment.

According to Jaya Grocer’s website, the company currently operates 35 outlets across the country.

The Teng family also founded the well-known Teng Minimarket Centre (TMC) in Lucky Garden, Bangsar, as well as the Giant grocery store.

TMC and the Giant chains were subsequently sold to Hong Kong’s Dairy Farm International Holdings Ltd.