Who Is Dato' Seri Koay Hean Eng? Founder of Kobay Technology from Penang
•By Maher Alias
Artikel ini juga tersedia dalam Bahasa Melayu
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In the world of stock investing on Bursa Malaysia, the name Kobay Technology Bhd (KOBAY, 6971) has been gaining significant attention - particularly after the company recorded a profit surge of over 100% in financial year 2026. Behind this success stands a corporate figure who started with just a vocational certificate - Dato' Seri Koay Hean Eng.
He is not only the founder and Managing Director of Kobay Technology, but also a Penang entrepreneur who has built a precision engineering empire over more than four decades. This article explores his life journey, business strategy, and roles in listed companies on Bursa Malaysia.
Dato' Seri Koay Hean Eng was born and raised in Penang. He obtained the Malaysia Vocational Certificate of Education in 1976. Despite not having a university degree, his hands-on experience in engineering became the foundation for building the Kobay Group empire.
With a strong technical background and entrepreneurial spirit, Koay Hean Eng began his career in the precision engineering industry - a sector that was still in its early stages in Malaysia at the time. This decision eventually brought him to the top of the industry, proving that academic qualifications are not the sole determinant of success.
In 1984, Koay Hean Eng founded Kobay Technology together with his brothers - Koay Cheng Lye and Koay Ah Bah @ Koay Cheng Hock. The company started as a small precision engineering workshop in Penang, which was known as the "Silicon Valley of the East" due to the booming electronics and semiconductor industry.
Kobay's initial focus was providing precision machining components for multinational companies in the electrical and electronics (E&E) sector operating in Penang. Consistent quality work and the ability to meet strict specifications from global clients made Kobay a preferred vendor.
Just 13 years after its founding, Kobay Technology was successfully listed on Bursa Malaysia in 1997 - a significant achievement for a local engineering company that started from the ground up.
The following are Dato' Seri Koay Hean Eng's roles in companies listed on Bursa Malaysia:
This information is as of 4 April 2026. Please refer to the latest annual report for verification.
Kobay Technology's journey from a small engineering workshop to a company listed on the Main Market of Bursa Malaysia is an extraordinary transformation story.
In the first decade, Kobay built a reputation as a reliable precision component provider. The company received various recognitions including Best Vendor Awards from multinational clients and Enterprise 50 Awards - a government recognition for high-performing small and medium enterprises (SMEs).
After listing on Bursa Malaysia in 1997, Kobay used the funds raised to expand production capacity and diversify technical capabilities. The company began offering more comprehensive services including metal stamping, sheet metal fabrication, and die casting.
Kobay expanded into new sectors including property development, pharmaceutical and healthcare, as well as asset management. This move demonstrates Koay Hean Eng's long-term vision of not relying solely on a single sector.
Today, Kobay Technology operates across five main segments showcasing the diversity of Koay Hean Eng's business empire:
Kobay's core segment encompasses:
According to BusinessToday, the manufacturing segment recorded a 27.2% year-on-year revenue increase in Q1 FY2026, supported by higher orders from the E&E sector.
Established in 2015, Kobay's property arm has grown rapidly with focus in Penang, Kedah, Perak, and Kuala Lumpur. The existing land bank has the potential to generate a gross development value (GDV) exceeding RM1.50 billion - comprising residential, commercial, mixed developments, and hotels.
This segment is involved in wholesale and retail of pharmaceutical, medicine, and healthcare products.
The group's investment holding and asset management segment, including investment portfolio management.
Includes support operations and management services to subsidiaries.
Kobay Technology's financial performance in FY2026 (ending June 2026) has attracted significant investor attention. Based on quarterly reports filed with Bursa Malaysia:
First Half FY2026 (Jul - Dec 2025):
Second Quarter FY2026 (Oct - Dec 2025):
This surge was driven by strong growth in the manufacturing segment, particularly orders from the E&E and semiconductor sectors which are expanding rapidly globally.
KOBAY's share price as of April 2026 was around RM1.45 per share. The next quarterly results report is scheduled for 20 May 2026.
Kobay Technology is a fully family-owned business. The three Koay brothers control the company through Kobay Holdings Sdn Bhd, which holds approximately 26% stake in Kobay Technology.
The involvement of the second generation in management demonstrates systematic succession planning. Koay Zee Ee and Koay Wooi Tatt represent the next generation being prepared to continue the family legacy in Kobay Group.
Dato' Seri Koay Hean Eng has received various recognitions throughout his career:
These recognitions not only prove the quality of Kobay's products and services, but also Koay Hean Eng's leadership in bringing the company to international standards. With operations spanning Malaysia, Singapore, and the United States, Kobay is now a global player in the precision engineering industry.
Dato' Seri Koay Hean Eng's story offers several valuable lessons for investors and entrepreneurs:
Dato' Seri Koay Hean Eng is the founder, Chief Executive Officer (CEO), and Managing Director of Kobay Technology Bhd (KOBAY, 6971). He founded Kobay in 1984 and has led the company for over four decades.
He is the founder and major shareholder of Kobay Technology Bhd through Kobay Holdings Sdn Bhd (~26% stake). Kobay Technology in turn owns ~53.16% of Lipo Corporation Berhad. He also holds directorships in various Kobay Group subsidiaries.
KOBAY (6971) share price was around RM1.45 per share as of April 2026. Please check the latest price on Bursa Malaysia or your trading platform for current information.
Kobay Technology operates in five segments: manufacturing (precision engineering), property development (GDV > RM1.5 billion), pharmaceutical and healthcare, asset management, and others.
For the first half of FY2026, Kobay recorded revenue of RM255.89 million (up 45%) and profit before tax of RM31.14 million (up 134%). The second quarter alone saw revenue of RM145.01 million with PBT surging 232%.
Investors are advised to check the latest Shariah-Compliant Securities List issued by the Securities Commission Malaysia (SC) as this status is updated periodically.
The second generation of the Koay family is already active in management. Koay Zee Ee (son of Dato' Seri Koay Hean Eng) serves as Director, while Koay Wooi Tatt (nephew) holds the position of COO.
Kobay Technology is headquartered in Penang, Malaysia. The company also has operations in Singapore and the United States, making it a global player in the precision engineering industry.
Dato' Seri Koay Hean Eng exemplifies a Malaysian corporate figure who built success through hard work, technical expertise, and long-term vision. From a small workshop in Penang in 1984, he has transformed Kobay Technology into a conglomerate operating across five business segments with revenue exceeding RM255 million per year.
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