Rejecting a Tempting RM4 Billion Valuation, Sunway Founder Stays True to His Vision of a Not-for-Profit Education Legacy
April 17, 2026
Key Takeaways
- Guided by purpose, Sunway’s founder and chairman builds a legacy that empowers generations through quality education.
*This article was first published in Oriental Daily and has been translated from the original Mandarin edition.
Rejecting the lure of a RM4 billion valuation, Tan Sri Dr. Jeffrey Cheah KBE AO has remained steadfast in his aspiration from the outset: to build an education system that exists not for profit, but for purpose.
At a press conference following the prospectus launch of Sunway Healthcare, the Sunway founder reiterated that Sunway Education Group will never go public.
More than a decade ago, an investment bank suggested that he list the education arm, estimating a market capitalisation between RM3.5 billion and RM4 billion. Cheah declined.
“When I decided to contribute to education, it wasn’t to make money, but to bring about long-term change to society,” he said.
That conviction has since shaped a comprehensive education ecosystem spanning kindergarten to doctoral and postdoctoral research.
Sunway Education has forged partnerships with Harvard, Cambridge, Oxford, and MIT; collaborations Cheah insists are only possible because the institution meets world-class standards. “Without that, such cooperation is simply out of the question,” he noted.
For Cheah, the mission is clear: Sunway Education is not for the benefit of families or individuals, but a long-term commitment to society.
He envisions Sunway University one day standing as the “Harvard of the East” or “Cambridge of the East,” and has set a bold target of entering the world’s top 200 universities by 2030.
“It’s not easy, but we are getting closer step by step,” he said, pointing to Sunway’s steadily rising rankings.
The not-for-profit positioning, he added, has become a powerful magnet for talent.
One professor told him candidly that he would never have joined if Sunway were profit-driven.
“Educators want to serve society, conduct the best research, and provide the best education for the younger generation,” Cheah explained.
“The purpose of education is to impart knowledge and wisdom to cultivate people with good values and character.”
The vice‑chancellors of Cambridge and Oxford once quipped to Cheah: “If Sunway continues to flourish as it has, one day we may aspire to be known as the Sunway of the West,” Cheah recalled.
For him, the ultimate measure of success lies not in market capitalisation, but in the generations of students who will carry Sunway’s name and values into the future.
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