118 Capital
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Our inspiration

118 Capital draws its name from the majestic Merdeka 118 tower, the tallest building in Malaysia, second tallest in the world. Just as Merdeka 118 stands as a modern symbol of Malaysia's independence ("Merdeka" meaning independence), heritage, and progress on the very grounds where the nation's freedom was declared, 118 Capital embodies the ambition to continue a lasting legacy of growth and value creation. By associating with this iconic landmark, the fund signals its deep-rooted commitment to the Malaysian economy and its aspiration to continue the legacy of companies with a strong foundation. It is also a moment of "independence" for the founding entrepreneur where they can finally exit and retire.

A hands-on professional team with each having senior working experience in various sectors and roles

Meet the Team

ST Chua | Founding Partner



Focus: Synergy, expansion, biz dev, digitalisation


  • Digitalisation, operations and transformation expert, who previously held positions as MD of ChargEV where he grew revenues >400% year-on-year, Regional Director of Ikano Insight (IKEA) and GM in PETRONAS Dagangan dealing with 1070 franchised fuel stations
  • Raised R

ST Chua | Founding Partner



Focus: Synergy, expansion, biz dev, digitalisation


  • Digitalisation, operations and transformation expert, who previously held positions as MD of ChargEV where he grew revenues >400% year-on-year, Regional Director of Ikano Insight (IKEA) and GM in PETRONAS Dagangan dealing with 1070 franchised fuel stations
  • Raised RM100mil from Khazanah for ChargEV​
  • Investment professional, setting up Sunway Group‘s CVC and conducted M&As worth USD 1.3 billion in Maxis​
  • Former Co-founder/Chief Marketing officer of Verve Technologies (exited to Maybank), Global Business Developer for Rebate Networks GmbH and product specialist, Nokia​
  • B.Eng (Hons) Electrical & Electronics, MBA from INSEAD, France

Steven Tong | Partner | 

CEO of Kian Hin Trading S/B


Focus: Due diligence, corporate finance & restructuring


  • Became the CEO of our first successful acquisition into Kian Hin Trading in Q3’2024.​
  • Co-founder of Greenstable S/B, a dried goods and condiments importer, wholesaler and distributor​
  • Former Director of Metabuyer, a Sunway subsidiary pr

Steven Tong | Partner | 

CEO of Kian Hin Trading S/B


Focus: Due diligence, corporate finance & restructuring


  • Became the CEO of our first successful acquisition into Kian Hin Trading in Q3’2024.​
  • Co-founder of Greenstable S/B, a dried goods and condiments importer, wholesaler and distributor​
  • Former Director of Metabuyer, a Sunway subsidiary providing e-procurement solutions​ 
  • Former Co-founder/ Chief Financial & Operation Officer of Verve Technologies​
  • Manager in Maybank Investment Bank,  AVP in OSK Ventures and Manager in PwC​
  • ACCA, CFA charterholder

Lee Chi Hoe | Partner



Focus:  FP&A, operational efficiency



  • Proven track record in costs reduction, tax and audit planning, process reengineering, financing and working capital management. Previously held positions as EVP, Hitachi Sunway Systems and COO of  Sunway Building Materials Group
  • Various roles in NTT including Group CFO,  Malaysia MD

Lee Chi Hoe | Partner



Focus:  FP&A, operational efficiency



  • Proven track record in costs reduction, tax and audit planning, process reengineering, financing and working capital management. Previously held positions as EVP, Hitachi Sunway Systems and COO of  Sunway Building Materials Group
  • Various roles in NTT including Group CFO,  Malaysia MD of NTT Digital Biz Sol. , and Senior Director FP&A of NTT APAC. ​
  • Finance Director in Cape Range Wireless Group and Former Senior Accountant for Federal Hotel International (part of Low Yat Group) ​
  • CIMA, MIA, MBA from University of Strathclyde

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