To The Moon

In the bustling decades that transformed Singapore from a young nation into a global financial hub, one woman quietly built an empire that would become one of the region's most respected stockbroking firms.

That woman was Gloria Lee.

Born as Woo Sau Yin, Gloria's early life gave little indication that she would one day become a pioneer in Singapore's financial industry. She worked as an air stewardess before settling into family life as a housewife after marrying Dennis Lee Kim Yew. Dennis was a founding partner of the law firm Lee & Lee and the younger brother of Lee Kuan Yew.

At the time, few could have imagined that Gloria would eventually make history in one of the most male-dominated professions of her era.

Ironically, her journey into finance began not because of ambition, but because of medical advice.

An avid golfer, Gloria spent many hours under the tropical sun. Her doctor eventually instructed her to avoid excessive sun exposure. Looking for something new to occupy her time, she ventured into stockbroking during the late 1960s, joining the dealing room of Robert Wee & Co.

What started as a way to stay out of the sun soon became a passion.

She discovered a talent for understanding markets, reading investor sentiment, and building relationships. While many women of her generation were expected to remain in traditional roles, Gloria saw opportunities where others saw barriers.

In 1972, she made history.

Using $700,000 gathered from savings and bank loans, she became the first woman to purchase a seat on Singapore's stock exchange. It was a bold and risky move, especially at a time when stockbroking was overwhelmingly dominated by men.

That same year, she founded Kim Eng Holdings.

The firm's name carried personal meaning. "Kim" was taken from her late husband's name, while "Eng" came from a family friend. What began as a modest brokerage would eventually grow into one of Southeast Asia's most influential financial institutions.

Over the following decades, Kim Eng expanded far beyond Singapore. The company established operations across Malaysia, Thailand, Indonesia, the Philippines, Vietnam, and India. Its research, trading services, and market presence earned the firm a strong reputation among both retail and institutional investors.

The defining moment came in 1990.

Kim Eng became Singapore's first publicly listed stockbroker. Investor demand was extraordinary. An offering of just S$29.3 million attracted subscriptions worth approximately S$23 billion, demonstrating immense confidence in the company and its future.

By then, Gloria had become one of Singapore's most successful businesswomen. Yet she remained known for her practical approach, quiet determination, and willingness to take calculated risks.

After more than three decades at the helm, she stepped down in 2008 at the age of 82, passing leadership to her son, Ronald Ooi Thean Yat.

Three years later, in 2011, Malaysia's Maybank acquired Kim Eng for US$1.4 billion. The brokerage was eventually integrated into the bank and rebranded. By 2021, the Kim Eng name disappeared from Singapore's financial landscape, bringing an end to a brand that had been synonymous with stockbroking for nearly half a century.

When Gloria Lee passed away in 2023 at the age of 97, many younger investors may not have known her name.

Yet her legacy remained embedded in Singapore's financial history.

She was a woman who entered stockbroking simply to avoid the sun, became the first female member of the stock exchange, built a regional financial powerhouse, and proved that determination and vision could overcome even the most entrenched barriers.

From housewife to market pioneer, Gloria Lee's story was not merely about business success. It was about courage—the courage to step into a world where few expected her to succeed, and to leave it forever changed.