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A yellowed employment letter tells the story of humble beginnings that many Malaysians can relate to.
35 years ago, a young man received his first salary as an Audit Assistant at a Kuala Lumpur accounting firm – RM280 plus RM20 Cost of Living Allowance (COLA), totalling RM300.
That man, Koh Teck Peng, is now the founder and group principal of an accounting firm in Johor Bahru.
How tough were those days? There was no bank transfer back then, Koh recalls.
Every month, I’d walk to UMBC Bank – now RHB – queue up, and hand my paper cheque to the counter lady with a smile, saying this is my allowance.’ The bank teller would stamp it, count out the cash, and hand it over. That was my monthly ritual.
Life on RM300 a Month
His daily routine was gruelling but purposeful:
- Daytime: Working hard at Wisma Lee Yan Lian
- Evening: Rushing to Systematic College for Association of Chartered Certified Accountants (ACCA) classes
- Night: Studying until late
- Weekends: Cramming at ACCA headquarters near his office, occasional movies at Bukit Bintang
- Meals: Dinner often just a roadside curry puff
- Commute: Squeezed into mini buses with drivers racing like F1 racers
- Daily Load: Carrying audit files in one hand, pirated BPP ACCA textbooks in the other
Despite the tight budget, there was time for fun.
Someone suggested we learn ballroom dancing – not K-pop or hip hop, but waltz, cha-cha, and twist. A bunch of accountants dancing was absolutely hilarious!
What was RM300 worth in 1990? Not much, but enough, Koh says earnestly.
Most importantly, a company was willing to hire him and give Koh a chance to prove himself.
35 Years Later Today
He emphasises that the small UMBC bank check, though modest in amount, changed the trajectory of his life.
His senior colleagues were patient, correcting his mistakes in ticking, vouching, and referencing without embarrassing him.
Looking back 35 years later, he adds: “If I could walk to that same bank counter today, I’d still say ‘This is my allowance,’ then add: ‘It changed my life.'”
After a year and a half in KL, Koh returned to Johor Bahru in 1992.
His parting question: “Guess what my next salary was?”
READ MORE: [Watch] Accountant’s Salary Grows From RM2,800 To RM20,000 In 10 Years
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