Born in Singapore and educated at the Anglo Chinese School on the island, he made his fortune and his home in Malaysia. At the age of twenty, he joined the Overseas-Chinese Banking Corporation as a bank clerk, rising to officer after five years before joining Malayan Banking Berhad in 1960 as a manager. There he promoted to general manager when he was still only 34, and a year later in 1965 founded the Public Bank, starting operations a year later.

He was chairman of the bank for several decades, only stepping down in 2019 but still retaining his role as advisor. One of only three people in Malaysia permitted to own more than a 10% stake in a domestic financial institution, Teh owns almost a quarter the bank and more than 40% of Malaysian insurance company LPI Capital.

Among his many awards and recognitions he has received, is the ‘Greatest Malaysian Banker of All Time’ awarded by the Asia Pacific Brands Foundation.