Rising Shares Of AI-Powered Traffic Management Firm Earns Former Cop A Debut Spot Among Malaysia’s Richest

This story is part of Forbes’ coverage of Malaysia’s Richest 2025. See the full list here.

After a stint with the Royal Malaysia Police, Tan Boon Hock, who makes his debut in the ranks at No. 40 with $490 million, worked as an engineer then started his own electrical contracting firm in 1984.

A decade or so later he spotted another opportunity: offering laser eye surgery to correct shortsightedness. His Optimax Eye Specialist Center, which opened in Kuala Lumpur in 1995, got listed as Optimax Holdings in 2020. His daughter Sandy is CEO while Tan is executive deputy chairman.

Even before taking Optimax public, Tan had diversified into traffic control systems in 2007. He went on to acquire a stake in ITMax System, a provider of what it calls AI-powered smart city solutions such as video surveillance and traffic management. In 2022, ITMax bought his Sena Traffic Systems and went public.

Shares have jumped 41% in the past year, with ITMax, which is run by Tan’s son William, winning major contracts across Kuala Lumpur, Penang and Johor.