Penang monk wins RM1 million — and plans to give it away

When Bank Simpanan Nasional called Chan Chai Siang to tell him he had won RM1 million, he did not pick up.

“I received three calls, but only answered one because I thought it was a scammer. When I was told I had won RM1 million, I really didn’t believe it and thought it was impossible,” he said. He only accepted the news as real after BSN representatives visited him in person at his hermitage in Air Itam.

The 73-year-old Buddhist monk is now BSN’s latest millionaire — and what he plans to do with the money is what makes his story worth telling.

From factory floor to monastic life

Chan spent his working years in factories across Singapore and Penang, including a stint as a supervisor. When he reached his 40s, he was ordained as a monk and has spent the past 30 years in monastic life.

He comes from a family of eight siblings, of whom only three are still alive.

He only started saving in BSN SSP in January 2025, after a friend recommended the programme. He accumulated savings of between RM2,000 and RM2,500 over two years through small, gradual deposits.

“I just save little by little. Sometimes RM10, sometimes more,” he said. Most of that money came from donations and angpau he received from the public.

He had barely cleared the minimum threshold to qualify. He still won.

“Money is only as useful as the purpose it serves”

Chan said he has yet to finalise his plans for the prize money, but intends to use it wisely.

“Money is only as useful as the purpose it serves. Use it well, and it brings happiness to yourself and others. That is where its true meaning lies,” he told reporters at BSN’s Penang main branch on Jalan Macalister on Tuesday, June 23.

His immediate priorities are clear. He plans to support fellow monks facing medical expenses and gradually expand his temple, which has been providing medical treatment for those who travel to Penang to seek relief from illness.

Chan pointed out that monks in Malaysia do not enjoy the same level of institutional support as their counterparts in countries such as Thailand, making mutual aid within the monastic community all the more important.

When asked whether the win was a blessing from the Buddha, Chan said it was more a matter of karma tied to past life conditions — not something that can be sought or granted. His parting words were direct. “

Save for your rainy days. It is hard to rely on your children. In the end, we have to rely on ourselves.”

This story was first reported by The Star, Sinar Daily and The Sun on June 23, 2026.

What Is BSN SSP — and could you be next?

The BSN Sijil Simpanan Premium (SSP) is a government-guaranteed savings programme that has been running since 1978. It is structured under the Shariah-compliant mudharabah concept, and prizes won through the programme are exempt from income tax.

The programme is open to anyone aged 12 and above, including new and existing BSN customers. You can start with as little as RM10, but you need to save a minimum of RM3,000 to be eligible for the monthly Millionaire Draw.

For 2026, BSN SSP offers total prizes worth RM28 million for over 16,000 savers across ten draw categories — with one new millionaire crowned every month from January to December. The December winner gets something extra: a RM1 million BSN SSP certificate plus a Porsche Macan.

Every RM10 saved earns one draw entry. The more you save, the higher your chances. You can open an account at any BSN branch, through the myBSN portal online, or via ATM and mobile banking.

Chan Chai Siang saved a little at a time, from donations and angpau, with no expectation of winning anything. He thought he was just building a rainy day fund. It turned into RM1 million.

You do not have to be a monk to start saving. But it probably helps to start today.