Meet woman, daughter of Malaysia’s richest man, who studied at Harvard, now set to lead Rs 18852 crore empire as…
She joined the company, which is owned by his father, in 2014 and has served in various roles. But what is his father’s business, which made him the richest man in Malaysia?
Many billionaires around the world send their children to the top institutes for higher education before handing over the reins of their business empires. One such person has been appointed as the CEO of a family business empire. Her name is Kuok Hui Kwong, daughter of Malaysia’s richest man, Robert Kuok Hock-nien. The businesswoman is set to lead luxury hotel group Shangri-La Asia, effective August 1.
Who is Kuok Hui Kwong?
Kuok is the daughter of Malaysia’s billionaire Robert Kuok Hock-nien. She is the sixth of Robert Kuok’s eight children. The 47-year-old has been serving as Shangri-La Asia’s executive director since June 2016 and chairman since January 2017. She joined Shangri-La Asia Limited’s Board of Directors in 2014 and served as Deputy Chairman in 2016. She is also a director of China World Trade Center Company Limited, Kerry Group Limited and Kerry Holdings Limited.
She holds a Bachelor’s degree in East Asian Studies from Harvard University, US. Kwong was also previously MD and chief executive of SCMP Group and director of Bangkok Post. Under her current employment contract, Kuok is entitled to a monthly base salary of USD 73,000, plus a discretionary bonus and pension.
Kuok Hui Kwong’s father
The richest man in Malaysia, Kwong’s father, Robert Kuok, owns Kuok Group, which has interests in hotels, real estate and commodities. He founded the internationally renowned Shangri-La Hotels and Resorts chain in Singapore in 1971. Kuok started his career in business trading rice, sugar, and wheat flour in 1949 in Johor. He now has a net worth of USD 12.4 billion, as of July 17, as per Forbes.
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Shangri-La Asia revenue
In 2024, Shangri-La Asia reported a revenue of USD 2.19 billion (Rs 18852 crore), up 2 per cent from a year earlier. However, its net profit fell 12.3 per cent to USD 161.4 million, according to its annual report. The group is listed on both the Hong Kong and Singapore exchanges.
“The combination of the roles of chairman and chief executive officer under the leadership of Ms Kuok is expected to enhance the company’s strategic cohesion and operational execution by ensuring a unified and consistent vision across all levels of leadership,” Shangri-La Asia said in a bourse filing after Kwong was appointed CEO.
