Malaysian tycoon Robert Kuok's daughter takes over Shangri-La Asia CEO role, earns over RM310,000 a month
The 47-year-old has served as the company's chairman since 2017 and has been an executive director since 2016.
Shangri-La Asia said her new role as both chairman and CEO is expected to improve 'strategic cohesion and operational execution by ensuring a unified and consistent vision across all levels of leadership'.
She succeeds former CEO Lim Beng Chee, who retired at the end of 2022. Lim remains on the board as a non-executive director.
According to The Straits Times, Kuok Hui Kwong is the sixth of Robert Kuok's eight children and ranked 40th on Fortune's 2024 list of the most powerful women in Asia.
Under her current contract, she receives a monthly base salary of HK$576,000 (RM311,630), along with discretionary bonuses and pension benefits.
She also holds a direct and indirect interest in 95.57 million shares, or about 2.7 per cent, of the company.
Kuok Hui Kwong graduated with a bachelor's degree in East Asian studies from Harvard University and previously served as managing director and CEO of SCMP Group, which publishes the South China Morning Post. The Kuok Group sold the media arm to Chinese tech giant Alibaba in 2016.
Founded by Robert Kuok in 1971 with the opening of the Shangri-La Hotel in Singapore, Shangri-La Asia today owns 81 of the more than 100 hotels it operates under its four brands: Shangri-La, Kerry, Hotel Jen and Traders. As of its 2024 annual report, its hotel assets had a net asset value of US$10.83 billion.
For the financial year ended December 2024, the group reported revenue of US$2.19 billion, a 2 per cent increase year on year, but net profit fell 12.3 per cent to US$161.4 million, weighed down by rising operating and financing costs.
Following news of Kwok Hui Kwong's appointment, Shangri-La Asia's shares on the Singapore Exchange rose 2.4 per cent to HK$4.67 as of 3.11pm today, though they remain down nearly 14 per cent for the year.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Malay Mail
27 minutes ago
- Malay Mail
AsiaInfo Technologies Integrates with NVIDIA Omniverse to Accelerate Smart Manufacturing Transformation
BEIJING, CHINA- Media OutReach Newswire - 28 July 2025 -("AsiaInfo Technologies" or the "Company"; HKEX stock code: 01675), a leading provider of software products, solutions, and services, today announced a strategic integration of its proprietary digital twin platform, AISWare Digital Gemini, MaaS (Model-as-a-Service) platform and intelligent platform, with, a powerful 3D workflow and application platform. This collaboration, combined with AsiaInfo Technologies' robust large model application delivery capabilities, aims to empower the transformation of China's manufacturing industry from "Made in China" to "Intelligent Manufacturing in China."Within the simulated environment built by AsiaInfo Technologies' digital twin platform and NVIDIA Omniverse, customers can conduct virtual scenario construction and training. This, coupled with large model application services, enables the planning, driving, and execution of real-world production activities, accelerating the adoption of AI technology in industrial a versatile tool for designing and building digital twin applications. It offers an exceptional visual experience and flexible scenario construction capabilities, deeply integrating technologies such as big data, IoT, GIS, 3D, new surveying and mapping, BIM, and AI. It provides one-stop digital twin scenario creation, orchestration, and business operation support for various application scenarios including networks, industrial manufacturing, city governance, and a platform comprising APIs, SDKs, and services that allow developers to integrate OpenUSD, NVIDIA RTX™ rendering technology, and generative physical AI into existing software tools and simulation workflows for industrial and robotics use addition, AsiaInfo Technologies' comprehensive large model application delivery capabilities, covering the entire development cycle from demand analysis, consulting and planning, product R&D, implementation and delivery, to operation and maintenance, ensure that industry-specific large models are precisely aligned with customer needs and effectively deployed in industrial manufacturing scenarios. Currently, AsiaInfo Technologies has successfully assisted domestic and overseas manufacturing enterprises in leveraging large models to build maintenance knowledge hubs, predict and diagnose equipment failures, and automate production forward, AsiaInfo Technologies will further deepen the integration of its digital twin platform with NVIDIA Omniverse. The Company will focus on industries such as industrial manufacturing, actively expanding market presence, developing innovative solutions, and driving project implementation and delivery to empower more #AsiaInfoTechnologies The issuer is solely responsible for the content of this announcement.
Malay Mail
43 minutes ago
- Malay Mail
SST exemptions for key construction projects, including homes, parks, and public toilets, says Ahmad Maslan
KUALA LUMPUR, July 28 — The government continues to support the construction sector by granting Sales and Services Tax (SST) exemptions for selected projects, particularly those involving residential buildings and public facilities, including houses of worship, recreational parks and public toilets, said Deputy Works Minister Datuk Seri Ahmad Maslan. He said essential building materials such as cement, aggregate (gravel) and sand remain zero-rated under the sales tax to help reduce the burden on developers and ensure the continuity of infrastructure projects. 'Selected business-to-business (B2B) activities are subject to certain conditions. For instance, main contractors are subject to SST, but not to subcontractors earning below the threshold of RM1.5 million,' he said during an oral question and answer session at the Dewan Rakyat today. Ahmad was responding to a question from Yusuf Abd Wahab (GPS-Tanjong Manis) regarding the categories of construction projects exempted from SST, as well as the ministry's steps to ensure that existing projects are not affected by its implementation. In line with the government's commitment to implement SST fairly and effectively, he said, companies and contractors that carry out contracts that do not allow for review will be granted a one-year exemption, subject to terms and conditions. 'This incentive is part of the government's measures to ensure the construction industry has sufficient time to adjust the system, streamline the registration process and obtain accurate clarification on the implementation of SST,' he said. Meanwhile, Ahmad said that there has been no discussion to increase the threshold value for registration of taxable services for the construction sector from RM1.5 million to RM3 million. He was responding to a supplementary question from Abdul Latiff Abdul Rahman (PN-Kuala Krai) regarding the industry's proposal for the threshold value for registration of SST taxable services to be increased from RM1.5 million to RM3 million, particularly for construction and rental and leasing categories. — Bernama
Malay Mail
43 minutes ago
- Malay Mail
Bank Negara trims 2025 GDP forecast to 4.0–4.8pc amid global uncertainties
KUALA LUMPUR, July 28 — Bank Negara Malaysia (BNM) has revised Malaysia's 2025 gross domestic product (GDP) growth projection to between 4.0 per cent and 4.8 per cent from 4.5 per cent - 5.5 per cent previously. The projection takes into account various tariff scenarios, ranging from continued elevation of tariffs to more favourable trade negotiation outcomes. In a statement today, the central bank said the forecast remains subject to uncertainties surrounding the global economy, both on the downside and the upside. 'Favourable trade negotiation outcomes, pro-growth policies in major economies, continued demand for electrical and electronic goods, and robust tourism activity could raise Malaysia's export and growth prospects,' it said. Meanwhile, BNM Governor Datuk Seri Abdul Rasheed Ghaffour said the Malaysian economy remains resilient despite global uncertainties, supported by the outcome of structural reforms undertaken over the years. 'The sustained strength in economic activity and moderate inflation provides a supportive environment to pursue structural reforms for a more resilient and competitive Malaysia in the future,' he said. — Bernama
