Latest news with #HuiKwong
Focus Malaysia
4 days ago
- Business
- Focus Malaysia
Robert Kuok's daughter made Shangri-La CEO: Nepo baby or product of hardcore biz grooming?
SILVER Spoons or a position earned though merit from years of hard work and plenty of business acumen? Online comments were divided when reacting to news of that Kuok Hui Kwong, daughter of tycoon Robert Kuok, was appointed chief executive of Shangri-La Asia, beginning next month. As shared by BFMNews (@NewsBFM) on X, the 50-year-old will pocket RM312,000 salary along with other perks and benefits, while remining chairman of the hotel group. Robert Kuok's daughter Kuok Hui Kwong will become the chief executive of Shangri-La Asia on Aug 1, while continuing as chairman. According to the Straits Times, Hui Kwong, 47, will earn a monthly base salary of RM312,000, along with discretionary bonuses & pension benefits. 🧵1 — BFM News (@NewsBFM) July 16, 2025 However, any doubts about Hui Kwong's ability in the hospitality industry were quashed with the news report also highlighting she been with the company for nearly a decade as an executive director in June 2016 before becoming chairman in 2017. Basically, it is just business as usual with Shangri-La Asia justifying that 'combining the roles of chairman and chief executive under her leadership will improve strategic cohesion and execution across all levels'. With direct stakes in the company amounting to a 2.7% share of Shang-La Asia, there is added incentive. She takes over from former CEO Lim Beng Chee who retired three years ago but remains on the board as non-executive director. There were, of course, short-sighted comments about this is the result of being the scion of the Kuok dynasty. On the flip side, there were those who contended that she deserved it having served the company since 2016. It was also highlighted the company was not in the red and provided good services, thus further justifying Hui Kwong's stewardship of the brand. Another commenter highlighted that her RM312,000 salary was a drop in the ocean for a thriving family business. This was unlike 'the Sapura CEOs' who paid themselves close to RM1 mil per month, it was claimed. This is despite the oil & gas (O&G) outfit's haemorrhaging losses. Editor's note: Sapura Energy Bhd had made headlines for paying extremely high salaries to its top executives when the company was a loss-making entity. This commenter was quickly shut down for bringing race into the equation. But a few did agree that he was right in pointing out that other organisations that weren't doing so well were paying their top executives rather handsomely with government-linked companies (GLCs) singled out for special mention. Pos Malaysia Bhd posted losses of RM202.7 mil last year for the sixth consecutive time yet reportedly paid its CEO Charles Brewer triple of what Hui Kwong earns, claimed one commenter. Others just applauded Hui Kwong for being a strong female business role model. One commenter wondered why so many sour grape comments. It's after all family-owned business with legacy shares not public funds that some use and abuse. Of course, the salary may seem gargantuan to many people. But another commenter wondered aloud why is she even working at all given her family are super rich? She could very well be doing nothing, couldn't she? One commenter simply praised Hui Kwong for her hard work. Silver spoon or not, the hospitality field is a cut-throat industry and Hui Kwong has proved her mettle having steered the company for nearly a decade, most pertinently through the pandemic. One commenter simply congratulated her on the appointment. But the cheekiest comment perhaps summed up what the elderly tycoon may have thought of everyone else's opinions. – July 18, 2025
New Straits Times
5 days ago
- Business
- New Straits Times
Robert Kuok's daughter named Shangri-La Asia CEO
KUALA LUMPUR: Robert Kuok's daughter, Kuok Hui Kwong, will assume the role of chief executive at Shangri-La Asia Ltd on Aug 1. The company, which is listed in Hong Kong and Singapore, said in a bourse filing that she has served as its executive director since June 2016, and took on the position of chairman in January 2017. Hui Kwong, a Malaysian aged 47, will receive a monthly base salary of HK$576,000 (about RM312,000), along with discretionary bonuses and pension benefits. "Ms Kuok has played a key leadership role in the company since her appointment as an executive director in June 2016 and as chairman in January 2017. "She has been primarily responsible for formulating the company's strategic priorities and steering it towards its goals. "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," it added. Shangri-La Asia's former chief executive officer Lim Beng Chee retired in 2022 but remains on the board as a non-executive director. Hui Kwong holds a total direct and indirect stake of 95.57 million shares in Shangri-La Asia, representing 2.7 per cent of the company. Founded in 1971 by Kuok, the Shangri-La Group began with the launch of the Shangri-La Hotel in Singapore. In its 2024 annual report, the company stated it is operating more than 100 hotels, 81 of which it owns, across its four brands — Shangri-La, Kerry, Hotel Jen and Traders.
New Straits Times
5 days ago
- Business
- New Straits Times
Who is Kuok Hui Kwong, Robert Kuok's daughter, new Shangri-La Asia CEO?
KUALA LUMPUR: Kuok Hui Kwong, daughter of Malaysia's richest man Tan Sri Robert Kuok, is set to take the reins as chief executive officer of luxury hotel group Shangri-La Asia Ltd, effective Aug 1. The 47-year-old Harvard graduate has been a key figure within the company for nearly a decade, having served as executive director since 2016 and chairman since 2017. Her appointment as CEO will see her take on dual roles, following the retirement of former chief executive Lim Beng Chee in 2022. Lim continues to serve on the board as a non-executive director. In a filing to the Hong Kong and Singapore stock exchanges, Shangri-La Asia said Hui Kwong had played a "key leadership role" in steering the company's strategic direction and aligning its long-term goals. The group added that the unification of the chairman and CEO roles under her leadership is expected to strengthen strategic cohesion and operational execution. Hui Kwong, the sixth of eight children of the billionaire tycoon, holds a direct and indirect stake of 95.57 million shares in Shangri-La Asia, representing approximately 2.7 per cent of the company, as well as over five per cent in Kerry Group, a key shareholder of the hospitality group. Her new position comes with a monthly base salary of HK$576,000 (approximately RM312,000), in addition to discretionary bonuses and pension benefits. Founded in 1971 by Robert Kuok, the Shangri-La Group opened its first hotel in Singapore. It has since grown into a global luxury hospitality brand with over 100 properties under its portfolio, including Shangri-La Hotels and Resorts, Kerry Hotels, JEN, and Traders. Of these, 81 are directly owned by the group. According to Forbes, Robert Kuok remains Malaysia's wealthiest individual in 2025, with an estimated net worth of US$11.4 billion.
