Latest news with #Shangri-LaAsia
India.com
3 days ago
- Business
- India.com
Meet The Daughter Of Malaysia's Richest Man, Set To Lead Rs 18,000-Crore Hotel Empire; Know Her Salary And Her Father's Net Worth
photoDetails english 2934276 Kuok Hui Kwong Success Story: Kuok Hui Kwong was born into unimaginable wealth — the daughter of Malaysia's richest man, surrounded by every comfort money could buy. Yet, instead of choosing the easy path of luxury, she chose a road far less travelled: one of hard work, quiet perseverance, and purpose. With crores in her bank account, she could have lived a life of ease. But she dreamed bigger of earning respect not for her name, but for her efforts. Inspired by her father, Robert Kuok, a self-made visionary who built the Shangri-La empire from the ground up, she followed in his footsteps, not just by legacy but by example. A Harvard graduate with global vision, she rose through dedication, not entitlement. Her story is a reminder that true success isn't inherited — it's earned, one decision, one challenge, and one dream at a time. Updated:Jul 20, 2025, 12:17 PM IST Kuok Hui Kwong: New CEO of Shangri-La Asia 1 / 9 Kuok Hui Kwong, daughter of Malaysia's richest man Robert Kuok, has been appointed CEO of luxury hotel group Shangri-La Asia, effective August 1. Her leadership marks a significant transition in the company, reinforcing the Kuok family's deep-rooted legacy in the hospitality industry. Shangri-La Asia: Executive Leadership Since 2016 2 / 9 At 47, Kuok has served as executive director of Shangri-La Asia since 2016 and chairman since 2017. The company, listed in Hong Kong and Singapore, officially announced her CEO appointment in a stock exchange filing, marking her steady rise within the group's leadership. Kuok Hui Kwong Education 3 / 9 Kuok, aged 50, holds a bachelor's degree in East Asian Studies from Harvard University. She assumed interim leadership after former CEO Lim Beng Chi resigned in 2022. Lim continues to serve on the board as a Non-Executive Director, maintaining continuity in the company's governance. Kuok Hui Kwong Husband 4 / 9 Kuok Hui Kwong is married to Bryan Gaw, and together they have two sons, balancing her prominent leadership role in business with family life. Malaysia's Richest Man: Founder Of Shangri-La And Net Worth 5 / 9 Kuok is the sixth of eight children of Robert Kuok Hock-nien, founder of Shangri-La and Malaysia's richest man, with a Forbes-estimated net worth of US$11.4 billion (around Rs 95,290 crore). Her appointment further cements the family's legacy and continued influence within the Shangri-La brand. Kuok Hui Kwong's Career In Media And Publishing 6 / 9 Beyond hospitality, Kuok briefly led the South China Morning Post as CEO in 2012. She also served as a director at the Bangkok Post. The SCMP was later acquired by Alibaba in 2015, ending the Kuok family's control through Kerry Holdings. Kuok Hui Kwong's Holds Stakes In Shangri-La 7 / 9 Kuok holds direct and indirect stakes totaling 95.57 million shares in Shangri-La Asia. Adding further, she owns over 5 percent of Kerry Group, one of the major shareholders in the hotel group, giving her significant financial and strategic influence. Kuok Hui Kwong Salary 8 / 9 Under her current contract, Kuok earns a monthly base salary of HK$576,000 (approximately Rs 61.63 lakh). She is also entitled to a discretionary bonus and pension, reflecting her key role in steering the luxury hospitality brand into its next phase. Shangri-La Asia Assets And Revenue 9 / 9 Shangri-La Asia operates more than 100 hotels worldwide under four brands—Shangri-La, Kerry Hotels, JEN, and Traders. The group, which began with one hotel in Singapore in 1971, now manages US$13.2 billion in assets. In 2024, Shangri-La Asia reported revenue of US$2.19 billion (Rs 18,286.5 Crore), a 2 percent increase from the previous year. (Image Credit: Social Media)
India.com
4 days ago
- Business
- India.com
Meet Kuok Hui Kwong, daughter of Malaysia's richest man, who leads Rs 180000000000 business of..., has graduated from...
Meet Kuok Hui Kwong, daughter of Malaysia's richest man, who leads Rs 180000000000 business of..., has graduated from... Shangri-La Asia has appointed Kuok Hui Kwong as its new CEO from August 1. According to SCMP, this appointment comes after Lim Beng Chee steps down from the post of CEO in December 2022. The leadership of the company will now be united under the leadership of Kuok Hui Kwong. According to the company, assigning Kuok the roles of both chairman and CEO will increase synergy in the strategy and functioning of the company. This will ensure a common vision at all levels. 47-year-old Kuok Hui Kwong has been an important figure on the board of Shangri-La Asia for many years. She joined as executive director in June 2016 and became chair in January 2017. The company says she has played a key role in setting strategic priorities and guiding long-term goals. She quietly took over the leadership of the group after her brother stepped down last year, SCMP reports. She had previously served as deputy chair for six months. Who is Kuok Hui Kwong? Kuok Hui Kwong holds a bachelor's degree in East Asian studies from Harvard University. She is the sixth of eight children of Robert Kuok Hock-nien, the founder of Shangri-La and Malaysia's richest man. According to Forbes, her net worth is $11.4 billion. Apart from hospitality, she has also held top editorial roles. She was also the CEO of the South China Morning Post from January to June 2012. Later in 2015, Alibaba acquired the newspaper and its parent SCMP Group. Earlier it was controlled by Kerry Holdings, the flagship company of the Kuok family. She has also previously served as a director of the Bangkok Post. What are Kuok's financial interests in Shangri-La? Despite her growing influence, Kuok avoids media interviews and keeps a low profile. According to a CNA report, Kuok's financial interests in Shangri-La are substantial. Her total direct and indirect stake in the company is 95.5 million shares. She also has more than 5 percent stake in Kerry Group, which is a major shareholder in Shangri-La Asia. Under her current contract, she is entitled to a monthly base salary of about $73,000, bonuses and pension. Shangri-La business empire is huge Shangri-La Asia is listed in both Hong Kong and Singapore. It operates more than 100 hotels worldwide under four brands such as Shangri-La, Kerry Hotels, Jane and Traders. The company started with one hotel in Singapore in 1971. Now it manages assets worth $13.2 billion. The Kuok family has stakes in 77 of these properties. The group also has related ventures in wine, golf courses and real estate. In 2024, Shangri-La Asia reported revenue of $2.19 billion (about Rs 18843 crore), up 2 per cent from the previous year. However, net profit fell 12.3 per cent to $161.4 million. The group had about 25,500 employees as of the end of 2023. This is a decline of 2.3 per cent from the previous year.
Focus Malaysia
5 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
Straits Times
5 days ago
- Business
- Straits Times
Is it acceptable to talk about money on the first date?
Mr Brandon Hill and Ms Alexandria Ang experienced tensions as old ideas about who should provide clashed with their reality of Mr Hill earning less money than Ms Ang. Four years ago, fresh out of law school, Ms Blessing Akinsilo was excited about her first real date in years. She had drinks with her match at a bar in Los Angeles, and the conversation felt easy. Things were going well – until he asked what she did for work. They started guessing each other's salary. He was an aspiring actor juggling part-time gigs. She was working in entertainment law. When her date assumed she was making more money than he was, she laughed and admitted that she had six figures of student loan debt. His face twisted in surprise. Ten minutes later, they were splitting the cheque and saying awkward goodbyes. She never heard from him again. Months later, Ms Akinsilo and a man she had matched with on the dating app Hinge were messaging and joking about student loans. She figured it was safe to tell him how much she owed on her loan, thinking he would relate. But when he learnt that her level of debt dwarfed his – he owed a quarter of what she did – the messages dried up fast. They never made it to a first date. 'I wish I could go back in time and tell myself, 'Don't bring up these student loans and other things,'' said Ms Akinsilo, now 31 and still navigating the dating scene. For generations, couples have danced around conversations involving money in the early stage of a relationship. Top stories Swipe. Select. Stay informed. Singapore Driverless bus in Sentosa gets green light to run without safety officer in first for S'pore World US strikes destroyed only one of three Iranian nuclear sites, says new report Business 5 things to know about Kuok Hui Kwong, tycoon Robert Kuok's daughter and Shangri-La Asia head honcho Asia Air India probe into Boeing 787 fuel control switches finds no issues Singapore Man charged over manufacturing DIY Kpods at Yishun home; first such case in Singapore Singapore Sex first, then you can sell my flat: Women property agents fend off indecent proposals and harassment Singapore Two women jailed for submitting fake university certificates to MOM for employment passes Singapore Fatal abuse of Myanmar maid in Bishan: Traffic Police officer sentenced to 10 years' jail Whether out of discomfort, fear of being judged or simply not knowing when or how to bring it up, many people avoid talking about how much they earn, how much they owe or how they like to spend their money. More Americans feel comfortable discussing politics or religion than conversing about their finances, according to a 2024 Bankrate report. This reluctance is evident in pop culture. In the film Materialists, a romantic comedy written and directed by Celine Song that debuted in June, Dakota Johnson plays a matchmaker named Lucy who makes a point of learning about the finances of the men she meets and takes on as either clients or lovers. One of these prospects, a man named Harry who works in finance (played by Pedro Pascal), is taken aback when Lucy asks him what his salary is. He declines to give an exact figure. Things have shifted in recent years. A 2023 survey by Northwestern Mutual found that more than 70 per cent of Americans believed that a conversation about money should occur 'well ahead of marriage or living together'. Many financial experts agree that such conversations should happen sooner rather than later. Job insecurity and mass layoffs during the pandemic also pushed money to the centre of everyday conversations. Economic pressure is leading many people to ask questions about finances earlier in their relationships, sometimes even on the first date, said Ms Aja Evans, a financial therapist in New York City and the author of Feel-Good Finance. 'Two things can be a deal-breaker for people in relationships: kids and money,' Ms Evans said. The first date Ms Lori Powell did not hold back anything on her first date with Mr Dave Powell, who is now her husband. She laid out everything: divorced with two children, not a fan of sweaty outdoor activities, high heels over sneakers. She also said she was debt-free. Mr Powell told her that he had three daughters, that he had a steady job running a non-profit and that half his salary went to his former wife. But it was not until things got serious between the couple that he revealed he had about US$15,000 in credit card debt. It was a shock but not a deal-breaker, Ms Powell said. Before they married in 1997, she said, she sold a piece of property in Tampa, Florida, for about US$40,000 and paid off the debt so they could start fresh. Thirty years later, they are still together, living in Lakeland, Florida, and still working. Mr Powell, 75, works in sales, and Ms Powell, 66, runs what she calls a vintage market. They have a combined income of US$200,000 (S$255,000) a year. The couple credit their long-lasting marriage to the tough money conversations they had at the beginning. 'No secrets is imperative to a happy relationship,' Ms Powell said. 'You can have a private life, but not a secret life.' Ms Daphney Poyser, a matchmaker and relationship coach at Fern Connections, said she agreed with the Powells. She recommended asking questions about career goals, money and lifestyle habits by the third date, before things get too serious, so surprises do not pop up. Getting on the same page Ms Alexandria Ang and Mr Brandon Hill, both 25, did not waste time talking about money – once they actually had some. They began dating during their freshman year at Macalester College in St Paul, Minnesota, and landed jobs soon after graduating. Mr Hill, a part-time music teacher chasing his music dreams, and Ms Ang, a social media manager, knew that she would have to carry a bigger financial load early on, because she made more money. But once they moved into a one-bedroom apartment in Minnesota's Twin Cities, Mr Hill wrestled with not being 'the provider'. 'When we graduated college, reality hit us like a truck,' Ms Ang said. 'We were like, 'Oh, my God, we can't depend on dorm life and school any more.'' For over a year, Ms Ang covered the rent while Mr Hill paid for groceries and household basics. But tension built as old ideas about who should provide clashed with what worked for them in reality. After some tough conversations, Mr Hill shifted to a full-time manager-in-training role at a gym so he could contribute to bigger bills, and the couple started weekly budget meetings. They now live in a two-bedroom town house and are engaged. They believe that once your relationship is exclusive, conversations about money also need to include discussing what feels fair, comfortable and sustainable for both partners. Reading between the lines Ms Kiana Brooks, a senior buyer at a luxury fashion brand who is in her late 20s, has no idea how much her girlfriend makes, and she said she was perfectly fine with that. After nearly a year of dating long-distance, racking up frequent-flier miles between New York and Los Angeles, the couple said they cared less about the numbers on their pay cheques and more about whether their lifestyles clicked. Ms Brooks loves to travel. To celebrate their one-year anniversary, she and her girlfriend, Ms Nia Gaines, are headed to Paris, the city where they made things official. They are splitting hotel costs, paid separately for their airfare and are paying alternately for meals. The way they spend, the couple said, reveals more than any spreadsheet or bank statement could. Ms Brooks thinks people should inquire more about someone's lifestyle and daily habits than about their finances. 'We always say long distance works as long as you're not broke,' she said. 'If she's like, 'I can't come to see you,' I don't have to hear her say she can't afford it. You can read between the lines.' NYTIMES
Straits Times
5 days ago
- Sport
- Straits Times
Packed Open leaderboard as McIlroy scrambles to stay in touch
Golf - The 153rd Open Championship - Royal Portrush Golf Club, Portrush, Northern Ireland, Britain - July 17, 2025 Denmark's Jacob Skov Olesen reacts on the 18th green during the first round REUTERS/Paul Childs PORTRUSH, Northern Ireland - Denmark's Jacob Skov Olesen, China's Li Haotong, England's Matthew Fitzpatrick, South African Christiaan Bezuidenhout and American Harris English shot four-under-par 67s to share the British Open first-round lead at Royal Portrush on Thursday. World number one Scottie Scheffler was one stroke adrift, and Rory McIlroy scrambled to a 70 after a rollercoaster round in which he bogeyed the first hole and fought back to three under before fading on the back nine. After early sunshine on the Dunluce Links, heavy rain and wind made conditions difficult for the players. Qualifier Olesen, the world number 354, sank a 40-foot birdie putt on the tough opening hole and eagled the 12th before making his second bogey at the last. "Obviously, annoyed to finish off with a bogey and not getting it up in two from there. But it happens, and whether it happens on hole seven or hole 18, at the end of the day, it doesn't matter," Olesen said. Li made four birdies in a flawless round. The world number 111 finished third in the 2017 Open at Birkdale after shooting a closing 63. "I think I had 18 highlights today. I tried to avoid a bogey and did it, which is great," Li said. "It's very tough, brutal." Top stories Swipe. Select. Stay informed. Singapore Driverless bus in Sentosa gets green light to run without safety officer in first for S'pore World US strikes destroyed only one of three Iranian nuclear sites, says new report Business 5 things to know about Kuok Hui Kwong, tycoon Robert Kuok's daughter and Shangri-La Asia head honcho Asia Air India probe into Boeing 787 fuel control switches finds no issues Singapore Man charged over manufacturing DIY Kpods at Yishun home; first such case in Singapore Singapore Sex first, then you can sell my flat: Women property agents fend off indecent proposals and harassment Singapore Two women jailed for submitting fake university certificates to MOM for employment passes Singapore Fatal abuse of Myanmar maid in Bishan: Traffic Police officer sentenced to 10 years' jail Fitzpatrick, the 2022 U.S. Open champion, eagled the second hole and notched up three birdies. "I just felt like I did everything well," he said. "Drove it well, approach play was good, and chipped and putted well. It was just an all around good day." SCHEFFLER IN CONTENTION American Scheffler birdied the 16th and 17th holes thanks to superb iron shots to stay in contention for his first British Open title. "Felt like I hit the ball nice off the tee, and really only had one swing I wasn't too happy with on maybe the second hole, so definitely a good bit of confidence for the next couple rounds," Scheffler said. Northern Ireland's McIlroy, seeking his second Claret Jug, bogeyed the first hole after an errant drive but that was three shots better than he managed in the 2019 Open at Portrush. It was not what his legion of fans had hoped for, however, after the world number two became the sixth player to complete the Grand Slam by winning this year's Masters. He regained his composure to birdie the second, fifth, seventh and 10th to get to three under before posting three bogeys in his next four holes. A 10-foot birdie putt on the 17th green took McIlroy back under par and he parred the last to remain in contention to win his sixth major title. "It was good," McIlroy said. "I had it going three-under through 10 and let a few slip there around the middle of the round. I steadied the ship well, played the last four at one under, and it was nice to shoot under par." England's Tyrrell Hatton and Matthew Jordan, and Thailand's Sadom Kaewkanjana joined Scheffler on three under. Former world number one Lee Westwood, Dane Nicolai Hojgaard, Americans Rickie Fowler and Brian Harman, and England's Justin Rose were among a group of players on two under. Veteran American Phil Mickelson, the 2013 Open champion, rolled back the years with a 70, including a spectacular par-save when he holed out from a greenside bunker. "That bunker shot that buried in the lip, and then to make it, it was obviously a lot of luck. It was crazy. I was just trying to save bogey, and I got lucky," the 55-year-old said. REUTERS
