Latest news with #Shangri-LaAsiaLtd
New Straits Times
17-07-2025
- 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
16-07-2025
- 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.
