Kuok Hui Kwong, daughter of Malaysia’s richest man, to lead hotel group Shangri-La Asia
Kuok has been Shangri-La Asia’s executive director since June 2016 and chairman since January 2017
Kuok Hui Kwong, daughter of Malaysia’s richest man, Robert Kuok Hock-nien, has been named CEO of luxury hotel group Shangri-La Asia, effective August 1.
Kuok, 47, has been serving as Shangri-La Asia’s executive director since June 2016 and chairman since January 2017, according to a Wednesday filing with Hong Kong’s stock exchange. Shangri-La Asia is listed in Hong Kong and Singapore.
The Harvard-educated Malaysian, the sixth of Robert Kuok’s eight children, took the helm of the luxury hotel chain after former CEO Lim Beng Chee stepped down at the end of 2022. Lim remained on the board as a non-executive director, according to the filing.
Under her current contract, Kuok is entitled to a monthly base salary of HK$576,000 (US$73,376), plus a discretionary bonus and pension.
Founded as a single hotel in Singapore in 1971, Shangri-La Asia reported 2024 revenue of US$2.19 billion, up 2 per cent from a year earlier, while its net profit fell 12.3 per cent to US$161.4 million, according to its annual report.