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Kwek BengSingaporean businessman
Country:
 Singapore |
Biography of Kwek Beng
Early Life and Family BusinessKwek Beng, also known as Leng Beng, is a Singaporean businessman and the Executive Chairman of the Hong Leong Group Singapore. Born to Kwek Hong Png in the Fujian province, China, Kwek's father moved to Singapore and established the Hong Leong Group. Despite studying law in London, Kwek decided to join the family business in the early 1960s.
Leadership and Success
Kwek became the Chairman of the Hong Leong Group in 1990 and played a pivotal role in transforming the company into a successful conglomerate with an international reputation. Today, the Hong Leong Group comprises over 300 companies, making it one of the leading conglomerates in Singapore.
Real Estate and Hospitality Business
Kwek also serves as the Chairman of the international real estate and hospitality conglomerate, City Developments Limited (CDL). CDL operates in 20 countries across Asia, Europe, Australasia, and North America. The CDL Group includes more than 250 subsidiary and associated companies, with eight of them listed on stock exchanges in Manila, New Zealand, Amsterdam, Singapore, London, and Hong Kong. CDL is the second-largest developer in Southeast Asia, with a market capitalization of $5.8 billion USD.
Millennium & Copthorne Hotels
Kwek leads the hotel group, Millennium & Copthorne (M&C) Hotels, of which 53% is owned by CDL. M&C is ranked 40th among the best hotel groups worldwide. The group manages 120 of its own hotels, with a total portfolio of approximately 36,500 hotel rooms in 19 countries. In an interview, Kwek mentioned that Millennium Resort Patong in Phuket, Thailand, was the first resort managed by M&C.
Other Business Ventures
In addition to his leadership roles in the Hong Leong Group and CDL, Kwek's conglomerate also owns the largest financial company in Singapore, Hong Leong Finance, which operates through a network of 28 branches. Kwek is a member of the Board of Trustees of the Singapore Management University and an honorary doctorate holder from Oxford Brookes University. While Kwek oversees the operations of the Hong Leong Group in Singapore, his cousin, billionaire Quek Leng Chan, manages the conglomerate's activities in Malaysia.
