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Robert Kuok
Robert Kuok Hock Nien, better known as Robert Kuok, (born 6 October 1923) is a Malaysian business magnate, investor and philanthropist based in Hong Kong since 1973. According to Forbes, his net worth is estimated at $11.8 billion as of April 2023, making him the wealthiest Malaysian citizen and 96th wealthiest person in the world. As of April 2023, according to the Bloomberg Billionaires Index 2023, Kuok has an estimated net worth of $17.7 billion, making him the 97th richest person in the world.
Although Kuok is a major figure in business circles in East and Southeast Asia, he has remained media shy and maintains a low public profile despite his massive business success and immense wealth, with most of his companies being privately held by him or his family members. Apart from presiding the ownership over a multitude of businesses spread across numerous industries in the Malaysian economic landscape, his companies have investments in many countries throughout Continental Asia.
His business interests (collectively known as the Kuok Group of Companies) range from sugarcane plantations (Perlis Plantations Bhd), sugar refineries, flour milling, animal feed, oil, mining, financial services, hotel (Shangri-La Hotels and Resorts), real estate (Kerry Properties), trading, freight shipping (Kerry Logistics) and publishing. The biggest source of wealth that has contributed to his private fortune is a stake in the Singaporean company Wilmar International, the world's largest listed palm oil trader company. For three months in 2018, Kuok was appointed to the Council of Eminent Persons as an advisor during Mahathir Mohamad's second stint as prime minister.
Kuok was born on 6 October 1923 in Johor Bahru during British colonial rule to a wealthy ethnic Fuzhou family. He was named after Robert the Bruce, and was enrolled at an English-medium primary school by his father's English-speaking clerk. Kuok's father Kuok Keng Kang arrived in British Malaya from Fuzhou (Hokchew), Fujian Province, China, at the beginning of the 20th century, and Robert was the youngest of three brothers born to Kuok Keng Kang and Robert's mother Zheng Ge Ru. He grew up speaking his parents' Fuzhou language, English and later Japanese during the Japanese occupation of Malaya in World War II. He also studied at English College Johore Bahru for his secondary education and later at Raffles Institution in Singapore where he was classmates with Lee Kuan Yew, the founding father of Singapore and the country's first prime minister.
According to Kuok himself, he began his business career as an office boy, and later started a business from scratch with financial backing coming from his relatives. Upon graduation, he became a collaborator and worked as a clerk in the rice-trading department of Japanese industrial conglomerate Mitsubishi Shoji Kaisha during the Japanese occupation period between 1942 and 1945, in Singapore, a conglomerate that with the help of Japanese military unit monopolized the rice trade in Malaya during the occupation period. He was soon promoted to head the rice-trading department. After the war, he took the skills he learned from the occupying force to the family's business in Johor.
After the senior Kuok died in 1948, Kuok and his two brothers and a cousin, Kuok Hock Chin founded Kuok Brothers Sdn Bhd in 1949, trading agricultural commodities. Kuok's relationship with the Japanese continued after Malaya gained independence. In 1959, Kuok formed Malayan Sugar Manufacturing Co. Bhd. together with two prominent Japanese partners. He also brought many influential Malay elites into his company as directors and shareholders, including politicians and royalty.[citation needed] In 1961, he bought cheap sugar from India before the prices shot up, and continued to invest heavily in sugar refineries, at one time controlling 80% of the Malaysian sugar market with production of 1.5 million tonnes, equivalent to 10% of world production, earning himself the nickname "Sugar King of Asia" in the process.
In 1971, he built the first Shangri-La Hotel in Singapore; with land acquired through Petaling Garden Berhad, a Malaysian based developer. His first foray into Hong Kong property was in 1977, when he acquired a plot of land on the newly reclaimed Tsim Sha Tsui East waterfront, where he built his second hotel, the Kowloon Shangri-La. In 1993, his Kerry Group acquired a 34.9% stake in the South China Morning Post from Murdoch's News Corporation. Kuok officially retired from the Kerry Group on 1 April 1993.
His companies have investments in many countries, including Singapore, the Philippines, Thailand, Mainland China, Indonesia, Fiji, and Australia. Businesses in China include 10 bottling companies for Coca-Cola and the ownership of the Beijing World Trade Centre. His company's freight shipping interests include Malaysian Bulk Carriers Berhad and Transmile Group.
Robert Kuok
Robert Kuok Hock Nien, better known as Robert Kuok, (born 6 October 1923) is a Malaysian business magnate, investor and philanthropist based in Hong Kong since 1973. According to Forbes, his net worth is estimated at $11.8 billion as of April 2023, making him the wealthiest Malaysian citizen and 96th wealthiest person in the world. As of April 2023, according to the Bloomberg Billionaires Index 2023, Kuok has an estimated net worth of $17.7 billion, making him the 97th richest person in the world.
Although Kuok is a major figure in business circles in East and Southeast Asia, he has remained media shy and maintains a low public profile despite his massive business success and immense wealth, with most of his companies being privately held by him or his family members. Apart from presiding the ownership over a multitude of businesses spread across numerous industries in the Malaysian economic landscape, his companies have investments in many countries throughout Continental Asia.
His business interests (collectively known as the Kuok Group of Companies) range from sugarcane plantations (Perlis Plantations Bhd), sugar refineries, flour milling, animal feed, oil, mining, financial services, hotel (Shangri-La Hotels and Resorts), real estate (Kerry Properties), trading, freight shipping (Kerry Logistics) and publishing. The biggest source of wealth that has contributed to his private fortune is a stake in the Singaporean company Wilmar International, the world's largest listed palm oil trader company. For three months in 2018, Kuok was appointed to the Council of Eminent Persons as an advisor during Mahathir Mohamad's second stint as prime minister.
Kuok was born on 6 October 1923 in Johor Bahru during British colonial rule to a wealthy ethnic Fuzhou family. He was named after Robert the Bruce, and was enrolled at an English-medium primary school by his father's English-speaking clerk. Kuok's father Kuok Keng Kang arrived in British Malaya from Fuzhou (Hokchew), Fujian Province, China, at the beginning of the 20th century, and Robert was the youngest of three brothers born to Kuok Keng Kang and Robert's mother Zheng Ge Ru. He grew up speaking his parents' Fuzhou language, English and later Japanese during the Japanese occupation of Malaya in World War II. He also studied at English College Johore Bahru for his secondary education and later at Raffles Institution in Singapore where he was classmates with Lee Kuan Yew, the founding father of Singapore and the country's first prime minister.
According to Kuok himself, he began his business career as an office boy, and later started a business from scratch with financial backing coming from his relatives. Upon graduation, he became a collaborator and worked as a clerk in the rice-trading department of Japanese industrial conglomerate Mitsubishi Shoji Kaisha during the Japanese occupation period between 1942 and 1945, in Singapore, a conglomerate that with the help of Japanese military unit monopolized the rice trade in Malaya during the occupation period. He was soon promoted to head the rice-trading department. After the war, he took the skills he learned from the occupying force to the family's business in Johor.
After the senior Kuok died in 1948, Kuok and his two brothers and a cousin, Kuok Hock Chin founded Kuok Brothers Sdn Bhd in 1949, trading agricultural commodities. Kuok's relationship with the Japanese continued after Malaya gained independence. In 1959, Kuok formed Malayan Sugar Manufacturing Co. Bhd. together with two prominent Japanese partners. He also brought many influential Malay elites into his company as directors and shareholders, including politicians and royalty.[citation needed] In 1961, he bought cheap sugar from India before the prices shot up, and continued to invest heavily in sugar refineries, at one time controlling 80% of the Malaysian sugar market with production of 1.5 million tonnes, equivalent to 10% of world production, earning himself the nickname "Sugar King of Asia" in the process.
In 1971, he built the first Shangri-La Hotel in Singapore; with land acquired through Petaling Garden Berhad, a Malaysian based developer. His first foray into Hong Kong property was in 1977, when he acquired a plot of land on the newly reclaimed Tsim Sha Tsui East waterfront, where he built his second hotel, the Kowloon Shangri-La. In 1993, his Kerry Group acquired a 34.9% stake in the South China Morning Post from Murdoch's News Corporation. Kuok officially retired from the Kerry Group on 1 April 1993.
His companies have investments in many countries, including Singapore, the Philippines, Thailand, Mainland China, Indonesia, Fiji, and Australia. Businesses in China include 10 bottling companies for Coca-Cola and the ownership of the Beijing World Trade Centre. His company's freight shipping interests include Malaysian Bulk Carriers Berhad and Transmile Group.