Kuok Hui Kwong, daughter of Malaysian tycoon Robert Kuok, has been named chief executive of Shangri-La Asia, effective August 1, 2025.

She has been the company’s executive director since June 2016 and chairman since January 2017.

Shangri-La Asia announced the appointment in a stock exchange filing on July 16.

The company stated that merging the chairman and CEO roles under Ms Kuok is expected to improve “strategic cohesion and operational execution by ensuring a unified and consistent vision across all levels of leadership”.

Boardroom Continuity Follows Former CEO’s Retirement

Shangri-La Asia is dual listed in Hong Kong and Singapore. Its former CEO, Lim Beng Chee, retired at the end of 2022 but remains on the board as a non-executive director. He was previously CEO of CapitaMalls Asia.

The Shangri-La group operates more than 100 hotels and owns 81 of them under four brands:

Shangri-La, Kerry, Hotel Jen, and Traders. The group's hotel properties had a net asset value of US$10.83 billion in 2024.

The company was founded in 1971 by Mr Kuok with the opening of Shangri-La Hotel in Singapore.

Salary, Shareholding, and Leadership Background

Ms Kuok, 47, will receive a monthly base salary of HK$576,000, along with a discretionary bonus and pension benefits.

She holds a total direct and indirect interest in 95.57 million shares of Shangri-La Asia, representing around 2.7 per cent of the company.

Ms Kuok earned a bachelor’s degree in East Asian studies from Harvard University.

She previously served as managing director and CEO of SCMP Group, publisher of the South China Morning Post. The Kuok Group sold the media company to Alibaba in 2016.

She ranked 40th on Fortune’s 2024 list of the most powerful women in Asia.

Revenue Growth Amid Profit Decline

For the financial year ended December 2024, Shangri-La Asia posted revenue of US$2.19 billion, marking a 2 per cent increase year on year.

Net profit fell by 12.3 per cent to US$161.4 million, affected by higher operating and financing costs.

Following news of the CEO appointment, the company’s Singapore-listed shares rose 2.2 per cent to close at HK$4.66 on July 16. The stock is still down 16.3 per cent for the year.

PHOTO: MALAYMAIL/FACEBOOK

This article was created with AI assistance.