Dynasty: Who’s who in the Kwek family tree behind CDL, Hong Leong
AS THE boardroom tussle at CDL hots up, pitting executive chairman Kwek Leng Beng against his son and CEO Sherman Kwek and other board members, The Business Times takes a look at how family ties and business interests are inextricably linked.
At the first generation level, there is Kwek Hong Png who established the Hong Leong group of companies in 1941. He had a sister and three brothers.
Kwek Hong Png’s son Kwek Leng Beng is very much the head of the family business in Singapore. The various businesses include property developer City Developments, CDL Hospitality Trusts, Hong Leong Asia and Hong Leong Finance.
At the second generation level, apart from Kwek Leng Beng, a key player is his cousin Quek Leng Chan, who is one of the richest men in Malaysia with a controlling stake in HL Bank. In Singapore, he is the exective chairman of SGX-listed property developer GuocoLand. Another cousin Kwek Leng Peck is the executive chairman of Hong Leong Asia.
The third generation includes Kwek Leng Beng’s son Sherman and his brother Kingston. Another third generation family member is Vincent Yeo, CEO of CDL Hospitality Trusts’ managers.
Hong Leong Investment Holdings, Hong Leong Holdings, Hong Realty are among the key investment vehicles the family is using to hold their business interests.
