Malaysia’s richest man Robert Kuok’s PPB Group names his grandson as board director

The appointment took effect last Monday, according to a stock exchange filing by PPB Group, a diversified firm with a market cap of RM15 billion (US$3.8 billion), Daily Tribune reported.

A member of the Kuok family’s third generation, Meng Xiong holds a bachelor’s degree in hotel administration from the U.S.’ Cornell University, according to The Business Times.

He currently serves as managing director of Kuok Brothers, the privately held investment vehicle of his grandfather that holds a controlling stake in PPB Group.

Meng Xiong started his career at Shangri-La Hotels, spending roughly ten years working on the group’s expansion across Europe, West Asia and Sri Lanka.

He also founded Singapore-based venture capital firm K3 Ventures. The firm has backed more than 50 startups, including ByteDance, the parent company of TikTok, and ride-hailing and food delivery platform Grab.

Kuok Meng Xiong, Photo from K3 Ventures' website

PPB operates across several sectors, including grains and agribusiness, consumer products, property, film exhibition and distribution, as well as waste management and information technology.

It is part of the Kuok Group, a multinational conglomerate owned by Robert, Malaysia’s richest man with a net worth of US$13.9 billion, according to Forbes.

Robert built much of his wealth through commodities trading, earning him the nickname "Sugar King of Asia." He also founded the Shangri-La luxury hotel chain, which now operates more than 100 hotels and resorts worldwide.

Beyond hospitality, his business interests span commodities, logistics, real estate, shipping and shipbuilding.