Malaysia’s richest billionaire Robert Kuok: from Asia’s Sugar King to Shangri-La Hotels founder

Though Kuok, now 101, has mostly retired from his businesses since the 1990s, he has maintained his position at the top of Forbes’ Malaysia rich list for over 20 years.

Today, his firm, the Kuok Group, operates as a global conglomerate spanning six continents, with businesses in commodities, real estate, logistics, hospitality, maritime services, and food.

But perhaps most impressive is the tycoon’s rise from modest beginnings.

Kuok was born in 1923 in Johor, Malaysia’s southernmost state, as the youngest of three brothers. His father, originally from China’s Fujian province, worked as a trader dealing in agricultural commodities, according to Bloomberg.

After their father passed away in 1948, shortly after World War II, Kuok and his brothers inherited the family’s rice distribution business.

He established the Kuok Group a year later and began trading goods like rice, sugar, and wheat flour.

He later founded Malayan Sugar Manufacturing in 1959 and the firm became Malaysia’s biggest sugar refiner, accounting for 60% of the domestic sugar supply.

His enterprise grew rapidly, with Kuok eventually commanding approximately 10% of the global sugar market, earning him the nickname “Sugar King of Asia,” according to The Business Times.

The end of British colonial rule created opportunities that enabled the Kuok family to emerge as leaders in various industries, including edible palm oil production and agribusiness.

Kuok established Kuok Singapore in 1953 and later founded Kerry Holdings in Hong Kong, which manages the Kuok Group’s operations in Hong Kong and China.

He also played a role in Malaysia’s shipping industry in the 1960s by building its first shipping firm, MISC, which he left in 1987.

He later founded logistics company Pacific Carriers in Singapore and served as chairman of Malaysia-Singapore Airlines before it split into flag carriers Malaysia Airline System and Singapore Airlines in 1972.

As the Kuok Group extended its presence both in Malaysia and abroad, it made investments in iconic developments, including the China World Trade Center in Beijing’s Chaoyang business district, which opened in 1990.

Another of Kuok’s most successful endeavors was the Shangri-La Hotels and Resorts chain, which was established in Singapore in 1971 and now boasts over 100 hotels and resorts across 78 destinations worldwide.

“I do not like hotels that make a practice of overcharging. I think that Shangri-La has got it right: It has a name, a standard, and we are looking to the long term,” he said of the luxury hospitality chain in his memoir. “(…) We are not there to cut the throats of our customers. I want them to go away happy and satisfied.”

Despite his wealth and accomplishments, Kuok has stayed true to his values and remains committed to the public good.

“Success is not about how much money you make, but about how much you can give back to society,” Tatler Asia magazine quoted him as saying.

His philanthropic efforts are reflected in the work of the Kuok Foundation, which focuses on education, combating poverty and community development.

“He is one of the most curious, engaging people I have ever encountered, and, apart from business, his interests range from history, cultures and language to food, wine and the animal kingdom,” Andrew Tanzer, who co-wrote Kuok’s memoir with the billionaire himself, told Forbes. “He has lived a long, fascinating life through very interesting times in Asia; he is blessed with a phenomenal memory.”

Kuok shared that his memoir was dedicated to the two people who most influenced his life: his mother, whom he regarded as the ‘true founder’ of the Kuok empire, and his brother William, whom he remembered as “a great human being who died too young.”

The father of eight began stepping back from his businesses as he approached the age of 70 in 1993 and entrusted his descendants and relatives with carrying on his legacy.

His decades of achievements attracted a wave of tributes on his 100th birthday last year, including heartfelt messages from business magnate Li Ka-shing, one of Hong Kong’s wealthiest individuals.

The Lee family of the leading Hong Kong property developer Henderson Land Group also extended their warm wishes to Kuok.

“Your visionary leadership and remarkable contributions to the industry have left an incredible mark,” Lee Shau-kee, the company’s 95-year-old founder, and his two sons said in a message sent to the South China Morning Post.

In the conclusion of his memoir, Kuok reflected on his philanthropic efforts and shared his thoughts on the purpose of wealth, as reported by Financial Times.

He also encourages today’s youth to “distinguish between the real and the fanciful … (and) learn to live simply.”

On the last page of the book, he wrote: “Learn to be humble. Genuine humility must be inner humility, guided by compassion towards your fellow beings.”