Malaysia's richest man Robert Kuok's grandson officially takes over as PPB Group managing director
Kuok Meng Xiong, a grandson of Malaysia's top billionaire Robert Kuok, has formally assumed the role of group managing director at the tycoon's conglomerate PPB Group.
Meng Xiong, grandson of Malaysia's wealthiest man Robert Kuok, has taken over as the managing director of PPB Group, succeeding Lim Soon Huat, who has retired after nearly two decades with the company. Lim, now 75, will continue to serve as an adviser to the board. Meng Xiong, 45, spoke of his commitment to building on the strong foundations laid by the company over many decades, working closely with employees and creating sustainable long-term value for stakeholders.
He was appointed to the position in early June, around the same time his cousin Jeremy Goon became the company's non-independent non-executive director, subsequently taking on the role of executive director. Meng Xiong, part of the third generation of the Kuok family, holds a degree in hotel administration from Cornell University, where he began his career at Shangri-La Hotels, his grandfather's luxury hospitality chain.
There, he managed hotel operations, project development and expansions. Meng Xiong also founded Singapore-based venture capital firm K3 Ventures, which has invested in numerous startups, including TikTok's parent ByteDance and ride-hailing platform Grab. Additionally, he manages Kuok Brothers, his grandfather's privately held investment vehicle.
Robert Kuok, now 102, has been Malaysia's wealthiest man for decades, according to Forbes, with a fortune valued at $13.1 billion as of September 3, 2023. Robert Kuok built his wealth initially through commodities trading, earning the nickname "Sugar King of Asia," before diversifying into various industries. Shangri-La, founded by Robert Kuok, operates more than 100 hotels and resorts globally, while PPB, part of his empire, is involved in grains and agribusiness, consumer products, property, film exhibition and distribution, waste management, and information technology.
For the first half of 2026, PPB reported a 13% year-on-year decline in net profit to RM572 million (US$141.6 million) as revenues fell by 4% to RM2.6 billion.
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