Perspectives from ISB

The Hong Leong group is a Malaysian conglomerate, which was founded as a trading company in 1963 by Tan Sri Quek Leng Chan. This second-generation company controls 14 listed companies involved in the financial services, manufacturing, distribution, property, and infrastructure development. Tan Sri Quek Leng Chan is one of the richest men in Malaysia today, with an estimated net worth of $5.6 billion, according to Forbes.

His youngest son, Quek Kon Sean, recently led the family business into e-commerce. In a recent development, Kon Sean, 36, resigned from his directorship positions in Hong Leong Financial Group and Hong Leong Capital to assume ‘a new position within the Hong Leong group’. As per reports, he is set to take on a bigger role in the Hong Leong group’s property ventures.

This is significant since the group is said to be making a big foray into real estate and Kon Sean could be the one heading the venture. There have been recent speculations that they would be investing in Eco World International Bhd (EWI) and the Bandar Malaysia projects. Bandar Malaysia is a huge development spanning 486 acres, where the plan is to have an integrated underground city modelled after the Montreal underground city in Canada. Meanwhile, the group’s Singapore-listed subsidiary has also won a tender for a prime residential site in the River Valley area.