Published: 11:19 AM, 05 September 2026
Malaysia's richest man's grandson takes over as PPB Group MD
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 took over from Lim Soon Huat, who has retired from the board after nearly two decades with the group, PPB said in a statement on Tuesday. Lim remains an adviser to the board.
"PPB Group has strong foundations built over many decades," Meng Xiong, 45, said in the statement. "My commitment is to build on these strengths, work closely with our people and continue creating sustainable long-term value for our stakeholders."
He was named to the position in early June, around the same time his cousin Jeremy Goon became PPB's non-independent non-executive director. Goon has since assumed the role of executive director and will work closely with Meng Xiong, PPB said in the Tuesday statement.
Part of the Kuok family's third generation, Meng Xiong earned a bachelor's degree in hotel administration from Cornell University in the U.S. before starting his career at Shangri-La Hotels, the luxury hospitality chain founded by his grandfather, where he oversaw hotel operations, project development and expansions, according to The Business Times.
He also founded Singapore-based venture capital firm K3 Ventures, which has invested in dozens of startups including TikTok's parent ByteDance and ride-hailing and food delivery platform Grab.
Additionally, he is the managing director of Kuok Brothers, his grandfather's privately held investment vehicle.
Robert Kuok, 102, has been Malaysia's richest man for decades, according to Forbes, which put his fortune at US$13.1 billion as of Sept. 3.
He built his fortune initially through commodities trading, earning the nickname "Sugar King of Asia," before branching out into various industries.
Shangri-La, which he founded, has more than 100 hotels and resorts globally while PPB, also part of his empire, operates across a diverse range of businesses, spanning grains and agribusiness, consumer products, property, film exhibition and distribution, waste management and information technology.
PPB posted a 13% year-on-year drop in net profit to RM572 million (US$141.6 million) for the first half of 2026 as revenues fell 4% to RM2.6 billion.
