Invisible Billionaire Walking Alone (1 highlight)
“While he may build or own hotel icons around the world, from The Plaza in New York to The Biltmore Mayfair in London, from the Grand Hyatt in Taipei to the Hilton in Seoul, he slips through his daily life in Singapore largely undisturbed and unmolested in public. Hardly anyone ever approaches him for a photograph or an autograph. In his younger days, it was common to see the tycoon brisk-walking alone down Robinson Road or Cecil Street in the Singapore financial district as he skipped between meetings in buildings he owned. He has never had a bodyguard and flies commercial. “Singapore Airlines is safer than private jets,” he explained.”
Three Decades of Tutelage Before Command (1 highlight)
“When he took over from his father in 1990 after nearly three decades of tutelage, Hong Leong and its subsidiary companies were largely focused on Singapore with scattered business interests in a few Asian territories, such as Malaysia, the Philippines, Hong Kong, Taiwan and mainland China. Kwek turned it into a bona fide global enterprise with businesses in five continents, including at one point listing his proud hotel empire on the London Stock Exchange — the first Singapore company to do so.”
Close the Chapter, Never Look Back (1 highlight)
““But I’ll finish, go on to the next chapter. I don’t waste time, because if you’re worried, if you’re still crying, you can never go on to the next chapter quickly. That’s not my policy. My policy is: you can make more money if you move on properly.” It applies to his successes too. When asked how he managed to buy the Copthorne and Regal chains of hotels in Europe and United States in the 1990s, he finished telling the stories of these deals worth hundreds of millions of dollars in a few minutes. Job done, let’s move on. He seems to detest post-action analysis. Rear view mirrors are a waste of time in his world.”
Boss First, Family Second (1 highlight)
“His younger relatives who worked with him in Hong Leong and CDL said that they relate to him mostly as a boss and rarely as an uncle. “His work is all consuming, and therefore, it is very hard to distinguish between him as an uncle and as chairman,””
Quick Quick Quick — Zero Tolerance for Lag (1 highlight)
“Kwek often expects near instant results, delivery or products. His favourite phrase is “quick, quick, quick.””
Landmark Buildings as Corporate Identity (1 highlight)
“His office building Republic Plaza was once the joint tallest in Singapore, and his crown jewel condominium The Sail was at one point the world’s tallest residential property. Both remain downtown landmarks. Some of the best hotels in the country are his, including the St. Regis, JW Marriott, W in Sentosa, and the new Singapore EDITION Hotel.”
Twenty Minutes Early Then Start the Clock (1 highlight)
“For the six interviews we conducted with him for this book, he was at least 20 minutes early for every appointment. This applies to everything he attends, from board meetings to social lunches, whether in person or virtual. But the bad news for the others is that once he arrives, he expects the proceedings to begin.”
Perpetual Grumbling as Quality Control (1 highlight)
““This is not an easy man to be friendly with. But then some people say I’m not easy either. Understand one thing, he always grumbles. He wakes up, he grumbles: this isn’t good enough, that isn’t good enough, you don’t know how to run a hotel, you don’t make enough money for me, it’s Thursday. I tell him this and he laughs but it’s Leng Beng way of operating.””
Stealth Wealth as Protective Armor (1 highlight)
“even as his family business Hong Leong enjoys a household name status in Singapore and Malaysia, and his flagship CDL company is held up as a blue-chip bellweather stock on the Singapore stock exchange, Kwek is a man seldom heard in public and even less often seen. A favourite story among business circles was how he was shooed away by the security guard at his own Orchard Hotel in Singapore after turning up one day in a new car. His staff recognised his wheels, not his face.”
Other highlights (9)
“one of Kwek’s favourite mantras is “Work Hard, Talk Less, Do More.””
“Once, he gave De Silva instructions to draft a press release in his office on the 61st floor of Republic Plaza. By the time De Silva took the lift to his own office on the 36th floor in the same building, and sat down at his desk, the phone rang. It was Kwek on the other line, and he asked: “Are you done?” When De Silva replied that he had just reached his work station, Kwek grumbled: “You are always so slow!””
“When he spoke in public, it was almost always because of a company results’ briefing. On the rare occasions of a media interview, they were called for because of a major business project, such as the launch of his M Social chain of hotels. As former top Singapore civil servant Philip Yeo, who is a director in CDL, said: “Leng Beng is a very serious and quiet guy.”
“At its peak in 2013, nearly one in every five private homes sold in Singapore was built by his property firms, headlined mostly by CDL.”
“He tussled with Donald Trump in New York, was feted by Boris Johnson in London, and did business with Prince Alwaleed bin Talal in the Middle East.”
“As Safdie said, Kwek is a very powerful man. When Fortune magazine asked in 1995: “Just who the heck is Kwek?”, after the Singaporean had bought the Plaza from Trump, it was both in bemusement and awe.”
“Such a clinical attitude is fuelled partly by impatience. Almost everyone interviewed for this book had a personal story — often fairly humorous — of how he is in a perpetual state of restlessness. “If you travel with him, you must wear running shoes because he used to walk so fast,” said long-time CDL group general manager Chia Ngiang Hong. “When we got off the plane, he walked so fast. He also ate very fast, he didn’t want to waste time.”
“he gives as good as he takes. He makes quick decisions and does not dither. He also sets a good example of being fastidiously punctual.”
“During the COVID-19 pandemic, Kwek had to get used to virtual meetings. He was often a good 10–15 minutes early, and bristled when others logged on closer to the scheduled time, as is the norm, said his nephew Kwek Eik Sheng and group chief operating officer of CDL. “He scolded the guy who signed in last — even though he was five minutes early. The poor chap got it from him,” he shared with a rueful smile. Veteran hotelier Daniel Desbaillets said: “For me, he’s a natural. What you see is what you get.””
