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After a period of semi-retirement, Robert Kuok has returned to active duty
AT 80, most successful businessmen would have called it a day. But not
Robert Kuok Hock Nien, Malaysia's richest man with an estimated wealth of
RM14.29 billion. He still calls the shots at his sprawling and diversified
Kuok Group.
It is learnt that Kuok emerged from semi-retirement in 2003 following
the death of his most trusted lieutenant and nephew-in-law, Richard Liu
Tai Fung.
The second generation Kuoks - Kuok's sons Beau Kuok Khoon Chen and Kuok
Khoon Ean (also known as Ean Kuok), as well as nephews Chye Kuok Khoon Ho
and Edward Kuok Khoon Loong, and niece Kay Kuok Oon Kwong - are all key
members of the Group.
But while they wield great power within the Group, the patriarch is the
supreme commander.
Tracking and uncovering the enigmatic Kuok and his vast multinational
empire is not easy. For one, Kuok, his family and his trusted lieutenants
are typically media-shy. For this article, Malaysian Business met with
little success in its attempts to secure meetings with family members and
aides.
However, Kuok did respond to our queries while Chye, head of the Group's
Malaysian operations and chairman of Kuok Brothers Sdn Bhd, granted us an
interview (see Q&A story on page 31). Family friends and former
professional managers also spoke, but on condition of anonymity.
The comeback kid?
Making a comeback at the age of 80 is not easy. Underlying this comeback
is talk that Kuok is getting apprehensive over succession plans at the
Group. `His main concern appears to be how to avoid a family squabble,'
reveals a family friend.
This is a typical scenario in many Chinese family businesses in
Southeast Asia. The family-controlled See Hoy Chan Group, Tan Chong Group
and even the Yeoh Hiap Seng Group have all experienced such dilemmas
following the demise of their founding fathers.
Some say Kuok's active return is to iron out details of succession plans
at the Group. But why now? What is happening within the Group that calls
for his pressing attention?
Sources tell Malaysian Business that until Liu's sudden death at the KL
International Airport in 2003, Kuok was grooming him as heir apparent. Liu
was said to be...