PPB Group, part of the business empire of Malaysia’s richest businessman Robert Kuok, has appointed his grandson Kuok Meng Xiong as a non-executive director on its board.
The appointment became effective last Monday, according to a stock exchange filing by the company.
PPB Group is a diversified company with a market value of about RM15 billion (around $3.8 billion), according to a report by Daily Tribune.
Kuok Meng Xiong is a member of the third generation of the Kuok family. He earned a bachelor’s degree in hotel administration from Cornell University in the United States, according to The Business Times.
He currently works as the managing director of Kuok Brothers, the private investment company of his grandfather Robert Kuok. This company also holds a controlling stake in PPB Group.
Meng Xiong began his career at Shangri-La Hotels, where he spent about 10 years helping the group expand in Europe, West Asia, and Sri Lanka.
He later founded the Singapore-based venture capital firm K3 Ventures. The firm has invested in more than 50 startups, including ByteDance (the parent company of TikTok) and Grab, a ride-hailing and food delivery platform.
PPB Group works in several different business areas. These include grains and agribusiness, consumer products, property development, film exhibition and distribution, waste management, and information technology.
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