Singapore-Malaysia Billionaire Kwek Family $1.5 Billion Singapore-Listed Hong Leong Asia NYSE-Listed Subsidiary $1.2 Billion China Yuchai International Announced IPO of Indirect Subsidiary, Kwek Family & Kwek Leng Peck Own 76.61% of Hong Leong Asia Which Owns 44.7% of China Yuchai International, 1st Kwek Generation Founder Kwek Hong Png & 3 Brothers Founded Hong Leong Group with Leadership Now with 2nd Generation Kwek Leng Beng (Succeeded by Son Sherman Kwek) in Singapore & 2nd Generation Quek Leng Chan in Malaysia, Kwek & Quek Family Have Combined Fortune of More than $20 Billion
28th August | Hong Kong
Singapore-Malaysia billionaire Kwek family Singapore-listed Hong Leong Asia ($1.5 billion market value) NYSE-listed subsidiary China Yuchai International ($1.2 billion market value) has announced IPO plan of an indirect subsidiary. The Kwek family & Kwek Leng Peck own 76.61% of Hong Leong Asia, which owns 44.7% of China Yuchai International. Hong Leong Asia – Hong Leong Asia Ltd. (HLA) is part of Hong Leong Group, a Singapore-based conglomerate, and has been listed on the Stock Exchange since 1998. We are a diversified Asian multinational with core businesses in the construction and transportation sectors. We work closely with customers to develop and deliver innovative and sustainable solutions for cities of the future. Hong Leong Asia Ltd. is an investment holding company. The principal activities of the Company and its subsidiaries are those relating to the manufacturing and distribution of diesel engines and related products, building materials, rigid packaging products, and investment holding and dealing. Its segments are Powertrain solutions, Building materials, and Rigid packaging. The Powertrain solutions segment is engaged in engines for on-road, off-road, genset, and marine applications. The Building materials segment consists of cement, precast concrete products, ready-mix concrete, and quarry products. The Rigid packaging segment includes plastic packaging related products and container components. It manufactures, assembles, and sells a variety of light, medium and heavy-duty engines for trucks, buses, passenger vehicles, and agricultural applications. It offers various grades of ready-mix concrete and precast concrete elements for construction. China Yuchai International – China Yuchai International Limited (“CYI” or “China Yuchai”) is a Bermuda investment holding company established on April 29, 1993, and is listed on the New York Stock Exchange (NYSE: CYD). Headquartered in Singapore, CYI, through six wholly-owned subsidiaries, owns a controlling 76.4% equity interest in its principal operating subsidiary, Guangxi Yuchai Machinery Company Limited (“GYMCL” or “Yuchai”), a leading powertrain solutions manufacturer in the People’s Republic of China (the “PRC”). Parent – Hong Leong Asia Ltd. (“HLA”), the controlling shareholder of CYI, is a diversified Asian multinational with core businesses in building materials and powertrain solutions. Incorporated in Singapore since 1963 and listed on the mainboard of Singapore Exchange Securities Trading Limited (“SGX-ST”) in 1998, HLA’s portfolio has an operating network spanning Singapore, Malaysia and the PRC. Through industry-leading businesses – GYMCL, Island Concrete (Private) Limited, R3 Precast of HL Building Materials Pte. Ltd. and Tasek Corporation Berhad, HLA seeks to develop and deliver innovative and sustainable solutions for cities of the future. Kwek Family (Hong Leong Group) The 1st Kwek generation founder Kwek Hong Png & 3 brothers founded Hong Leong Group, with leadership now with 2nd generation Kwek Leng Beng (Succeeded by son Sherman Kwek) in Singapore & 2nd generation Quek Leng Chan in Malaysia. The Kwek & Quek family have combined fortune of more than $20 billion.
“ Singapore-Malaysia Billionaire Kwek Family $1.5 Billion Singapore-Listed Hong Leong Asia NYSE-Listed Subsidiary $1.2 Billion China Yuchai International Announced IPO of Indirect Subsidiary, Kwek Family & Kwek Leng Peck Own 76.61% of Hong Leong Asia Which Owns 44.7% of China Yuchai International, 1st Kwek Generation Founder Kwek Hong Png & 3 Brothers Founded Hong Leong Group with Leadership Now with 2nd Generation Kwek Leng Beng (Succeeded by Son Sherman Kwek) in Singapore & 2nd Generation Quek Leng Chan in Malaysia, Kwek & Quek Family Have Combined Fortune of More than $20 Billion “
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Singapore-Malaysia Billionaire Kwek Family $1.5 Billion Singapore-Listed Hong Leong Asia NYSE-Listed Subsidiary $1.2 Billion China Yuchai International Announced IPO of Indirect Subsidiary, Kwek Family & Kwek Leng Peck Own 76.61% of Hong Leong Asia Which Owns 44.7% of China Yuchai International, 1st Kwek Generation Founder Kwek Hong Png & 3 Brothers Founded Hong Leong Group with Leadership Now with 2nd Generation Kwek Leng Beng (Succeeded by Son Sherman Kwek) in Singapore & 2nd Generation Quek Leng Chan in Malaysia, Kwek & Quek Family Have Combined Fortune of More than $20 Billion
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