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The Great Recession

In: STRICTLY BUSINESS THE KWEK LENG BENG STORY

Author

Listed:
  • SHING HUEI PEH

Abstract

It felt like the circle of life that Kwek Leng Beng would have to return to Beach Road at some point. Nearly seven decades after his father had started Hong Leong as a general trading company with a shopfront by the southern shores of Singapore, Kwek would gaze down at a majestic empty plot of land from a neighbouring building on the same road. “You have to tender for it,” said real estate consultant and friend Edmund Tie, who was hosting Kwek in his office in Shaw Tower. Kwek knew he was right. While the location had long lost the relevance of its name because of Singapore’s rapid land reclamation, it was still a superb piece of real estate. To its north, on the other side of Beach Road, was the iconic Raffles Hotel. On the other flank, across Nicoll Highway, sat Suntec City, one of the country’s biggest shopping malls and convention centres. Property analysts went so far as to describe it as “the last iconic site in Singapore”…

Suggested Citation

  • Shing Huei Peh, 2023. "The Great Recession," World Scientific Book Chapters, in: STRICTLY BUSINESS THE KWEK LENG BENG STORY, chapter 17, pages 174-183, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789811284496_0017
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    More about this item

    Keywords

    Kwek Leng Beng; Hong Leong Group; Hong Leong; Singapore; Millennium Hotel; Millenium Hotel; 9/11; The Plaza; authorised biography; CDL; City Development Ltd; Donald Trump;
    All these keywords.

    JEL classification:

    • L2 - Industrial Organization - - Firm Objectives, Organization, and Behavior
    • L21 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Business Objectives of the Firm
    • M1 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • M16 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - International Business Administration
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services
    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

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