Hong Leong Bank / Quek Leng Chan

Re: Quek Leng Chan

Postby winston » Sun Mar 06, 2016 7:07 pm

Malaysian billionaire is kingmaker in battle for a leading Hong Kong bank

Source: Asia One

http://news.asiaone.com/news/business/m ... zbAj2.dpuf
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Re: Quek Leng Chan

Postby winston » Fri Apr 22, 2016 8:47 am

Quek eyes stake in IWH

BY INTAN FARHANA ZAINUL

Source: The Star

http://www.thestar.com.my/business/busi ... ke-in-iwh/
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Re: Quek Leng Chan

Postby winston » Mon May 16, 2016 7:19 am

Quek-Liew as strategic partners

BY INTAN FARHANA ZAINUL

Source: The Star

http://www.thestar.com.my/business/busi ... stor-to-t/
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Re: Quek Leng Chan

Postby winston » Sat Jul 23, 2016 9:44 am

not vested

Another go at BEA for Quek?

BY GURMEET KAUR

BEA also owns 23.5% of Affin Holdings Bhd, making it the second-largest shareholder after Lembaga Tabung Angkatan Tentera.


Source: The Star

http://www.thestar.com.my/business/busi ... -for-quek/
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Re: Quek Leng Chan

Postby winston » Tue Jul 26, 2016 6:49 am

M'sian billionaire Quek eyes UK's largest bookmaker William Hill

According to Bloomberg, the deal could be worth £3bil (US$3.9bil), with Morgan Stanley, PricewaterhouseCoopers and lawyers

PETALING JAYA: Tan Sri Quek Leng Chan, who has his hands in an array of economic activities from property to manufacturing and finance, is eyeing a joint bid for Britain’s largest bookmaker William Hill Plc.

Rank Group Plc, a company that is majority-controlled by Quek, and 888 Holdings Plc are considering a joint offer to take over William Hill, a competitor.

According to Bloomberg, which broke the story early yesterday, the two companies see “significant industrial logic in the combination”, which will deliver “substantial revenue and cost synergies”, according to an e-mailed statement.

Source: The Star

http://www.thestar.com.my/business/busi ... liam-hill/
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Re: Quek Leng Chan

Postby winston » Sat Oct 01, 2016 8:34 am

What’s brewing at Hong Leong?

BY GURMEET KAUR

Source: The Star

http://www.thestar.com.my/business/busi ... ong-leong/
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Re: Quek Leng Chan

Postby winston » Sat Oct 01, 2016 10:06 am

The origins of Hong Leong

Leng Chan’s business strategy stands the test of time

THE original Hong Leong Company has its roots in Singapore, set up in 1941 by Kwek Hong Png, who is Tan Sri Quek Leng Chan’s uncle.

Hong Png’s son Kwek Leng Beng is the executive chairman of Hong Leong group Singapore, which is also a multi-billion-dollar business empire with interests in property development, financial services and hospitality.

According to past reports, patriarch Hong Png came to Singapore in the 1920s from the Fujian province in China.

He initially worked in a hardware shop as a store hand.

Later, he decided to set up his own company and invited his three younger brothers, Kwek Hong Khai, Kwek Hong Lye and Kwek Hong Leong, to join the business. Leng Chan is the son of Hong Lye.

The company was named Hong Leong, which signified “good harvest”.

It started off as a general trading firm in ropes, paints, ships and rubber estate supplies with business conducted in a small shophouse at Singapore’s Beach Road.

Upon the separation of Singapore from Malaysia in 1965, Leng Chan as a young barrister-at-law from the Middle Temple Inn in the United Kingdom was sent to head the family business in Malaysia.

He supposedly came with an initial capital of about RM700,000, according to an executive familiar with the family.

Then, the business was only a small hardware shop along Kuala Lumpur’s Birch Street (now Jalan Maharajalela).

Not content with just running the family’s small hardware business, Leng Chan began to build the Malaysian arm almost independently from its Singapore operations.

Over the years as business flourished, Leng Chan injected more funds into the Malaysian operations as compared to the parent company in Singapore.

As a result, his stake in the ultimate privately held Hong Leong Co (M) has risen to the current 51%.

The remaining stake in Hong Leong Co (M) is held by the Hong Leong family of Singapore.

Today, both groups are firmly entrenched in their respective countries with family members of the second and third generations involved in the operations.

But unlike Leng Chan, cousin Leng Beng seems more open with the media.

Source: The Star

http://www.thestar.com.my/business/busi ... ong-leong/
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Re: Hong Leong Bank

Postby winston » Sat Feb 04, 2017 10:24 pm

TAN SRI QUEK LENG CHAN
Flagship: Hong Leong Group
Net worth: RM13.5bil
QUEK, 74, had a rather busy year.

Last April, the banking tycoon that owns the Hong Leong group of companies, disposed of his block of shares in Singapore-listed Ezion Holdings Ltd.

This marked the culmination of his exit from the oil and gas (O&G) industry, having earlier sold his holdings in Scomi Energy Bhd and TH Heavy Engineering Bhd.

Quek may have done well in the O&G scene but his fortunes are largely intact, having only lost one notch from 2015 to move to the seventh position last year.

The tycoon’s net worth is estimated at RM13.54bil.

One of Quek’s more notable moves last year was his decision to take a slice of the much-touted Eco World International Bhd (EWI), the international property vehicle of property Tan Sri Liew Kee Sin.

EWI counts GuocoLand Ltd as a 27% shareholder.

GoucoLand is part of the Hong Leong Group, which ultimately holds most of Quek’s empire of different businesses that sprawls through much of North and South-East Asia, and other parts of the world.

Liew has said that GuocoLand was the perfect partner for the soon-to-be listed EWI, in terms of its financial strength, history, legacy, and reputation.

It is the coming together of two brands, Eco World and GuocoLand.

Last year, the tycoon relinquished his position as chairman and stepped down from the board of one of his key companies, Guoco Group Ltd.

The move surprised the market considering that Quek is still active and has been helming the Hong Kong-listed Guoco since 1990.

What could be brewing is a restructuring of Quek’s sprawling empire housed under Guoco.

Recall that a few years ago he had failed to take Guoco private.

Locally, Guoco’s most valuable asset is Hong Leong Bank Bhd (HLB), which it owns through Malaysian banking arm Hong Leong Financial Group Bhd (HLFG).

Market observers say that the two companies would need to undergo a restructuring at some point to meet Basel III requirements. HLFG also generates less trading interest compared with its banking arm.

Quek controls 74.4% stake in Guoco, which holds a 25.4% stake in HLFG. HLFG, in turn, has a direct 64.4% stake in HLB and 81.3% in Hong Leong Capital Bhd.

The other valuable asset under HLFG is the insurance business and this is up for sale.

Quek also controls Rank Group plc, a London-listed gaming outfit and has a strategic 14% in Bank of East Asia of Hong Kong.

Source: The Star
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Re: Hong Leong Bank / Quek Leng Chan

Postby winston » Fri Nov 29, 2019 7:51 pm

vested

Hong Leong Bank (HLBK MK)
1QFY20: Lower Provision And Solid Cost Management


HLBK’s 1QFY20 results are above expectations, driven by steady loans growth, provision write-backs and solid operating cost management.

NIM was also stronger than expected.

Upgrade to BUY with a higher target price of RM18.68 (1.45x 2020F P/B, 9.8% ROE) post earnings adjustment.

The group has managed to display resilient growth in a challenging environment while its recent GIL ratio has also been among the most resilient among its peers.

Source: UOBKH

https://research.uobkayhian.com/content ... ceaa51f8c7
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Re: Hong Leong Bank / Quek Leng Chan

Postby winston » Thu Feb 27, 2020 9:12 am

vested

The master of loan growth

Hong Leong Bank’s (HLB) 1HFY6/20 net profit was within expectations at 50% of our full-year forecast and 49% of Bloomberg consensus estimates.

HLB registered a spectacular loan growth of 7.3% yoy at end-Dec 19, above the industry’s 3.9% and probably one of the strongest among its peers.

Despite the strong loan growth, we retain our Hold call on HLB due to the expected upturn in loan loss provisioning.

Source: CMIB

https://rfs.cgs-cimb.com/api/download?f ... 3E88864913
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