The Sail Worth Waiting For

Shing Huei Peh

Chapter 15 in Strictly Business:The Kwek Leng Beng Story, 2023, pp 155-161 from World Scientific Publishing Co. Pte. Ltd.

Abstract: The new millennium had not been kind to Kwek Leng Beng. The dot.com crash in 2000 was exacerbated by the September 11 attacks the next year, dealing two severe blows to the global economy, particularly in the United States. His hotel empire was reeling. To make it worse, the real estate market in Asia remained in absolute doldrums, struggling to exit a long winter which began with the Asian Financial Crisis in 1997. When City Developments (CDL) announced its results for financial year ending 2001, it was an ugly sight. Its net profit had plunged 85.5 per cent to S$41.6 million…

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 (search for similar items in EconPapers)
JEL-codes: L2 L21 L26 L85 M1 M13 M16 R3 (search for similar items in EconPapers)
Date: 2023
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