Hong Leong Group Executive Chairman Mr Kwek Leng Beng has made it to the 17th edition of Forbes Asia’s annual list ‘Heroes of Philanthropy’ in 2023. He is the only Singaporean on this year’s list that spotlights 15 philanthropists from the Asia Pacific region who have in the past year shown commitment and donated generously to causes close to their hearts.

Mr Kwek announced an endowed gift of S$24 million, jointly made by him and CDL, to the Singapore Institute of Technology (SIT) at the launch of his biography last month in November.

With an enhanced matching grant from the Singapore Government, the total endowment contribution amounts to S$60 million that will help fund the construction of the university’s administrative building, named the ‘Kwek Leng Beng University Tower’ at its future campus in the Punggol township in northeastern Singapore.

Earlier this year, Mr Kwek donated S$720,000 to SIT to start six new academic initiatives, including bursaries and scholarships for SIT Hospitality Business undergraduates.

“Through this SIT donation, I am privileged to play a part in building future generations of talents and professionals for Singapore, especially in hospitality,” said Mr Kwek in a statement revealing the gift. Mr Kwek is also the Executive Chairman of CDL.

Kwek’s passion for hotels started five decades ago when he built the company’s first hotel, the King’s Hotel, which has been renamed Copthorne King’s Hotel, near Singapore River on Havelock Road. City Developments has since grown to become one of Asia’s largest hospitality operators with a global network of over 155 hotels, and owns iconic office buildings such as the Republic Plaza skyscraper in Singapore’s central business district. It’s the city-state’s top developer by revenue.