I could never be a great leader because I’m not selfless enough: Ho Kwon Ping

Banyan Tree Holdings founder Ho Kwon Ping speaking at the launch of a new book about him at SMU on May 21.

“Your employees will always say you have it because they’re your employees. And for ministers, citizens will always respect them because of their office,” he added. “We’re all very polite people in Asia. We’re not going to rail against our leaders. But we really respect them?” He famously turned down a $1.6 billion offer from an American private equity firm in 2006 to buy him out. He felt that it was more important to create something lasting and leave a positive impact on the community.

The book recounts how Mr Ho steered Banyan Tree through many ups and downs, including during the pandemic when it had to operate with zero occupancy at many of its properties. “One of the reasons Lee Kuan Yew was so admired and respected, although he was hardly a very likeable person, was that he was selfless,” he said, referring to Singapore’s founding prime minister.

When asked at the fireside chat what advice he would give to future generations like his great-grandchildren, he warned about the danger of complacency, hubris and entitlement, given Singapore’s current success.

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