Peter Kwee Could Be Sued Up To $333,500 By Exklusiv Resorts Members

Auto mogul Peter Kwee is involved in a lawsuit that could cost him up to $ 333,500 in damages. He will speak from November 24 to 26 and from November 30 to December 4 during an eight-day hearing.

At the end of 2018, members of the members-only resort, Exklusiv Resorts, filed a lawsuit against its owner, Peter Kwee, to which the tycoon denied responsibility.

Made up of more than 70 members, the prosecution said the club had promised to build new facilities for them when it closed for renovation in 2014.

However, Exklusiv Resorts sold the plot of land to property developer Oxley that same year, owned by Singaporean multimillionaire Ching Chiat Kwong.

New real estate assets, the Novotel Singapore and the Mercure Singapore, were opened on the plot at the end of 2017.

Members ask Kwee to procure one of the hotels Oxley built and convert it into the premises of the club they planned to build in 2013.

In response, Kwee claimed he offered members a replacement: a clubhouse located at the Laguna National Golf and Country Club, as well as discounts at Dusit Thani Laguna Singapore Resort.

However, the prosecution claimed that no official offer had been made by Kwee.

A quiet auto tycoon

With an estimated worth of S $ 250 million, Peter Kwee runs an empire with a turnover of S $ 300 million and more than 600 employees, according to this blog.

Incorporated in 2000, the Exklusiv Group is an unlisted company owned by individual shareholders specializing in the automotive industry.

The eldest of 11 siblings, the low-key auto mogul was born in Bandung, Indonesia, in 1947, and founded a trading company when he was just 18.

In 1978 Peter Kwee and his family moved to Singapore to escape the violence of the anti-China protests and riots in Indonesia.

The tycoon began investing in the property, which represented around 200,000 square feet of land worth at least S $ 150 million.

Kwee then took over the distribution of Volkswagen and Renault under its flagship brand, Cars and Cars, a subsidiary of the Exklusiv group.

Once the partnerships ended, Kwee reoriented its business towards cars made in China, distributing Skoda, Geely, Dung Fung and Soyat.

The Exklusiv group has also grown in the lifestyle and golf business.

Currently, the group owns properties such as the Meadow Springs Golf and Country Club in Perth, the Laguna National Golf and Country Club and The Pines.

Featured Image Credit: GuanYu9 Blogspot

Our sincere thanks to
Source link

Jothi Venkat

Leave a Reply

Your email address will not be published. Required fields are marked *