Entrepreneur

Motoring Tycoon Peter Kwee Could Be Sued Up To S$333,500 By Members Of His Exklusiv Resorts

Motoring tycoon Peter Kwee is embroiled in a lawsuit that could cost him up to S$333,500 in damages. He will be taking the stand from 24 to 26 November, and 30 November to 4 December in an eight-day hearing.

In late 2018, members of members-only resort, Exklusiv Resorts, filed a lawsuit against its owner, Peter Kwee, to which the tycoon denied liability.

Comprising over 70 members, the prosecution claimed that the club had promised to build new facilities for them when it closed for renovation in 2014.

However, Exklusiv Resorts sold the land parcel to property developer Oxley the same year, owned by Singapore multimillionaire Ching Chiat Kwong.

New property assets, Novotel Singapore and The Mercure Singapore, were opened on the plot in late 2017.

The members are demanding that Kwee procure one of the hotels built by Oxley, and convert it into the club premises they had expected to be built in 2013.

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

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

A Low-Profile Motoring Tycoon

Worth an estimated 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, Group Exklusiv is a non-listed company owned by individual shareholders specialising in the automotive industry.

The eldest of 11 siblings, the low-profile motoring tycoon was born in Bandung, Indonesia in 1947, and built a trading business when he was just 18.

In 1978, Peter Kwee and his family moved to Singapore to escape the violence of Anti-Chinese demonstrations and riots in Indonesia.

The tycoon began investing in property, which amounted to an estimated 200,000 square foot of land that’s worth at least S$150 million.

Kwee then went on to take over the distributorship of Volkswagen and Renault under his flagship brand, Cars and Cars, a subsidiary of Group Exklusiv.

After the partnerships ended, Kwee reoriented his business to China-made cars, distributing Skoda, Geely, Dung Fung and Soyat.

Group Exklusiv has also expanded into lifestyle and golf businesses.

Currently, the Group owns properties like the Meadow Springs Golf and Country Club in Perth, the Laguna National Golf and Country Club, and The Pines.

Featured Image Credit: GuanYu9 Blogspot

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