“The wonderful support and strong sense of camaraderie among everyone in the Group has made settling into my new role very smooth,” said Hong Kheng.
In his previous capacity Hong Kheng had been responsible to oversee investments by the CIMB Group since 2007 in Tune Money and Tune Ins Holdings Berhad.
“For me, the timing is right as the Group enters and undergoes this terrific growth phase with many exciting opportunities ahead. The businesses in the Group may be varied but we have a coherent and cohesive lifestyle brand. There is a unique culture here and that is what I find very fascinating. I feel very welcome and very much at home,” said the former banker.
Tune Group is a lifestyle business conglomerate founded by Tan Sri Tony Fernandes and Datuk Kamarudin Meranun. The Tune Group companies are Tune Air (a substantial shareholder of low cost carrier AirAsia Group), Tune Hotels, Tune Money, Tune Insurance, Tune Talk, Think BIG Digital, Tune Box, Tune Studios, Queens Park Rangers Football Club (QPR) and the Epsom College in Malaysia.
He added: “We are now housing all Tune Group companies under one roof at Wisma Tune (formerly known as Menara PNB Damansara) at Jalan Dungun in Damansara Heights and this is a tremendous opportunity for all the businesses to build on our strengths together, capitalising on each other’s experiences, networks, niches and advantages.”
“Tune Hotels is continuing with its rapid expansion in Malaysia and abroad, chalking up seven million guests now and growing; while Tune Insurance is gaining a foothold as the preferred lifestyle and travel insurance brand. More Malaysians than ever are using Tune Talk Mobile Prepaid and AirAsia BIG Loyalty Programme is gaining good momentum. Epsom College in Malaysia is coming along nicely for its launch in September and it will have some of the most excellent schooling facilities around with all its academic staff being specially selected UK teachers,” he said.
“We see so much potential in everyone and to harness everyone’s talents and energies to bring about synergies, including with the AirAsia Group and QPR, would be fantastic. This can only benefit our other Group members,” he added.
In his new role, Hong Kheng oversees the reporting and performance structures of the various businesses within Tune Group and monitors the strategic direction and execution of those businesses. This is on top of overseeing corporate finance and strategy for Tune Group and enhancing the capital structures for the Group.
Hong Kheng started assuming the role as CEO of Tune Group in May 2014. The position was newly created. He was also redesignated as the Executive Director of the Group’s listed insurance holding company, Tune Ins Holdings Berhad on 1 July 2014.
Hong Kheng was previously with the CIMB Group where he had spent 18 years in various capacities, including his last as the Group General Counsel. He was responsible in setting up and leading CIMB Group’s Special Situation Investments department in 2006 and was appointed Executive Director of PT CIMB Niaga Securities Indonesia in 2003. With CIMB Group, Hong Kheng had had broad cross-departmental experiences including in the areas of principal investing, investment banking, corporate finance and capital markets.
Hong Kheng holds a Bachelor of Economics (Accounting major) and a Bachelor of Laws (LLB) from Monash University, Australia. He was called to the Malaysian Bar and was a practising lawyer prior to joining the corporate world.
Hong Kheng is also a member of CPA Australia. He earned his Master of Business Administration from the University of Chicago Booth School of Business on a corporate scholarship.