Wolf Review(Behind The Banyan. Ho Kwon Ping on building a global brand by Aaron Low plus Author’s insights)
I have the privilege of meeting Aaron Low, the author of the book, Behind The Banyan by Ho Kwon Ping on building a global brand.
I met Aaron at the SIAS’s Boardroom Knockout book launch, a couple of months back which he is also the author of the book. We managed to keep in touch, and today I managed to invite him to talk about his journey of creating this book. The setting was at Toast Box, City Square Mall. Below is a snapshot of our conversation.
Wolf: Congratulations on the success of this book. What prompted you to write the book?
Aaron: This project was conceived during the height of the Covid pandemic. I remember it was March 2020 when Singapore just implemented an islandwide lockdown to stop the spread of the virus. Back in those days, there wasn’t much to do during lockdown. Being an ex-journalist, my passion for writing and the love for books prompted me to create this title.
Wolf: Why was Ho Kwan Peng the chosen subject of your book?
Aaron: Kwan Peng(KP) was chosen through my contact at World Scientific. The Idea of writing a business series which featured our successful local business leaders was decided due to a lack of such genre in the market. Having been a business journalist, it was a genre that sparked his interest which sowed the seeds for this book.
Wolf: What was the process like creating the book with Kwon Ping?
Aaron: Kwon Ping was very open to the idea of doing a biography since he was a journalist previously. Furthermore, it happened during Covid, there wasn’t much to do for both of us due to the total lockdown. I suggested the Gonzo style of writing, which makes me part of the story, with my first-person narrative incorporated into the book. Many hours of Zoom calls and face-to-face interviews were made. His co-conspirator, Kwon Ping, was very forthcoming in sharing his life story. I had an amazing time learning his philosophy in business and in life. One of the privileges as the author, I was able to travel to many of Kwon Ping’s beautiful resorts to explore and experience the world-class hospitality of Banyan Tree.
Behind The Banyan by Ho Kwon Ping on building a global brand.
Who is Ho Kwon Ping(KP)? A rebel, a philosopher, a leftist, a student leader or a hotelier? The reader is going to get everything. His years in the US ushered in the rebellious side of him. The US invasion of Vietnam shaped his thoughts on politics. KP was an active participant in anti-war protests during his time at Stanford University. Due to his sense of righteousness, he had a few close encounters with the law in the US, including a bogus charge of burglary which resulted in him spending a few days in jail. The charge was eventually dismissed by the judge, but that incident still left a permanent record of time spent in jail. Till today, he can’t fly into the US without a special permit.
Once seen as a disruptive force by the Singapore government. He was rounded up during Operation Cold Storage under the charge of the internal security act for his anti-government remarks in the Far Eastern Review where he was a journalist. Recalling that episode, he was lucky to be let off after a few months in solitary confinement.
That episode took him from being a critic of the government to a bubbling entrepreneur. His first major flirt with business was to build the first oil rig for a Chinese state-owned enterprise, but that deal failed miserably due to a glut in the oil market in the 80s. With KP saddled with millions of debts, he decided to search for a remote place to build an escape villa where he could get away from the harsh reality of the business world. He chanced upon a big and beautiful piece of beachfront land available for purchase at a song in Phuket. The original owner knew the piece of land was heavily polluted. It took KP many years to nurse the piece of land back to health. He had better luck with his next venture of building hotels in Phuket. Once started as a side project to build a personal retreat, KP turned Banyan Tree into a multi million hospitality brand with over 80 hotels under management. Readers can discover the marketing ethos behind the brand’s enduring appeal.
In 2020, the Covid pandemic struck. Banyan Tree break neck speed of growth over the past two decades came to a squeaking halt. The Covid outbreak in South East Asia and the ensuing lockdown caused an unprecedented challenge to Banyan Tree. The company was facing an existential crisis. The situation was made worse due to a $100m medium term notes due in 2020. The company had taken the loan during better days. KP was not willing to sacrifice Banyan Group’s good credit rating to tie over the difficult period. With the need for survival, costs were slashed. The company sought a moratorium on interest payments. A $50m convertible rights issue was raised to keep the company afloat. Readers can find out KP’s mastery in crisis management during Covid and why family members are not always the best people to task with running the business.
The book goes on to Lone Wolf Investor’s highly recommended list for its valuable lessons on brand building and crisis management. It is a great book for bubbling entrepreneurs wanting to build their own brand. Behind The Banyan, Ho Kwon Ping, on building a global brand, is now available at all major book stores.
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