LYCOS RETRIEVER 
Khoo Teck Puat: Goodwood Park Hotel
built 627 days ago
Khoo Teck Puat died last month. He was 87 and largely immobile. Many afternoons he could be seen having lunch in the lounge of Singapore's Goodwood Park Hotel. Why this hotel? Because he owned it. Like he owned the nearby high-rise York Hotel.
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In 1960, Khoo restarted his career in banking by founding Malayan Banking (now commonly known as Maybank) with a few partners in Kuala Lumpur. The bank grew rapidly to more than 150 branches within 3 years. In 1963, the bank purchased Goodwood Park Hotel, Singapore for $4.8 million. In 1965, Khoo was ousted from Maybank by the Malaysian Government under Tun Razak administration on the pretext of pumping the bank's money into his own private firm in Singapore. The political enmity between Singapore and Malaysia has taken its toll.
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Mr Khoo was an old boy of SJI in the 1930s. He was one of Singapore’s richest men and played major roles in the development of Maybank and the Goodwood Park Hotel Group. Mr Khoo died at the age of 86 in February 2004.
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Khoo was a Malaysian senator in 1964-65, but when Singapore separated from Malaysia to become independent in 1965, he fell from favour with the Malaysian government and was pushed out of Malayan Banking. He then took over some of its Singaporean assets, including the Goodwood Park Hotel - one of Singapore's most historic buildings.
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[T]he hotels Khoo is best known for are the Goodwood Park Hotel and the nearby York Hotel. Officially designated a Singapore landmark in 1989, the Goodwood – through the Khoo family's nearly 30 years of ownership – has preserved and honed its reputation for quiet elegance.
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