Peter Lim

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Peter Lim
Born 1953/1954 (age 60–61)[1]
Residence Singapore
Other names 林榮福
Citizenship Singapore
Occupation Businessman, investor
Net worth Decrease US $ 2.2 billion (est.)
(2014)[2]
Spouse(s) Married, 2 children

Peter Lim Eng Hock (Chinese: 林榮福; pinyin: Lín Róngfú; Pe̍h-ōe-jī: Lîm Êng-hok; born 1953) is a Singapore businessman and investor. In July 2010, Forbes magazine rated eighth amongst Singapore's 40 richest people with an estimated net worth of $2.5 billion.[3] In March 2010, he was tied for #655 amongst the world's billionaires, with an estimated net worth of $1.5 billion.[1]

Biography[edit]

The son of a fishmonger, Peter Lim was educated at the Raffles Institution and obtained a degree in accountancy at the University of Western Australia. Singapore's Sunday Times described him as "publicity shy" and supporting education without seeking the spotlight, having worked as a cab driver, a cook and a waiter during his university days.[4][5]

Lim became a stockbroker for mainly Indonesian clients. His successful returns earned him the nickname "Remisier King" (Singaporean term for stockbroker).

In 1996, he became a full-time investor, investing $10 million in palm oil producer Wilmar International, now valued at $700 million. Lim is also the second-largest investor in fashion distributor FJ Benjamin. He then invested in logistics and the agri-business.[6]

In October 2010, he bought the entire share holdings of Thomson Medical Centre Limited from the founder, Dr. Cheng Wei Chen, and his family, at a price of S$1.75 per share.

Sports investments[edit]

Lim, an avid sports fan, has set up a S$10 million scholarship under the Singapore Olympic Foundation (SOF) to nurture local sports talents in 2010.[7][8] He is known to be a supporter of Singapore football.[9]

Football[edit]

Lim bid to take ownership of Liverpool F.C. in 2010, to expand the brand in Asia.[10][11] He has also been associated with bids to Rangers F.C. in Scotland, Middlesbrough F.C in England, Valencia CF in Spain and A.C. Milan in Italy. In May 2014, Lim took over ownership of Valencia CF after buying 70.4% of the shares owned by the club's foundation.[12][13][14]

On 22 September, Lim agreed to buy a 50% stake in Salford City F.C. from former Manchester United players Gary Neville, Ryan Giggs, Paul Scholes, Nicky Butt and Phil Neville.[15][16]

Motorsports[edit]

In 2011, Lim bought a significant stake in McLaren Automotive, which the company sought to develop and produce the McLaren MP4-12C sportscar. The carmaker has been rapidly building its dealer network in Asia since opening its first in the region in 2012, in Singapore.[17]

On 4 December 2012, Lim formalised his venture with Malaysian state-owned UEM Land to build an integrated motorsports hub in Johor's Iskandar region. The project, estimated to cost RM3.5 billion ($1.14 billion), is expected to be up and running by 2016. It will be operated and managed by Fastrack Autosports, majority-owned by him.[18]

References[edit]

  1. ^ a b "The World's Billionaires (2010): #655 Peter Lim". Forbes. 3 March 2010. Retrieved 2011-02-19. 
  2. ^ "Singapore's 50 Richest". Forbes. 23 July 2014. Retrieved 31 July 2014. 
  3. ^ "Singapore's 40 Richest (2010): #8 Peter Lim". Forbes. 28 July 2010. Retrieved 2010-10-11. 
  4. ^ "Billionaire Peter Lim joins Asian owners of football clubs". The Straits Times. 18 May 2014. Retrieved 24 November 2014. 
  5. ^ Lee Su Shyan (29 July 2010). "$420,000 for ST pocket money fund". Straits Times. Archived from the original on 29 July 2010. Retrieved 2014-06-06. 
  6. ^ "Peter Lim, No.7". Forbes magazine. 2007. Retrieved 2010-10-11. 
  7. ^ Wang Meng Meng (30 June 2010). "$10m boost for athletes". The Strait Times. Retrieved 2010-10-14. 
  8. ^ "Premier League - Who is Peter Lim?". Yahoo!Sport. 12 October 2010. Retrieved 2010-10-14. 
  9. ^ Patwant Singh (12 October 2010). "Peter Lim still in with a chance of owning the Reds: local experts". Channel NewsAsia. Retrieved 2010-10-14. 
  10. ^ Robert Peston Business (11 October 2010). "Liverpool to receive new bid from Singapore billionaire". BBC News. Retrieved 2010-10-11. 
  11. ^ Mustafa Shafawi (12 October 2010). "Peter Lim makes cash bid for Liverpool". Channel NewsAsia. Retrieved 2010-10-14. 
  12. ^ "Peter Lim pays $720m for Valencia". The Straits Times. 17 May 2014. 
  13. ^ "Singapore businessman Peter Lim buys Valencia". Today. 17 May 2014. 
  14. ^ http://uk.reuters.com/article/2014/05/17/uk-soccer-spain-valencia-idUKKBN0DX0AJ20140517
  15. ^ Jackson, Jamie (22 September 2014). "Peter Lim to buy 50% stake in Salford City from Class of ‘92". The Guardian. Retrieved 22 September 2014. 
  16. ^ "Singapore businessman Peter Lim joins forces with ex-Manchester United players and invests in Salford City FC". The Telegraph. 22 September 2014. Retrieved 22 September 2014. 
  17. ^ Jeremy Grant (9 July 2013). "McLaren ramps up Asian dealer network". Financial Times. Retrieved 10 July 2013. 
  18. ^ Christopher Tan (4 December 2012). "Peter Lim's $1.14b Iskandar motorsports hub up by 2016". The Straits Times. 

External links[edit]