Lim Kang Hoo

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Lim Kang Hoo
Native name
林刚河
Born1955
OccupationChairman, Ekovest Berhad & Iskandar Waterfront Holdings
Net worthIncreaseUS$1.1 billion [1]

Tan Sri Dato' Lim Kang Hoo (Chinese: 林刚河, born 1956) is a Malaysian businessman and investor.[2] He is the founder, chairman and chief executive of Iskandar Waterfront Holdings and Ekovest Berhad.[3] Both corporations manage infrastructure construction projects, as well as mega property development.[4] Tan Sri Lim is also linked to other public listed companies in directorial roles; PLS plantations, holding 40,000 acres in palm oil plantations and Knusford Berhad and Tebrau Teguh Berhad.[5][6]

In 2014, Forbes estimates his stake in Ekovest – a construction firm for mid-sized infrastructure projects in the Klang Valley, and the construction vehicle for its Iskandar region developments – at US$1.1 billion, ranking him on the Malaysian Forbes Richest List.[7] Later, in 2015, Forbes further estimated an additional stake in Iskandar Waterfront Holdings to be worth US$925 million.[8]

In January 2016, Tan Sri Lim succeeded on a bid on the Bandar Malaysia project worth $1.7 billion (RM 7.41 billion) [9][10] The Joint Venture partners are dedicated to developing an underground city project spanning over 15 years with a gross development value of US$53 billion.

Tan Sri Lim is referred as 'helicopter-man' by the locals as he frequently commutes between his office in Kuala Lumpur and his project birthchild, Iskandar Malaysia privately via his rotorcrafts.[11] Tan Sri Lim's Ekovest Berhad is also the 2016 sponsor for the Kuala Lumpur National Football Association.

Business[edit]

Ekovest Berhad[edit]

A company that Lim co-founded, Ekovest, is known for its involvement of the construction of the Petronas Twin Towers, Kuala Lumpur International Airport, and main buildings within Putrajaya, the country's federal administrative centre. Other projects include highway construction projects e.g. DUKE highway, and its successive phases.

Iskandar Waterfront Holdings[edit]

Iskandar Waterfront Holdings has a gross development value of RM 125 billion ($44 billion) in projects on the 4,000+ acres of land in the Iskandar region.[12] Past collaborative investors in the Iskandar region include billionaires Robert Kwok, Peter Lim, Jeffery Cheah, as well as few of the largest real estate development companies from China (Country Garden Holdings, Greenland) and Australia.[13]

On the west side of Iskandar, Tan Sri Lim has plans to convert Johor Bahru into a waterfront destination with cruise terminals, marina, residences, offices, hotels and convention centers.[14] Here he has sold land to one of the top developers in China, Country Garden. Most of the current projects are being developed in a joint venture with his company, Iskandar WaterFront Holdings, in which he holds 60%, and has been scheduled for its initial public offering (IPO).[15]

According to The Star, through this IPO, Iskandar Waterfront Holdings was "hoping to lock in some global names in the property and investment world as cornerstone investors" with procedural preparations nearing completion.[16] It has been reported that the timing of the IPO has been delayed due to currently unfavourable market conditions - fears of a weakening market.[17]

According to an article published in Deal Street Asia, Iskandar Waterfront is looking to revisit its IPO plans in 2016, with a potential dual listing in Kuala Lumpur as well as in Hong Kong.[18]

Bandar Malaysia[edit]

Tan Sri Lim's recent[19] award on his bid for Bandar Malaysia - a joint venture with China Railway Engineering Corporation (M) Sdn Bhd is dedicated to developing an underground city project spanning over 15 years,[20] with a gross development value of RM 150 billion ($53 billion)[21]

On 23 March 2016, Tan Sri Lim announced the expected launch of Phase 1 of Bandar Malaysia (GDV US$37.2 billion) for 2017. CREC simultaneously announced their commitment to consolidate operations at a US$2 billion regional centre within the first phase of Bandar Malaysia.[22] The Joint Venture partners are expected to place a joint bid for the US$9.91 billion High Speed Rail project - connecting Thailand, Kuala Lumpur and Singapore.[23]

Awards and recognition[edit]

In 2012, Tan Sri Lim was recognized by Brand Laureate as the Property Man of the year.[24]

In 2014, Tan Sri Lim was dubbed a member of the "ASEAN Business Club" among other notable entrepreneurs such as Tan Sri Tony Feranandes, Tan Sri Robert Kuok, Tan Sri Francis Yeoh, Tan Sri Lim Wee-Chai and Tan Sri Leong Hoy Kum. The ASEAN Business Club members sre ambassadors advocating growth of regional networks and the forum serves to 'share-knowledge' among global and regional leaders.[25]

In 2015 at the 22nd Fiabci Property Awards, Tan Sri Lim was dubbed the property man of the year award.[26]

Also in 2015, Tan Sri Lim was recently conferred a Lifetime Achievement Award in China recognising individuals distinguishing themselves in government, business and civic. Previous recipients of the ward include Prime Minister Datuk Seri Najib Tun Razak, YTL Corp chairman Tan Sri Yeoh Tiong Lay, Berjaya Group Founder Tan Sri Vincent Tan, Genting Malaysia chairman Tan Sri Lim Kok Thay and former CEO of SP Setia Group Tan Sri Liew Kee Sin.[27]

Honour of Malaysia[edit]

References[edit]

  1. ^ "Lim Kang Hoo". Forbes. Retrieved 13 March 2016.
  2. ^ "Asean Business Club". Retrieved 2014. Check date values in: |access-date= (help)
  3. ^ "Bloomberg; Lim Kang Hoo". Retrieved 8 February 2016.
  4. ^ Tan, Jessica (26 February 2014). "Malaysia's 50 richest - The road to Iskandar". Forbes Asia. Retrieved 6 February 2016.
  5. ^ "Knusford to ride on interest in Lim Kang Hoo". The Edge Property. 8 February 2012. Retrieved 6 February 2016.
  6. ^ Wong, Wei-Sheng (2 January 2016). "Lim's company may draw interest". The Star Malaysia. Retrieved 2 February 2016.
  7. ^ Jetley, Neerja (28 May 2014). "Malaysia's Newest Billionaire mints money from reclaiming land and selling dreams". Forbes Asia. Retrieved 20 January 2016.
  8. ^ Jetley, Neerja (28 May 2014). "Malaysia's Newest Billionaire mints money from reclaiming land and selling dreams". Forbes Asia. Retrieved 3 February 2016.
  9. ^ Ramasamy, Manirajan (31 December 2015). "1MDB to sell Malaysian property project stake for $1.7 billion". Bloomberg Business. Retrieved 8 February 2016.
  10. ^ "Real estate project stake sale likely to boost property sector". Nikkei Asian Review. Retrieved 5 January 2016.
  11. ^ "Future Plans of Master Developer". The Star. 8 December 2012. Retrieved 8 February 2016.
  12. ^ "Lim Kang Hoo". Forbes Asia. Retrieved 10 January 2016.
  13. ^ Jetley, Neerja (28 May 2014). "Malaysia's Newest Billionaire mints money from reclaiming land and selling dreams". Forbes Asia. Retrieved 3 February 2016.
  14. ^ Ahmad, Reme (15 May 2015). "$928 million plan to turn Johor Baru river into tourist destination". The Strait Times. Retrieved 8 February 2016.
  15. ^ "IWH paves way in Johor Bahru for waterfront city of the future". South China Morning Post. Retrieved 2 January 2016.
  16. ^ Wong, Wei-Shen (15 February 2013). "Iskandar Waterfront IPO hopes to lock in some global property, investment names". The Star. Retrieved 22 January 2016.
  17. ^ "Iskandar Waterfront IPO postponed indefinitely". The Edge Property. Retrieved 13 January 2016.
  18. ^ Lee, Liz (5 February 2016). "Malaysia: IWH revisiting IPO plans, possible dual listing in MY, HK". Deal Street Asia. Retrieved 21 February 2016.
  19. ^ Kok, Cecilia (8 December 2015). "Kang Hoo puts deposit". The Star Online. Retrieved 8 February 2016.
  20. ^ "1MDB to close Bandar Malaysia deal by year end". The Malaysian Insider. Retrieved 29 December 2015.
  21. ^ Shukry, Anisah (31 December 2015). "1MDB to sell 60% of Bandar Malaysia to Iskandar, China group for RM 7.4 billion". The Malaysian Insider. Retrieved 20 January 2016.
  22. ^ Zarinah, Zakariah (23 March 2016). "RM 8 billion Regional Centre". New Strait Times. Retrieved 24 March 2016.
  23. ^ Ali, Sharidan (23 March 2016). "Joint Bid for HSR". The Star. Retrieved 24 March 2016.
  24. ^ "Top 2013 Man of the Year". Brand Laureate. 6 October 2013. Retrieved 2 January 2016.
  25. ^ "2014 ASEAN Business Club". Asean Business Club. 6 March 2014. Retrieved 15 January 2016.
  26. ^ "Fiabci 2015 Property Man". The Edge. 6 November 2015. Retrieved 5 January 2016.
  27. ^ "Lim receives lifetime achievement award". The Star Online. 8 December 2014. Retrieved 5 January 2016.
  28. ^ "Semakan Penerima Darjah Kebesaran, Bintang dan Pingat".