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Peter Lim

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Peter Lim
Born1953 or 1954 (age 70–71)[1]
Other names林榮福
CitizenshipSingapore
Occupation(s)Businessman, Investor[2]
Known forOwner of Rowsley Limited[3]
Owner of Valencia CF
Owner of Salford City
Spouse(s)Venus Teo Geok Fong (Divorced) 2 Children,
Cherie Lim (Married)

Peter Lim Eng Hock (Chinese: 林榮福; pinyin: Lín Róngfú; Pe̍h-ōe-jī: Lîm Êng-hok; born 1953) is a Singaporean businessman and investor. In March 2016, Forbes magazine rated him eighth amongst Singapore's 50 richest people with an estimated net worth of $2.2 billion.[5] In April 2015, he was tied for #949 amongst the world's billionaires, with an estimated net worth of $2.2 billion.[1]

Early life

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.[6][7]

Career

Lim became a stockbroker for mainly Indonesian clients. His successful returns earned him the nickname "Remisier King" (Singaporean term for stockbroker). In 1992, his first son, Alim, was born. Nowadays, Alim is Peter's lawyer and counselor, due to his legal knowledge. He also runs the legal department of Valencia CF.

In 1996, he became a full-time investor, investing $10 million for a 5% stake 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.[8]

Investments

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.[9][10] He is known to be a supporter of Singapore football.[11]

Football

Lim unsuccessfully bid to take ownership of Liverpool in 2010, to expand the brand in Asia.[12][13] He has also been associated with bids to take over Rangers in Scotland, Middlesbrough in England, Valencia in Spain, and Milan in Italy. In May 2014, Lim took over ownership of Valencia after buying 70.4% of the shares owned by the club's foundation.[14][15][16]

On 22 September 2014, Lim agreed to buy a 50% stake in Salford City from former Manchester United players Gary Neville, Ryan Giggs, Paul Scholes, Nicky Butt and Phil Neville.[17][18]

Motorsports

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.[19]

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.[20]

Personal life

Lim owns 80% of the 11-storey Abelia condominium at Ardmore Park, Singapore, while the other 20% is owned by a friend. He resides there with his wife Cherie and his mother.[21]

References

  1. ^ a b "The World's Billionaires (2010): #655 Peter Lim". Forbes. 3 March 2010. Retrieved 19 February 2011.
  2. ^ http://www.forbes.com/sites/neerjajetley/2013/09/02/how-singapore-billionaire-peter-lim-makes-money-from-thin-air/#7b33963b2524
  3. ^ http://www.forbes.com/sites/neerjajetley/2013/09/02/how-singapore-billionaire-peter-lim-makes-money-from-thin-air/#7b33963b2524
  4. ^ http://www.forbes.com/profile/peter-lim/
  5. ^ "Singapore's 40 Richest (2010): #8 Peter Lim". Forbes. 28 July 2010. Retrieved 11 October 2010.
  6. ^ "Billionaire Peter Lim joins Asian owners of football clubs". The Straits Times. 18 May 2014. Retrieved 24 November 2014.
  7. ^ Lee Su Shyan (29 July 2010). "$420,000 for ST pocket money fund". Straits Times. Archived from the original on 29 July 2010. Retrieved 6 June 2014.
  8. ^ "Peter Lim, No.7". Forbes magazine. 2007. Retrieved 11 October 2010.
  9. ^ Wang Meng Meng (30 June 2010). "$10m boost for athletes". The Strait Times. Retrieved 14 October 2010.
  10. ^ "Premier League - Who is Peter Lim?". Yahoo!Sport. 12 October 2010. Retrieved 14 October 2010.
  11. ^ Patwant Singh (12 October 2010). "Peter Lim still in with a chance of owning the Reds: local experts". Channel NewsAsia. Retrieved 14 October 2010.
  12. ^ Robert Peston Business (11 October 2010). "Liverpool to receive new bid from Singapore billionaire". BBC News. Retrieved 11 October 2010. {{cite web}}: |author= has generic name (help)
  13. ^ Mustafa Shafawi (12 October 2010). "Peter Lim makes cash bid for Liverpool". Channel NewsAsia. Retrieved 14 October 2010.
  14. ^ "Peter Lim pays $720m for Valencia". The Straits Times. 17 May 2014. Archived from the original on 17 May 2014. Retrieved 6 July 2015. {{cite news}}: Unknown parameter |dead-url= ignored (|url-status= suggested) (help)
  15. ^ "Singapore businessman Peter Lim buys Valencia". Today. 17 May 2014.
  16. ^ http://uk.reuters.com/article/2014/05/17/uk-soccer-spain-valencia-idUKKBN0DX0AJ20140517
  17. ^ Jackson, Jamie (22 September 2014). "Peter Lim to buy 50% stake in Salford City from Class of '92". The Guardian. Retrieved 22 September 2014.
  18. ^ "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.
  19. ^ Jeremy Grant (9 July 2013). "McLaren ramps up Asian dealer network". Financial Times. Retrieved 10 July 2013.
  20. ^ Christopher Tan (4 December 2012). "Peter Lim's $1.14b Iskandar motorsports hub up by 2016". The Straits Times.
  21. ^ Lee, Su Shyan. "Home for family of three is entire 11-storey condo". Asiaone News. Singapore Press Holdings Ltd. Retrieved 8 June 2015.
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