Lim Peng Siang Explained

Lim Peng Siang
林秉祥
Honorific Suffix:JP
Birth Date:1872
Birth Place:Amoy, Qing empire
Death Place:Singapore
Nationality:Naturalized British subject
Occupation:Businessman
Known For:Founder of Ho Hong Group; President of Singapore Chinese Chamber of Commerce
Spouse:
  • Lee Bay Neo,
  • Wee Guat Choo Neo
Father:Lim Ho Puah

Lim Peng Siang (; also known as Lin Bengxian; 1872–1944)[1] was a businessperson in Singapore and Malaya. Together with his brother Lim Peng Mau[2] (Lin Bingmao), he founded the Ho Hong Group of companies in 1904,[1] which had interests in banking,[3] shipping, parboiled rice, oil mills, cement, coconut and other businesses.[4] He was a president of the Singapore Chinese Chamber of Commerce and a member of the Chinese Advisory Board. Peng Siang Quay in Singapore is named after him.

Early life and education

Lim was the son of Lim Ho Puah. His mother was the only daughter of Wee Bin, the founder of Wee Bin & Co. He was born in Amoy, Fujian, China in 1872.[5] After receiving his education in Chinese, he travelled to Singapore when he was still very young. Like his father, Lim was naturalised as a British subject, in 1902. He received private tuition in English and was a student at the St. Joseph's Institution.[6]

Career

Lim joined the firm of Wee Bin & Co., which was then under the management of his father, and eventually rose to its head before setting out to start the Ho Hong Group. He took over the greater part of the firm's business, including the large steamships, when the firm of Wee Bin & Co. was liquidated in 1911[7]

In 1914, Lim founded the Ho Hong Steamship Company Ltd. He sold most of his shares in Ho Hong Steamship to the Oversea Chinese Banking Corporation in 1936.

Lim founded the Chinese Commercial Bank in 1912 together with other members of the Singapore Hokkien business community. Together with Lim Boon Keng, Seow Poh Leng and others, he founded the Ho Hong Bank in 1917. In 1932, Chinese Commercial Bank and Ho Hong Bank merged with the Oversea-Chinese Bank to form the Oversea-Chinese Banking Corporation.[5] [8] [9]

By the 1910s, Ho Hong Group was the most diversified group of companies in Malaya.[10] Companies in the group founded by Lim included Ho Hong Steamship Co. Ltd., Ho Hong Oil Mills Ltd., Ho Hong Parboiled Rice Mill, Ho Hong Bank Ltd., and the Ho Hong Portland Cement Works Ltd. He also had plans for a bucket-making factory, and for the reclamation and development of several big pieces of swampy land in a big industrial area in the immediate neighbourhood of Singapore Town.[6]

Public life

Lim was involved in the formation of the Singapore Chinese Chamber of Commerce, and was its president from 1913 to 1916, except for 1914 when he was vice president. He was a member of the Chinese Advisory Board between 1921 and 1941, as one of the representatives of the Hokkien community. Along with his brother, he was an honourable chairperson of the Hong Kong Fujian Chamber of Commerce between 1930 and 1941.[11]

Lim was also a director of a number of public companies, including the Central Engine Works Ltd. and the Central Motors Ltd. He was also a Justice of the Peace.

In his later years, he was less active in public life, and declined the offer of a seat on the Legislative Council several times, in order to concentrate on his industrial work.[12]

Benefactor

Further reading

Notes and References

  1. The Kuomintang Movement in British Malaya, 1912–1949 By Ching Fatt Yong, R. B.; p. 5, 258, 282
  2. Yong, C. F. (June 2004). 'Lim Peng Siang and the building of the Ho Hong Empire in colonial Singapore' in Asian culture, Issue 28, June 2004 pp. 1-26.
  3. Chinese Business Enterprise By Rajeswary Ampalavanar Brown; p. 137
  4. The Economic Growth of Singapore By W. G. Huff; p. 147, 225, 459
  5. Singapore By Gretchen Liu; p. 174
  6. One Hundred Years' History of the Chinese in Singapore by Ong Siang Song, 1923 - Page 114–116
  7. Ray . Rajat Kanta . July 1995 . Asian Capital in the Age of European Domination: The Rise of the Bazaar, 1800-1914 . Modern Asian Studies . Cambridge University Press . 29 . 3 . 449–554 . 10.1017/S0026749X00013986 . 312868.
  8. http://fic.wharton.upenn.edu/fic/papers/01/0120.pdf The International Expansion of Singapore's Largest Banks by Adrian E. Tschoegl
  9. Capital and Entrepreneurship in South-East Asia By Rajeswary Ampalavanar Brown, 1943- Brown Published by St. Martin's Press, 1994;, ; p. 161
  10. Oei Tiong Ham Concern: The First Business Empire of Southeast Asia by YOSHIHARA Kunio*, Southeast Asian Studies, Vol. 27, No.2, September 1989
  11. http://mumford.albany.edu/chinanet/shanghai2005/kuohueiying_en.doc Chinese Sub-ethnic Identities in Nationalist Movements—A Study on Hong Kong and Singapore in the 1930s* (Draft Only) Kuo Huei-ying, Ph. D. Candidate, Dept. of Sociology, State University of New York at Binghamton hkuo@binghamton.edu, Paper Prepared to the Annual Conference on ‘Chinese Cities in Transition: The Next Generation of Urban Research: Part 4,’ Shanghai Academy of Social Science, Shanghai, July 7-9th, 2005
  12. Chinese Leadership and Power in Colonial Singapore By Ching Fatt Yong Published by Times Academic Press, 1992;, ; p. 71

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