Peter Lim Explained

Peter Lim
Birth Date:21 May 1953
Birth Place:Singapore
Education:University of Western Australia
Spouse:
    Children:2 (including Kiat Lim)

    Peter Lim Eng Hock[1] (born 21 May 1953) is a Singaporean business magnate who was a stockbroker and an investor in palm oil, and is now a private investor focused on healthcare, property, sports, and education.[2] [3] In 2023, he was ranked 23rd on Forbes' list of Singapore's 50 Richest with a net worth of US$1.9 billion.[4] [5] He is a shareholder of English club Salford City and the owner of Spanish La Liga club Valencia CF since 2014.[6] [7] [8] [9]

    In 2010, Lim won the biggest libel payout in Singapore's history in the Raffles Town Club saga.[10] [11]

    Early life and education

    The son of a fishmonger,[12] Lim and his seven siblings grew up in a two-bedroom government flat in the Bukit Ho Swee public housing estate. Lim completed his secondary school education at the Raffles Institution. After National Service, he went to Perth to study at the University of Western Australia.[13] To fund his university education, Lim worked part-time doing odd jobs as a taxi driver, cook and waiter.

    While working at Australian fast-food chain Red Rooster, Lim studied how businesses are started, how they grow, and how they scale up.[14]

    He graduated with a degree in accounting and finance and first worked as an accountant and did some tax consultancy before going into stocks.

    Early career

    In the early 1990s, Lim invested about US$10 million in a start-up palm-oil company, Wilmar.[15] In 2010, Lim cashed out at the peak of commodity prices and sold his Wilmar shares for US$1.5 billion.[16]

    Lim was known as the "Remisier King" (commission king) due to his success as a stockbroker in the 1980s.[17]

    Lim quit the brokerage business in 1996 and became a private investor.

    Sports investment

    Lim owns a controlling stake in Spanish La Liga club Valencia CF,[18] a 40% stake in Salford City F.C.,[19] and Hotel Football next to Old Trafford stadium in Manchester.[20] He previously owned stakes in British supercar maker McLaren Automotive.[21] Since becoming majority shareholder of Valencia CF in 2014, the club has qualified for the UEFA Champions League 3 times, and won the Copa del Rey in 2019. Separately, Salford City achieved 4 promotions in 5 seasons to reach League Two in 2019,[22] and won the delayed 2020 Papa John's Trophy.[23]

    In 2010, Lim expressed interest in purchasing Liverpool Football Club, submitting a bid of £320 million cash offer for the club.[24] Liverpool FC was eventually sold to New England Sports Ventures.[25]

    In October 2021, Lim co-founded ZujuGP with his son.[26]

    Valencia CF

    In May 2014, Lim was designated by the Fundación Valencia CF as the buyer of 70.4% of the shares owned by the club's foundation. After months of negotiations between Lim and Bankia (the main creditor of the club), an agreement was reached in August 2014.[27] Nuno Espírito Santo was hired as head manager on 2 July 2014, a condition Lim had insisted on when buying the club.[28] [29] Santo's first season was successful, with notable signings.[30] [31] [32] Valencia finished the 2014–15 season in fourth place, qualifying for the Champions League qualification with 77 points, just one point ahead of Sevilla after a dramatic final week in which it defeated Granada 4–0.[33]

    In 2017, the club announced club president Lay Hoon Chan would be replaced by Anil Murthy.[34] After rumours arose of Lim's attempts at selling the club, Murthy assured the fans and local media that Valencia was a long-term project for both him and Lim, and they would not consider selling the club.[35] [36]

    In 2021, after six seasons under Lim's ownership, Valencia CF began to pay back the banks, which it was financially unable to do previously.[37]

    Philanthropy

    In June 2010 the Singapore Olympic Foundation (SOF) set up the SOF-Peter Lim Scholarship with a S$10 million donation from Lim. The gift is the single largest donation in Singapore from an individual towards sports development.[38] The recipients are typically students who come from financially challenged backgrounds and have demonstrated a potential to excel in their respective sports.[39] In 2019, Lim further pledged to continue supporting young local athletes for another 10 years from 2021 to 2030 by donating another S$10 million to the SOF-Peter Lim Scholarship.[40] From 2011 to 2023, 4,519 student-athletes from 54 sports have received scholarships amounting to S$10.45 million.[41]

    Lim further committed a separate S$20 million to start a new community project focused on helping children from less privileged backgrounds, with the aim of helping them reach their potential.

    In 2011, Lim donated S$2 million for the HCIS-Peter Lim Scholarship Fund for students with exceptional academic merit, but with financial constraints in a 2-year scholarship covering the IInternational Baccalaureate Diploma Program, in which tuition fees would be paid for in full.[42]

    In 2014, Lim also endowed Nanyang Technological University with S$3 million to fund a professorship in peace studies at the S. Rajaratnam School of International Studies to protect and promote harmony in Singapore.[43]

    In 2018, Lim donated S$900,000 over three years to build Therapeutic Gardens in Telok Blangah, Punggol and Bedok Reservoir.

    In 2020, in a partnership with NParks, Lim pledged S$10 million to set up the NParks – Peter Lim Scholarship for youth from less privileged backgrounds to pursue their interests in landscaping, horticulture, ecology, veterinary and animal science sectors.[44] Since its inception in 2020, study awards under the NParks – Peter Lim Scholarship have been given out to over 750 students in Singapore.

    In 2022, Lim pledged S$680,000 to the Peter Lim Sports Ignite Grant to provide children and youth from disadvantaged backgrounds with the platform to pursue their sports interests and skills development. The grant also aims to empower girls to pursue their interests in sports and science, technology, engineering, arts and mathematics (STEAM).[45]

    References

    Citations

    External links

    Notes and References

    1. Web site: 19 August 2010. Peter Lim a savvy investor. 18 June 2024. The Edge Malaysia. en.
    2. Web site: Peter Lim pierde en bolsa 1.665 millones de euros con TMG desde la compra del Valencia CF. https://web.archive.org/web/20210121051701/https://valenciaplaza.com/peter-lim-pierde-dinero-bolsa-desde-compra-valencia. 21 January 2021. 5 February 2021. Valencia Plaza. es. live.
    3. Web site: TMG, el holding cotizado de Peter Lim, se hunde en la Bolsa de Singapur a mínimos de hace 8 años. https://web.archive.org/web/20210225055302/https://valenciaplaza.com/tmg-holding-cotizado-peter-lim-bolsa-de-singapur. 25 February 2021. 5 February 2021. Valencia Plaza. es. live.
    4. Web site: Singapore's 50 Richest . Naazneen . Karmali . Jane . Ho. 6 September 2023 . . 28 April 2024.
    5. Web site: Singapore's 50 Richest. 2024. 28 April 2024. Forbes.
    6. Web site: Baillif. Elias. Institution bafouée et résistance : Valence est-il (ir)récupérable ?. https://web.archive.org/web/20210305101120/https://www.eurosport.fr/football/liga/2020-2021/institution-bafouee-et-resistance-valence-est-il-ir-recuperable_sto8087754/story.shtml. 5 March 2021. 5 February 2021. Eurosport. live.
    7. News: Panja. Tariq. 5 February 2021. They Hailed the New Owner as a Savior. Then They Got to Know Him.. en-US. The New York Times. 5 February 2021. 0362-4331. 23 December 2021. https://web.archive.org/web/20211223221442/https://www.nytimes.com/2021/02/05/sports/soccer/valencia-peter-lim.html. live.
    8. Web site: Corrigan. Dermot. 'He had everything. And he destroyed it': Peter Lim's six years at Valencia. 5 February 2021. The Athletic. 13 February 2021. https://web.archive.org/web/20210213044828/https://theathletic.com/2186851/2020/11/16/valencia-la-liga-peter-lim/. live.
    9. Web site: Picó. Diego. Valencia. 5 January 2017. Is the sun setting on Lim's time in Valencia?. https://web.archive.org/web/20170512200714/http://www.marca.com/en/football/spanish-football/2017/01/05/586e2e70e5fdea2d568b4568.html. 12 May 2017. 5 February 2021. MARCA. en. live.
    10. Web site: Raffles Town Club Pte Ltd v Lim Eng Hock Peter. dead. https://web.archive.org/web/20201014192928/https://www.supremecourt.gov.sg/docs/default-source/module-document/judgement/2010-sghc-291.pdf. 14 October 2020.
    11. Web site: 28 July 2010. Peter Lim wins S$210,000 in damages in RTC defamation suit. dead. https://web.archive.org/web/20100729172650/http://www.channelnewsasia.com/stories/singaporelocalnews/view/1072047/1/.html. 29 July 2010. Channel NewsAsia.
    12. News: 7 October 2016 . 8 Wise Lessons on Wealth That Singapore's Self-Made Tycoon Peter Lim Can Teach Us . 5 June 2015 . Hee . Jolene . Vulcan Post . 9 October 2016 . https://web.archive.org/web/20161009110337/https://vulcanpost.com/263521/8-lessons-wealth-peter-Lim/ . live .
    13. News: 5 things about Peter Lim and his new football club Valencia . 28 August 2020 . 28 October 2020 . https://web.archive.org/web/20201028152558/https://www.straitstimes.com/sport/football/5-things-about-peter-lim-and-his-new-football-club-valencia . live .
    14. Web site: Peter Lim: From Taxi Driver To Billionaire, And His Latest S$1M Meal Donation For COVID-19. https://web.archive.org/web/20210116174810/https://vulcanpost.com/699515/peter-lim-billionaire-singapore/. 16 January 2021. 27 May 2020. live.
    15. Web site: Peter Lim. 11 August 2020. Forbes. en. 13 September 2017. https://web.archive.org/web/20170913140342/https://www.forbes.com/profile/peter-lim/. live.
    16. News: Karmali . Naazneen . Peter Lim's Health Care Bet . 29 November 2023 . Forbes . 28 August 2013 . en.
    17. News: Ducker . James . Valencia owner's rags to riches tale . 28 April 2024 . 3 December 2015. The Sunday Times. en . 23 April 2024 . https://web.archive.org/web/20240423021319/https://www.thetimes.co.uk/article/valencia-owners-rags-to-riches-tale-5lhtvz8hzjf . live.
    18. Web site: Football: Singaporean billionaire Peter Lim gets rousing welcome in Valencia. 28 October 2014. The Straits Times. 9 March 2021. 20 October 2020. https://web.archive.org/web/20201020092438/https://www.straitstimes.com/sport/football/football-singaporean-billionaire-peter-lim-gets-rousing-welcome-in-valencia. live.
    19. Web site: Peter Lim to buy 50% stake in Salford City from Class of '92. 22 September 2014. the Guardian. 14 August 2021. 14 August 2021. https://web.archive.org/web/20210814182200/https://www.theguardian.com/football/2014/sep/22/salford-city-peter-lim-class-of-92. live.
    20. Web site: Billionaire Peter Lim invests in Manchester United legends' Hotel Football. www.attractionsmanagement.com. 14 August 2021. 23 April 2024. https://web.archive.org/web/20240423021323/https://www.attractionsmanagement.com/index.cfm?subID=0&pagetype=news&codeID=317766&dom=n&email=web&pub=AMe&date=. live.
    21. News: 19 August 2011 . Singapore billionaire Peter Lim invests in McLaren Automotive . live . https://web.archive.org/web/20210516225234/https://www.reuters.com/article/us-peterlim-mclaren-idUSTRE77I1U920110819 . 16 May 2021 . 9 March 2021 . Reuters . www.reuters.com.
    22. Web site: The Salford City project - How far can it go?. footballwhispers.com. 9 March 2021. 22 April 2021. https://web.archive.org/web/20210422174921/https://footballwhispers.com/blog/salford-city-project-far-can-go/. live.
    23. News: Salford win Papa John's Trophy on penalties. BBC Sport. 14 August 2021. 15 August 2022. https://web.archive.org/web/20220815130238/https://www.bbc.co.uk/sport/football/56320947. live.
    24. Web site: Morley . Gary . Black . Phil . 12 October 2012 . Liverpool gets new offer amid court battle . 11 June 2024 . CNN Sport+ . en-US.
    25. News: Cutler . David . 15 October 2010 . Soccer-Liverpool ownership battle . live . 11 June 2024 . Reuters.
    26. Web site: Jonathan Burgos . October 18, 2021 . Singapore Billionaire Peter Lim Launches Digital Platform, Endorsed By Soccer Star Cristiano Ronaldo . March 27, 2022 . Forbes . 14 January 2022 . https://web.archive.org/web/20220114054540/https://www.forbes.com/sites/jonathanburgos/2021/10/18/singapore-billionaire-peter-lim-launches-digital-platform-endorsed-by-soccer-star-cristiano-ronaldo/ . live .
    27. News: Lim a signature away from Valencia takeover. Marca. 5 February 2021. 16 August 2014. https://web.archive.org/web/20140816193355/http://www.marca.com/2014/08/14/en/football/spanish_football/1408050349.html. live.
    28. News: 2 July 2014. Valencia sack coach Pizzi, Nuno tipped to take over. UEFA. 5 February 2021. 13 August 2017. https://web.archive.org/web/20170813143734/http://uk.reuters.com/article/uk-soccer-spain-valencia-coach-idUKKBN0F71RS20140702. live.
    29. News: 3 July 2014. Nuno takes up Valencia coaching reins. The Daily Telegraph. 5 February 2021. 16 September 2017. https://web.archive.org/web/20170916111539/http://www.uefa.com/memberassociations/association=esp/news/newsid=2121595.html. live.
    30. News: 2 September 2014. Official VCF Announcement – Álvaro Negredo. Valencia CF. 5 February 2021. 30 May 2019. https://web.archive.org/web/20190530065359/http://en.valenciacf.com/ver/37002/official-vcf-announcement---alvaro-negredo.html. live.
    31. Web site: 2 January 2015. Presentación oficial de Enzo Pérez como nuevo jugador del Valencia CF. Official presentation of Enzo Pérez as new player of Valencia CF. 3 January 2015. Valencia CF. es. 3 January 2015. https://web.archive.org/web/20150103015222/http://www.valenciacf.com/ver/39696/presentacion-oficial-de-enzo-perez-como-nuevo-jugador-del-valencia-cf.html. dead.
    32. News: 17 July 2014. Valencia regista André Gomes como emprestado pelo Benfica. pt. Valencia register André Gomes as loaned by Benfica. Record. dead. 19 July 2014. https://web.archive.org/web/20140720002942/http://www.record.xl.pt/Futebol/Internacional/espanha/interior.aspx?content_id=895137. 20 July 2014.
    33. News: 27 April 2015. Valencia climb back above Sevilla in battle for fourth. Eurosport. 5 February 2021. 17 April 2024. https://web.archive.org/web/20240417124949/https://www.eurosport.com/geoblocking.shtml. live.
    34. News: 10 April 2017. Layhoon Chan to step down as president of Valencia. ESPN. 5 February 2021. 13 August 2017. https://web.archive.org/web/20170813153218/http://www.espn.in/football/valencia/story/3100755/layhoon-chan-to-step-down-as-president-of-valencia. live.
    35. News: 11 April 2017. Owner Peter Lim 'would not sell Valencia for €1bn' – Anil Murthy. ESPN. 5 February 2021. 13 August 2017. https://web.archive.org/web/20170813225735/http://www.espn.in/football/valencia/story/3101248/owner-peter-lim-would-not-sell-valencia-for-one-billion-euros-anil-murthy. live.
    36. News: 3 July 2017. New Valencia president Anil Murthy vows to rebuild club for years to come – Anil Murthy. 5 February 2021. 13 August 2017. https://web.archive.org/web/20170813225902/http://www.todayonline.com/sports/football/new-valencia-president-anil-murthy-vows-rebuild-team-future. live.
    37. Web site: Football: 'A bankrupt club is not a better club,' says Valencia owner Peter Lim. 14 August 2021. CNA. en. 14 August 2021. https://web.archive.org/web/20210814175041/https://www.channelnewsasia.com/sport/valencia-peter-lim-bankrupt-club-football-covid-19-622046. dead.
    38. Web site: Almost $800,000 doled out in this year's SOF-Peter Lim Scholarship for 269 student-athletes. hermesauto. 1 June 2018. The Straits Times. en. 19 August 2019. https://web.archive.org/web/20190819230709/https://www.straitstimes.com/sport/almost-800000-doled-out-in-this-years-sof-peter-lim-scholarship-for-269-student-athletes. 19 August 2019. live.
    39. Web site: Lim commits further $10 million to support Singapore Olympic Foundation. 6 July 2019. www.insidethegames.biz. https://web.archive.org/web/20190819230713/https://www.insidethegames.biz/articles/1081628/support-for-singapore-olympic-foundation. 19 August 2019. live. 19 August 2019.
    40. Web site: Billionaire Peter Lim donates another $10 million to Singapore Olympic Foundation for scholarship. hermesauto. 3 July 2019. The Straits Times. en. 19 August 2019. https://web.archive.org/web/20190704235005/https://www.straitstimes.com/sport/sports-billionaire-peter-lim-donates-another-10-million-to-singapore-olympic-foundation-for. 4 July 2019. live.
    41. Web site: Keng Fai . Chay . 2024 . SOF-Peter Lim Scholarship . 11 Jun 2024 . Singapore Olympic Foundation . en-GB.
    42. Web site: Hong Yi . Tay . 21 May 2023 . The HCIS – Peter Lim Scholarship . 11 June 2024 . Peter Lim Philanthropy . en-US.
    43. Web site: Peter Lim donates S$3m to NTU for peace studies professorship. 10 June 2014. TODAYonline. https://web.archive.org/web/20190819230705/https://www.todayonline.com/singapore/peter-lim-donates-s3m-ntu-peace-studies-professorship. 19 August 2019. live. 19 August 2019.
    44. Web site: June 2023 . Mint Media Sports presents Cristiano Ronaldo's #BeSIUPER weekend visit to Singapore . 11 June 2024 . The Sun Malaysia . en-MY.
    45. Web site: 21 May 2023 . Peter Lim Sports Ignite Grant . 11 June 2024 . Peter Lim Philanthropy . en-US.

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