The Business On: Peter Lim, businessman


A rich man, we hear?

You could say that. He's Singapore's eighth-richest man according to the Forbes rich list, which makes him a billionaire (Forbes reckons $1.6bn about covers it). Still he's a few quid worse off today, having shelled out a"significant" sum to buy a stake in McLaren Automotive, the Formula One and sports-car business that is based here in the UK.



How much has he spent?

Neither side is saying, but the deal is thought to value McLaren at several hundred million pounds. Mr Lim is taking a seat on the board, so he's obviously acquired a chunky stake.



He must like his motor racing?

So it would seem, though until now he's been associated with a different sport. He came close to buying Liverpool Football Club last year before being outbid by the American group that got it in the end. He's also associated with Manchester United, owning bars and clubs across Asia with a Manchester United theme.



Hang on, aren't Man United up to something in his backyard?

Indeed. The club is working towards selling a stake on the Singapore stock exchange. The structure of the deal hasn't been made public yet, but one imagines Mr Lim would be interested in participating. He was part of the Red Knights consortium that thought about bidding for the club last year at the height of unpopularity of the Glazers, Man United's current owners.



So how did he make his money?

He's a self-made man. Dad was afishmonger and Mr Lim went to school in Singapore before doing an accountancy degree in Australia while holding down several part-time jobs (everything from driving a cab to waiting tables). On his return home, he set up shop as a stockbroker and became hugely successful. They still call him the "Remisier King" in Singapore (it's the local word for stockbroker).



What does he do with his cash?

As well as the headline investments, he's made a number of philanthropic gestures related to sport. The Singapore Olympic Federation, for example, is the beneficiary of a $10m scholarship he has financed.

Start your day with The Independent, sign up for daily news emails
ebooks
ebooksA special investigation by Andy McSmith
  • Get to the point
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Neil Pavier: Commercial Analyst

£50,000 - £55,000: Neil Pavier: Are you a professionally qualified commercial ...

Loren Hughes: Financial Accountant

£45,000 - £55,000: Loren Hughes: Are you looking for a new opportunity that wi...

Sheridan Maine: Finance Analyst

Circa £45,000-£50,000 + benefits: Sheridan Maine: Are you a newly qualified ac...

Sheridan Maine: Financial Accountant

£150 - £190 Daily Rate: Sheridan Maine: One of London's leading water supplier...

Day In a Page

No postcode? No vote

Floating voters

How living on a houseboat meant I didn't officially 'exist'
Louis Theroux's affable Englishman routine begins to wear thin

By Reason of Insanity

Louis Theroux's affable Englishman routine begins to wear thin
Power dressing is back – but no shoulderpads!

Power dressing is back

But banish all thoughts of Eighties shoulderpads
Spanish stone-age cave paintings 'under threat' after being re-opened to the public

Spanish stone-age cave paintings in Altamira 'under threat'

Caves were re-opened to the public
'I was the bookies’ favourite to be first to leave the Cabinet'

Vince Cable interview

'I was the bookies’ favourite to be first to leave the Cabinet'
Election 2015: How many of the Government's coalition agreement promises have been kept?

Promises, promises

But how many coalition agreement pledges have been kept?
The Gaza fisherman who built his own reef - and was shot dead there by an Israeli gunboat

The death of a Gaza fisherman

He built his own reef, and was fatally shot there by an Israeli gunboat
Saudi Arabia's airstrikes in Yemen are fuelling the Gulf's fire

Saudi airstrikes are fuelling the Gulf's fire

Arab intervention in Yemen risks entrenching Sunni-Shia divide and handing a victory to Isis, says Patrick Cockburn
Zayn Malik's departure from One Direction shows the perils of fame in the age of social media

The only direction Zayn could go

We wince at the anguish of One Direction's fans, but Malik's departure shows the perils of fame in the age of social media
Young Magician of the Year 2015: Meet the schoolgirl from Newcastle who has her heart set on being the competition's first female winner

Spells like teen spirit

A 16-year-old from Newcastle has set her heart on being the first female to win Young Magician of the Year. Jonathan Owen meets her
Jonathan Anderson: If fashion is a cycle, this young man knows just how to ride it

If fashion is a cycle, this young man knows just how to ride it

British designer Jonathan Anderson is putting his stamp on venerable house Loewe
Number plates scheme could provide a licence to offend in the land of the free

Licence to offend in the land of the free

Cash-strapped states have hit on a way of making money out of drivers that may be in collision with the First Amendment, says Rupert Cornwell
From farm to fork: Meet the Cornish fishermen, vegetable-growers and butchers causing a stir in London's top restaurants

From farm to fork in Cornwall

One man is bringing together Cornwall's most accomplished growers, fishermen and butchers with London's best chefs to put the finest, freshest produce on the plates of some of the country’s best restaurants
Robert Parker interview: The world's top wine critic on tasting 10,000 bottles a year, absurd drinking notes and New World wannabes

Robert Parker interview

The world's top wine critic on tasting 10,000 bottles a year, absurd drinking notes and New World wannabes
Don't believe the stereotype - or should you?

Don't believe the stereotype - or should you?

We exaggerate regional traits and turn them into jokes - and those on the receiving end are in on it too, says DJ Taylor