Marissa Lee
The Straits Times
Wednesday, Dec 09, 2015
Singapore billionaire Peter Lim's upcoming healthcare mega-city in Iskandar Johor is linking up with another of his firms - Thomson Medical.
The private healthcare provider inked a memorandum of understanding yesterday with Rowsley, the developer controlled by Mr Lim.
The deal involves the firms working together to conceptualise, develop and promote the RM5 billion (S$1.7 billion) healthcare city.
Thomson Medical will advise on the wellness and healthcare aspects of the project and evaluate opportunities to operate relevant components, either on its own or together with third parties, said Rowsley in a statement.
Rowsley announced in September that it was re-positioning Vantage Bay into a medical hub instead of a lifestyle township following the decline in the market for residential apartments in Iskandar over the last year.
Vantage Bay Healthcare City, a 9.23ha site a kilometre from the Johor Causeway, will comprise a specialist hospital, a community hospital, long-term care facilities, a teaching hospital, a medical school, research and training institutions and a wellness resort.
Rowsley said in its statement yesterday: "According to official statistics, the number of Malaysians and Singaporeans aged 65 years and older will double to six million by 2030 from today.
"With ageing population and rising healthcare costs, Rowsley believes that Vantage Bay Healthcare City is well-placed to address these trends."
Vantage Bay is next to the Thomson Medical Hub, also being developed by a firm linked to Mr Lim. That project will be managed by Thomson Medical when it is ready in 2018.
Thomson Medical group president Chan Boon Kheng said the firm will play a "pivotal role in the seamless management and coordination" of the Vantage Bay Healthcare City and the Thomson Iskandar projects.
Wednesday, December 9, 2015
Friday, October 2, 2015
Valencia CF to receive €100 million injection from Lim
By Adelene Wong
adelenewong@mediacorp.com.sg .
Published: 7:37 AM, October 1, 2015
SINGAPORE — Singaporean billionaire Peter Lim will inject €100 million (S$159.1 million) into Valencia CF via his private investment company, Meriton Holdings, said the Spanish La Liga football club’s executive president, Chan Lay Hoon this morning (Singapore time).
At the press conference held at the Mestalla Stadium, Chan said the board has just approved this at a board meeting held earlier in the day.
“We have just finished our board meeting, and the board has just approved, and Meriton has agreed to capitalise on the shareholder loan of €100 million,” she said.
“With the capitalisation of the €100 million loan, the equity of the club will be strengthened from the current €50 million to €150 million.”
An extra €80-million loan facility will be granted to Valencia CF, said Chan. The cash injections will enable the club to achieve a number of objectives, she added.
“The strengthening of the club’s balance sheet and financial health will allow us to: One, continue to invest in first team and academy to compete at the highest level of European competitions,” she said.
“Two, (it will allow us) to strengthen our balance sheets to protect our assets, and to build a brighter future for the club.
“And thirdly - which is I think is a very important point where the club has been suffering in the past - that is, to allow the club to be in a very strong position to manage a credible relationship with regulators, business partners, bankers, and creditors.
“So that, when we talk to them, we look at them in the eyes.”
Singaporean Lim was given a hero’s welcome by Valencia CF fans after buying 70.4 per cent of the near-bankrupt club last May in a €420 million deal.
He had also promised to turn the club’s fortunes around by ridding the club of their debts and financing the construction of a new stadium.
Valencia CF finished fourth last season to qualify for the Champions League for the first time since 2012. However, a slow start to their campaign this season resulted in some unhappiness among a section of fans, who have been whistling and jeering under-fire coach Nuno Espiritio Santo during matches.
Last week, former club vice-president Miguel Zorio also filed a legal complaint targeted at Lim, football agent Jorge Mendes, and former club president Amadeo Salvo. In the complaint, Zorio questioned the club’s purchase of a number of player who are represented by Mendes.
Addressing the fans’ unhappiness with the results on the field, Chan said she felt that they were coming down a bit too hard on the team.
“In the recent games, when the team was not in their best form, (there was) the whistling and the criticism that we get from the fans. We are always self-critical, but personally, I still feel a bit bad for our team. I feel that our fans were a bit harsh on our team,” she said.
“So we know that we have to work very hard to win our fans back... My message to our fans is, let’s stick together as family.”
On Zorio’s allegations, she said: “I don’t know this person, but I heard a lot of stories about this person.
“The club has issued an official statement a few days ago. He (Zorio) has never approached me or asked me for any clarification before he makes the allegations... Only this morning, he has sent a letter to the club, and this is after he had already made very damaging allegations. So, I think that shows you how responsible this person is. I don’t think I need to say anymore.”
adelenewong@mediacorp.com.sg .
Published: 7:37 AM, October 1, 2015
SINGAPORE — Singaporean billionaire Peter Lim will inject €100 million (S$159.1 million) into Valencia CF via his private investment company, Meriton Holdings, said the Spanish La Liga football club’s executive president, Chan Lay Hoon this morning (Singapore time).
At the press conference held at the Mestalla Stadium, Chan said the board has just approved this at a board meeting held earlier in the day.
“We have just finished our board meeting, and the board has just approved, and Meriton has agreed to capitalise on the shareholder loan of €100 million,” she said.
“With the capitalisation of the €100 million loan, the equity of the club will be strengthened from the current €50 million to €150 million.”
An extra €80-million loan facility will be granted to Valencia CF, said Chan. The cash injections will enable the club to achieve a number of objectives, she added.
“The strengthening of the club’s balance sheet and financial health will allow us to: One, continue to invest in first team and academy to compete at the highest level of European competitions,” she said.
“Two, (it will allow us) to strengthen our balance sheets to protect our assets, and to build a brighter future for the club.
“And thirdly - which is I think is a very important point where the club has been suffering in the past - that is, to allow the club to be in a very strong position to manage a credible relationship with regulators, business partners, bankers, and creditors.
“So that, when we talk to them, we look at them in the eyes.”
Singaporean Lim was given a hero’s welcome by Valencia CF fans after buying 70.4 per cent of the near-bankrupt club last May in a €420 million deal.
He had also promised to turn the club’s fortunes around by ridding the club of their debts and financing the construction of a new stadium.
Valencia CF finished fourth last season to qualify for the Champions League for the first time since 2012. However, a slow start to their campaign this season resulted in some unhappiness among a section of fans, who have been whistling and jeering under-fire coach Nuno Espiritio Santo during matches.
Last week, former club vice-president Miguel Zorio also filed a legal complaint targeted at Lim, football agent Jorge Mendes, and former club president Amadeo Salvo. In the complaint, Zorio questioned the club’s purchase of a number of player who are represented by Mendes.
Addressing the fans’ unhappiness with the results on the field, Chan said she felt that they were coming down a bit too hard on the team.
“In the recent games, when the team was not in their best form, (there was) the whistling and the criticism that we get from the fans. We are always self-critical, but personally, I still feel a bit bad for our team. I feel that our fans were a bit harsh on our team,” she said.
“So we know that we have to work very hard to win our fans back... My message to our fans is, let’s stick together as family.”
On Zorio’s allegations, she said: “I don’t know this person, but I heard a lot of stories about this person.
“The club has issued an official statement a few days ago. He (Zorio) has never approached me or asked me for any clarification before he makes the allegations... Only this morning, he has sent a letter to the club, and this is after he had already made very damaging allegations. So, I think that shows you how responsible this person is. I don’t think I need to say anymore.”
Tuesday, June 30, 2015
Peter Lim buys rights to images of Ronaldo
By Shanjayan Muniappan
shanjayanm@mediacorp.com.sg
Published: 4:17 AM, June 30, 2015
SINGAPORE — The image rights of Cristiano Ronaldo (picture), the world’s highest-paid footballer, are now being managed by a company owned by Singaporean businessman Peter Lim.
In a press release yesterday, it was announced that Mint Media, a Hong Kong-based company owned by Mr Lim, had secured a six-year deal with the Portuguese star, who is the reigning FIFA Ballon d’Or winner, the award handed out to the best football player in the world.
Mint Media will own and oversee all of the 30-year-old’s image rights, except those relating to Real Madrid, the Spanish football club for which he plays.
Due to confidentiality reasons, contractual details, such as how much the deal is worth, were not revealed. But in response to queries from TODAY, a spokesperson for Mint Media revealed that Asian companies were very interested in working with Ronaldo.
“We are seeing a lot of interest from Asian companies, including those from Singapore looking to expand their markets into North and South Americas as well as Europe, where Ronaldo has a huge following,” said the spokesperson.
“We believe they would be keen to have Ronaldo, who is one of the most accomplished and popular sportsmen in the world, endorse their products. And we hope the collaborations will see Ronaldo making more appearances to Asia in general and Singapore in particular.”
Ronaldo, who previously played for record-20-time English league champions Manchester United before joining Real in 2009, is the third-highest-paid athlete in the world, behind boxers Floyd Mayweather Jr and Manny Pacquiao, according to Forbes.
Among the brands Ronaldo endorses are sportswear giant Nike, nutrition and weight management firm Herbalife, Swiss watchmaker TAG Heuer, and fashion and lifestyle brand Sacoor Brothers. A Forbes report this year stated that he draws US$27 million (S$36.4 million) from endorsements alone.
Ronaldo will be Mint Media’s first client as it looks to venture into sports marketing, and Mr Lim — who last year became owner of Spanish club Valencia — expressed confidence that the football star’s brand “will continue to grow”.
“Peter has a valuable and extensive business network, and I have always admired his entrepreneurial savvy and ability to grow businesses,” said Ronaldo in a statement.
When the six-year deal ends, Ronaldo will be 36, which traditionally is the twilight of the careers of many professional footballers. But the spokesperson said: “We believe Ronaldo’s popularity will transcend his football career, as he also has a strong following among non-football fans because of his good looks and charisma.”
shanjayanm@mediacorp.com.sg
Published: 4:17 AM, June 30, 2015
SINGAPORE — The image rights of Cristiano Ronaldo (picture), the world’s highest-paid footballer, are now being managed by a company owned by Singaporean businessman Peter Lim.
In a press release yesterday, it was announced that Mint Media, a Hong Kong-based company owned by Mr Lim, had secured a six-year deal with the Portuguese star, who is the reigning FIFA Ballon d’Or winner, the award handed out to the best football player in the world.
Mint Media will own and oversee all of the 30-year-old’s image rights, except those relating to Real Madrid, the Spanish football club for which he plays.
Due to confidentiality reasons, contractual details, such as how much the deal is worth, were not revealed. But in response to queries from TODAY, a spokesperson for Mint Media revealed that Asian companies were very interested in working with Ronaldo.
“We are seeing a lot of interest from Asian companies, including those from Singapore looking to expand their markets into North and South Americas as well as Europe, where Ronaldo has a huge following,” said the spokesperson.
“We believe they would be keen to have Ronaldo, who is one of the most accomplished and popular sportsmen in the world, endorse their products. And we hope the collaborations will see Ronaldo making more appearances to Asia in general and Singapore in particular.”
Ronaldo, who previously played for record-20-time English league champions Manchester United before joining Real in 2009, is the third-highest-paid athlete in the world, behind boxers Floyd Mayweather Jr and Manny Pacquiao, according to Forbes.
Among the brands Ronaldo endorses are sportswear giant Nike, nutrition and weight management firm Herbalife, Swiss watchmaker TAG Heuer, and fashion and lifestyle brand Sacoor Brothers. A Forbes report this year stated that he draws US$27 million (S$36.4 million) from endorsements alone.
Ronaldo will be Mint Media’s first client as it looks to venture into sports marketing, and Mr Lim — who last year became owner of Spanish club Valencia — expressed confidence that the football star’s brand “will continue to grow”.
“Peter has a valuable and extensive business network, and I have always admired his entrepreneurial savvy and ability to grow businesses,” said Ronaldo in a statement.
When the six-year deal ends, Ronaldo will be 36, which traditionally is the twilight of the careers of many professional footballers. But the spokesperson said: “We believe Ronaldo’s popularity will transcend his football career, as he also has a strong following among non-football fans because of his good looks and charisma.”
Monday, June 8, 2015
8 wise lessons on wealth that Peter Lim can teach us
Monday, Jun 08, 2015
Jolene Hee
Vulcan Post
Now a tycoon with a net worth of S$3 billion and the 11th richest man in Singapore, Peter Lim is a classic rags-to-riches story if ever there was one.
The notoriously reclusive billionaire came from humble roots - his mother was a housewife and his father a fishmonger. Lim studied in Raffles Institution and struggled to put himself through university in Perth by working odd jobs as a taxi driver, cook and waiter.
What a long way the self-made billionaire - who made the bulk of his wealth investing in palm oil - has come since then.
In 2010, the renowned philanthropist donated S$10 million in scholarship funds to the Singapore Olympic Foundation, and in October last year, Lim forked out S$605 million to buy over Spanish football club Valencia and revive the club's ailing fortunes - just some of the more high-profile transactions he has conducted over the years.
While the magnate usually keeps well away from the media limelight, his thoughts on everything from investment to meritocracy have made their way into the public sphere over the years.
Here're some of his best ideas on wealth, happiness and giving back.
•The Singaporean has come to be dubbed a lucky charm because Valencia won five of the six matches he watched, including a 2-1 beating of mighty Real Madrid in January.
•The low-profile billionaire and former "remisier king", who shuns publicity at home and almost never gives interviews, gets rock-star treatment in Valencia.
•Last Oct 25, after his purchase of the ailing 95-year-old club was sealed, the street leading to the stadium's main grandstand was lined with thousands of supporters who twirled their scarves and chanted his name.
•Last week, his first comments to The Straits Times as Valencia owner were widely covered in Spanish dailies, which featured pictures of him and his wife, and mentioned on television and radio.
•His 23-year-old socialite daughter, Kim, is recognised on the streets of Valencia and fans go up to her with photo requests.
•His rags-to-riches story as the fishmonger's son who made good was fascinating, but Valencia players and staff did not know what to expect, given how some billionaire club owners in Europe brandish the axe as soon as they appear.
•German centre-back Shkrodan Mustafi said: "Mr Lim never came over and said, 'You must win La Liga.' He knows what's possible and what's not.
•He didn't come in and sack a lot of people immediately.
•In person, he is really relaxed and he enjoys being a part of this team. As for the players, it is always an honour to have him visit us in the dressing room."
•Mr Ng Ser Miang, head of the International Olympic Committee's finance commission and a Valencia board member, who has known Mr Lim for two decades, said: "Valencia is one of the oldest clubs in Spain. And a Singaporean has put the country on the world football map by owning a piece of European football history.
•"You can see that the fans and the city's people really welcome and respect Peter. That is because of his commitment to Valencia."
•Estimated by Forbes to be worth US$2 billion (S$2.7 billion), Mr Lim turns 62 this year. His home in Singapore is the entire 11-storey Abelia condominium, near Orchard Road.
•He counts as friends Real Madrid star Cristiano Ronaldo, former Manchester United favourite David Beckham, super agent Jorge Mendes, Chelsea manager Jose Mourinho, Formula One champion Lewis Hamilton and United's Class of 92 such as Ryan Giggs, Nicky Butt, Paul Scholes and Neville brothers Gary and Phil.
1. Fortune is 90 per cent hard work, 10 per cent providence
Interestingly, while Lim got where he is today through a mixture of savvy investing and sheer grit, the self-made mogul also believes that his enormous wealth can be attributed in some way to destiny.
"This size - substantially, it's your destiny. If today I have $10 million, I'd say over 90 per cent is due to my hard work. But getting it right is not $1 billion. Maybe it's $100 million. How that $100 million becomes $1 billion, you know it's because somebody likes you. You must believe it's somehow a path that's been drawn."
(Source: The Business Times, AsiaOne News)
2. Accept the good and bad with equanimity
The former 'Remisier King' is fabled for his unflappable, almost casual attitude towards money and investing. When Singapore's stock market nosedived back in 2007, he described the resultant erosion of more than $100 million of his stock's value as merely a "paper loss".
"When you are holding stocks, if it goes up, don't be too happy; when it goes down, don't be too sad. Otherwise, how? Your life will also be fluctuating and you'll die of a heart attack.
If you really lose sleep over it, maybe the best way is to keep the money in the bank."
(Source: Weekender)
What he does lose sleep over, he revealed, are "My kids. Like other parents, I worry about what they're doing and whether they'll pass their exams." It's clear that whatever his accomplishments, being a devoted father unquestionably comes first for Lim.
3. More money, more problems
The twice-married Lim, who divorced ex-wife of 12 years Venus Tan in the 1990s, believes that his astronomical wealth created more trouble in his personal life. The divorce was reportedly a messy one, involving a high-profile settlement of S$50 million and prolonged entanglements about Lim's alleged hiding of assets.
"Money is a funny thing. When you don't have it, you want it. But when you have it, you have a lot of problems. I believe that if I'd had no money, I wouldn't have had my divorce. Things wouldn't be good, but it wouldn't end up in a divorce."
(Source: The Business Times, AsiaOne News)
4. After a point, money doesn't translate to a better life
Despite the luxurious lifestyle he now has the means to lead - the tycoon lives with his wife and mother in an entire 11-storey condominium at Ardmore Park - Lim emphasises that there comes a point when extra wealth is meaningless.
"It's no different from what it was before I had the money. It makes no difference after a point. Like what they say, you can only talk louder. You can only eat so much and fly so many trips.
Money lets you enjoy a lot of things, but I don't think I'll die without money.
I don't think I'm eating a lot better than when I was a lot poorer than now. I don't really go for very special kinds of food. I'm still very local. I like my mee siam, mee rebus and lontong."
(Source: The New Paper, heshenchow.blogspot.sg)
5. Opposites do attract
When asked why he fell in love with his current wife, ex-actress Cherie Lim, the wealthy magnate had this to say:
"I came from the side of life that was very commercial, very money oriented. She comes from an artistic, more simple way of life. To put it bluntly, it was the difference of the rich and the poor."
(Source: The New Paper, heshenchow.blogspot.sg)
It's clear that despite his rumoured stable of Ferraris, Lamborghinis and Porsches, and the prominent string of buyovers, including Thomson Medical Group and McLaren Automative, to his name, the self-professed "son of a fishmonger" remains attracted to a simple life at heart.
6. Those who succeed must pass it on
Born and bred in Singapore, and bolstered by the opportunities afforded to him by our meritocratic system, Lim has made it one of his life missions to give back.
Some of the ways the local philanthropist has supported needy students so far include pledging a six-figure sum to the mini rugby academy of his alma mater, Raffles Institution, and committing to fund scholarships and financial aid at four Singapore schools.
His dedication to giving others the opportunities he had is encapsulated by this statement he made in 2007:
"I think it's very likely (that) a big part of my wealth will be directed towards education. It will be either a straight donation towards assisting educational institutions or maybe I'll set up a foundation.
Education must be cheap and accessible to anyone. For me, I was the son of a fishmonger, but I could still go to the best school. I had the opportunity to make money. There's no discrimination. I think this policy of meritocracy actually works. It's very fair and nobody can complain."
(Source: The New Paper, heshenchow.blogspot.sg)
7. Take risks (but protect yourself)
Much of Lim's wealth was the product of an unlikely venture. His single investment of US$10 million in Wilmar, an Indonesian palm oil startup, seemed far from promising in the late 90s, when Indonesia was facing political and social unrest.
At the time, the currency fell from 2,500 to 16,000 rupiah against the US dollar. But against all odds, Wilmar began to pick up the pieces and Lim's faith in the company paid off - in 2010, he cashed out his shares for US$1.5 billion.
"My Indonesian partner was asking me the other day: 'How the hell did we make so much money?'
Up to a point after people tell you a story and a vision, don't write it off. Sometimes it comes true. You just make sure that if it doesn't come true, you don't get hurt too much."
(Source: The Business Times, AsiaOne News)
8. On growing old and mortality
All things considered, the 62-year-old Lim has lived a fruitful and well-spent life, and it's evident that he's achieved a more philosophical outlook on living. Asked for his thoughts on ageing and death, he remarked:
"Once you are old, every year makes a lot of difference. Your lease gets shorter, there's no extension. You go, you go. Some of my school mates have passed away. So once you start to see all these things, your perspective on life becomes more measured, more considered."
(Source: The Business Times, AsiaOne News)
Jolene Hee
Vulcan Post
Now a tycoon with a net worth of S$3 billion and the 11th richest man in Singapore, Peter Lim is a classic rags-to-riches story if ever there was one.
The notoriously reclusive billionaire came from humble roots - his mother was a housewife and his father a fishmonger. Lim studied in Raffles Institution and struggled to put himself through university in Perth by working odd jobs as a taxi driver, cook and waiter.
What a long way the self-made billionaire - who made the bulk of his wealth investing in palm oil - has come since then.
In 2010, the renowned philanthropist donated S$10 million in scholarship funds to the Singapore Olympic Foundation, and in October last year, Lim forked out S$605 million to buy over Spanish football club Valencia and revive the club's ailing fortunes - just some of the more high-profile transactions he has conducted over the years.
While the magnate usually keeps well away from the media limelight, his thoughts on everything from investment to meritocracy have made their way into the public sphere over the years.
Here're some of his best ideas on wealth, happiness and giving back.
•The Singaporean has come to be dubbed a lucky charm because Valencia won five of the six matches he watched, including a 2-1 beating of mighty Real Madrid in January.
•The low-profile billionaire and former "remisier king", who shuns publicity at home and almost never gives interviews, gets rock-star treatment in Valencia.
•Last Oct 25, after his purchase of the ailing 95-year-old club was sealed, the street leading to the stadium's main grandstand was lined with thousands of supporters who twirled their scarves and chanted his name.
•Last week, his first comments to The Straits Times as Valencia owner were widely covered in Spanish dailies, which featured pictures of him and his wife, and mentioned on television and radio.
•His 23-year-old socialite daughter, Kim, is recognised on the streets of Valencia and fans go up to her with photo requests.
•His rags-to-riches story as the fishmonger's son who made good was fascinating, but Valencia players and staff did not know what to expect, given how some billionaire club owners in Europe brandish the axe as soon as they appear.
•German centre-back Shkrodan Mustafi said: "Mr Lim never came over and said, 'You must win La Liga.' He knows what's possible and what's not.
•He didn't come in and sack a lot of people immediately.
•In person, he is really relaxed and he enjoys being a part of this team. As for the players, it is always an honour to have him visit us in the dressing room."
•Mr Ng Ser Miang, head of the International Olympic Committee's finance commission and a Valencia board member, who has known Mr Lim for two decades, said: "Valencia is one of the oldest clubs in Spain. And a Singaporean has put the country on the world football map by owning a piece of European football history.
•"You can see that the fans and the city's people really welcome and respect Peter. That is because of his commitment to Valencia."
•Estimated by Forbes to be worth US$2 billion (S$2.7 billion), Mr Lim turns 62 this year. His home in Singapore is the entire 11-storey Abelia condominium, near Orchard Road.
•He counts as friends Real Madrid star Cristiano Ronaldo, former Manchester United favourite David Beckham, super agent Jorge Mendes, Chelsea manager Jose Mourinho, Formula One champion Lewis Hamilton and United's Class of 92 such as Ryan Giggs, Nicky Butt, Paul Scholes and Neville brothers Gary and Phil.
1. Fortune is 90 per cent hard work, 10 per cent providence
Interestingly, while Lim got where he is today through a mixture of savvy investing and sheer grit, the self-made mogul also believes that his enormous wealth can be attributed in some way to destiny.
"This size - substantially, it's your destiny. If today I have $10 million, I'd say over 90 per cent is due to my hard work. But getting it right is not $1 billion. Maybe it's $100 million. How that $100 million becomes $1 billion, you know it's because somebody likes you. You must believe it's somehow a path that's been drawn."
(Source: The Business Times, AsiaOne News)
2. Accept the good and bad with equanimity
The former 'Remisier King' is fabled for his unflappable, almost casual attitude towards money and investing. When Singapore's stock market nosedived back in 2007, he described the resultant erosion of more than $100 million of his stock's value as merely a "paper loss".
"When you are holding stocks, if it goes up, don't be too happy; when it goes down, don't be too sad. Otherwise, how? Your life will also be fluctuating and you'll die of a heart attack.
If you really lose sleep over it, maybe the best way is to keep the money in the bank."
(Source: Weekender)
What he does lose sleep over, he revealed, are "My kids. Like other parents, I worry about what they're doing and whether they'll pass their exams." It's clear that whatever his accomplishments, being a devoted father unquestionably comes first for Lim.
3. More money, more problems
The twice-married Lim, who divorced ex-wife of 12 years Venus Tan in the 1990s, believes that his astronomical wealth created more trouble in his personal life. The divorce was reportedly a messy one, involving a high-profile settlement of S$50 million and prolonged entanglements about Lim's alleged hiding of assets.
"Money is a funny thing. When you don't have it, you want it. But when you have it, you have a lot of problems. I believe that if I'd had no money, I wouldn't have had my divorce. Things wouldn't be good, but it wouldn't end up in a divorce."
(Source: The Business Times, AsiaOne News)
4. After a point, money doesn't translate to a better life
Despite the luxurious lifestyle he now has the means to lead - the tycoon lives with his wife and mother in an entire 11-storey condominium at Ardmore Park - Lim emphasises that there comes a point when extra wealth is meaningless.
"It's no different from what it was before I had the money. It makes no difference after a point. Like what they say, you can only talk louder. You can only eat so much and fly so many trips.
Money lets you enjoy a lot of things, but I don't think I'll die without money.
I don't think I'm eating a lot better than when I was a lot poorer than now. I don't really go for very special kinds of food. I'm still very local. I like my mee siam, mee rebus and lontong."
(Source: The New Paper, heshenchow.blogspot.sg)
5. Opposites do attract
When asked why he fell in love with his current wife, ex-actress Cherie Lim, the wealthy magnate had this to say:
"I came from the side of life that was very commercial, very money oriented. She comes from an artistic, more simple way of life. To put it bluntly, it was the difference of the rich and the poor."
(Source: The New Paper, heshenchow.blogspot.sg)
It's clear that despite his rumoured stable of Ferraris, Lamborghinis and Porsches, and the prominent string of buyovers, including Thomson Medical Group and McLaren Automative, to his name, the self-professed "son of a fishmonger" remains attracted to a simple life at heart.
6. Those who succeed must pass it on
Born and bred in Singapore, and bolstered by the opportunities afforded to him by our meritocratic system, Lim has made it one of his life missions to give back.
Some of the ways the local philanthropist has supported needy students so far include pledging a six-figure sum to the mini rugby academy of his alma mater, Raffles Institution, and committing to fund scholarships and financial aid at four Singapore schools.
His dedication to giving others the opportunities he had is encapsulated by this statement he made in 2007:
"I think it's very likely (that) a big part of my wealth will be directed towards education. It will be either a straight donation towards assisting educational institutions or maybe I'll set up a foundation.
Education must be cheap and accessible to anyone. For me, I was the son of a fishmonger, but I could still go to the best school. I had the opportunity to make money. There's no discrimination. I think this policy of meritocracy actually works. It's very fair and nobody can complain."
(Source: The New Paper, heshenchow.blogspot.sg)
7. Take risks (but protect yourself)
Much of Lim's wealth was the product of an unlikely venture. His single investment of US$10 million in Wilmar, an Indonesian palm oil startup, seemed far from promising in the late 90s, when Indonesia was facing political and social unrest.
At the time, the currency fell from 2,500 to 16,000 rupiah against the US dollar. But against all odds, Wilmar began to pick up the pieces and Lim's faith in the company paid off - in 2010, he cashed out his shares for US$1.5 billion.
"My Indonesian partner was asking me the other day: 'How the hell did we make so much money?'
Up to a point after people tell you a story and a vision, don't write it off. Sometimes it comes true. You just make sure that if it doesn't come true, you don't get hurt too much."
(Source: The Business Times, AsiaOne News)
8. On growing old and mortality
All things considered, the 62-year-old Lim has lived a fruitful and well-spent life, and it's evident that he's achieved a more philosophical outlook on living. Asked for his thoughts on ageing and death, he remarked:
"Once you are old, every year makes a lot of difference. Your lease gets shorter, there's no extension. You go, you go. Some of my school mates have passed away. So once you start to see all these things, your perspective on life becomes more measured, more considered."
(Source: The Business Times, AsiaOne News)
Thursday, June 4, 2015
Peter Lim invests in TheEdgeProperty.com
By The Edge Property / The Edge Property | June 4, 2015 3:00 PM MYT
Singapore, 4 June 2015 - Peter Lim, the Singaporean billionaire owner of Valencia and investor extraordinaire, has taken a 20 percent interest in the new property portal of Tong Kooi Ong, TheEdgeProperty.com, for an undisclosed consideration.
Tong is the owner of The Edge Media Group, publisher of The Edge Singapore, The Edge Malaysia, The Edge Review, The Edge Financial Daily and theedgemarkets.com.
This represents Peter Lim’s first foray into the technology sector. His major investments besides the football club Valencia include Thompson Hospital, FJ Benjamin, and McLaren.
“This unique internet technology enables and helps existing shareholders strengthen their business”, says Mr Lim. “The business model is not disruptive and it is aligned to the interests of the property agents, developers, banks, and public users. Growth prospects are good because it’s very scalable and revenue generation is immediate. The fundamental strength in Tong’s TheEdgeProperty.com is it wins by enabling existing stakeholders to win.”
Tong’s experience is the driving force behind this unique business model. Starting out as a financial analyst, he built a successful universal bank in the 1990s. A pioneering technopreneur, Tong was the first to introduce an integrated online, mobile, equity trading, and e-commerce banking platform in the 1990s. As a property developer, He led Phileo Land in the 1990s and then Sunrise Berhad in the 2000s with much success.
Theedgeproperty.com – the way of the future
TheEdgeProperty.com will have its official launch event in Singapore on 25 July 2015, after having made a successful debut in Malaysia on 7 May 2015. Currently, the site is live.
There are no comparable property platforms around in terms of comprehensiveness. Besides listings, it has a full range of analytical tools including indicative valuations, past transactions, rental rates, trends, hotspots and new project launches.
As identified by Mr Lim, the fully-inclusive property platform’s objective is to assist all the industry players: from the public buyers and sellers, to the developers, banks, and other service providers. It has partnered ten of the top developers in Malaysia and discussions are in progress in Singapore.
Offering mortgages within the platform will be a central feature, where the full experience of buying a property: from searching for listings, to contacting the right agents, to finding the right locations and price, to evaluating comparable properties that are available and transacted, to what price to make an offer and securing a mortgage - is seamlessly and conveniently integrated.
For the first time, property buyers, sellers and renters will have all the information that is required in making a better decision, for free.
And if none of the existing listings meet their complete criteria, whether it’s the product, location or the price they are prepared to pay, simply use the property watch list and they will be informed once a new listing that meets their criteria becomes available. This way, they will not miss the deal they are looking for.
Singapore, 4 June 2015 - Peter Lim, the Singaporean billionaire owner of Valencia and investor extraordinaire, has taken a 20 percent interest in the new property portal of Tong Kooi Ong, TheEdgeProperty.com, for an undisclosed consideration.
Tong is the owner of The Edge Media Group, publisher of The Edge Singapore, The Edge Malaysia, The Edge Review, The Edge Financial Daily and theedgemarkets.com.
This represents Peter Lim’s first foray into the technology sector. His major investments besides the football club Valencia include Thompson Hospital, FJ Benjamin, and McLaren.
“This unique internet technology enables and helps existing shareholders strengthen their business”, says Mr Lim. “The business model is not disruptive and it is aligned to the interests of the property agents, developers, banks, and public users. Growth prospects are good because it’s very scalable and revenue generation is immediate. The fundamental strength in Tong’s TheEdgeProperty.com is it wins by enabling existing stakeholders to win.”
Tong’s experience is the driving force behind this unique business model. Starting out as a financial analyst, he built a successful universal bank in the 1990s. A pioneering technopreneur, Tong was the first to introduce an integrated online, mobile, equity trading, and e-commerce banking platform in the 1990s. As a property developer, He led Phileo Land in the 1990s and then Sunrise Berhad in the 2000s with much success.
Theedgeproperty.com – the way of the future
TheEdgeProperty.com will have its official launch event in Singapore on 25 July 2015, after having made a successful debut in Malaysia on 7 May 2015. Currently, the site is live.
There are no comparable property platforms around in terms of comprehensiveness. Besides listings, it has a full range of analytical tools including indicative valuations, past transactions, rental rates, trends, hotspots and new project launches.
As identified by Mr Lim, the fully-inclusive property platform’s objective is to assist all the industry players: from the public buyers and sellers, to the developers, banks, and other service providers. It has partnered ten of the top developers in Malaysia and discussions are in progress in Singapore.
Offering mortgages within the platform will be a central feature, where the full experience of buying a property: from searching for listings, to contacting the right agents, to finding the right locations and price, to evaluating comparable properties that are available and transacted, to what price to make an offer and securing a mortgage - is seamlessly and conveniently integrated.
For the first time, property buyers, sellers and renters will have all the information that is required in making a better decision, for free.
And if none of the existing listings meet their complete criteria, whether it’s the product, location or the price they are prepared to pay, simply use the property watch list and they will be informed once a new listing that meets their criteria becomes available. This way, they will not miss the deal they are looking for.
Friday, April 3, 2015
Rowsley calls off mega development project in Myanmar
SINGAPORE (April 3): Rowsley, Singapore billionnaire Peter Lim's listed property group, has called off plans to invest US$275 million ($374 million) in a mega mixed development in Myanmar.
Under a proposed agreement with Hoang Anh Gia Lai Joint Stock Co (HAGL) announced in February, Rowsley would take a 50% stake in a firm that owns HAGL Myanmar Centre, a US$550-million project in Yangon being developed by HAGL.
The proposed joint venture will no longer proceed as both sides could not agree on the details of the investment structure, Rowsley said in a regulatory filing today.
"The company will not enter into the proposed joint venture as the conditions precedent under the heads of terms agreement have not been satisfied," it said, adding that it will continue to explore other investment and development opportunities.
Spread over more than 73,000 sq m of land, HAGL Myanmar Centre will comprise four office blocks, a five-star hotel, a mall, serviced apartments and residential units.
The property, which will have a gross floor area of 640,000 sq m, will open in phases from end-2015.
Rowsley, an architecture and property development firm, has been raising funds and going on road shows to prepare for its foray into Myanmar.
Last week, it issued $100-million, 6.5% three-year notes, marking its first stab at raising funds from bond investors since its transformation from an investment holding firm with no operating assets into a real estate company.
The paper is part of a $500-million multi-currency medium-term note programme set up last November.
Under a proposed agreement with Hoang Anh Gia Lai Joint Stock Co (HAGL) announced in February, Rowsley would take a 50% stake in a firm that owns HAGL Myanmar Centre, a US$550-million project in Yangon being developed by HAGL.
The proposed joint venture will no longer proceed as both sides could not agree on the details of the investment structure, Rowsley said in a regulatory filing today.
"The company will not enter into the proposed joint venture as the conditions precedent under the heads of terms agreement have not been satisfied," it said, adding that it will continue to explore other investment and development opportunities.
Spread over more than 73,000 sq m of land, HAGL Myanmar Centre will comprise four office blocks, a five-star hotel, a mall, serviced apartments and residential units.
The property, which will have a gross floor area of 640,000 sq m, will open in phases from end-2015.
Rowsley, an architecture and property development firm, has been raising funds and going on road shows to prepare for its foray into Myanmar.
Last week, it issued $100-million, 6.5% three-year notes, marking its first stab at raising funds from bond investors since its transformation from an investment holding firm with no operating assets into a real estate company.
The paper is part of a $500-million multi-currency medium-term note programme set up last November.
Thursday, February 12, 2015
Rowsley to invest US$275m in Myanmar development
POSTED: 12 Feb 2015
ChannelNewsAsia
SINGAPORE: Rowsley, a real estate, architectural and engineering consultancy firm part-owned by Singapore billionaire Peter Lim, is making its foray in Myanmar by investing US$275 million (S$274.5 million) in a property project in Yangon.
Under a heads of terms agreement signed on Thursday (Feb 12), Rowsley will take a 50 per cent stake in a company that wholly owns HAGL Myanmar Centre - one of the country's largest integrated projects with four office blocks, a five-star hotel, a retail mall, serviced apartments and residential apartments.
"Yangon currently faces a severe shortage of top-grade office space, hotels and modern malls. The first phase of HAGL Myanmar Centre will be operational in 2015 and will immediately address the acute shortage of real estate in all these asset classes,” Rowsley Chief Executive Officer Lock Wai Han said in a statement.
Rowsley's partner in the project is Vietnam's Hoang Anh Gia Lai Joint Stock Company (HAGL), which will undertake the construction of the entire project.
Spread over more than 73,000 square metres of land located in a prime neighbourhood next to Inya Lake in Yangon, HAGL Myanmar Centre has a land lease term of 50 years and option for another 10+10 years, with the project valued at US$550 million when completed.
Myanmar has seen strong economic growth in recent years. The International Monetary Fund, however, warned earlier this week that the country's economy is set to grow at a slower pace of 7.8 per cent in the fiscal year ending Mar 31 due to a slowdown in agriculture.
- CNA/ek
ChannelNewsAsia
SINGAPORE: Rowsley, a real estate, architectural and engineering consultancy firm part-owned by Singapore billionaire Peter Lim, is making its foray in Myanmar by investing US$275 million (S$274.5 million) in a property project in Yangon.
Under a heads of terms agreement signed on Thursday (Feb 12), Rowsley will take a 50 per cent stake in a company that wholly owns HAGL Myanmar Centre - one of the country's largest integrated projects with four office blocks, a five-star hotel, a retail mall, serviced apartments and residential apartments.
"Yangon currently faces a severe shortage of top-grade office space, hotels and modern malls. The first phase of HAGL Myanmar Centre will be operational in 2015 and will immediately address the acute shortage of real estate in all these asset classes,” Rowsley Chief Executive Officer Lock Wai Han said in a statement.
Rowsley's partner in the project is Vietnam's Hoang Anh Gia Lai Joint Stock Company (HAGL), which will undertake the construction of the entire project.
Spread over more than 73,000 square metres of land located in a prime neighbourhood next to Inya Lake in Yangon, HAGL Myanmar Centre has a land lease term of 50 years and option for another 10+10 years, with the project valued at US$550 million when completed.
Myanmar has seen strong economic growth in recent years. The International Monetary Fund, however, warned earlier this week that the country's economy is set to grow at a slower pace of 7.8 per cent in the fiscal year ending Mar 31 due to a slowdown in agriculture.
- CNA/ek
Monday, February 9, 2015
TMC Life Sciences to acquire Thomson Medical Hub in JB for RM400m
Posted on 9 February 2015 - 05:40am
sunbiz@thesundaily.com
PETALING JAYA: TMC Life Sciences Bhd, a healthcare operator and investment holding company controlled by businessman Peter Lim, has entered into a RM400 million related party deal to acquire Thomson Iskandar, a medical hub project located on 1.6ha of freehold land in Johor Bahru.
TMC has entered into an agreement with Best Blend Sdn Bhd, also partly owned by Lim, to acquire the entire issued and paid up share capital of BB Waterfront Sdn Bhd (BBWF), which is the owner of Thomson Iskandar.
The purchase consideration shall be settled by the issuance of 533.33 million new TMC shares at an issue price of RM0.75 per share, together with 266.66 million free warrants.
Best Blend is beneficially owned 70% by Lim and 30% by the Crown prince of Johor, Tunku Ismail Idris.
The company is also proposing to reward existing shareholders with a proposed bonus Issue of warrants entailing the issuance of 599,760,718 warrants on the basis of one warrant for every two TMC shares held.
The bonus warrants are subject to the completion of the share sale and purchase.
Both the consideration warrants and bonus warrants have an exercise price of 75 sen per warrant and an exercise period of four years.The deal is subject to shareholders and regulatory approvals.
The Thomson Iskandar medical hub is located at the Stulang Laut area, which is within 1km radius of the Malaysian CIQ complex located at the Causeway linking Singapore to Johor Bahru.
BB Waterfront has obtained zoning approval from the Ministry of Health Malaysia on July 7, 2014 and Dec 16, 2014 fora purpose built private hospital for the provision of multi-disciplinary healthcare services and an approval-in -principle for it to build and operate a 272-beds hospital. The proposed medical hub entails an integrated development into a medical hub that comprises a 500 beds hospital, 400 medical suites and retail mall (to facilitate and provide ancillary services to the operation of hospital and medical suites with an estimated gross development value of RM1.2 billion and a gross development cost of RM900 million.
As at last Friday, BB Waterfront has commissioned some preliminary works on the development which includes architectural, civil and structural engineering and mechanical and electrical engineering design and is expected to commence construction by end 2015. Hospital operations is expected to begin by late 2018.
The medical hub will contain a hospital named Iskandariah Hospital.
The medical hub will be managed by Thomson International, a subsidiary of Singapore private hospital owner and operator, Thomson Medical Pte Ltd.
"This transaction is timely as it allows the group to tap into the strong demand for quality and affordable healthcare in the Iskandar Region as well as the medical tourism from Singapore and the region. This acquisition will elevate TMC to the next level, " TMC chairman Datuk Khalid Abdul Kadir said.
Both Thomson Iskandar in Johor Bahru and the integrated healthcare campus at Tropicana Medical Centre in the Klang Valley once ready will see the group own and operate some 1,000 hospital beds.
sunbiz@thesundaily.com
PETALING JAYA: TMC Life Sciences Bhd, a healthcare operator and investment holding company controlled by businessman Peter Lim, has entered into a RM400 million related party deal to acquire Thomson Iskandar, a medical hub project located on 1.6ha of freehold land in Johor Bahru.
TMC has entered into an agreement with Best Blend Sdn Bhd, also partly owned by Lim, to acquire the entire issued and paid up share capital of BB Waterfront Sdn Bhd (BBWF), which is the owner of Thomson Iskandar.
The purchase consideration shall be settled by the issuance of 533.33 million new TMC shares at an issue price of RM0.75 per share, together with 266.66 million free warrants.
Best Blend is beneficially owned 70% by Lim and 30% by the Crown prince of Johor, Tunku Ismail Idris.
The company is also proposing to reward existing shareholders with a proposed bonus Issue of warrants entailing the issuance of 599,760,718 warrants on the basis of one warrant for every two TMC shares held.
The bonus warrants are subject to the completion of the share sale and purchase.
Both the consideration warrants and bonus warrants have an exercise price of 75 sen per warrant and an exercise period of four years.The deal is subject to shareholders and regulatory approvals.
The Thomson Iskandar medical hub is located at the Stulang Laut area, which is within 1km radius of the Malaysian CIQ complex located at the Causeway linking Singapore to Johor Bahru.
BB Waterfront has obtained zoning approval from the Ministry of Health Malaysia on July 7, 2014 and Dec 16, 2014 fora purpose built private hospital for the provision of multi-disciplinary healthcare services and an approval-in -principle for it to build and operate a 272-beds hospital. The proposed medical hub entails an integrated development into a medical hub that comprises a 500 beds hospital, 400 medical suites and retail mall (to facilitate and provide ancillary services to the operation of hospital and medical suites with an estimated gross development value of RM1.2 billion and a gross development cost of RM900 million.
As at last Friday, BB Waterfront has commissioned some preliminary works on the development which includes architectural, civil and structural engineering and mechanical and electrical engineering design and is expected to commence construction by end 2015. Hospital operations is expected to begin by late 2018.
The medical hub will contain a hospital named Iskandariah Hospital.
The medical hub will be managed by Thomson International, a subsidiary of Singapore private hospital owner and operator, Thomson Medical Pte Ltd.
"This transaction is timely as it allows the group to tap into the strong demand for quality and affordable healthcare in the Iskandar Region as well as the medical tourism from Singapore and the region. This acquisition will elevate TMC to the next level, " TMC chairman Datuk Khalid Abdul Kadir said.
Both Thomson Iskandar in Johor Bahru and the integrated healthcare campus at Tropicana Medical Centre in the Klang Valley once ready will see the group own and operate some 1,000 hospital beds.
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