tag:blogger.com,1999:blog-89679251009505509602024-03-14T16:09:36.957+08:00Remisier KingPETER LIM'S INVESTMENT AND TRADING IDEAS - AN UNOFFICIAL TRACKING WEBSITEUnknownnoreply@blogger.comBlogger61125tag:blogger.com,1999:blog-8967925100950550960.post-87589842331368968372022-02-24T18:35:00.000+08:002022-02-24T18:35:29.383+08:00Billionaire Peter Lim to set up top British school Wellington College in Singapore<div><div>FEBRUARY 23, 2022</div><div><br /></div><div>By AMELIA TENG</div><div>THE STRAITS TIMES</div><div><br /></div><div><br /></div><div>SINGAPORE - Top British public school Wellington College will be setting up a school in Singapore in a few years' time, backed by Singaporean billionaire Peter Lim.</div><div><br /></div><div>The school, which will cater to students from the ages of three to 18, will join a network of campuses in other countries belonging to Wellington College International (WCI), the overseas arm of the school.</div><div><br /></div><div>WCI Regional Management, Mr Lim's company, announced on Wednesday (Feb 23) that it has signed a master licence agreement to set up three WCI schools in Singapore, Indonesia and Malaysia.</div><div><br /></div><div>The target is to open at least one of the campuses by 2025, subject to regulatory approvals from the authorities.</div><div><br /></div><div>Fees will be similar to those charged by high-end international schools — hovering around $30,000 a year or more.</div><div><br /></div><div>The plan is to take in up to 2,000 students in each school, which will offer early years, preparatory and senior school programmes following the national curriculum in Britain and culminate in the International Baccalaureate (IB) diploma.</div><div><br /></div><div>These schools will join the current 5,000 students in the WCI family of schools in China and Thailand, and another in India opening in 2023.</div><div><br /></div><div>In a statement, WCI said the upcoming schools will meet rising demand by expatriates and local families who seek quality education for their children without having to send them thousands of miles away from home.</div><div><br /></div><div>Wellington College was founded in 1853 as a memorial to the first Duke of Wellington, one of the commanders who led and ended the Napoleonic Wars.</div><div><br /></div><div>The school in Britain occupies 162ha of land in a small town, Crowthorne, about an hour's drive from London.</div><div><br /></div><div>It is one of the top 10 schools in Britain for its IB diploma results, and is also renowned for its achievements in the performing arts and sports, including hockey and rugby.</div><div><br /></div><div>Notable alumni include novelist George Orwell, actor Christopher Lee, architect Nicholas Grimshaw and Formula 1 champion James Hunt.</div><div><br /></div><div>Commenting on its latest partnership, which was inked in January, Mr Lim said: "We are delighted to partner Wellington College to offer expatriates and parents in Asia the opportunity to provide the very best of British education to their children at campuses in Southeast Asia.</div><div><br /></div><div>"Wellington College is an ideal choice. We believe the Wellingtonian values of courage, respect, integrity, kindness and responsibility are well suited for Asia. It is vital that we equip our youth with skills that extend beyond the classroom to help them reach their full potential and prepare them for the future."</div><div><br /></div><div>WCI's international director Scott Bryan said: "We are thrilled to team up with Peter Lim to launch a network of outstanding schools in Singapore, Indonesia and Malaysia. The region is growing fast, spurring demand for international schools like Wellington that offer well-rounded academic experiences and unrivalled opportunities."</div><div><br /></div><div>Speaking to The Straits Times, Mr Bryan said that Wellington College is heavily involved in the setting up of its international schools, including designing curricula and appointing senior leadership, to ensure the quality of education delivered is up to par with the parent school.</div><div><br /></div><div>Representatives from the British school will be on the schools' boards of governors and annual inspections will be conducted.</div><div><br /></div><div>Said Mr Bryan: "It's not just having the Wellington name across the door. The schools will have continued support, involvement and visits from Wellington staff and help to appoint teachers."</div><div><br /></div><div>He added that students will also have the chance to interact with peers overseas, and perhaps have exchange stints. Teachers likewise will also have the opportunity to work across schools in sharing best practices.</div><div><br /></div><div>Ms Wong Li Lin, the spokesman for WCI Regional Management, said: "The international school area is a new area for us. What's critical in all our investments and endeavours is youth development… and in a way this is also a part of that.</div><div><br /></div><div>"Mr Lim has always believed in education opening up a lot of opportunities for the young. This will be a passion project and international school education is an exciting growth market particularly in this part of the world."</div><div><br /></div><div>Despite border restrictions brought on by the Covid-19 pandemic, international school enrolment in Singapore has not been majorly affected and premium schools continue to draw interest.</div><div><br /></div><div>When it opens, Wellington will join the ranks of several prestigious international schools in Singapore, like United World College of Southeast Asia and Dulwich College (Singapore).</div><div><br /></div><div>Singapore has about 30 international schools catering largely to the expatriate community. Previously reported figures show that there are about 40,000 students in these schools.</div></div><div><br /></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8967925100950550960.post-18407439044359362672019-07-03T15:27:00.000+08:002019-07-04T15:29:36.850+08:00Tycoon pledges another $10M for sports scholarship<b>Tycoon Peter Lim pledges another $10M for his sports scholarship, $20M for new community project</b><br />
<br />
Chia Han Keong<br />
Editor<br />
Yahoo News Singapore<br />
3 July 2019<br />
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SINGAPORE — Singaporean billionaire Peter Lim has pledged another $10 million to continue the Singapore Olympic Foundation (SOF)-Peter Lim Scholarship for student athletes, which he started back in 2010.<br />
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This new investment adds to the original $10 million he pledged when he inaugurated the scholarship, a donation that made him the largest individual donor to a sports scholarship in Singapore. It will also extend the scholarship’s support for another 10 years, from 2021 to 2030.<br />
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The 66-year-old tycoon – who also owns Spanish La Liga club Valencia – is also set to donate a separate $20 million to start a new community project focused on helping children from less-privileged backgrounds reach their potential. Details of the project will be announced in the near future.<br />
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<b>Donations announced by DPM Heng</b><br />
The two major donations were announced by Deputy Prime Minister Heng Swee Keat during his speech at the SOF-Peter Lim Scholarship award ceremony at Temasek Polytechnic on Wednesday (3 July).<br />
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“Mr Lim’s continued generosity will enable the foundation and other stakeholders to support more young aspiring athletes and fund new programmes,” said Heng.<br />
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“More importantly, Mr Lim’s donation is a vote of confidence and belief in our young athletes. I hope that Mr Lim’s generosity can encourage and inspire others in the community to step forward in various ways to support our Team Singapore athletes and the development of sports in Singapore.”<br />
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For his contributions, Lim was awarded on Wednesday the International Olympic Committee Trophy, which was jointly handed to him by DPM Heng, SOF chairman Ng Ser Miang and Tan Chuan-Jin, Singapore National Olympic Council president and Speaker of Parliament.<br />
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Australia’s four-time Olympic swimming champion Libby Trickett was also in attendance as a special guest and gave a short talk on how she overcame obstacles such as depression to emerge triumphant at the highest level.<br />
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<b>2,642 scholarships given out so far</b><br />
This is the ninth year in which the SOF-Peter Lim Scholarship has been handed out. Since its inception, 2,642 scholarships worth $7.2 million have been disbursed in four categories: Primary ($1,000), Secondary ($2,000), Tertiary ($3,000) and High Performance Under-18 ($5,000).<br />
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Some of the former recipients who went on to earn international honours for Singapore include Joseph Schooling (swimming), Amita Berthier (fencing), Shanti Pereira (athletics) and Martina Veloso (shooting).<br />
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There were 280 student-athletes from 44 sports who received the scholarships this year – totalling $781,000 in cash awarded – with a record 53 athletes in the High Performance U-18 category.<br />
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They included silat world champion Muhammad Hazim Mohd Yusli, Youth Olympic Games swimmer Christie Chue, and Mas Ridzwan Mohamad Ali, the first cyclist to receive the High Performance U-18 award.<br />
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<b>Scholarships help in many ways</b><br />
Rhythmic gymnast Avryl Tan, 18, was the only recipient of the top scholarship in her sport this year. The Ngee Ann Polytechnic student told Yahoo News Singapore that the scholarship will help defray costs of her apparatus, costumes and participation in overseas competitions.<br />
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“I need to constantly change my apparatus in order for it to be in good condition. Also, my costumes can be quite costly, as they have to be tailor-made in China. So the scholarship will give me a little peace of mind as I prepare for the upcoming SEA Games,” said the six-time scholarship recipient.<br />
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For brothers Jireh, 7, and Jonathan Dillon, 10, it was the first and second time respectively that the young wrestlers received the scholarships. According to their mother Jin, the scholarships will help pay for their overseas training camps and training attire.<br />
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“Wrestling is very fun. We get to learn new moves and play fun games in every training. I feel very fortunate to get this scholarship for a second time,” said Jonathan.Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8967925100950550960.post-46558898854954040922018-09-18T14:10:00.000+08:002018-09-26T14:12:44.091+08:00Singapore’s Home-Grown Billionaire Investor Has 4 Strategies That Everyone Can FollowSudhan P.<br />
September 18, 2018<br />
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Peter Lim, who is among the wealthiest people in Singapore, is a self-made billionaire who made his riches through investments in Wilmar International Limited (SGX: F34), properties, healthcare businesses and sports.<br />
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According to Forbes Singapore’s 50 Richest list, Lim had a net worth of S$2.5 billion (as of 25 July 2018), having cashed out on Wilmar eight years ago.<br />
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In 2007, the billionaire gave two separate interviews to The Business Times and The New Paper. From those interviews, I picked out some interesting pointers that investors should keep in mind when it comes to investing in stocks.<br />
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Keep emotions in check<br />
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The stock market can be extremely volatile.<br />
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For instance, last Friday, Singapore’s Straits Times Index (SGX: ^STI) rose around 30 points. Yesterday, the index was down 20 points, erasing much of the gains made last Friday. The same goes for stocks we own. One day, our shares may be down 1%, and the next day, they can rise 2%. We should neither be sad nor happy when such things happen, according to Lim:<br />
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“I used to say to my friends, ‘When you are holding stocks, if it goes up, don’t be too happy; when it goes down, don’t be too sad’.<br />
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‘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.’”<br />
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An excellent way to keep emotions out of investing is to write down the reasons for buying a stock. If the fundamentals of the company have not changed, but the stock price is coming down for reasons not related to the business, it could be an opportunity to buy more of the company.<br />
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Lim also does not track the daily ups and downs of the stocks that he owns. Such “inaction” can also help us shift our focus to the business — and not the stock price.<br />
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Assess the management<br />
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Lim likes to look at the person running the company when investing. To assess the management of a firm, one has to look at whether the person is honest, and if he or she is an expert in their trade. Lim commented:<br />
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“It works. It’s a tested method of assessing companies.”<br />
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Warren Buffett, one of the world’s best investors, also likes to access the management of a company before investing in it. The Oracle of Omaha favours company leaders who are honest and competent.<br />
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Ride the trend<br />
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Lim’s secret to successful investing is “prospect” – he takes a top-down approach and invests in sectors if they have good prospects. He mentioned:<br />
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“Like if I think solar is good, I go into solar; if I think palm oil is good, then palm oil.<br />
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Share prices go up because the sector grows. So if I think this sector is going to be good in the next 10 years, then I’ll just invest in it.”<br />
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It is much easier to ride the wave than go against it.<br />
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Have patience<br />
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A key ingredient to Lim’s success is patience. He does not like to trade – which is to buy one day and sell the next to lock in profits. He said that “people who get rich are those who buy a company, build it, run it”.<br />
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In The New Paper interview, he had advice for young investors (which could also apply to all):<br />
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“You have to invest with a longer-term mindset. You buy a good stock, leave it there for 10 years. Come 10 years, this dollar can be many, many multiples.<br />
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I think the trick is really to think long-term.<br />
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You may not have a lot of money, but you have a lot of time.<br />
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The minimum length of my investments are five to six years, if not 10 to 12 years.”<br />
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It takes time for businesses to grow; they certainly do not flourish overnight. Warren Buffett once remarked that we should only buy something that we would be perfectly happy to hold if the stock market was shut down for the next 10 years.<br />
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The Foolish takeaway<br />
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Peter Lim made his wealth through patient, long-term investing. He did not worry about the short-term fluctuations of the stock market. In fact, a week before the interview with The New Paper, Singapore’s stock market took a sharp dive, wiping out more than $100 million of his stock’s value. However, Lim was unruffled. Having been through many crashes and financial crises, he knew that things would turn out fine after all, and it did.<br />
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During our investing journey, we, too, would be hit by many stock market ups and downs. However, if we focus on the right things, we would do just fine as well.<br />
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Link:<br />
<div>
<a href="https://www.fool.sg/2018/09/18/singapores-home-grown-billionaire-investor-has-4-strategies-that-everyone-can-follow/">https://www.fool.sg/2018/09/18/singapores-home-grown-billionaire-investor-has-4-strategies-that-everyone-can-follow/</a></div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8967925100950550960.post-74570521324247637982017-12-19T11:02:00.001+08:002017-12-19T11:02:23.375+08:00Rowsley to buy Thomson Medical businesses for $1.6bBy Marissa Lee<br />
Published 19.12.2017<br />
The Straits Times<br />
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Billionaire Peter Lim is injecting the privately held Thomson Medical Group and other healthcare assets into the Singapore-listed real estate firm Rowsley for $1.6 billion.<br />
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The deal is expected to be completed in the first quarter of next year. Rowsley will then be renamed Thomson Medical Group to reflect its change in focus to healthcare.<br />
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Rowsley will acquire Thomson Medical, the provider of healthcare services for women and children in Singapore which Mr Lim privatised for around $513 million in 2010.<br />
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It will also acquire a 70.36 per cent stake in Malaysia-listed TMC Life Sciences (TMCLS), which has a market cap of RM1.47 billion (S$485.5 million).<br />
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TMCLS owns the 200-bed Tropicana Medical Centre in Klang Valley, Kuala Lumpur, and plans to add 400 more beds at the end of 2020.<br />
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TMCLS also plans to complete Thomson Iskandar Medical Hub in Rowsley's Vantage Bay Healthcare City in 2021.<br />
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After paying for the purchase by issuing 21.3 billion new shares to Mr Lim at 7.5 cents apiece, Rowsley's market cap would swell to $2.13 billion. That would make Rowsley larger than rival hospital player Raffles Medical Group, which has a market cap of $1.93 billion, Rowsley told a briefing at the Goodwood Park Hotel yesterday.<br />
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Rowsley shares surged 2.5 cents, or 22.52 per cent, to 13.6 cents yesterday after the deal was announced, and was the top active counter with 305.8 million shares changing hands.<br />
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Rowsley announced plans in July to spend up to $1.9 billion to buy Mr Lim's healthcare assets and acquire one or more other medical practices. These other acquisitions did not pan out, it said yesterday.<br />
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After Mr Lim's asset injection, roughly two-thirds of Rowsley's revenue will come from healthcare, said Thomson Medical executive chairman Roy Quek.<br />
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Thomson Medical and Mr Lim's share of TMCLS raked in $199.4 million in revenue in the 12 months to Aug 31, up from $193.3 million in the same period a year earlier.<br />
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These assets generated a net profit of $32.8 million, up from $26.7 million in the year before.<br />
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Rowsley plans to undertake a strategic review of its non-healthcare assets, including real estate, consultancy and hospitality operations, once shareholders approve the deal.<br />
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Healthcare is a hot sector in Singapore as its population ages.<br />
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Dr Beng Teck Liang, chief executive of Catalist-listed clinic operator Singapore Medical Group, welcomed the entrance of a new listed healthcare player in the local market. He told The Straits Times: "It's good because it raises the profile of all healthcare companies, when it's such a large listing.<br />
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"Hopefully we can do a bit more to raise Singapore's profile in the region, so that we can attract more medical tourism. A lot of growth is coming from the region."<br />
<br />Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8967925100950550960.post-66700573521317472132017-07-19T10:35:00.000+08:002017-07-19T10:35:16.975+08:00Singapore's Rowsley to buy healthcare assets for up to S$1.9b19 Jul 2017<br />
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SINGAPORE: Singapore's mainboard-listed Rowsley Ltd on Tuesday (Jul 18) announced plan to expand into the healthcare sector with the signing of a non-binding term sheet to purchase the healthcare assets of its controlling shareholder, Lim Eng Hock, worth about S$1.9 billion (US$1.4 billion).<br />
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Rowsley is a multi-disciplinary real estate company with businesses in design and engineering, real estate development and hospitality.<br />
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A sales and purchase agreement is expected to be completed within two months.<br />
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The proposed acquisition is an all-share deal for a 100 per cent of Thomson Medical Pte Ltd and a 70.36 per cent stake in TMC Life Sciences Bhd (TMCLS), a Bursa Malaysia-listed company.<br />
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Thomson Medical is one of Singapore’s leading providers of healthcare services for women and children while TMCLS is a healthcare company which mainly operates through Tropicana Medical Centre, its flagship hospital.<br />
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The proposed acquisition will be financed through the issuance of new shares at S$0.075 per share.<br />
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“This proposed acquisition is an opportunity for us to acquire controlling stakes in two established healthcare assets in Singapore and Malaysia and be part of an expanding business,” said Rowsley Chairman, Ng Ser Miang in a statement.<br />
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“Healthcare is a big and growing market due to ageing demographics, longer lifespan, major trends to increase birth rates, and growing affluence. This deal will diversify Rowsley’s portfolio as well as strengthen our current businesses. It will also significantly increase Rowsley’s market capitalisation, market profile, and generate investor interest,” said Ng.<br />
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The proposed acquisition will also bring TMCLS's proposed Thomson Iskandar project in Iskandar, Johor, together with Rowsley's investment in Vantage Bay Healthcare City.<br />
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Thomson Iskandar is an integrated development that comprises a 500-bed general hospital, 400 medical suites and a retail mall.<br />
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The hospital will be equipped with state-of-the-art facilities and equipment.<br />
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“We will be able to derive synergy from combining both projects together under one company. Our enlarged company profile will further help us to attract high-quality healthcare players and investors to work with us on our Iskandar healthcare project,” said Ng.<br />
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Upon completion, Rowsley planned to issue bonus warrants to existing shareholders on the basis of two bonus warrants for every one existing share.<br />
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Each bonus warrant will have an exercise price of S$0.09 per share.<br />
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In addition, Rowsley planned to issue additional warrants (piggyback warrants) on the basis of one piggyback warrant for every one bonus warrant that is exercised.<br />
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Each piggyback warrant will have an exercise price of S$0.12 per share.<br />
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“We appreciate the support of our existing shareholders. The proposed issue of warrants is to reward our shareholders for their support of the firm. We will continue as a company to pursue opportunities that we believe provide long-term value to shareholders,” Ng said.<br />
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Upon completion of the deal, Rowsley will become a major healthcare player.<br />
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According to Singapore Exchange Market Watch statistic, healthcare is projected to be the leading sector in total returns to shareholders.<br />
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Singapore has boosted healthcare spending in recent years as its population ages.<br />
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One in four Singaporeans will be aged 65 and above by 2030, and similar demographics in Malaysia point towards an opportunity in primary healthcare and long-term healthcare.<br />
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“We are extremely excited at this opportunity to further transform Rowsley as we continue to build and grow our existing real estate related businesses,” said Ng.<br />
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Source: Bernama/de<br />
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Read more at http://www.channelnewsasia.com/news/business/singapore-s-rowsley-to-buy-healthcare-assets-for-up-to-s-1-9b-9043284Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8967925100950550960.post-64083627488620101762016-09-13T15:18:00.002+08:002016-09-13T15:18:33.763+08:00Thomson Medical eyes S'pore listing in near termBy Claire Huang<br />
Sep 13, 2016<br />
Singapore<br />
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AWAY from the public eye, Thomson Medical Pte Ltd, controlled by Singapore billionaire Peter Lim, has been busy growing its services and is now looking to add more beds to its hospital in Novena as it works towards a local listing in the near future.<br />
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Roy Quek, who took over as chairman of Thomson Medical last November, told The Business Times in an interview that he had aimed for a Singapore listing within 12 to 18 months of helming the business.<br />
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"If we were to do a listing now, we'd probably have a market capitalisation of S$2-3 billion. I think we can do better. We're targeting S$5 billion for a start and trying to grow that."<br />
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Thomson Medical is owned by Mr Lim's Singapore-based holding company Sasteria Pte Ltd, which also controls Thomson affiliates in Malaysia and Indonesia.<br />
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As it prepares to list the holding company, Thomson Medical has been beefing up in Singapore, Malaysia and Indonesia through mergers and acquisitions (M&As), said Mr Quek, who is also executive director and group chief executive of Malaysia-listed TMC Life Sciences Bhd (TMCLS).<br />
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In Singapore, the private healthcare provider wants to ramp up its tertiary hospital with 300 more beds as the 190-bed Thomson Medical Centre (TMC) is at full capacity, even as birth rates here decline.<br />
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This is part of a wider vision of a Singapore healthcare "precinct" - much like a mini replica of Vantage Bay Healthcare City in Iskandar but without the education and research arm. Patients who live in this precinct can access not just the hospital, but also other facilities including rehabilitation and day care centres in one integrated location.<br />
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The company hopes to turn the Singapore precinct into its flagship in the next five years, while concurrently expanding its businesses in Malaysia and Indonesia.<br />
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"If you're somebody with young kids or elderly parents or parents- in-law and you're very concerned with what happens to them when you go to work, this (precinct) basically looks after everybody for you. If you need home care, it's there," said Mr Quek, who added that this model can be planned and executed seamlessly, making it more cost effective and efficient.<br />
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In time to come, primary care and specialist outpatient operations would be housed in centres located islandwide. Patients would then be able to head to these centres for their outpatient needs, top up health foods or go for a sports massage, among other things, he shared.<br />
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"The idea is to build a system that allows us not just to tap the top private sector doctors alone but find ways to have partnerships with the public sector," he said, adding that the company is also keen to work with the government to build hospitals.<br />
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In the near term, Mr Quek wants to integrate up- and downstream operations to provide what he described as "cradle to grave" coverage, where the healthcare provider caters not only to consumers' primary stages of life but also follows them through their adulthood and well into their silver years.<br />
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In line with this, Thomson Medical has branched into the lifestyle and wellness segments to help consumers "maintain their healthy parts as long as possible".<br />
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Also in the pipeline is its plan to go big on telehealth and electronic health services to cater to those who are in good health and mobile.<br />
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All these are signs that Thomson Medical has moved on from troubles of the past after the current management took over in late 2010, at about the same time when the then-listed TMC came under fire after its fertility centre botched an in-vitro fertilisation (IVF) procedure by impregnating a woman in January 2010 with another man's sperm instead of her husband's.<br />
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Following the management change, Thomson Medical has grown beyond its core business of women's and children's health within a span of five years into a multi-disciplinary healthcare provider that comprises 25 specialist outpatient clinics in FY2016, up from 11 in FY2011. These include services such as dermatology, aesthetics, women's cancer and dental care.<br />
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And the efforts to expand have yielded results. Between FY2010 and FY2016, revenues and earnings before interest, taxes, depreciation and amortisation (Ebitda) have doubled.<br />
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Topline grew from the S$50 million-S$100 million range to the current range of S$150 million-S$200 million. The hospital continues to contribute the bulk of the revenue at 57.4 per cent for the financial year as at end-August 2016, followed by the fast-growing specialist segment at 38.9 per cent.<br />
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Across the Causeway, the company is awaiting official approval and hopes to start the development of Vantage Bay by year-end. The RM5 billion (S$1.67 billion) integrated healthcare hub would comprise specialist, community and teaching hospitals, long-term care facilities, a medical school, research and training institutions, purpose-built urban wellness resort, wellness retail services and other associated facilities.<br />
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Further down the road, Thomson Medical is looking to widen its reach to China, India and Australia - ambitions that the Singapore listing would help fund, said Mr Quek.<br />
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For now, his greatest concern is not about a potential listing at a time of economic slowdown and market volatility, although he acknowledged that these could be tricky. Still, he believes investors are receptive to healthcare businesses.<br />
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"My biggest challenge going forward is to ensure our clinical quality and assurance in my team - that's what keeps me up (at night). I certainly believe the doctors are good and we have the right system in place, but with size, you worry."Unknownnoreply@blogger.com1tag:blogger.com,1999:blog-8967925100950550960.post-71833277709814962422015-12-09T11:26:00.001+08:002015-12-09T11:26:30.274+08:00Rowsley, Thomson Medical to develop healthcare mega-cityMarissa Lee<br />The Straits Times<br />Wednesday, Dec 09, 2015<br />
<br />Singapore billionaire Peter Lim's upcoming healthcare mega-city in Iskandar Johor is linking up with another of his firms - Thomson Medical.<br />
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The private healthcare provider inked a memorandum of understanding yesterday with Rowsley, the developer controlled by Mr Lim.<br />
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The deal involves the firms working together to conceptualise, develop and promote the RM5 billion (S$1.7 billion) healthcare city.<br />
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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.<br />
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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.<br />
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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.<br />
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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.<br />
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"With ageing population and rising healthcare costs, Rowsley believes that Vantage Bay Healthcare City is well-placed to address these trends."<br />
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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.<br />
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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.Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8967925100950550960.post-37006832073988947942015-10-02T14:37:00.000+08:002015-10-02T14:37:42.122+08:00Valencia CF to receive €100 million injection from LimBy Adelene Wong<br /><a href="mailto:adelenewong@mediacorp.com.sg">adelenewong@mediacorp.com.sg</a> .<br /><br />Published: 7:37 AM, October 1, 2015<br />
<br />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).<br />
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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.<br />
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“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.<br />
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“With the capitalisation of the €100 million loan, the equity of the club will be strengthened from the current €50 million to €150 million.”<br />
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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.<br />
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“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.<br />
“Two, (it will allow us) to strengthen our balance sheets to protect our assets, and to build a brighter future for the club.<br />
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“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.<br />
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“So that, when we talk to them, we look at them in the eyes.”<br />
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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.<br />
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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.<br />
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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.<br />
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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.<br />
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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.<br />
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“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.<br />
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“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.”<br />
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On Zorio’s allegations, she said: “I don’t know this person, but I heard a lot of stories about this person.<br />
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“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.”Unknownnoreply@blogger.com1tag:blogger.com,1999:blog-8967925100950550960.post-66465334781912743782015-06-30T13:59:00.000+08:002015-07-02T13:59:24.190+08:00Peter Lim buys rights to images of Ronaldo By Shanjayan Muniappan<br />
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shanjayanm@mediacorp.com.sg <br />
Published: 4:17 AM, June 30, 2015<br />
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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.<br />
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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.<br />
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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.<br />
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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.<br />
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“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.<br />
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“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.”<br />
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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.<br />
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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.<br />
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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”.<br />
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“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.<br />
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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.”Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8967925100950550960.post-6328442789595012942015-06-08T15:05:00.000+08:002015-06-16T15:06:35.138+08:008 wise lessons on wealth that Peter Lim can teach us Monday, Jun 08, 2015<br />
Jolene Hee<br />
Vulcan Post<br />
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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.<br />
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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.<br />
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What a long way the self-made billionaire - who made the bulk of his wealth investing in palm oil - has come since then.<br />
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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.<br />
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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.<br />
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Here're some of his best ideas on wealth, happiness and giving back.<br />
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•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.<br />
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•The low-profile billionaire and former "remisier king", who shuns publicity at home and almost never gives interviews, gets rock-star treatment in Valencia.<br />
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•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.<br />
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•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.<br />
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•His 23-year-old socialite daughter, Kim, is recognised on the streets of Valencia and fans go up to her with photo requests.<br />
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•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.<br />
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•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.<br />
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•He didn't come in and sack a lot of people immediately.<br />
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•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."<br />
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•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.<br />
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•"You can see that the fans and the city's people really welcome and respect Peter. That is because of his commitment to Valencia."<br />
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•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.<br />
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•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.<br />
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1. Fortune is 90 per cent hard work, 10 per cent providence<br />
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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.<br />
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"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."<br />
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(Source: The Business Times, AsiaOne News)<br />
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2. Accept the good and bad with equanimity<br />
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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".<br />
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"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.<br />
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If you really lose sleep over it, maybe the best way is to keep the money in the bank."<br />
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(Source: Weekender)<br />
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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.<br />
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3. More money, more problems<br />
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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.<br />
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"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."<br />
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(Source: The Business Times, AsiaOne News)<br />
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4. After a point, money doesn't translate to a better life<br />
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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.<br />
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"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.<br />
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Money lets you enjoy a lot of things, but I don't think I'll die without money.<br />
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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."<br />
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(Source: The New Paper, heshenchow.blogspot.sg)<br />
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5. Opposites do attract<br />
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When asked why he fell in love with his current wife, ex-actress Cherie Lim, the wealthy magnate had this to say:<br />
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"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."<br />
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(Source: The New Paper, heshenchow.blogspot.sg)<br />
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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.<br />
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6. Those who succeed must pass it on<br />
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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.<br />
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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.<br />
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His dedication to giving others the opportunities he had is encapsulated by this statement he made in 2007:<br />
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"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.<br />
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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."<br />
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(Source: The New Paper, heshenchow.blogspot.sg)<br />
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7. Take risks (but protect yourself)<br />
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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.<br />
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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.<br />
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"My Indonesian partner was asking me the other day: 'How the hell did we make so much money?'<br />
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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."<br />
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(Source: The Business Times, AsiaOne News)<br />
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8. On growing old and mortality<br />
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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:<br />
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"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."<br />
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(Source: The Business Times, AsiaOne News)Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8967925100950550960.post-62770845058084084962015-06-04T10:47:00.000+08:002015-06-06T10:48:20.222+08:00Peter Lim invests in TheEdgeProperty.comBy The Edge Property / The Edge Property | June 4, 2015 3:00 PM MYT <br />
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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.<br />
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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.<br />
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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.<br />
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“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.”<br />
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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.<br />
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<b>Theedgeproperty.com – the way of the future</b><br />
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.<br />
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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.<br />
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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.<br />
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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.<br />
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For the first time, property buyers, sellers and renters will have all the information that is required in making a better decision, for free.<br />
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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.<br />
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Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8967925100950550960.post-54467473610960494882015-04-03T13:21:00.000+08:002015-04-07T13:22:20.109+08:00Rowsley calls off mega development project in Myanmar<header><time class="full-format" datetime="2015-04-03T18:33:21">Apr 03, 2015 </time> </header><header><time class="full-format" datetime="2015-04-03T18:33:21"><div class="field field-name-field-author field-type-text field-label-above">
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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.<br />
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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.<br />
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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.<br />
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"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.<br />
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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.<br />
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The property, which will have a gross floor area of 640,000 sq m, will open in phases from end-2015.<br />
Rowsley, an architecture and property development firm, has been raising funds and going on road shows to prepare for its foray into Myanmar.<br />
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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.<br />
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The paper is part of a $500-million multi-currency medium-term note programme set up last November. </div>
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Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8967925100950550960.post-13724840097502785612015-02-12T15:02:00.000+08:002015-02-13T15:03:07.340+08:00Rowsley to invest US$275m in Myanmar developmentPOSTED: 12 Feb 2015 <br />
ChannelNewsAsia<br />
<br />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.<br />
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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.<br />
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"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.<br />
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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.<br />
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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.<br />
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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.<br />
- CNA/ekUnknownnoreply@blogger.com0tag:blogger.com,1999:blog-8967925100950550960.post-87127413814678493372015-02-09T15:20:00.000+08:002015-02-12T15:21:31.682+08:00TMC Life Sciences to acquire Thomson Medical Hub in JB for RM400mPosted on 9 February 2015 - 05:40am <br />
<a href="mailto:sunbiz@thesundaily.com">sunbiz@thesundaily.com</a> <br />
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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.<br />
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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.<br />
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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.<br />
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Best Blend is beneficially owned 70% by Lim and 30% by the Crown prince of Johor, Tunku Ismail Idris.<br />
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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.<br />
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The bonus warrants are subject to the completion of the share sale and purchase.<br />
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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.<br />
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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.<br />
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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. <br />
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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.<br />
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The medical hub will contain a hospital named Iskandariah Hospital.<br />
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The medical hub will be managed by Thomson International, a subsidiary of Singapore private hospital owner and operator, Thomson Medical Pte Ltd.<br />
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"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.<br />
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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.Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8967925100950550960.post-50593948029921301242014-10-28T19:33:00.000+08:002014-11-03T19:34:42.437+08:00Singaporean billionaire Peter Lim gets rousing welcome in ValenciaPublished on Oct 28, 2014<br />
The Straits Times<br />
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By Wang Meng Meng<br />
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Last Saturday, billionaire investor Peter Lim received an extraordinary welcome from the fans of Spanish football club Valencia.<br />
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A YouTube video uploaded by the club shows the billionaire arriving at the Mestalla Stadium last Saturday night for the home game against Elche, which Valencia won 3-1. <br />
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<iframe width="560" height="315" src="//www.youtube.com/embed/C5XU_CQvZJ0" frameborder="0" allowfullscreen></iframe>
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Lim was in the Spanish port city to finalise his ownership of the club.<br />
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Earlier that day, it was confirmed that he had reached an agreement with Bankia - the Spanish bank that held most of the club's €200 million (S$323 million) debt - on the restructuring of the club's finances. That has paved the way for him to buy a 70 per cent stake in Valencia.<br />
<br />
Stepping out of a luxury sedan, Lim was giving a warm handshake and hug by Valencia president Amadeo Salvo. Cameras zoomed in on the masses of fans, who chanted the Singaporean's name feverishly, as if they were welcoming a new star striker.<br />
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Accompanied by his wife, former actress Cherie, Lim posed for photographs and was later escorted to a balcony in the stadium, where he and Salvo waved at the delighted fans below.<br />
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The 61-year-old, estimated to be worth US$2.05 billion (S$2.6 billion) by Forbes Singapore, has bought Valencia for €420 million in total, with €200 million to clear the club's debts and £170 million to complete construction of a new stadium.<br />
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He has also splashed €45 million on two Benfica players - striker Rodrigo Moreno, 22, and midfielder Andre Gomes, 20.<br />
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Without a league title in 10 years and a trophy since the Copa del Rey and Spanish Super Cup in 2008, Valencia were crippled by debt until Lim started buyout talks a year ago.<br />
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Rejuvenated by the hope offered by the Singaporean, Valenncia have surged up to fourth in the 20-team La Liga on 20 points, two points behind leaders Barcelona.<br />
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<br />Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8967925100950550960.post-86381155196446403352014-09-23T13:10:00.000+08:002014-09-23T13:10:33.854+08:00Billionaire enters into partnership with five former players to own Salford City FCPublished: 4:02 AM, September 23,<br />
<br />
LONDON — Billionaire Peter Lim has entered into a partnership with five former Manchester United players and taken a 50 per cent share in Salford City FC, which play in the eighth tier of the English league system.<br />
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This comes as Mr Lim, who is estimated by Forbes magazine to be worth around £1.5 billion (S$3.11 billion), stands poised to complete his purchase of a 50 per cent stake in Spain’s Valencia. The Singaporean was also linked with a move to buy Liverpool in 2010. <br />
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Former Manchester United players Gary and Phil Neville, Ryan Giggs, Paul Scholes and Nicky Butt have equal shares in the other 50 per cent of Salford City, which are top of their division. They took a stake this year with the goal of developing local talent and ultimately taking the club into the Football League.<br />
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In a statement, the five said Mr Lim’s experience would be invaluable as they continue with their unlikely quest to turn Salford, located on the outskirts of Manchester, into a football force. “When we set out upon this journey, we always knew that, at some point, we wanted external partners involved, people who would share our vision for Salford City. Peter’s love of sport, above all football, is well documented,” the statement said.<br />
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“He has an incredible track record in business as well as youth and community engagement, especially at grassroots level. Peter’s experience and knowledge can help take the club to where we believe they can be.”<br />
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The move is awaiting approval by the English Football Association, which should be a formality.<br />
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A spokesperson for Mr Lim told media outlets in the United Kingdom: “Peter met the lads a few months ago and they explained their plans and rationale for Salford City, the academy and the investment in grassroots football. What the lads want to accomplish resonated strongly with Peter, who shares (with them) a common belief in youth development through sports. Peter has a high regard for footballers’ talents and dedication to their sport.<br />
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“He is convinced that the legends’ sporting training has imbued them with values such as humility, discipline and the tenacity to succeed. He hopes these values can be cultivated in the young footballers who will come through Salford City’s programme.<br />
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“The management of the club on a day-to-day basis, as announced in March, will remain the same. This arrangement is important to all concerned.”<br />
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Salford’s chairperson Karen Baird said: “It’s been a great start to the season, we are very excited about the future for the club and what can be achieved.<br />
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“The most important aspect for us is that we continue to bond with our community and city, and we have assurances this will happen.” <br />
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Mr Lim is set to take over Valencia in the coming months and wipe the club’s estimated debt of €200 million (S$326 million), following protracted negotiations with Spanish bank Bankia, Valencia’s main creditor, that began in the middle of May. AGENCIES Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8967925100950550960.post-91236948657121185402014-08-08T10:48:00.000+08:002014-08-13T10:49:26.376+08:00M'sian billionaire Vincent Tan sells TMC shares to S'pore tycoon Peter Lim Published: Friday August 8, 2014 MYT 12:00:00 AM<br />
The Star Online<br />
by daniel khoo<br />
<br />
<br />
PETALING JAYA: Singapore billionaire Peter Lim Eng Hock has acquired an additional 26.6% in TMC Life Sciences Bhd from Tan Sri Vincent Tan Chee Yioun for 48 sen per share, raising his stake in the company to 59.2% and triggering a general offer for the rest of the shares he does not already own in the process.<br />
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Lim, however, intends to maintain the healthcare provider’s listing status on Bursa Malaysia. <br />
Shares in TMC were last traded at 46.5 sen yesterday.<br />
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TMC said in an announcement that its board would hold an emergency meeting to deliberate on the offer and make an announcement in due course.<br />
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The takeover offer was effected after Tan, TMC’s second-biggest shareholder, hived off his stakes held through Berjaya Corp Bhd (BCorp) (11.6%) and Berjaya Land Bhd (BLand) (15%) in TMC for RM102.6mil to Lim via Sasteria (M) Pte Ltd yesterday.<br />
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A block of 160.68 million shares in TMC crossed in an off-market trade yesterday at 48 sen per share in the last minutes of trading just before the market closed for the day.<br />
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Lim had 32.6% in TMC prior to yesterday’s transaction. <br />
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Under Bursa Malaysia’s listing requirements, Lim will have to extend his takeover offer to all minority shareholders in the company at 48 sen a share and eight sen per warrant.<br />
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It has been speculated that the acquisition could be a prelude to Lim eventually parking all his healthcare services assets in Malaysia under one vehicle.<br />
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It is also notable that this transaction with TMC by Lim is reminiscent of what had happened to the-then Singapore-listed Thomson Medical Centre Ltd, which was privatised by him in 2010 in a similar transaction.<br />
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Lim had then also triggered a mandatory conditional offer for Thomson Medical after its largest shareholder and founder, Dr Cheng Wei Chen, sold his entire effective 39.34% stake at S$1.75 (RM4.48) a share in a direct business transaction with Lim.<br />
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Lim is also said to be injecting his planned 200-bed hospital at Iskandar Malaysia’s medical hub into TMC eventually.<br />
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Lim’s keen interest in TMC was first traced back four years ago in 2010 when he emerged with a 29.6% stake after acquiring a stake from TMC’s founder Datuk Dr Colin Lee Soon Soo in direct business trades then.<br />
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He later further raised his stake in the company and by the middle of 2011, held 32.6% in TMC, a stake which he had held on to until before yesterday.<br />
<br />
Meanwhile, BCorp said it would realise an estimated total gain of RM21.64mil from these disposals while BLand, which is also a subsidiary of BCorp, said it would net total gains of RM3.62mil from this share sale to Lim.<br />
<br />
“Currently, the total carrying value of the sale shares is about RM41.99mil or 45 sen per sale share, which has been purchased since January 2008. The disposals have enabled the BCorp Group to realise its investment in TMC,” BCorp said in its announcement.<br />
<br />
Both BCorp and BLand said they would utilise the proceeds for working capital and/or the repayment of borrowings for the company.<br />
<br />
Post-transaction, Tan will still have a residual direct interest of 0.40% and a deemed interest of 1.37% in TMC other than through the BCorp Group.Unknownnoreply@blogger.com2tag:blogger.com,1999:blog-8967925100950550960.post-23094205917787331512014-06-10T13:07:00.003+08:002014-06-10T13:08:20.959+08:00Peter Lim donates S$3m to NTU for peace studies professorshipJune 10, 2014<br />
<br />
SINGAPORE — Fresh off his purchase of Spanish football club Valencia just weeks ago, Mr Peter Lim, a Singaporean billionaire, has donated S$3 million to the Nanyang Technological University (NTU) for a new professorship in peace studies.<br />
<br />SINGAPORE — Fresh off his purchase of Spanish football club Valencia just weeks ago, Mr Peter Lim, a Singaporean billionaire, has donated S$3 million to the Nanyang Technological University (NTU) for a new professorship in peace studies.<br />
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The university announced yesterday that the Peter Lim Professorship in Peace Studies will be based at the S Rajaratnam School of International Studies.<br /><br />NTU said the donation will help fund a top global expert who can lead the development of the school’s peace studies curriculum and research strategies as part of its new Studies in Inter-Religious Relations in Plural Societies (SRP) programme, launched on the same day. The Government will match the gift dollar-for-dollar, bringing the endowment to S$6 million in total.<br />
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Mr Lim was not present at the cheque presentation ceremony, which was witnessed by President Tony Tan, who is also the chancellor of the university.<br />
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An NTU statement quoted Mr Lim as saying that he hoped the endowment will bring Singapore peace and harmony. “We have enjoyed decades of peace because of the harmonious relations among Singapore’s different communities. But the world’s many conflicts remind us that we cannot take this peace for granted. I hope that my donation can bring together distinguished scholars and thought leaders to study how we can be one step closer to protecting and promoting the harmony in our country,” the businessman said. ~CHANNEL NEWSASIAUnknownnoreply@blogger.com1tag:blogger.com,1999:blog-8967925100950550960.post-78139815645153444542014-05-18T15:31:00.000+08:002014-09-04T14:43:07.166+08:005 things about Peter Lim and his new football club ValenciaPublished on May 18, 2014<br />
Straits Times<br />
<br />
Billionaire Peter Lim is the new owner of Spanish side Valencia. Here are some facts about the media-shy Singaporean and the La Liga club.<br />
<br />
Five things you should know about Peter Lim<br />
<br />
1. In 1991, Mr Lim made his fortune when he invested US$10 million (S$12.51 million) in Wilmar International, then a start-up palm oil company owned by tycoon Kuok Khoon Hong, a former client and friend of Mr Lim’s – and the nephew of Malaysian businessman Robert Kuok (he now lives in Hong Kong), one of Asia’s best-known billionaires. Mr Lim’s five per cent stake in Wilmar was worth US$1.4 billion in March according to Forbes. <br />
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2. He put himself through the University of Western Australia, in Perth, by working as a taxi driver, cook and waiter, among other odd jobs, and graduated with a degree in finance and accounting.<br />
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3.Nicknamed the “remisier king", Mr Lim was ranked by Forbes to be the 10th richest man in Singapore last year with a fortune of US$2.05 billion.<br />
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4. Married to former actress Cherie Lim, Mr Lim is a Manchester United fan, owning several Manchester United themed bars across Asia. He tried to buy Liverpool for £300 million (S$631.20 billion) in 2010 but his offer was rejected.<br />
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5. Home to Valencia's new owner is the entire 11 storeys of the Abelia condominium, located near Orchard Road. Mr Lim is also said to own 25 Ferrari cars.<br />
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Five things you should know about Valencia football club<br />
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1. Up until Mr Lim acquired the club, Valencia was the only club outside the duo of Real Madrid and Barcelona to have won the Spanish La Liga since 2001. Former Liverpool manager Rafa Benitez led Valencia to the league title in 2002 and 2004. However, Atletico Madrid on Saturday claimed its first La Liga title in 18 years by drawing 1-1 with title rivals Barcelona.<br />
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2. Due to the financial crisis, work on Valencia's new stadium – the 61,500 Nou Mestalla – stopped in 2009. The stadium has remained untouched since.<br />
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3. To stay afloat, the club had to sell key players like David Villa, David Silva, Jordi Alba, Roberto Soldado and Juan Mata - All Spanish internationals.<br />
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4. Valencia have only spent four years outside of the top flight during their 92 history. Most recently they spent a year in the second division in the 1986-87 season.<br />
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5. They are the third most successful club in Spain, with six La Liga titles and seven Spanish Copa del Rey victories. No prizes guessing who the two most successful are.Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8967925100950550960.post-83167093218703579242014-05-17T15:29:00.000+08:002014-05-19T15:29:52.123+08:00Singapore businessman Peter Lim buys ValenciaPublished on May 17, 2014<br />
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Fans of Valencian Football Club can finally see an end to months of uncertainty: Peter Lim<br />
<br />BARCELONA – Singapore businessman Peter Lim is the new owner of debt-ridden Valencia after buying 70.4 per cent of the shares owned by the club’s foundation, the La Liga side said today (May 17).<br />
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The Valencia Foundation’s patrons voted for Lim’s proposal ahead of other offers from international consortiums offering large cash injections.<br />
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Confirming that Lim has completed the takeover, a club spokesman said that the next task for the new owner will be to agree a deal with creditors Bankia, who are owed €220 million (S$377 million). The club’s total debt is around €360 million.<br />
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Lim said in a statement: “I am very glad to have been selected the winning bidder after a rigorous selection process. Fans of Valencian Football Club can finally see an end to months of uncertainty."<br />
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Lim was the choice of club president Amadeo Salvador who felt that his offer was best suited to turning around the fortunes of the club which failed to qualify for next season’s Champions League and were knocked out of the Europa League earlier this month by eventual winners Sevilla in the semi-finals.<br />
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Said Lim: "Today’s voting which overwhelmingly supported my bid demonstrates a firm commitment from the stakeholders of the process, namely Bankia, Valencia CF, Foundation of Valencia CF and Instituto Valenciano de Finanzas.<br />
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“Under the process, the winner is the bidder with the best sporting, financial and social solutions. I’m pleased that we have won on these three criteria and I'll like to thank the Board of Trustees, the Valencian fans and the city for their strong support over the past few months."<br />
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Valencia are 10th in the 20-team La Liga standings. AGENCIESUnknownnoreply@blogger.com0tag:blogger.com,1999:blog-8967925100950550960.post-50170173625260141102014-03-15T12:44:00.003+08:002015-06-06T10:51:39.481+08:00Peter Lim enters new Johor security venturePublished on Mar 15, 2014 <br />
<br />
Billionaire investor, Johor prince sign MOU to offer services in Iskandar<br />
<br />
By Audrey Kang<br />
<br />
SINGAPORE billionaire investor Peter Lim is stepping up his aggressive push into Iskandar Malaysia with a new agreement to set up a security business.<br />
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A security company owned by Mr Lim is joining hands with a Johor prince to offer security services in the rapidly emerging growth corridor.<br />
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Mr Lim is one of the largest investors in the Iskandar region over the past two years. He and the Johor royal family are substantial shareholders in Rowsley, which is working on a RM10 billion (S$3.9 billion) development in the Johor Baru city centre.<br />
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The Soverus Group, which is 95 per cent owned by Mr Lim, signed a memorandum of understanding with Tunku Abdul Rahman, son of the Sultan of Johor, yesterday. Its chief executive officer, Mr Paul Lim, said: "The security business in all countries is highly regulated. This MOU signifies and cements our belief in the growing market in Iskandar and the rest of Malaysia."<br />
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Working with the prince will be hugely beneficial, he added, given his detailed knowledge of the area.<br />
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Tunku Abdul Rahman said: "I am very impressed with how Soverus has grown so rapidly within the last four years, from a start-up to a major provider of security services with over 600 staff.<br />
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"I look forward to working with Soverus and its manage-ment team to build a credible and imitable full-service security firm in Johor."<br />
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One key reason for the MOU is the rising demand for premium security services in Iskandar, owing to the growing affluence of Johor residents, said Mr Paul Lim.<br />
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Although the company has yet to execute any plans for its expansion in Iskandar, he said potential clients are already seeking its security services.<br />
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Soverus previously focused on providing only guarding services, but has expanded into a wider range of solutions, including private investigations, cyber security and IT forensics.<br />
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Three-quarters of its operations in Iskandar will be guarding services, while the remaining 25 per cent will be focused on mostly security technology and security consultancy.<br />
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Mr Paul Lim said: "Our mid-term plan is to set up a sizeable infrastructure with proper armoury and full-fledged training facilities."<br />
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Officers from Singapore and Malaysia will be able to train with their counterparts in both countries, in order to provide quality guards, he added.<br />
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<a href="mailto:audkang@sph.com.sg">audkang@sph.com.sg</a>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8967925100950550960.post-82616022842037712062014-02-21T12:41:00.000+08:002014-03-15T12:43:44.754+08:00Rowsley reports Net Loss of $5 millionRowsley reports Net Loss of $5 million before goodwill write-down<br />for RSP Acquisition<br />
<br />
RSP meets full year profit target of $25 million<br />
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Rowsley’s Balance Sheet remains debt-free<br />
<br />
Singapore, 21 February 2014 – Rowsley Ltd. today announced a net loss of $5<br />million for the nine months ended 31 December 2013, before the goodwill write-down<br />for the purchase of RSP Architects Planners & Engineers. Rowsley said RSP met its<br />profit target of $25 million for 2013.<br />
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Rowsley, which has transformed itself from an investment holding company into<br />an integrated multi-discipline real estate business, had acquired RSP in September<br />2013 for $187.5 million by issuing 1,250,000,000 shares at $0.15 each. The<br />purchase consideration was remeasured at closing date in accordance with financial<br />reporting standards to $422.5 million at $0.65 cents or $0.338 per share after<br />adjusting for the warrants issued. As a result, $221 million of goodwill had to be<br />written down. This is a non-cash accounting adjustment that does not affect the<br />company’s cash flows or the fundamentals of its business.<br />
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RSP, Singapore’s leading architectural firm, was one of two substantial<br />acquisitions completed last year; the other being a 9.23-hectare piece of land in<br />Johor Bahru’s Iskandar region to build an integrated wellness and lifestyle<br />development called Vantage Bay.<br />
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Rowsley said that its nine months’ results reflected the consolidation of RSP’s<br />4th quarter financials after it became a subsidiary. RSP, it added, has achieved profitafter-<br />tax of $25 million for the full year of 2013 and is on track to meet the targets set<br />by Rowsley under the terms of the acquisition.<br />
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On its Iskandar Region project, Rowsley said that although the Malaysian<br />government had recently introduced anti-speculative measures for properties, it was<br />confident that the Johor State Government and Iskandar Regional Development<br />Authority remained committed to the long-term economic development of the<br />Iskandar Region. The Johor State Government is in the process of clarifying how<br />and to what extent the measures will be implemented. Once clarified, Rowsley<br />expects the strong demand for properties in the Iskandar Region to once again drive<br />the interest in the Johor property market.<br />
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Chiang Chie Foo, Chairman of Rowsley, said: “We have created tremendous<br />value for shareholders with our two acquisitions and are confident that the demand<br />for our product in Iskandar will be strong. Being debt-free, we are unfazed by any<br />anti-speculative measures in the operating environment and are poised for further<br />growth.”<br />
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Lock Wai Han, Rowsley’s Group CEO, added: “Our two acquisitions in 2013<br />were successfully carried out and we are already seeing the benefits of the synergy.<br />RSP’s expertise in architecture, urban-planning and engineering will maximise the<br />potential of the prime land which Vantage Bay sits on.<br />
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“We are optimistic that our development project in Vantage Bay will attract<br />genuine owners and investors.”<br />
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Rowsley remains debt-free and continues to look for further investment<br />opportunities in the region.Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8967925100950550960.post-76052511170296783072013-12-24T15:46:00.000+08:002014-05-19T15:30:05.709+08:00Peter Lim makes offer for Spanish football club ValenciaPublished December 24, 2013<br />
<br />
Tycoon agrees to invest 400m euros and clear debt; sets Jan 15 deadline<br />
<br />
ByAngela Tan <a href="mailto:angelat@sph.com.sg">angelat@sph.com.sg</a> <br />
<br />
[SINGAPORE] Singapore tycoon Peter Lim has a huge budget for his Christmas presents. By Jan 15, 2014, he would know if Santa has granted his wish to be the new owner of Spanish League football club Valencia CF.<br />
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In a press conference held on Sunday afternoon before Valencia's match against Real Madrid, Valencia's president, Amadeo Salvo, announced that Mr Lim, the 10th richest man in Singapore according to Forbes, had agreed to invest an initial 400 million euros (S$692 million) in the financially stricken club. Mr Lim has also offered to erase Valencia's debt to Spanish bank Bankia.<br />
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The arrangement could see Mr Lim buy the 70 per cent share belonging to the Valencia Foundation.<br />
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However, the agreement will not be official until Bankia, which holds the debt of the club, gives its approval. About 12 days ago, Bankia said it was putting Valencia up for sale.<br />
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Mr Lim has set the Jan 15 deadline for the offer to be accepted, so that the club can reinforce its squad in the January transfer window with the hope of challenging for Champions League places come the end of the season.<br />
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"Mr Lim's offer is amazing," Mr Salvo said.<br />
"The club has to sell for a price between 200 and 250 million euros," he added. "The new investor has to eliminate the debt we have with the bank, invest in players, promise to finish the new stadium and to let the club be run by the people of Valencia. Lim's offer meets all these requirements."<br />
A spokesman for Mr Lim declined to comment.<br />
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Valencia's fortunes on and off the field have suffered since a financial crisis struck Spain in 2009. The club has been unable to finish work on the Nou Mestalla stadium and has had to sell a number of its best players to raise capital.<br />
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Recently, Valencia was named one of the seven Spanish clubs to be investigated by the European Commission for alleged illegal state aid in which local government played a role in guaranteeing the loans taken out by the club from Bankia.<br />
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The search for a new investor has not been easy. Mr Salvo has spent months searching for a big investor in Valencia and thanks to super-agent Jorges Mendes, he has found Mr Lim. The 60-year-old is an avid sports fan worth around US$2.05 billion. He has also shown interest in buying a stake in rival Spanish club, Atletico de Madrid.<br />
In an effort to seek refinancing initially, Valencia travelled to Asia, including China and Singapore. On Nov 2, it met Mr Lim, who showed interest in the project.<br />
Mr Salvo said: "Lim is very passionate about football. In November, we opened advanced discussions about the future of Valencia. Upon our arrival back in Valencia, we came to the understanding that it would be difficult to refinance with Bankia.<br />
"There is a multinational company that can guarantee 130 million euros to finish the Nou Mestalla stadium. It's a very real project and not fictitious. It's always been said that, if we needed to sell, it should be for around 200-300 million euros, which would eliminate our debt. I've always stated that this is wrong and it wouldn't work with a venture capital fund. We needed someone objective and not speculation."<br />
<br />
He said following Bankia's statements, Mr Lim called the club and came to Valencia to meet the president of the board and vice- president of the foundation.<br />
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"Given this offer, which is one of two or three biggest deals in the world to purchase a club, we were obligated to present it to Bankia," Mr Salvo said.<br />
<br />
He added that Bankia was impressed by Mr Lim's "extraordinary offer", but needs to review other offers before submitting a report to its board of directors.<br />
<br />
"When Bankia gives the OK, Lim will come to Valencia to explain his project. Mr Lim wants to strengthen the team in January. He wants Valencia to play in the Champions League. This will be one of the biggest transactions in world football. It's a historic opportunity, it will solve all of Valencia's problems," Mr Salvo said.<br />
<br />
A fishmonger's son, Mr Lim made his fortune through holdings in palm oil producers. No stranger to the European football scene, he offered £320 million (S$661 million) to buy English Premier League soccer club Liverpool FC in 2010. But his all-cash offer for the club was eventually scuttled by an offer from New England Sports Ventures, owner of the Boston Red Sox.<br />
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Mr Lim is also reported to have shown interest in Rangers FC in Glasgow, Scotland. Mr Salvo confirmed that Mr Lim had tried to purchase Valencia under former president Manuel Llorente, but was turned down.<br />
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Mr Lim is not the only ultra-wealthy person in Asia interested in the top football clubs in Europe.<br />
In 2011, Malaysian entrepreneur Tony Fernandes, founder of budget airline AirAsia and chief of Formula One Team Lotus, completed the takeover of English soccer team Queens Park Rangers. <br />
<br />
Another Malaysian tycoon, Vincent Tan, has been dominating soccer headlines of late, albeit for the wrong reasons, when he threatened to axe Malky Mackay, the boss of his newly acquired Welsh club, Cardiff City.Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8967925100950550960.post-12473256168100176192013-10-10T11:38:00.002+08:002013-10-10T11:38:44.144+08:00Rowsley plans launch of Iskandar units by early ’14The Business Times <br />
Ong Chor Hao<br />
10/10/2013 <br />
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ROWSLEY Ltd, which has transformed itself into a property player, could launch residential units from its key development project in Johor's Iskandar region by early next year. The company is also confident about demand despite the possibility of Malaysia's southern-most state imposing a new property tax on buyers.<br /><br />Ho Kiam Kheong, executive director at Rowsley who oversees its sprawling Vantage Bay development, said this yesterday. Vantage Bay is a mixed-development comprising residences, offices, a mall and a hotel on 9.23 hectares of waterfront land about one kilometre away from the Causeway.<br /><br />The number of units for the first phase of residential units to be launched was not revealed, but Mr Ho said that overall, Vantage Bay should have more than 3,000 homes.<br /><br />Prices were also not available, but Mr Ho commented that on a "like-for-like" basis, prices in the area have gone up quite a bit and have surpassed the 1,000 ringgit (S$391) per square foot mark "quite significantly".<br /><br />While the company is "obviously disappointed" with the possibility of a new tax of about 4-5 per cent of the property price that the local government is mulling over, Mr Ho also welcomed the weeding out of speculation in the market.<br /><br />He added that the intervention was also a clear sign of sustained demand. "It's hot enough for the government to want to do something."<br /><br />The journey of Rowsley, controlled by billionaire Peter Lim, from an investment holding company to a real estate player in Iskandar began after it announced two significant deals last December.<br /><br />The first was to acquire the land that now houses the Vantage Bay project for $358 million; the second was to buy RSP Architects Planners and Engineers for up to $187.5 million.<br /><br />It has paid in full for the land and about $131.3 million of the consideration for RSP by issuing some 3.3 billion shares at 15 cents each after shareholders gave the green light for the deals last month. It has also issued two free warrants for each share that investors hold. The warrants start trading tomorrow.<br /><br />The outstanding $56.3 million in consideration for RSP is subject to the architectural firm achieving a net profit after tax totalling $75 million for the next three financial years starting from 2013.<br /><br />Lai Huen Poh, also an executive director at Rowsley, said the vendors for RSP are expecting to exceed the first-year earn-out target, after making a net profit of $25 million last year.<br /><br />With its transformation, Ho Tat Kin, executive chairman at Rowsley, noted that the company's market cap has jumped from $140 million to some $1.5 billion in less than a year.<br /><br />Acquiring RSP provides a strong recurrent income stream, and the firm's expertise and Rowsley's landbank in Iskandar mean "we now have the platform, synergy and scale to put Rowsley on a solid footing as a premium, quality developer", Dr Ho said.<br /><br />He added that Rowsley is currently debt free and lining up project financing for Iskandar.<br /><br />It has been swinging between losses and gains in recent years, most recently reporting a net loss of $975,000 for its first quarter ended June 30.<br /><br />The counter closed 5.6 per cent down at 34 cents yesterdayUnknownnoreply@blogger.com0tag:blogger.com,1999:blog-8967925100950550960.post-57244220500871715062013-09-26T11:39:00.000+08:002015-06-06T10:51:00.331+08:00F1-quality racetrack coming up in JBPeter Lim's project could pose competition for S'pore and Sepang circuits<br />
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The Straits Times - September 26, 2013 <br />
By: Christopher Tan <br />
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SINGAPORE tycoon Peter Lim's planned race circuit in Iskandar is revving up to be more than just a playground for the fast and furious. It could potentially rival Singapore and Sepang as a Formula One venue.<br />
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FASTrack Autosports, a venture between Mr Lim and the Johor royal family, which is undertaking the project, has decided to build an F1T-grade facility. F1T stands for Formula One Test.<br />
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It was slated as a Grade 2 track - for all races except F1 - when the project was first announced last year.<br />
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FASTrack chief executive Barry Kan said the company decided to upgrade to F1T when it found that it cost only about 10 per cent more to do so.<br />
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At a cost of just under $100 million, the track is part of a $1.4 billion motorsports hub project undertaken by FASTrack and Malaysian state-owned real estate company UEM Land.<br />
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On whether it will compete with Singapore and Sepang as a future F1 venue, Mr Kan said the circuit will have all the technical requirements necessary for Formula One races.<br />
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"F1 teams can test their cars here, but whether a circuit is an F1 track depends on one man," he said, referring to F1 czar Bernie Ecclestone.<br />
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Compared to a Grade 2 track, the 4.5km F1T circuit will have gentler gradients, wider run-off areas, stronger barriers, and a long straight stretching over 1km that will allow cars to breach 300kmh.<br />
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"It'll be faster than Sepang, Monza and Singapore," Mr Kan added, referring to three F1 circuits.<br />
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Sepang in Kuala Lumpur is a permanent F1 Grand Prix track. Its F1 contract ends in 2015. As for Singapore's street circuit, with its latest race just concluded on Sunday, its contract ends in 2017.<br />
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The Iskandar circuit, which is designed by renowned German racetrack designer Hermann Tilke, is due to be completed in 2016. It is part of the Mo-torsports City project within Gerbang Nusajaya in the fast-developing Iskandar region.<br />
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Gerbang Nusajaya is a mixed development township just a 10-minute drive from Tuas' Second Link. It could eventually have an MRT link to Singapore.<br />
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Besides F1 cars, the FASTrack facility with its two paddocks will be able to host superbike events. There are also an off-road circuit for sports utility vehicles and two go-kart circuits - one indoor, for electric karts. Mr Kan said construction is slated to start in the middle of next year.<br />
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Observers said the recent cancellation of plans for a $380 million racetrack in Changi will be an extra boon to the Johor circuit.<br />
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Already, Mr Kan said he has received calls from well-heeled individuals to reserve garage space.<br />
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Venture capitalist Tommie Goh said he will consider putting "a couple of track cars up there".<br />
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The facility offers a "bonded area", a tax-free zone for collectors to keep their cars - including left-hand-drive models - and use them on the track.<br />
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Mr Goh was surprised by the track's upgraded status. "It'll give Singapore a run for the money," he said.<br />
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But others do not think it will pose an immediate threat. Mr Colin Syn, deputy chairman of Grand Prix organiser Singapore GP, said it will get its chance only if Singapore and Sepang do not renew their contracts.<br />
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"And like everybody else, they'd have to pay a lot of money to host the race," he said.<br />
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Earlier this year, Sepang International Circuit chief executive Razlan Razali described the Johor project "more as a playground for the wealthy", rather than a competitive racetrack.Unknownnoreply@blogger.com0