From Stockbroker To Investor
Peter Lim’s father was a fishmonger. Peter was born in 1953 and lived with his seven siblings in a two-bedroom government flat in Singapore in one of the country’s oldest public housing estates. Sleeping involved rolling out a mat in any available space in the house, usually the living room. Peter earned a degree in finance and accounting at the University of Western Australia, in Perth.
Peter then became a stockbroker mainly for Indonesian clients. He was known for his successful returns in stock picks. From a stockbroker he became a full time investor in 1996. Perhaps his best investment was the $10 million he placed for palm oil producer Wilmar International. It was then just a startup company owned by Kuok Khoon Hong who was a former client and a friend. He sold his 5 percent stake in the company in 2010 for $1.6 billion.
Peter also owns a string of Manchester United F.C. themed bars and clubs in Asia. This led him to bid for the ownership of Liverpool F.C. in 2010. He also has interest in Thomson Medical Centre Limited when 2010 he bought the entire share holdings of Dr. Chen Wei Chen (and family) who founded the company. Peter also has a stake in property developer Yanlord Land.
He also has shares in British sports car maker McLaren Automotive and now sits on the board. Peter is an avid sports fan and this interest has gone into his business. He is rumored to be interested in buying Rangers F.C. in Scotland. The team is in financial difficulty and this looks like a good business opportunity for Peter.
He also formalized in December 2012 his venture with Malaysia state-owned UEM Land to construct an integrated motorsports hub in Johor’s Islandar region. This project is estimated to cost $1.14 billion and slated to be completed and functional by 2016. The infrastructure will be managed and operated by his majority-owned Fastrack Autosports.
On the philanthropic side Peter setup in 2010 an S$10 million scholarship under the Singapore Olympic Foundation (SOF) to nurture local sports talents.