19 Aug '11, 11am

Singapore billionaire Peter Lim buys 'significant' stake in British car-maker and F1 team owners McLaren

SINGAPORE - Billionaire Peter Lim has made a "significant investment" in United Kingdom-based sports car maker McLaren Automotive, the company said. Mr Lim, who earned the nickname "Remisier King" in the city-state, has joined McLaren Automotive's board with immediate effect. Forbes Asia recently ranked him number eight on Singapore's rich list, with an estimated fortune of US$1.8 billion (S$2.2 billion) built mainly from investments. "Peter Lim's track record in Asia as a highly-respected business leader adds further quality to our board in this highly competitive business environment at an exciting time for the company," Mr Ron Dennis, executive chairman of McLaren Automotive and McLaren Group, said in a statement. The company said demand for its new McLaren sports car, the MP4-12C, is strong, with retailers in the Asia-Pacific region confirming orders that account for a...

Full article: http://www.todayonline.com/Sports/EDC110819-0000860/Peter...

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