19 Aug '11, 2pm

DTN Singapore: Singapore tycoon takes stake in McLaren Automotive: SINGAPORE - A Singaporean tycoon has taken a

DTN Singapore: Singapore tycoon takes stake in McLaren Automotive: SINGAPORE - A Singaporean tycoon has taken a

SINGAPORE - A Singaporean tycoon has taken a "significant" stake in McLaren Automotive, the British high-performance sports car maker said Friday. Peter Lim, a billionaire businessman who made his fortune through stockbroking, "has completed a significant investment in the company", McLaren said in a statement on its website. Lim will join the company's board of directors with immediate effect, said the statement, which did not give the size of the Asian tycoon's investment. It said getting Lim on board is part of McLaren's strategy to expand into the lucrative Asian market for its range of high-performance sports cars. "With Peter Lim's investment, McLaren marks another major milestone in its global growth strategy," the company said. His membership in the firm's board "will strengthen the company's corporate and trading influence in the region at a time of encouraging de...

Full article: http://www.channelnewsasia.com/stories/afp_singapore_busi...

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