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Lim Por-yen

林百欣
Lim Por-yen
150px
Lim Por-yen
Born 21 1914(1914-Template:MONTHNUMBER-21)
Chaoyang, Guangdong, China
Died 18 2005 (aged 90)
Hong Kong
Nationality Chinese
Occupation Textiles entrepreneur
Known for Lai Sun Group
Children Peter Lam


Lim Por-yen (Template:Zh; b. ca. 1914 – d. 18 February 2005) was a Hong Kong textiles tycoon and banker. He founded the Lai Sun Group (麗新集團), and his family was the biggest shareholder of Asia Television (ATV).

Contents

Biography

Lim Por-yen was born in Chaoyang, Guangdong, and moved to Hong Kong with his father in 1931.[nb 1]

In 1945, and started a factory manufacturing garments in Sham Shui Po for export. Lim earned himself the nickname of "African King" in the 1950s when he exported cheap military uniforms to African countries.[1] His company, Lai Sun Garment, was founded in 1947, and later listed on the Hong Kong Stock Exchange.

He successfully diversified into real estate in 1987 when he set up another vehicle, Lai Sun Development.[2] In the same year, Lai Sun acquired the Crocodile Garments business.[nb 2]

Public service and philanthropy

Deeply attached to his hometown and mainland China, he would start a massive program of donations in the 1980s. He founded four secondary schools in Shantou. In 1994, he would found a technical college there with a donation of ¥35 million, and endowed Shantou City Education Foundation with a further ¥10 million.[nb 3] He is said to have made in excess of ¥700 million in donations to causes throughout China, of which Shantou's share was more than half.[nb 4] He has been a supported of education in Hong Kong by setting up several schools.

He also donated to the University of Hong Kong's SARS Fund and helped to establish the Jao Tsung-I Petite Ecole. His support of the HKU Foundation and to the university in general over th eyears earned him an honorary fellowship in 2003.[3] Lim also endowed an Eye Genetics Research Center (named after him) at the CUHK in 2004.[4]

Lim was an adviser to Beijing on Hong Kong affairs. He also served on the Preparatory Committee and Selection Committee of the SAR. He was a founding member of the Better Hong Kong Foundation.[5]

Corruption conviction

Lim was implicated in the largest bribery scandal in Taiwan at the time.[5] Lim was arrested by Taiwan's Bureau of Investigation on accusations that he offered NT$200 million in bribes to several officials of the Taipei County Land Administration Bureau, including its former director.[1]

Lim owned some land originally slated for farming and industrial use. After Lim bought it, officials allocated the land for the new National Taipei University, allowing him to sell the land back to Taipei County for more than NT$890 million (US$28.6 million), an estimated NT$300 million above market value. He is alleged to have bribed officials to rezone the land.[citation needed]

In 1999, he was found guilty on charges of bribery and money laundering through the land deals, but his prison sentence of 38 months was reduced by one year.[citation needed] His appeal of this conviction was still under consideration at the time of his death.

Personal

Lim was married four times, and had seven children.[nb 5] His is legally and officially married to his first wife, Lai Yuen-fong (賴元芳)[citation needed].

His second wife, U Po-chu (余寶珠), is a 50-year veteran of the garment industry, and is a non-executive director of Lai Sun Garment.[1] His third wife is Gu Shui-ying (顧瑞英) and his fourth wife is Choy Yim-yu (蔡艷如).

Lim's eldest son, Lam Kin-ming (林建名), works for Lai Sun's Crocodile Garments.[nb 6] His second son, by his second wife, U Po-chu, is Peter Lam (林建岳) head of Media Asia Group and the Lai Sun Group. Their relations were under considerable strain when Peter acquired Furama Hotel Enterprises without consulting him.[1] Lim Por-yen also had a daughter, Pearl, from whom he was estranged, reportedly due to debts incurred from a property investment.[nb 7] He has an adopted son, Lam Kin-hong (林建康), who is responsible for mainland property investments in Hong Kong listed Lai Fung Holdings[nb 6]

On 10 December 2004, he gifted his 33.73% stake in Lai Sun Internatational equally to Peter and his mother.[nb 8]

Death

Lim died on 18 February 2005 from a lung infection; he was in his 90s.[2]

Notes

For verification purposes, the following are relevant citations in Chinese from the CCTV article dated 17 October 2005[6]

  1. "1914年生於潮陽的林百欣,1931年隨父移居香港,1939年開始在九龍城創業。"
  2. "1987年,麗新收購成立於1952年“鱷魚恤”,又追加近10億港元投資,繼而拓展日本市場。"
  3. "從上世紀80年代開始,林百欣就相繼在汕頭市捐建四所林百欣中學。1994年又捐款3500萬元建了汕頭林百欣科技中專,還在同年捐資1000萬元人民幣給了汕頭市教育基金會。"
  4. "據不完全統計,林百欣在北京、上海、廣州、汕頭和中山等地捐辦各種公益事業,總金額達人民幣7億元以上,僅在家鄉汕頭就有3.8億元。"
  5. "林百欣一生有四位妻子,共有七名子女,並收養一名養子"
  6. 6.0 6.1 "林建名將繼續協助林建岳打理鱷魚恤業務。養子林建康則負責內地地產業務的麗豐控股(1125.HK)。"
  7. "曾被林百欣視為掌上明珠的愛女林明珠,因一樁房地產投資引發的債務問題與林百欣對簿公堂。"
  8. "去年12月14日,林百欣將其持有的麗新係控股公司麗新國際(0191.HK)全部共33.73%股權,以饋贈形式贈予妻子余寶珠及次子林建岳(余寶珠為林建岳生母),每人一半。"

References

  1. 1.0 1.1 1.2 1.3 Dennis Eng, A little less debt for ailing Lai Sun, The Standard, 18 November 2002
  2. 2.0 2.1 Raymond Wang and Teddy Ng, Lai Sun Group founder Lim dies, The Standard, 19 February 2005
  3. Prof. S K Lam, Dean of the Faculty of Medicine (16 December 2003) Honorary University Fellows: Lim Por-yen University of Hong Kong
  4. Xinhua (27 March 2004) Genetic test helps diagnose eye diseases: HK expert, People's Daily
  5. 5.0 5.1 HK tycoon Lim Por-yen passes away, China Daily (20 February 2005)
  6. 13元錢起家的一代富豪:林百欣生前身後事 "The Lim Por-yen story", CCTV, 17 October 2005 (Template:ISO 639 name zh)




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