Early this month, a Spanish man shared on his socials photos of him holding up a sign that read “LIM GO HOME”. Who is this Lim that he was referring to and asking to return to whence he came from? Apparently he was referring to Kim Lim’s dad, remisier king Peter

It is rather strange that a Singaporean should be asked to “go home” on his native land and at his front door, but it did happen. According to recent news reports, a yellow sign with the words “LIM GO HOME” was unfurled early this month at several locations by a Spanish man, purportedly on holiday here with his wife. Both were arrested by the police and were issued a “stern warning” for the alleged “protest” (also known to us as “public assembly ”) that took place while the duo were here. The three-word demand was apparently directed at Peter Lim Eng Hock (林荣福), the tycoon father of socialite and beauty entrepreneur Kim Lim Hui Li (林慧俐). Mr Lim is also the owner of La Liga football club Valencia CF since 2014. Spanish media identified the pair, who left our island earlier today, as Dani Cuesta and his wife Mireia Saez, both supporters of the Spanish first division team.

Although not a familiar sight on our shores, individuals holding up that yellow sign—or similar —has been sufficiently seen at the Mestalla, the home stadium of the club Mr Lim owns. The images of those with their rallying cry have been shared on social media, too. It is not known if the Cuestas were just as enthusiastic with their protest back home, but here they expressed their views in very public locations here. Our media shared images of two: one at the Merlion Park and another outside the entrance of Ardmore Park’s Abelia condominium, believed to be owned by Mr Lim. The Spanish couple were reportedly on honeymoon here and probably thought they could harmlessly promote their cause. Last Friday, when they were to leave, supposedly for Bali, they were arrested at the airport.

Mr Cuesta posted on X the day before the couple departed: “Valencianistas. Thank you, thank you and thank you to each and everyone of you for the support shown during these difficult days. For the damage I did to the very important people in my life, I hope you understand. First, I must focus on the most important thing. If anyone thought that this club was dead, they only have to see how people have reacted to this abuse and this injustice that we have gone through…” It is not clear what “damage” was done and by whom, and what “abuse” and “injustice” he was referring to. Back home, those who support Mr Cuesta referred to him as “héroe sin capa” or hero without a cape.

Dani Cuesta, with his unambiguous yellow sign, outside Abelia condominium. Photo: daaanii1414/X

Peter Lim is considered one of the wealthiest men on our island. In 2014, he bought Valencia CF, then saddled with debt, and became the club’s controlling-stake owner and the first foreigner-boss. Back then, he was widely welcomed by the city—also known for oranges—and was seen as a sort of saviour. One former Valencia executive told The Athletic in 2020 that he received an exuberant response: “40,000 people waiting for him… he had everything to succeed… and he destroyed it.” Mr Lim did, however save the club from bankruptcy. But for the past several years, the Valencia fans, such as the Cuestas, have turned against him, believing that the Singaporean owner had not turned the club’s fortunes, even accusing him of poor management of the club and serious lack of investment in the team. Many want him to just sell. Protests against the 71-year-old billionaire have become frequent in Valencia, and the banners that are similar to what Mr Cuesta showed here were regularly raised at La Liga games at the club’s stadium. Currently, Valencia is placed 18th in the league from second place in the 2001-2002 and 2003-2004 seasons.

It has been a decade since Mr Lim bought Valencia CF. Surprising it is that he has not, as least to our knowledge, tried to reverse the the negative perception of him in the city of Valencia (and possibly, the whole of Spain). Or the damning news reports that have emerged against him. The Cuestas’s stunt unlikely hurt the couple (they probably won’t return and the warning, however stern, meant little), but it clearly bought attention to Mr Lim’s profile in not just his sports investments, but other businesses as well, even arousing the attention of the international media. He has not made any public remarks pertaining to the lone-wolf protest seen here, not even when it was brought to the very gates of his property, In fact, he has mostly been mum about the Valencia fan reactions, not addressing their anger and frustration.

When he bought the club, Mr Lim did not specifically spell out the reasons for his news-making acquisition, although financial reason, strategic investment, and passion for football were cited by the media. Most businessmen of considerable wealth invest in the sports market for as much financial gains as prestige and status—to have a foothold in the influential world of global sports. But it is not clear that Mr Lim has made improvements to his financial strength from the Valencia CF investment, even when he did stabilise the club’s financial shakiness by restructuring the inherited debts. According to The New York Times, Valencia’s former vice-president Miguel Zorio had written to Mr Lim in January to express his interest in buying the club for a reported €250 million (or about S$357 million). The current owner has rejected Mr Zorio’s overtures before and through the years has rejected offers from other investment groups as well. There is no confirmation the latest offer was excepted.

Peter Lim with his daughter Kim. Photo: kimlimhl/Instagram

Peter Lim was born in Singapore in 1953 to a fishmonger and his wife of unknown vocation. He has seven siblings and famously grew up in a two-room Bukit Ho Sweet HDB flat. Practically nothing is known of the man in his younger days, except that he went to Raffles Institution, alama mater of Lee Kuan Yew, to complete his secondary education. After NS, he left for Perth to further his education at University of Western Australia, where he graduated in a degree in accounting and finance, as it’s widely reported. His professional success came quickly. Back home in the ’80s, Mr Lim soon found himself labelled the “remisier king” for the stockbroking work he did for his Indonesian customers, through whom he reportedly made millions, the first wave of his continues flow of wealth to come.

In 1991, more money passed into his possession when he invested US$10 million in a start-up palm-oil company Wilmar International that was co-founded by Kuok Khoon Hong (郭孔丰), reportedly Mr Lim’s client-turned-friend, and, more significantly, the nephew of Malaysian businessman/Hong Kong resident—and another king, “sugar king”—Robert Kuok Hock Nian (郭鹤年). This investment was made as the global palm oil market was driven upwards by demand from the food and beverage, biofuel, energy, personal care, and cosmetics industries. As it’s oft-said, money makes more money. Wilmar International was, in 2022, sold for US1.5 billion. Today, Mr Lim has a wide investment portfolio that includes healthcare, property, and education. And the football club. And… as the chatter in the market went, his daughter Kim Lim’s beauty business.

By appearances and FB posts, Mr Lim is close to his only daughter. In a 2023 interview with influencer Xiaxue (aka Wendy Cheng Yan Yan or 郑彦彦), who called her interviewee a “very good friend”, Ms Lim revealed that she was abused as a child, when she was “about six or seven”. She credits her dad, now a grandfather to her son, for her current state of relative calm, saying “as I grew older, my dad taught me how to let go of things and how to compartmentalise those that are not good for me.” A husband twice (he is presently married to former MediaCorp actress Cherie Lim [林里嫔]), he seemed to have impressed on his daughter the importance of repaying society. She told Mothership last year, “Growing up, my dad has taught me the importance of giving back. He would involve my brother and I in his charity work by bringing us along to various donation drives and voluntary work.” The people of Valencia are now waiting to see if Peter Lim will give back what they wish to keep as their.

Illustration: Just So