Lim Peng Siang

Origins

Lim Peng Siang, the son of Lim Ho Puah and the only daughter of Wee Bin, the founder of Wee Bin & Co. He was born in Amoy, Fujian, China in 1872. After receiving his education in Chinese, he travelled to Singapore when he was still very young. Like his father, Mr. Lim Peng Siang was a naturalised British subject and had been so since 1902. He received private tuition in acquired most of his English education from private tuition. He was a student at the St. Joseph's Institution.

He joined the firm of Wee Bin & Co., which was then under the management of his father, Lim Ho Puah, and eventually rose to its head before setting out to start the Ho Hong Group. He took over the greater part of the firm's business, including the large steamers when the firm of Wee Bin & Co. was liquidated in 1911

Shipping

In 1914 Lim Peng Siang founds the Ho Hong Steamship Company Ltd. In 1936 Lim Peng Siang sells most of his shares in Ho Hong Steamship to OCBC.

Banking

He founded the Chinese Commercial Bank in 1912 together with other members of the Singapore Hokkien business community. Together with Lim Boon Keng, Seow Poh Leng and others he founded the Ho Hong Bank in 1917. In 1932, The Chinese Commercial Bank and the Ho Hong Bank merged with the Oversea-Chinese Bank to form the Oversea-Chinese Banking Corporation, later known as OCBC.

Ho Hong Group

By the 1910s the Ho Hong group was the most diversified group in Malaya. Among the other Ho Hong concerns which owe their existence to Mr. Lim Peng Siang are The Ho Hong Steamship Co. Ltd., The Ho Hong Oil Mills Ltd., The Ho Hong Parboiled Rice Mill, The Ho Hong Bank Ltd., and the Ho Hong Portland Cement Works Ltd. He had other schemes and the necessary machinery ready for a bucket-making factory and for the reclamation and development of several big pieces of swampy land in a big industrial area in the immediate neighbourhood of Singapore Town.

Leadership of Trade and Mercantile Organisations and Public Councils

He was an honourable chairperson of the Hong Kong Fujian Chamber of Commerce between 1930 and 1941. He was one of the leading men among the Chinese merchants of Singapore and was greatly respected by the community. He took an active interest in the formation of the Singapore Chinese Chamber of Commerce and has been one of its Presidents. He was a member of the Chinese Advisory Board, on which he has served for many years as one of the representatives of the Hokien (Fukien) community, and was a J .P .He was a director of a number of public companies, including the Central Engine Works Ltd. and the Central Motors Ltd. In his later years he was of a retiring disposition in so far as public activities were concerned, and though offered a seat on the Legislative Council on several occasions he had been obliged to decline it, having to give his whole attention to the numerous industries which he had built up.

A Clinic In Amoy

"About six months ago, a Mr Lim Peng Siang, an intimate friend of mine, doing banking and shipping business in Singapore, Hongkong, Amoy and Shanghai, returned to his village for a rest. One day a neighbour paid him a visit. This man had leprosy but thought it to be some kind of skin disease. Mr Lim then sent him to me for treatment. The response to treatment was very quick, he was so pleased that even now, he is used as an attraction for the sufferers of the same disease to come for treatment. With my cooperation a clinic was established by Mr Lim in his native place, Shima, two hours by launch from Amoy. Today there are about 85 receiving treatment."

Benefactor

It will be seen therefore how great a benefactor Mr. Lim Peng Siang has been to Singapore. It is hardly necessary to mention here how much a country depends on industry and shipping for its wealth and importance. It can be clearly seen to what extent Mr. Lim Peng Siang has contributed to both these factors. From time to time severe competition with other steamship lines reduced deck-passage rates to a ridiculously low figure and it also meant heavy loss to the firm: but this proved a boon to thousands of the labouring classes who were enabled to leave their homes in China and come to the Straits Settlements and the Netherlands East Indies to supply the labour market.

During the Great War he proved his patriotism by working hard in helping to raise money for the various funds, besides himself liberally contributing to such funds. He was never known to refuse help to a deserving cause, and innumerable were the charities to which he liberally contributed. He set an example worthy of being followed by the rising members of the Chinese community.