Lim Peng Siang - AbsoluteAstronomy.com

Lim Peng Siang or Lin Bengxian (1872–1944) together with his brother Lim Peng Mao of Lin Bingmao, through their Ho Hong Group of companies,, founded in 1904, had interests in banking, shipping, parboiled rice, oil mills, cement, coconut and other businesses. President of Singapore Chinese Chamber of Commerce from 1913 to 1916 except for 1914 when he was Vice-President. He had close ties with the Hong Kong Fujian Chamber of Commerce and he and his brother Lim Peng Mao (Lin Bingmao) were listed as honourable chairpersons of that association between 1930 and 1941. Member of the Chinese Advisory Board between 1921 and 1941. His Ho Hong group built circa 1910 was the most diversified group in Malaya at the time. Peng Siang Quay in Singapore is named after him.

Origins

Lim Peng Siang, the son of Lim Ho Puah

Lim Ho Puah

On Siang Tat's death , Lim Ho Puah became the sole surviving partner in the firm of Wee Bin & Co., which was liquidated in 1911, when the greater part of the firm's business, including all the large steamers, was taken over by his son, Lim Peng Siang...

and the only daughter of Wee Bin

Wee Bin

Wee Bin born in China in 1823, was a far-sighted and enterprising Chinese migrant of the mid nineteenth century who, in his time, founded, Singapore's largest Chinese shipping firm. In 1856 at the age of thirty-three, Wee Bin was founder of Wee Bin & Co...

, the founder of Wee Bin & Co.

Wee Bin & Co.

Wee Bin & Co. chop Hong Guan, in Market Street, a firm that was rapidly becoming prominent in Singapore in the 1860s', was founded by Wee Bin. This firm carried on business as Merchants and Shipowners. The firm at first began business relations with various houses in Bali in the Dutch Indies, and...

He was born in Amoy

Amoy

Xiamen, or Amoy, is a city on the southeast coast of China.Amoy may also refer to:*Amoy dialect, a dialect of the Hokkien lects, which are part of the Southern Min group of Chinese languages...

, 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.

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

Hokkien

Hokkien is a Hokkien word corresponding to Standard Chinese "Fujian". It may refer to:* Hokkien dialect, a dialect of Min Nan Chinese spoken in Southern Fujian , Taiwan, South-east Asia, and elsewhere....

business community. Together with Lim Boon Keng

Lim Boon Keng

Lim Boon Keng, OBE was a Chinese doctor who promoted social and educational reforms in Singapore and China. Lim was of Chinese Peranakan descent, with ancestry from Hai Teng district in Fujian, China.-Early life:...

, Seow Poh Leng

Seow poh leng

Seow Poh Leng , one of the first few Peranakan Babas at Emerald Hill, was a prominent and successful Singaporean banker, founding member of the Ho Hong Bank, member of the committee of the Straits Settlement , philanthropist and benefactor of public development works...

and others he founded the Ho Hong Bank

Ho Hong Bank

The Ho Hong Bank was a Malayan bank, established to provide banking services that, until 1912, were solely delivered by European banks. The bank was founded in 1917 and in 1932 merged with two other banks in Singapore to form the Oversea-Chinese Banking Corporation .-Ho Hong's roots: The Chinese...

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

Oversea-Chinese Banking Corporation

The Oversea-Chinese Banking Corporation Limited , abbreviated as OCBC Bank , is a publicly listed financial services organisation with its head office in Singapore. OCBC Bank is one of Singapore's leading local banks, with group assets of more than 224 billion SGD. It has one of the highest bank...

, 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 ah 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.