Lim Peng Siang

Lim Peng Siang (Chinese: 林秉祥; pinyin: Lín Bǐngxíang; Pe̍h-ōe-jī: Lîm Péng-siông; also known as Lin Bengxian; 1872–1944)^[1] was a businessperson in Singapore and Malaya. Together with his brother Lim Peng Mau^[2] (Lin Bingmao), he founded the Ho Hong Group of companies in 1904,^[1] which had interests in banking,^[3] shipping, parboiled rice, oil mills, cement, coconut and other businesses.^[4] He was a president of the Singapore Chinese Chamber of Commerce and a member of the Chinese Advisory Board. Peng Siang Quay in Singapore is named after him.

Lim Peng Siang 林秉祥 JP
Born	1872 Amoy, Qing empire
Died	21 March 1944(1944-03-21) (aged 71–72) Singapore
Nationality	Naturalized British subject
Occupation	Businessman
Known for	Founder of Ho Hong Group; President of Singapore Chinese Chamber of Commerce
Spouses	Lee Bay Neo, Wee Guat Choo Neo
Father	Lim Ho Puah

Early life and education

Lim was the son of Lim Ho Puah. His mother was the only daughter of Wee Bin, the founder of Wee Bin & Co. He was born in Amoy, Fujian, China in 1872.^[5] After receiving his education in Chinese, he travelled to Singapore when he was still very young. Like his father, Lim was naturalised as a British subject, in 1902. He received private tuition in English and was a student at the St. Joseph's Institution.^[6]

Career

Lim joined the firm of Wee Bin & Co., which was then under the management of his father, 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 steamships, when the firm of Wee Bin & Co. was liquidated in 1911^[6][7]

In 1914, Lim founded the Ho Hong Steamship Company Ltd. He sold most of his shares in Ho Hong Steamship to the Oversea Chinese Banking Corporation in 1936.^{[citation needed]}

Lim 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, Chinese Commercial Bank and Ho Hong Bank merged with the Oversea-Chinese Bank to form the Oversea-Chinese Banking Corporation.^[5][8][9]

By the 1910s, Ho Hong Group was the most diversified group of companies in Malaya.^[10] Companies in the group founded by Lim included Ho Hong Steamship Co. Ltd., Ho Hong Oil Mills Ltd., Ho Hong Parboiled Rice Mill, Ho Hong Bank Ltd., and the Ho Hong Portland Cement Works Ltd. He also had plans 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.^[6]

Public life

Lim was involved in the formation of the Singapore Chinese Chamber of Commerce, and was its president from 1913 to 1916, except for 1914 when he was vice president. He was a member of the Chinese Advisory Board between 1921 and 1941, as one of the representatives of the Hokkien community. Along with his brother, he was an honourable chairperson of the Hong Kong Fujian Chamber of Commerce between 1930 and 1941.^[11]

Lim was also a director of a number of public companies, including the Central Engine Works Ltd. and the Central Motors Ltd.^{[citation needed]} He was also a Justice of the Peace.^{[citation needed]}

In his later years, he was less active in public life, and declined the offer of a seat on the Legislative Council several times, in order to concentrate on his industrial work.^[6][12]

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.

— Song Ong Siang, ^[6]

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.

— Song Ong Siang, ^[6]