Singaporean billionaire buys into McLaren Automotive

Gets a seat on the board of directors with immediate effect
Aug 22, 2011

TopGear.com.ph Philippine Car News - Singaporean billionaire buys into McLaren Automotive

McLaren Automotive, the high-performance sports car company of the McLaren Group and the maker of the McLaren MP4-12C, has revealed that Singaporean billionaire Peter Lim has made a sizable investment in the company.

Though McLaren did not disclose just how much money Lim has put into the company, it's significant enough to give the businessman and philanthropist a seat in McLaren Automotive's board with immediate effect. In March 2011, Forbes.com ranked Lim as the 736th of the world's billionaires with a net worth of $1.7 billion.

"On behalf of the McLaren Automotive board, I welcome Peter Lim to McLaren and look forward to working closely with him as our company expands into the Asia region," said Ron Dennis, the executive chairman of McLaren Automotive and McLaren Group. "This is a very exciting time for us and, as part of our growth strategy, we have been absolutely rigorous in ensuring that the right partners join us; those who are focused on supporting McLaren Automotive through investment that generates strong returns and strategic growth for the future. Peter Lim's track record in Asia as a highly respected business leader adds further quality to our board in this highly competitive business environment at an exciting time for the company."

According to McLaren, Lim's inclusion to the board of directors will strengthen the company's corporate and trading influence in the Asian region. This comes at a time when the demand for the MP4-12C in the area is so strong that McLaren's retailers in the Asia-Pacific region has confirmed orders that account for approximately 18 months of the car's production.

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McLaren Automotive is expected to begin the distribution of the MP4-12C in the Asia-Pacific region later this year.

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