Hock Chee Lim

LIM HOCK CHEE

Co-founder and CEO

Known as "the towkay", Lim Hock Chee is co-founder and CEO of Singapore's third-largest grocery retailer. He is listed as 34th among Singapore's 50 Richest by Forbes, with an estimated net worth of US$515 million. Sheng Siong Supermarkets began as a chilled pork counter in the now-defunct Savewell store in Ang Mo Kio, where Lim and his wife sold excess supplies from the family farm. In 1985, the savvy entrepreneur bought over the store, the first of 33 that today makes up the Sheng Siong Supermarkets chain. The group, valued at $345 million after Sheng Siong's IPO in 2011, posted a 7.8 percent increase in net profit to $8.37 million for the third quarter ended September 30, on a 4.8 percent increase in revenue to $140.3 million. The success of a 24-hour outlet in the Geylang red-light district saw the group convert the more of its outlets into 24-hour stores in 2013. In October, it entered into an agreement with CEL to purchase six units at 18 Yishun Avenue 9.

Company:

Sheng Siong Supermarkets