The son of Singapore Milliardaire Peter Lim appointed President of the Spain Valencia Football Club

Valencia see It said it was Kiat Lim – the Son for the largest shareholder of the Spanish Football Association, the billionaire Peter Lim – as the new president who confirmed the commitment of the Singapore tycoon for the club.

The news of the appointment comes hours after Lims investment area, Meriton Holdings, rumors that he is planning to sell Valencia. Kiat Lim, who has been a club director since 2022, will replace Layhoon Chan, who has held the role of president in the club in the past three years announced on Monday.

“I am pleased to hand over the baton to Kiat Lim, the son of our great shareholder is,” said Chan in the explanation.

The Spanish broadcaster Cope recently reported that Lim is considering selling the team for 400 million euros ($ 419 million). “Meriton wants to make it clear that such reports are wrong,” said the company in a separate explanation. “Valencia CF is not for sale and Meriton remains the Valencia cf.”

Meriton bought the 2014 club for 420 million euros. Of which, 200 million euros were paid for the payment of debts, while 170 million euros were earmarked for the final of the new stadium, Nou Mestalla.

The burgeoning debts of the club have set the construction of the new stadium for years. However, Valencia said that the work started in January, with the project expected to be completed by 2027. After securing a loan last November last November, this happens to restructure its finances.

Kiat Lim is also the deputy chairman of the Thomson Medical Group listed in Singapore, which goes beyond its core markets in Singapore and Malaysian markets. In 2023 he headed the takeover of the Vietnamese hospital Far East Medical Vietnam for up to 381 million dollars.

The older Lim-der has a real-time net worth $ 1.6 billion, so Forbes'– was a former stockbroker. He converted a profit of $ 1.5 billion more than a decade ago from the sale of his participation in Palmölgiangant Wilmar International into one billion-dollar portfolio, which includes education, healthcare, real estate and sports.