by Cheryl Tay
ARA Asset Management's CEO John Lim (pictured) was named the overall winner of the Ernst & Young (E&Y) Young Entrepreneur of the Year award in Singapore, reported The Business Times.
"John stood out as he not only started his business during difficult economic times, he also paved the way for a relatively new Reit industry in Singapore and created many 'firsts' in the field," said Robert Yap, CEO of YCH Group and chairman of the judging panel.
Lim started ARA Asset Management in 2002 amid an economic slowdown. Despite its uncertain beginnings, he was able to grow his property firm, which now manages S$21 billion worth of assets. Now, he intends to increase his company's assets under management (AUM) to S$40 billion within five years.
With this recognition, Lim is slated to compete with over 50 businessmen from around the world at Ernst & Young's World Entrepreneur of the Year awards, which will be held in Monte Carlo in June.
Other winners at the Singapore awards include Founder and CEO of Second Chance Properties Mohamed Salleh, Global CEO of Meinhardt Group Shahzad Nasim, COO of FJ Benjamin Holdings Douglas Benjamin and Facility Link's Managing Director Martin Gui.Cheryl Tay, Editor of CommericalGuru, wrote this story. To contact her about this or other stories, email email@example.com
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