Lim How Teck

By 8 December 2017

Mr Lim How Teck is currently Chairman of Redwood International Pte Ltd (an investment & consultancy company). Mr Lim has an in-depth knowledge of the shipping industry and the NOL Group, having been with the Group from 1979 to 2005. He held Directorships in various subsidiaries, associated companies and investment interests of the NOL Group. In NOL, he held various positions from Executive Director, Group CFO, Group COO and Group Deputy CEO.

Mr Lim has extensive international qualifications and experience in business finance and accounting. Prior to joining NOL, he worked in Coopers & Lybrand (an international accounting firm) and Plessey Singapore (a multi-national trading and manufacturing company).

Mr Lim holds a Bachelor of Accountancy Degree from the University of Singapore. He is a Fellow of the Chartered Institute of Management Accountants of UK (FCMA), a Fellow of the Certified Public Accountants of Australia (FCPA Aust), a Fellow of the Institute of Certified Public Accountants of Singapore (FCPA ICPAS), a Fellow of the Singapore Institute of Directors (FSID). He is a graduate of the Harvard Graduate School of Business Corporate Financial Management Course and Advanced Management Program in 1983 and 1989 respectively.

Mr Lim’s other appointments include being Chairman of Heliconia Capital Management Pte. Ltd, ARA-CWT Trust Management (Cache) Limited, Swissco Co Holdings Limited and NauticAWT Private Limited. He is also a Board Director of PNG (Papua New Guinea) Sustainable Development Program, Rickmers Maritime, ARA Asset Management Ltd, The Foundation for Development Cooperation (FDC), FDC Pacific, Accuron Technologies Limited,Public Utilities Board (PUB), Mizuho Securities (Singapore) Pte. Ltd., Greenship Offshore Manager Pte. Ltd and NauticAWT Private Limited. He is Senior Advisor to Bain Capital Partners, LLC and Adviser to Gadens and KPISOFT Pte Ltd. He was awarded The Public Service Medal (PBM) National Day Award in 1999 and the Public Service Star (BBM) National Day award in 2014.

Married with two children, Mr Lim takes a keen interest in golf, tennis and badminton.

Management Experience

  • Actively involved in McKinsey’s restructuring of NOL* in 1981, resulting in Strategic Business Units (SBUs) being set up, with particular emphasis on strategic accounting and performance measurements.
  • As Financial Controller and Chief Financial Officer, seen NOL through 5 cycles with highest net gearing of 16 to lowest net gearing of 0.1.
  • Issued many financial instruments like Loan Stocks with Transferable Subscription Rights (TSRs), Capped Floating Rate Notes, Tax-sparing loans, Redeemable Preference Shares making use of tax-exempt status, cross-border leases, Irredeemable Cumulative Convertible Preference Shares (ICCPS), asset securitisation, receivable securitisation, debt defeasance, synthetic leases etc.
  • Actively involved in equity issues with IPO experiences in 1981, international roadshows, placement of shares through book-building methods and hard underwriting. Experienced in handling general offers of shares.
  • Merger and acquisition activities. Prime mover in purchase of American President Lines (APL) for USD825m and purchase of American Automar for USD50m. Divestment of American Eagle Tankers (AET) for an enterprise value of USD1.1b with a 2-year earned-out profit formula. Sale of Double-Stacked trains for USD300m and sale of NAS Shipping for an enterprise value of USD99m. Lead negotiator for the above deals.
  • Instrumental in helping the NOL Group turnaround from a record USD330m loss in 2002 to a USD429m profit in 2003, a record USD943m profit in 2004 and USD804m profit in 2005.
  • Involved in challenging cross border tax shelters and initiatives.
  • Actively involved in cost savings measures, yield management and major hedging in initiatives for foreign exchange exposures and oil price exposures. Also involved in all major risk management initiatives.
  • Oversees 600 financial and related staff worldwide.
  • Practical and insightful experience on inter-personal relationship with many nationalities in a global setting.

* NOL Group is in transportation and supply chain solutions through its wholly owned subsidiaries APL Lines (American President Lines) and APL Logistics. It’s 2004 revenue was USD6.5 billion and net profit after tax was USD943 million. It’s 2005 revenue was USD7.3 billion and net profit after tax was USD804 million.

Consultancy Experience
Corporate Advisor to Temasek International Ltd, Member of MAS’ ACGC (Audit Committee Guidance Committee) and Financial Consultant to the Haier Group (China), FHTK Holdings Ltd, Integra2000 Ltd, EP Carriers Pte Ltd, Jett8 Airlines Cargo Pte Ltd, ITOCHU Singapore Pte Ltd and Syndicate 1965 (Lloyds Insurance).

Past Chairmanships of Boards

  • Singapore Commodity Exchange Limited
  • PSA Marine (Pte) Ltd
  • Lloyds Syndicate 1965
  • Pacific King Shipping Holding Pte. Ltd.
  • Integra2000 Ltd
  • Cisco Recall Total Information Management Pte. Ltd
  • Tuas Power Ltd
  • Certis CISCO Security Pte Ltd