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From big boss to kopikia

Leepotism

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Asset
FORMER BOSS OF FIVE STAR TOURS NOW SERVES DRINKS IN HAWKER CENT







Ken Lim Cheng Chuan, 55, the former transport tycoon in charge of Five Star Tours, is now just a drink server at a local coffee shop.

Mr Lim declared bankruptcy last month shortly after his tour company, Five Stars, shut down.

He explained that the biggest hit to his former business was the opening of the two integrated resorts in Singapore.

When Marina Bay Sands and Resorts World Sentosa opened up in 2010 bringing casinos to Singapore, his business fell about 70% as bus tours to Genting were formerly his business's main revenue flow.

When his business took the hit in 2010, he tried to expand further in Malaysia instead of giving up and scaling down.

As a result, the business fell into cash flow problems and wound up in January this year shocking many as they were suddenly left without transport to make it back to Malaysia for Chinese New Year.

Mr Lim had hung on until the very end, but couldn't make it and he personally filed he police report when declaring bankruptcy.

For several months after his business collapsed, Mr Lim simply rested at home but now he is working at his relative's coffee stall serving drinks.
He explained that he stands for over 10 hours every day and the work is hot next to the stove all day. He admitted he was exhausted but he also had cheerful spirits, commenting that the work was still good thanks to its central location.

This made it easy for him to visit the court and the insolvency & public trustee's Office which he had to visit regularly to settle his financial matters.

He also said that it was close to the CPF building which he also visited regularly to try and pay off his former employees' outstanding contributions.
Five Stars Tours was set up by Mr Lim and his four brothers in 1990 and it grew rapidly to have 8 branches in Singapore in 2013.

Mr Lim also indicated that he hasn't given up. He said "just give me 10 years" but he said that right now, he wasn't looking at starting anything new yet.




 

da dick

Alfrescian
Loyal
this is what hapens when you invest everything into your own business like boss sam advice you too!

too bad, most people don't know when to stop when they become rich. running your own business is the most high risk ting you can do with your life and money. it's worse than gambling.
 

halsey02

Alfrescian (Inf)
Asset
Indeed this is wayang show to gain sympathy.
Probably got some couple of millions kept away.

All these things you believe?? He maybe bankrupt, money, properties, etc...stashed away with his workers, mistress, girlfriends in Malaysia...you may never know, still own many businesses....when he gets a chance to visit , he collect some money back or money remit to somebody account here...same here in Singapore...

Only the 60% read such news & believe....:p
 

Semaj2357

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Asset
he's just showing the oa that he's working to pay his employees' cpf and hoping that the other creditors will forget this episode and write off his debts. he's looking to enjoy life after that...
 

babuSingh

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Loyal
Definitely more than meets the eye. Surely he has some stash hidden away for a come back once bankruptcy act against him is dissolved.
 

halsey02

Alfrescian (Inf)
Asset
no no no.
he dont appear as an unlucky face.
no joke.an unlucky face can be tell striage away
i would safely say smokescreen

For a kopikia, he looked, well fed, well dressed , "work for relative"?, most likely paid for this stall, long time ago, using his "relatives" name...
 

ykhuser

Alfrescian
Loyal
For a kopikia, he looked, well fed, well dressed , "work for relative"?, most likely paid for this stall, long time ago, using his "relatives" name...

his feature:
chest upright posture
face chin up
strong pinkish forehead
fleshy nose.
ridge nose bridge
how to possible be kopikia?
 
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