Latest news with #CausewayLink
New Straits Times
3 days ago
- Business
- New Straits Times
From a RM250 salary to Malaysia's Top 50 richest list
JOHOR BARU: A modest RM250 monthly salary selling cars marked the beginning of Lim Han Weng's career, decades before his name joined the ranks of Malaysia's 50 richest. Then, Lim was just a Kedah lad trying to land a job with his high school certification, as he knew his results would not secure his passage to university. So, the best next option, was to get a job, - any job in fact. Lim applied for a series of vacancies advertised, including to be a steward with the national airline company. But all he got was a string of job rejection letters to his name. Today, at 73, Lim is the founder of Causeway Link—the iconic yellow buses that ferry thousands across the Johor-Singapore border. But his rise to the top did not come from privilege. His first break came when he landed a job at Wearne Brothers, earning RM250 a month selling cars. The company operated in Singapore and later expanded into Malaya, with dealerships for various premium brands. Lim had to pitch high-end models to small-town buyers who mostly preferred Japanese cars. His sales target: two cars a month. The tycoon said meeting the target taught him discipline, perseverance, and mostl importantly the art of selling. He later joined Lori Malaysia, a logistics company that sent him around the country before assigning him to its Johor branch—a turning point in his life. "A driver told me… Johor is where the money can be made, given its proximity to Singapore, and he was right. I stayed," the tycoon told a Singapore-based publication. By 1984, he and his wife Bah Kim Lian launched Yinson Transport, a small trucking business moving goods across the border. That venture would morph into Yinson Holdings - a global energy logistics giant and a major player in offshore oil and gas supplies. In 1996, Yinson was listed on Bursa Malaysia but Lim didn't stop there. He diversified into renewables, marine support, and later electric vehicle charging. In Singapore, he founded Liannex Corporation in 1993, expanding into marine logistics, port operations, and construction supplies. Earlier this year, Liannex acquired Icon Offshore and rebranded it as Lianson Fleet Group. By June 2, its market value had soared past RM670 million. But what cemented his legacy for ordinary Malaysians was the launch of Causeway Link in 2003. Spotting a need among cross-border commuters, Lim built the service from scratch. "There were so many hurdles - permits, finance, manpower. But we pushed through," he was quoted by Singapore's the Straits Times. The company was listed this year as HI Mobility, with expansion plans into smart transport systems. Despite a reported family fortune of US$480 million (RM2.3 billion), Lim remains directly involved in operations, even answering WhatsApp messages from angry passengers or the Johor Menteri Besar Datuk Onn Hafiz Ghazi, himself. His son, Lim Chern Chuen, now CEO of HI Mobility, admitted: "It's hard for him to retire. Our dinner chats are mostly work-related. For him, business is also joy." Lim's children - Chern Yuan (Yinson), Chern Wooi (Lianson), and Chern Fang alongside Chern Chuen (HI Mobility), now run the family's public-listed portfolio. Lim raised them independently, sending them to Australia under age 10. "No helpers, no mollycoddling. Let them survive. If parents keep feeding them, they'll never learn to stand up." He's still involved in business deals, particularly in Indonesia. "My kids don't speak the language, so I handle it. If you retire, your brain will rust," he said. A firm believer in entrepreneurship, Lim often encourages others to strike out. "Some bankers I've dealt with are now business owners. I told them, take the risk."
Straits Times
3 days ago
- Business
- Straits Times
Causeway Link: How a Malaysian family built the company behind the yellow ‘smiley' buses and takes it public
Malaysian businessman Lim Han Weng and his son Lim Chern Chuen have built the company behind the Causeway Link buses into a multimillion-dollar business. ST PHOTO: SHINTARO TAY SINGAPORE – The bright yellow Causeway Link (CW) buses that move thousands of people across Johor and Singapore daily are known for the smiley faces plastered on their facade, but their origin story wasn't quite as cheery. Back in the early 2000s, Malaysian businessman Lim Han Weng frequently commuted across the Causeway to oversee his trucking and bus assembly businesses on both sides. He would sometimes join long, snaking queues of exhausted commuters at Kranji MRT station in the evening, waiting for hours for the non-air-conditioned SBS Transit service 170 buses to get them home to Johor. A former car salesman turned logistics entrepreneur, Mr Lim, who is also a Singapore permanent resident, saw both a business opportunity and a pressing problem. Determined to ease commuter woes, he approached the Malaysian authorities and managed to secure a licence to offer cross-border rides – but only up till the Causeway. Then in 2002, he went to Singapore's Land Transport Authority (LTA) armed with photos of winding queues and first-hand accounts from frustrated commuters to make his case. But it took more than a year of persistent lobbying, including meetings with then Transport Minister Yeo Cheow Tong and then Trade and Industry Minister George Yeo, and a promise to LTA that he would not use 'broken buses' in Singapore to finally receive the licence. That made his company, Handal Indah, the first Malaysian operator approved to run cross-border bus rides. In March 2025, this same company that started with a small fleet of CW buses two decades ago went public on Bursa Malaysia as HI Mobility. Its initial public offering (IPO) saw strong investor interest, with the public tranche oversubscribed 6.6 times. Its market capitalisation stood at around RM630 million (S$192 million) as at June 2. 'Back then, we were not thinking of IPOs or making money. It's about helping people,' Mr Lim, 73, recalled during an interview with The Straits Times at his Kranji Green office. He was joined by his son, HI Mobility chief executive Lim Chern Chuen. 'A lot of successful businessmen don't want to be in this business because it is capital intensive. You won't make much money because the fare is government-regulated. Dealing with drivers can also be problematic,' he added. Mr Lim also launched bus services within Johor out of a sense of public service. He recalled a journalist who, irked by chronic delays for local buses that made him late for work, pestered him to step in. What finally moved him was a news article the journalist shared – about a student who arrived for an exam two hours late because the bus never showed up on time. 'By hook or by crook, we need to help them,' Mr Lim said. A younger Mr Lim Han Weng posing in front of his fleet after securing the licence in 2003 to run cross-border bus rides under the Causeway Link brand. ST PHOTO: JAMES JACKSON CROUCHER Early hurdles First, he had to overcome bankers' scepticism about the profitability of a public transport venture. This was even though Mr Lim is no stranger to the transportation business. He had built up cross-border trucking company Yinson Transport, the first business he co-founded with his wife in 1984. After he diversified into marine logistics – supplying offshore support vessels to oil and gas companies – he took the company public as Yinson Holdings in 1996 and spun off the less profitable trucking arm in the process. Yinson Holdings, now a global energy infrastructure and technology company, had a market capitalisation of more than RM6 billion as at June 2. Yet even for this self-made tycoon, securing loans was not straightforward. His banker demanded guarantees and imposed higher interest rates. 'I scolded the banker,' Mr Lim said in jest – but in the end, he got the financing he needed. The next challenge? Finding drivers. Mr Lim recalled having to scour rural Felda settlements and shopping malls to recruit jobless youth. Training a licensed bus driver typically costs around RM5,000 and takes five or six months, he said, but retaining them was tough. Singapore's SBS Transit and SMRT regularly host job fairs in Johor hotels, enticing drivers with free meals and attractive salaries in Singapore dollars. 'That's why we have to train many drivers. Some stay with us. Those who want to make more money will leave to work in Singapore, but they sacrifice in terms of sleep,' Mr Lim said. He also showed a thoughtful side as a boss. When asked why he added smiley faces on the bus decals, he said it was his way to pacify passengers who complained that his drivers were not smiling. In Europe, it is common for drivers to greet passengers with a smile, he said. 'But we don't have this culture here. How to get drivers to smile every day?' While Mr Lim and his wife remain the majority shareholders of HI Mobility, they have handed over day-to-day operations to two of their children. Their son Lim Chern Chuen, 44, came on board as strategy and planning director in 2007 after stints at Accenture and KPMG in Australia, and was appointed CEO in 2024. Their daughter Lim Chern Fang, a Singaporean, joined the company in 2003 and now serves as its chief marketing officer. Mr Lim Chern Chuen has served as HI Mobility's CEO since 2024. ST PHOTO: SHINTARO TAY In FY2024, HI Mobility achieved RM207.7 million in revenue, with scheduled bus services – including cross-border, intercity and intracity routes – making up 91.8 per cent of earnings. The rest came from its chartered bus services, repair and maintenance services, and advertising space rental on the buses. Surviving Covid-19 Mr Lim said the bus passenger business has always been cash-flow positive despite a thin margin – after paying taxes to both governments. But its resilience was severely tested during Covid-19 – when revenue crashed to almost zero overnight following border closures and Malaysia's movement control order in 2020. Causeway Link was authorised to offer cross-border rides under the Vaccinated Travel Lane scheme from late 2021. ST PHOTO: LIM YAOHUI Although the company was later allowed to run cross-border trips under the Vaccinated Travel Lane scheme in late 2021, passenger numbers and routes were very limited. In those two challenging years, the company suffered losses exceeding RM30 million, Mr Lim said, and he had to inject personal funds to keep it afloat. No retrenchments were made but everyone took a pay cut, Mr Lim Chern Chuen said. Some drivers were redeployed to help with goods delivery for merchants, while others took the chance to upskill. The key lesson learnt was the need to diversify operations, and to stay agile enough to ride on new opportunities, he added. After the pandemic ended, the company had to raise ticket prices to recoup some losses, but cross-border rides remain fairly affordable. Trips from Kranji MRT station to Johor Bahru Customs are priced at $2.60, while departures from Newton Circus and Queen Street Bus Terminal cost $4.60 and $4.80, respectively. Return trips from Johor Bahru are charged the equivalent amounts in ringgit. Revenue from the cross-border segment surged from RM4 million in FY2022 to RM122 million in FY2024, making it the largest revenue contributor, accounting for 58.9 per cent of total earnings. Commuters queueing outside Kranji MRT station to board the Causeway Link bus to Johor Bahru during the evening peak hour. ST PHOTO: BRIAN TEO Ridership on cross-border buses reached close to 16 million passengers in FY2024, far exceeding pre-pandemic levels. For this financial year, passengers departing from Singapore are expected to contribute almost 49 per cent of HI Mobility's revenue, according to its IPO prospectus. Revenue from the intra-city segment also jumped from RM19.6 million in FY2022 to RM65.9 million in FY2024. Many of such government-contracted intra-city bus services in Johor, Melaka and the Klang Valley are now run under a gross-cost contracting model, where the company receives a fixed fee for providing punctual, reliable services without bearing revenue risks. Mr Lim Chern Chuen said this arrangement has helped improve the company's profit margins. Opportunities and risks Mr Lim Chern Chuen said that while workers who commute daily across the border remain a key segment, the revenue growth in recent years has also been driven by more recreational travellers from Singapore taking advantage of the favourable exchange rate to shop and enjoy services in Johor. The introduction of QR code immigration clearance also eased bottlenecks at the border, which encouraged more people to make day trips, he added. He believes that when more businesses move to the Johor-Singapore Special Economic Zone in the future, another substantial customer segment will be unlocked – business travellers who have to shuttle between their offices on both sides regularly. The opening of the Johor Bahru-Singapore Rapid Transit System (RTS) Link in end-2026, however, is acknowledged as a risk factor in HI Mobility's prospectus. But Mr Lim Chern Chuen is optimistic as it could also result in a bigger pie as people switch from driving across, easing congestion and making day trips more attractive. 'Even though the RTS could be seen as being cannibalising in some ways, we think there are a lot more opportunities,' he said. One opportunity lies in offering more supplementary bus services to ferry RTS passengers to and from the Woodlands North and Bukit Chagar terminals. He also believes that as more travellers switch to the light rail instead of driving, traffic congestion on the Causeway and Second Link will ease, which could improve commuters' experience on the CW buses and attract more riders. 'If we can reduce the travel time, many more people will travel. There's just so much latent demand,' he said. Preparing for the future To tackle driver shortage, the Lim family has invested in autonomous vehicle (AV) technology through another business, Yinson GreenTech. For example, they are backing a Singapore-based AV technology start-up, which has been running an autonomous bus at Ngee Ann Polytechnic – albeit with a safety driver on board. While replacing gig drivers with AVs is often politically sensitive, for public transport – where there is a genuine labour crunch – this could be a 'perfect starting point', Mr Lim Chern Chuen said. HI Mobility has been adding electric buses to its fleet to align with Malaysia's energy transition targets. PHOTO: HI MOBILITY Looking ahead, Mr Lim Chern Chuen said he will grow the fleet size from 683 buses pre-IPO to around 800 in the near term. The company has also been adding electric buses to its fleet to align with Malaysia's energy transition targets. Beyond transportation, the Lim family is investing in electric vehicle (EV) infrastructure. They operate a large EV charging network under two brands, chargEV and DC Handal. They have also been awarded a government contract to manufacture and distribute standardised number plates, which are equipped with RFID (radio frequency identification) technology and anti-cloning holograms, for zero-emission vehicles in Malaysia. To improve first- and last-mile connectivity, they piloted a demand-responsive ride-sharing service called Kumpool in Johor and the Klang Valley. The app allows bus passengers to book affordable van rides to take them home from the bus stops on the trunk roads. While these ventures remain private for now, they could eventually be folded under HI Mobility as the business scales, said the Lims. This will help them diversify beyond bus services and unlock greater value for shareholders. As to whether the company will raise ticket prices further to fatten its profits and boost share prices, Mr Lim Chern Chuen said keeping bus journeys affordable remains his priority. It is a principle deeply rooted in his father's founding mission, and one that continues to guide his decisions, and gives his passengers a reason to smile as brightly as the smiley faces on the buses. Cheong Poh Kwan is Assistant Business Editor at The Straits Times. Join ST's WhatsApp Channel and get the latest news and must-reads.
Straits Times
3 days ago
- Automotive
- Straits Times
From car salesman to Malaysia's 50 richest: The rise and rise of Causeway Link founder Lim Han Weng
Mr Lim Han Weng, founder of the Causeway Link brand, has handed the reins of his three listed companies to his children. PHOTO: HI MOBILITY From car salesman to Malaysia's 50 richest: The rise and rise of Causeway Link founder Lim Han Weng SINGAPORE – Before he made it to Forbes Malaysia's 50 richest list, Mr Lim Han Weng – the founder behind the Causeway Link buses that ferry thousands of cross-border commuters daily – was once a young man with a simple dream: landing a stable job. Born in Kedah, he graduated with a Higher School Certificate but figured his results were not good enough for university. So he started applying for any job he could find listed in the local classifieds, including an air steward role with Malaysia Airlines. Rejection letters dashed his hopes of getting an office job or a jet-setting career. 'Every time I'm on an airplane, I'm reminded of this,' the 73-year-old laughed when recounting his challenging job hunt in an interview with The Straits Times in his Kranji Green office. Eventually, he became a car salesman for Wearne Brothers, earning a basic salary of just RM250 . His monthly target was to sell two cars – no easy feat in a small town where the big, expensive Jaguar, Holden and Opel models he sold were less popular than Japanese cars. Still, he met his target and appreciated the sales training. Next, he joined Lori Malaysia, a semi-government-owned logistics company, where he was posted to different parts of the country. When he arrived at the Johor branch, a driver commented that this was the best place to make money because of its proximity to Singapore. He stayed for the next five years, and when it was time to return to the Kuala Lumpur headquarters, he chose to resign. In 1984, Mr Lim co-founded his first company, Yinson Transport, with his wife Bah Kim Lian, moving goods across the border for businesses using a small fleet of lorries. That modest trucking company would evolve into something far bigger after he diversified into marine logistics, supplying ships and offshore support vessels to oil and gas companies. In 1996, Yinson Holdings went public, and continued to expand its global presence. It is now one of the world's biggest providers of floating production, storage and offloading vessels, which are used to extract and store crude oil. According to Forbes, the company has US$21 billion (S$27 billion) worth of leasing contracts extending till 2048. Yinson is also in the business of producing renewable energy and building electric vehicle charging networks. In Singapore, Mr Lim set up Liannex Corporation in 1993, and the company now offers services in bus modification, marine logistics, port operation and the supply of construction materials. In 2024, through Liannex Corporation, he bought a controlling stake in marine logistics company Icon Offshore, and turned it into Lianson Fleet Group, which has a market capitalisation of more than RM670 million (S$ 202 million) as at June 2. The serial entrepreneur also saw the pain point of cross-border commuters, and launched Causeway Link bus rides in 2003 after overcoming political red tape, financing and recruitment challenges. On March 28, this company went public as HI Mobility, and has plans to pioneer more smart mobility solutions on both sides of the Causeway. A younger Mr Lim Han Weng posing in front of his fleet after securing a licence in 2003 to run cross-border bus rides under the Causeway Link brand. ST PHOTO: JAMES JACKSON CROUCHER Even as a tycoon with a family net worth of US$480 million, according to Forbes, Mr Lim remains remarkably hands-on, taking calls and responding to WhatsApp messages from irate passengers, concerned parents and the Johor Menteri Besar Onn Hafiz Ghazi, known for his frequent trips to the land checkpoints to address congestion issues. Now, Mr Lim has handed the reins of his three listed companies to his children, with Mr Lim Chern Chuen and Ms Lim Chern Fang overseeing HI Mobility, Mr Lim Chern Yuan helming Yinson Holdings, and Mr Lim Chern Wooi heading Lianson Fleet Group. He sent his children to Australia for their studies when they were still under 10 years old. With no relatives around and their mother unable to be with them all the time, they had to learn to fend for themselves from a young age. 'When you help them too much, they don't want to think for themselves,' said Mr Lim, who has never believed in overparenting. He said young people have to learn to survive in an uncertain world, unless their parents are prepared to feed them forever. Mr Lim Han Weng (left) with his son Lim Chern Chuen, the current chief executive of HI Mobility. ST PHOTO: SHINTARO TAY He remains actively involved in growing his other businesses, especially when it comes to managing deals in Indonesia, as his children do not speak the local language. 'If you retire, your brain will go haywire,' he quipped. His son, Mr Lim Chern Chuen, agreed that it is difficult for his parents, especially his father, to retire. 'Our dinner conversations usually revolve around work,' the HI Mobility chief executive said. 'For him, it's not really work. It's like a passion as well, so it's difficult to take the two apart.' Mr Lim is a big advocate of entrepreneurship. He is proud to have nudged some of the bankers he has met in the past into striking out on their own – and watched them succeed. He said aspiring entrepreneurs do not have to look far. 'Singapore has a financial centre, Malaysia has land and resources. When we look at these two countries, there are plenty of opportunities.' For him, global ambitions start from home, and there is no better launch pad than Singapore and Malaysia. Cheong Poh Kwan is Assistant Business Editor at The Straits Times. Join ST's WhatsApp Channel and get the latest news and must-reads.
AsiaOne
7 days ago
- Automotive
- AsiaOne
Cones with reflective discs: More safety measures during peak hour at Woodlands Checkpoint after accident, Singapore News
As vehicles on the departure lane on the Causeway came to a halt on Friday (May 30) 4pm, six officers from the Immigration and Checkpoints Authority (ICA) got to work. Like clockwork, they unloaded several water-filled barriers and safety cones from a van in the sweltering heat, before placing them along the lane markers. Traffic at the departure lanes resumed at 4.30pm. But this time, one of the lanes had been temporarily converted into an arrival lane for heavy vehicles. The contra-flow operation with a "flexi-lane" at Woodlands Checkpoint is one of the "complex traffic management" options that ICA employs to ease congestion during peak periods. Others include converting part of the departure cargo zone to clear cars departing Woodlands Checkpoints. Contra-flow traffic operations are temporary arrangements in which traffic flows in the opposite direction of the usual flow. Their frequency largely depends on real-time traffic conditions. The green light is given by ICA officers in the operations room at Woodlands Checkpoint, who monitor human and vehicular traffic round the clock via surveillance cameras. ICA's demonstration to the media came less than a week after a Singapore-registered car heading into Johor Bahru collided head-on with a Causeway Link bus en route to Singapore at Woodlands Crossing leading to the Causeway. The accident, which happened on May 24 at around 5.30am, led to the car driver and three passengers being taken to hospital. The lane was also closed for around three hours. In a statement on the same day, ICA said that its preliminary investigations found that prior to the accident, the contra-flow operation was activated before barriers were put in place, which was not in accordance with safety procedures. "We will comprehensively review our safety measures before restarting the contra-flow operations," the authority said then. It said that since the contra-flow operations resumed on May 26, it has implemented more safety measures at Woodlands Checkpoint during peak hours. AsiaOne witnessed some of the safety enhancements that ICA rolled out. They include safety barriers with blinker lights and cones with reflector discs marking out the end of the lane which are set up about 20m further ahead to give motorists advance notice that they would have to merge into the two remaining lanes. ICA also said that commanders conduct checks to make sure the ground is clear before commencing contra-flow operations. Speaking to reporters on May 30, Senior Assistant Commissioner Maran Subrahmaniyan said that more than one million travellers cross the borders through Singapore's land checkpoints on weekends. The commander of ICA's Woodlands Command said that given the current infrastructural constraints and increasing travel volume, especially cars and motorbikes, the authority has been leveraging technology to better monitor and manage the traffic at the land checkpoints. He added: "Contra-flow operations at our side of the Causeway are part of our measures during daily peak hours to manage traffic congestion. We have enhanced the safety measures of our contra-flow operations to further increase visibility of the contra-flow lane. "We have also put in place additional layers of checks to ensure safety protocols are in place before the contra-flow operations are activated. "ICA will continue to review our measures implemented at the checkpoints to ensure safety of the motorists." [[nid:718354]] chingshijie@
Straits Times
26-05-2025
- Automotive
- Straits Times
Two motorcyclists taken to hospital after accident near Woodlands Checkpoint
Two rider-less motorcycles on the ground, with another parked close by, after a collision on May 26. PHOTO: SCREENGRAB FROM MALAYSIA-SINGAPORE BORDER CROSSERS(MSBC)/FACEBOOK Two motorcyclists taken to hospital after accident near Woodlands Checkpoint SINGAPORE – Two motorcyclists were taken to hospital on May 26 after an accident – the latest in a series of incidents – near the Woodlands Checkpoint. The police said they were alerted to an accident involving two motorcycles along the BKE towards the PIE at around 8.10am. Two male motorcyclists aged 22 and 24 were taken to the hospital conscious. Police investigations are ongoing. In video footage of the incident's aftermath circulated online, two motorcycles can be seen lying on their sides in the middle lanes of a road, while a third bike is parked nearby. None of the riders are seen in the video. The accident on May 26 is a string of accidents in recent months in and around the Woodlands Checkpoint, both leaving and entering Singapore. On May 24, a car heading into Johor Bahru collided with a Causeway Link bus en route to Singapore at Woodlands Crossing leading into the Causeway. The accident, which happened around 5.30am, led to the car's driver and three passengers taken to hospital, and the lane closed for around three hours, said the ICA, on a Saturday morning when traffic on the Causeway is normally heavy. Separately, on April 5, a motorcyclist was taken to hospital after a collision with a car at around 4pm along the BKE towards Woodlands Checkpoint. The car's driver was called to assist the police with investigations. Another incident on the morning of Nov 29, 2024 saw 17 people taken to hospital after a multiple vehicle collision on the BKE involving lorries and cars about to enter Woodlands Checkpoint. Join ST's WhatsApp Channel and get the latest news and must-reads.
