Life Lessons From The Fallen Five Star Tours Boss

The former managing director of Five Star Tours recently filed for bankruptcy and closed down his transport company, going from tycoon to hawker’s assistant in a matter of months. After the demise of his company (which he started in 1990 with his four brothers and built from the ground up) he spent some time at home but then got back to work as (wait for it) a hawker’s assistant.

limmain

No doubt Lim’s decision to slog it out has something to do him owing backdated CPF to staff and small claims to customers who were left in the lurch. Don’t get us wrong, he ain’t no hero, but there’s definitely a few lessons to take away from this former taokay.

1. Stay Humble

stayhumble

At its peak, his company had eight outlets and even sponsored S-League team Geylang United. But that didn’t make Lim too proud to put in the long hours and work at a coffee shop drinks stall run by one of his relatives. Serving drinks for 10 hours a day is a long way from being MD in an air-conditioned office and in his own words he is “exhausted”. Perhaps Lim remembers his modest beginnings working at a biscuit factory at age 13. Still, it’s amazing that success didn’t get too his head and he was able to set his ego aside.

2. Take Threats Seriously

threats

Hindsight is always 20/20, but the opening of the casinos was not a surprise. This could have been planned and prepared for well in advance, especially considering Singapore-Genting was Five Star’s key pillar. Had strategies for alternative business incomes been in place well before the opening of MBS and Resorts World it may have lessened the blow to profits.

3. Stay and Face The Music

FaceTheMusic

Okay, unquestionably, Lim needs to sort out the CPF he owes to his former staff (many of whom are being assisted with the transition by the NTUC) and settle debts to customers who were let down. But just think back to how many directors you’ve heard about who have fled the scene as soon as business went bad. Lim sticking around and making multiple trips to the Insolvency & Public Trustee’s Office and CPF board (which, he jokes are conveniently located close to his new “office”) shows he’s willing to be accountable for his actions, and doesn’t consider himself above the law. You’ve gotta respect that.

4. Never Stop Fighting

success_kid

No one would argue that the chips are down for Lim. But his faith in himself has not been doused, “I am just waiting for my chance to go back to what I once was.” he told The New Paper. [http://www.tnp.sg/news/ex-tour-agency-boss-turned-stall-assistant-down-not-out#sthash.O3MJC3C4.dpuf]

And you know what? Somehow we believe him. If anything Lim is proof that it’s not how you fall off the horse, but how you get back on that counts. Valuable business and life lessons for all. Jia You, Mr Lim!

About the author

Sabina Fernandez

Sabina Fernandez is a Singaporean editor and yoga teacher. She has crafted content for Audi, Singtel, Conde Nast Traveller and Time Out and her most popular online article received 12,000+ views in two days.
Most recently she was an editor at Her World, Singapore’s largest women’s magazine. When not writing, she teaches regular outdoor yoga classes in the botanic gardens and by the beach.

For info about her writing visit www.sabinafernandez.branded.me or go to www.sabinafernandez.com for more about her yoga classes.

View all posts

3 Comments

  • It is good to encourage people with similar failures to pull up themselves through such real life articles. It is very inspiring and motivating.

  • Given the fact that you have had gone through the university of life and had before survived the school of hard knocks I trust you would not get yourself mired in this pit for long .Just remember that life 101 dictates that you are only down for the time being but you are not finished neither is your hope of rediscovery diminished .And once you pick up the pieces and soldier on the next chapter of rosy life will smile on you pretty soon

Share your thoughts!