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 |  Aug 19 2011, 1:15 PM

Singapore billionaire Peter Lim has made a “significant investment” in British sports car maker McLaren, the company said. With his contribution, Lim has joined McLaren Automotive’s board with immediat effect. Forbes ranked him the eighth richest person in Singapore, with an estimated fortune of 1.8 billion.

“Peter Lim’s track record in Asia as a highly respected business leader adds further quality to our board in this highly competitive business environment at an exciting time for the company,” Ron Dennis, executive chairman of McLaren Automotive and McLaren Group, said in a statement.

Part of the reason Lim invested in the company is because demand for its new MP4-12C sports car, is strong in the Asia Pacific region, with orders that will take eighteen months of production to fill.

Interestingly, Lim put in a bid of $525.5 million to buy the Liverpool Football Club, but later withdrew the offer after the club changed ownership.

[Source: Reuters]