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Peter Lim pays $720m for Valencia
ang Meng Meng
ur years after failing to buy glish Premier League giant Liverol, Singapore billionaire Peter m’s dream of owning a football ub finally came true yesterday hen he was named the new ownof Spanish side Valencia. The former “remisier king”, who rns 61 on Wednesday, has edged 420 million euros (S$720 llion) in total, with 200 million ros to clear the La Liga club’s bts and 170 million euros to comete construction of a new stadim. All 22 members of the Valencia undation committee, which conols 70 per cent of the club’s ares, voted in favour of selling eir shares to Mr Lim, making him e first Singaporean to own a top ropean football side. “Peter Lim has completed the keover,” a Valencia spokesman d. Mr Lim said in a statement: “I m very glad to have been selected
the winning bidder after a rigorous selection process. Fans of Valencia can finally see an end to months of uncertainty. “Today’s voting, which overwhelmingly supported my bid, demonstrates a firm commitment from the stakeholders of the process, namely Bankia (Valencia’s creditor), Valencia, the Valencia Foundation and Instituto Valenciano de Finanzas (the public credit policy arm of the city of Valencia’s government). “Under the process, the winner is the bidder with the best sporting, financial and social solutions. I’m pleased that we have won on these three criteria, and I would like to thank the Board of Trustees, the Valencia fans and the city for their strong support over the past few months.” He will also spend 50 million euros for signings, of which 45 million euros were already splashed on two Benfica players – striker Rodrigo Moreno, 22, and midfielder Andre Gomes, 20. The Portuguese side sold the two
players to a company called Meriton Capital, an investment vehicle owned by Mr Lim who is estimated to be worth US$2.05 billion (S$2.6 billion) by Forbes Singapore. Moreno and Gomes are expected to be transferred to Valencia, which last won La Liga in 2004. Since then, only Barcelona and Real Madrid have won the league. Yesterday’s news marked the
end of a saga that began last Decem ber when Mr Lim’s interest in th club was made public by Valenc president Amadeo Salvo who sa then: “Lim is very passionate abo football. He has made us a propos that will clear the debt owed by V lencia to Bankia, and will invest significant amount in the first tea immediately. “It is one of the best two or thr biggest offers made for a club world football.”
Pioneers to get medical sub
rom September, hose 65 or older will ay less for visits to he doctor and dentist
lma Khalik nior Health Correspondent
ngapore’s oldest citizens will pay s when they visit the doctor or ntist from September. Their Pioneer Generation card ll entitle them to significant subdies when they need treatment the common cold or chronic ailents, as well as selected dental atments and health screening. Everyone 65 or older this year ll qualify, regardless of what they rn or where they live, and will get ese subsidies at 1,000 clinics
across Singapore. Health Minister Gan Kim Yong revealed last night that the subsidies, under the Government’s Community Health Assist Scheme (Chas), will be more generous for pioneers than for poor and middle-income families already receiving this help. The scheme is referred to commonly by the colour of the cards held by those who qualify – blue for lower-income families with a per capita household income of up to $1,100 and orange for middle-income families with a per capita income of between $1,101 and $1,800. Mr Gan said subsidies for the pioneers will be “better than orange and blue” and easy to use once their Pioneer Generation cards are activated on Sept 1. About 450,000 seniors will qualify.
For common illnesses like the cough and cold, a blue card holder gets a subsidy of $18.50 when he sees the doctor, and orange card holders get no subsidy. But a pioneer will get $28.50 per visit to the doctor. Someone with a single chronic condition like diabetes gets a subsidy of $80 per visit and up to $320 per year with a blue card, and $50 per visit and up to $200 a year with the orange card. The pioneer will get $90 per visit, and up to $360 a year. Pioneers with multiple chronic illnesses can get up to $540 a year compared with $480 for those with the blue card and $300 for orange card-holders. Mr Gan said a million people already suffer from diabetes, hypertension, high cholesterol levels and stroke. “As the population ages, we will be faced with not only a grow-
ing number of patients with chro ic diseases but also patients wi more complex co-morbiditi which will in turn place a heavi demand for health-care services he said at the World Family Do tors’ Day dinner at Marina B Sands. “This shift in disease burde calls for a strong, comprehensi and integrated people-centred p mary care.” Like those with the blue and o ange cards, pioneers who need sp cialist treatment will qualify to referred directly to a public hospit specialist at subsidised rates, wit out needing a polyclinic referral. Prime Minister Lee Hsien Loon announced last year that Sing pore’s pioneers would be reco nised for their contributions in th early days of nation-building. N all the benefits have been a nounced, but most are likely to