Persons I Admire Series: Patricio Lim

(Published in the Philippine Business Magazine, January 2006. I interviewed these five men in between my stints at BusinessWorld and BusinessMirror)

Experience is a great teacher. There is no exchanging what one gains through the years with what one learns from books. As time passes, even as technology and new learnings bring about change, one discovers that some themes remain constant-the importance of succession planning, the value of education, the strength of partnerships, the rewards of entrepreneurship, the meaning of integrity.


Patricio L. Lim, 90, was constant in his perseverance and dedication to duty in all his endeavors Simply "P.L." to his friends, he belongs to a generation known as much for their hard work as their valor, a generation that built the country and refused to put up with inanities that would otherwise destroy it.
For Lim, who peddled clothes along San Vicente Street in turn-of-the-century Manila and lived above a goldsmith's shop, time is relative. His perception and view of time is very Chinese, extending beyond his grandchildren's lifetimes.
Not Just Doing Business
Indeed, when the 30-year-old Lim decided to quit being a medicine salesman for Zuellig to open a textile mill with equity from a friend, he was not looking at building a mere business. When he established a garments business to serve the retailers of the world, opened a carpet factory to serve the global markets, and built a world-class hotel (The Peninsula Manila, which forever changed the Makati cityscape), he did so with the knowledge that he was helping build the Philippines. He was fulfilling his generation's dream of building a nation, and carving his own legacy.
Universal Textile Mills began operating in 1953. It was the first and, at its prime, the largest integrated woven textile mill in the country, providing thousands of jobs to Filipino workers.
The Philippine Carpet Manufacturing Corporation was established in 1965 with 60 skilled employees trained by Chinese weavers in the traditional art of making fine handcrafted carpets. Today, the company has 444 craftsmen in its employ and is affiliated with the biggest and most prestigious suppliers of handmade carpets in Asia, Australia, Europe, and the U.S.
The Peninsula Manila opened in 1976 in time for the big annual meeting of the board of governors of the International Monetary Fund and the World Bank held in Manila that year.
Astute and Generous
Lim is a totally self-made man whose success can be attributed not only to incredible luck and hard work but also to an astute business sense and keen understanding of the business environment and the men and women who run it. He had his ears to the ground, such that he was able to adequately prepare his companies for the ravages of the Asian financial crisis in the late '90s. Because he preferred to finance most everything from manufacturing operations, the firms (with the one exception of The Peninsula) were free from debt when the peso plummeted. His strong adherence to that simple belief-one that financial managers would have earlier scoffed at-saved his companies from collapsing, as was the fate of debt-saddled business during that period.
P.L. Lim has always taken pride in helping countless families by doing the noble thing-providing employment. In fact, even as he complains of a failing memory, he is quick to come up with the current headcount of employees of the PLLIM Group of Companies: 3,000. His ability to create goodwill is tremendous, and yes, he loves the country dearly. "The Philippines gave me what China did not," he states.
Passing the Baton
Today, at 90, P.L. Lim is proud to have bequeathed the enterprises he built to his children. "I worked very hard before. I was involved until I was 80, so now, it is time for me to rest," he says. He always believed in hiring professional managers to oversee the business, but it is a big source of pride that the most accomplished of these managers include his own children. Although he remains chairman and president of the holding company PLLIM Investments Inc., his son, David, is now at the helm of their various business interests and sits as president of the enterprises in their group of companies. His daughter, Evelyn Lim-Forbes, is in charge of the companies' day-to-day operations as general manager. He is pleased that his children have built up what he started. "My children are running the companies very well. They understand what the business needs. I leave everything to them now, and they are doing better than me!" declares Lim, who now chooses to spend precious time in the company of his wife, Madeleine, and playing a round of golf twice a week ("with a cart," he qualifies).
Yet he remains strong and hardy, save for a bad back, and his appetite is still hearty. "I'm already 90, I was only good until I was 80," he laughs. He then motions one to look at his face and declares, "Look, no wrinkles!"
P.L. Lim still laughs a lot. He prays often and is still full of hope. He remembers friends, taking time to visit their homes or cheer them up in the hospital when they are sick, and cherishes mementos received from dear ones. He has lived a full life, and is proud to have made himself a part of others'.