Olivia Lum

{{Infobox person

| name = Olivia Lum

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| birth_date = 1961

| birth_place = Kampar, Perak, Malaysia

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| nationality = Singaporean

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| alma_mater = National University of Singapore

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| occupation = Group CEO & President, Hyflux Group of Companies

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| module = {{Infobox Chinese|child=yes

| s = 林爱莲

| t = 林愛蓮

|poj=Lîm Ài-liân

|tl=Lîm Ài-liân

|j = Lam{{su|p=4}} Oi{{su|p=3}} Lin{{su|p=4}}

| y = Làhm Oilìhn

| p = Lín Àilián

}}

Olivia Lum Ooi Lin is a Singaporean businesswoman. She is the founder, group chief executive officer, and president of the Singapore-based Hyflux Group.{{citation|url=https://content.time.com/time/specials/packages/printout/0,29239,1995235_1995382_1995530,00.html?iid=sr-link2|title=The Moisture Merchant: Dealing in Liquid Assets|periodical=Time Magazine|date=5 April 2004|access-date=15 January 2008|last=Lloyd-Smith|first=David}}{{citation|url=http://newpaper.asia1.com.sg/printfriendly/0,4139,132153,00.html|archive-url=https://archive.today/20071223005230/http://newpaper.asia1.com.sg/printfriendly/0,4139,132153,00.html|url-status=dead|archive-date=23 December 2007|title=Toilet was just a squat pan; Group CEO and president of Hyflux Olivia Lum recounts a childhood of extreme poverty|periodical=The Electric New Paper|publisher=Singapore|last=Lum|first=Olivia|date=4 June 2007|access-date=15 January 2008}}{{citation|periodical=Xinhua News|title=新加坡"水之女皇"林爱莲幽默随和的美丽女人/Singapore's 'Queen of Water' Olivia Lum - a humorous, amiable beauty|date=6 October 2005|access-date=15 January 2008|last=Zhang|first=Lihong|language=zh|url=http://news.xinhuanet.com/world/2005-10/06/content_3587618.htm|url-status=dead|archive-url=https://web.archive.org/web/20071204164449/http://news.xinhuanet.com/world/2005-10/06/content_3587618.htm|archive-date=4 December 2007}}{{Cite web |title=SUSTAINABLE SOLUTIONS THAT TRANSFORM LIVES |url=https://www.hyflux.com/wp-content/uploads/2016/07/HyfluxFactSheet_Jun-2016.pdf |url-status=dead |archive-url=https://web.archive.org/web/20170716150020/https://www.hyflux.com/wp-content/uploads/2016/07/HyfluxFactSheet_Jun-2016.pdf |archive-date=16 July 2017 |access-date=18 March 2022 }}

Early life

Lum was adopted at birth, and never knew her biological parents; she was brought up by a woman she called her "grandmother". When Lum was only three, her grandmother gambled away her savings; they lost the house in which they were living, and moved to a shack without running water. She came to Singapore at the age of 15 and enrolled at the Tiong Bahru Secondary School, where she supported herself through tutoring and sales jobs. She went on to study at Hwa Chong Junior College and graduated in 1986 with an Honours degree in chemistry from the Faculty of Science of the National University of Singapore.

Career

Lum started corporate life as a chemist with Glaxo Pharmaceutical. After working for three years at Glaxo, she left in 1989 at the age of 28 to start up Hydrochem,{{Cite web |title=Former HR manager of Hyflux subsidiary Hydrochem charged with corruption |url=https://www.channelnewsasia.com/business/hyflux-subsidiary-hydrochem-corruption-former-hr-manager-646236 |access-date=2023-01-27 |website=CNA |language=en}} the precursor to Hyflux, with just SG$20,000 of capital, which she raised by selling her condominium and car. She hired three employees at the start; Lum herself rode around on a motorcycle selling her company's water filters and treatment chemicals. By January 2001, Hyflux had become the first water treatment company to be listed on SESDAQ, and was upgraded to the Singapore Exchange's Mainboard in April 2003.{{Cite news |last=Pek |first=Tiong Gee |date=2 September 2021 |title=Hyflux: Down the slippery slope |work=The Edge |url=https://www.theedgesingapore.com/issues/1000th-issue/hyflux-down-slippery-slope}} She got the Her World Woman award of the Year in 2002 for her contributions to Singaporean water.{{Cite web |date=2002-08-17 |title=Her World Woman of the Year 2002: Olivia Lum |url=https://www.herworld.com/pov/people/olivia-lum-woman-of-the-year-2002 |access-date=2024-11-10 |website=Her World Singapore |language=en-SG}} By 2005, she had a net worth of over US$240 million, which earned her a place as the only woman on Forbes' "Southeast Asia Rich List".

Lum holds several positions in public service. She is a board member of SPRING Singapore, the National University Singapore Council, and the Singapore Exchange, as well as the president of the Singapore Water Association. She is also a member of the UNESCAP Business Advisory Council and the Singapore Green Plan 2012 coordinating committee.{{cite web |url=http://science.nus.edu.sg/alumni/science-alumni-awards/distinguished-science-alumni/30-alumni-and-careers/alumni/453-dsa-2005-lum-ooi-lin-olivia |title=DSA 2005 LUM Ooi Lin Olivia |website=science.nus.edu.sg |url-status=dead |archive-url=https://web.archive.org/web/20170316163107/http://www.science.nus.edu.sg/alumni/science-alumni-awards/distinguished-science-alumni/30-alumni-and-careers/alumni/453-dsa-2005-lum-ooi-lin-olivia |archive-date=16 March 2017}} Lum was a Nominated Member of Parliament in the Parliament of Singapore from 2 July 2002 to 1 January 2005.{{Cite web |title=Lum Ooi Lin "Olivia" |website=Bloomberg News |url=https://www.bloomberg.com/profile/person/3875194}} In 2003, she was awarded the International Management Action Award, followed by the Global Female Invent and Innovate Award the following year.{{citation|last=Subramaniam|first=Shivaranjani|date=22 June 2009|chapter=Olivia Lum|title=Singapore Infopedia|access-date=21 July 2009|chapter-url=http://infopedia.nl.sg/articles/SIP_1535_2009-06-23.html|publisher=National Library of Singapore|url-status=dead|archive-url=https://web.archive.org/web/20090723060237/http://infopedia.nl.sg/articles/SIP_1535_2009-06-23.html|archive-date=23 July 2009}}

On 3 October 2008, Lum resigned her position as independent non-executive director of the Singapore Exchange and relinquished her position on the audit, regulatory conflicts and remuneration committees of the Exchange, according to the Exchange's filing. She stated this was due to her heavy work commitments in line with Hyflux's rapid expansion, and that her resignation would enable her to focus more time and resources on Hyflux's growth.{{citation|last=Lee|first=Jamie|title=Hyflux chief to leave SGX board|location=Singapore|periodical=Business Times|date=9 September 2008}}

In 2011, Lum was named Ernst & Young World Entrepreneur Of The Year and was the first woman to win the award.{{Cite web |date=2011-06-06 |title=Olivia Lum is first woman to win Ernst & Young World Entrepreneur Of The Year Award |url=https://sbr.com.sg/markets-investing/more-news/olivia-lum-first-woman-win-ernst-young-world-entrepreneur-year-award |access-date=2023-03-30 |website=Singapore Business Review |language=en}}

In 2013, Lum was appointed to the board at International Enterprise Singapore.{{Cite web|url=http://www.asiaone.com/business/hyfluxs-olivia-lum-appointed-ie-singapore-board|title = Hyflux's Olivia Lum appointed to IE Singapore board|date = 30 April 2013}}

In 2014 she was appointed the board of Singapore Technologies Engineering (ST Engineering). In 2018, Lum resigned from this position citing business commitments as her reason for resignation.{{Cite web|last=CHIA|first=YAN MIN|date=22 March 2018|title=Hyflux's Olivia Lum to retire from ST Engineering board due to business commitments|url=https://www.businesstimes.com.sg/companies-markets/hyfluxs-olivia-lum-to-retire-from-st-engineering-board-due-to-business-commitments}}

In 2016, she became a laureate of the Asian Scientist 100 by the Asian Scientist.{{cite web |url=https://www.asianscientist.com/as100/ |title=The Asian Scientist 100 |author= |date= |website= |publisher= Asian Scientist |access-date= 13 March 2025 |quote= |language= }}

In May 2018, Hyflux applied to the Singapore High Court for a 30-day protection against creditor claims to allow the company time to reorganize its liabilities.{{Cite news|url=https://www.straitstimes.com/business/companies-markets/hyflux-seeks-court-protection-to-reorganise-debt-pile|title = Hyflux seeks court protection to reorganise debt pile| newspaper=The Straits Times |date = 23 May 2018 | last1=Hwee | first1=Tan Hwee }} Following this voluntary filing, Lum announced a series of three townhall meetings with the company's 50,000 plus retail shareholders.{{Cite web |url=https://www.channelnewsasia.com/news/business/hyflux-founder-ceo-olivia-lum-to-attend-townhall-meetings-with-10456224 |title=Hyflux founder-CEO Olivia Lum to attend townhall meetings with shareholders next month - Channel NewsAsia |access-date=1 August 2018 |archive-date=1 August 2018 |archive-url=https://web.archive.org/web/20180801155208/https://www.channelnewsasia.com/news/business/hyflux-founder-ceo-olivia-lum-to-attend-townhall-meetings-with-10456224 |url-status=dead }} In July, Lum announced that efforts would be made to “ensure that the company stays viable.” Lum also noted that Hyflux had total debt of $1.17 billion.{{Cite news|url=https://www.straitstimes.com/business/ceo-olivia-lum-says-hyflux-has-total-debt-of-295-billion-and-is-in-talks-with-8-bidders-for|title=CEO Olivia Lum says Hyflux has total debt of $2.95b and is in talks with 8 bidders for Tuaspring plant|newspaper=The Straits Times |date=19 July 2018}}

In December 2022, it was reported that Hyflux was claiming damages exceeding S$690.6 million from Lum in a civil lawsuit alleging negligence and breach of fiduciary duty.{{Cite news|url=https://www.businesstimes.com.sg/companies-markets/capital-markets-currencies/hyflux-sues-olivia-lum-more-s690-million-over-alleged|title=Hyflux sues Olivia Lum for more than S$690 million over alleged negligence, fiduciary duty breach|newspaper=The Business Times |date=22 December 2022}}

Criminal Charges

On 17 November 2022, Lum, ex-CFO Cho Wee Peng and four other former board members were charged with violations of Singapore's Securities and Futures Act.{{cite web|last=Leong |first=Grace|date=17 November 2022|title=Ex-Hyflux CEO Olivia Lum, ex-CFO and four others charged with violations of Securities and Futures Act|url=https://www.straitstimes.com/business/ex-hyflux-ceo-olivia-lum-ex-cfo-and-four-others-charged-for-violations-of-securities-and-futures-act|access-date=2023-05-04|website=www.straitstimes.com}} On 5 May 2023, Singapore's State Court added three additional charges against Lum, citing violations of the Companies Act related to an allegation that she failed to exercise diligence in the discharge of her duties as a director. Lum faces a potential jail term of up to two years, a maximum fine of S$150,000, or both.{{cite web|last=Leong |first=Grace|date=5 May 2023|title=Hyflux founder Olivia Lum faces 3 more charges, independent director Lee Joo Hai arrested and charged|url=https://www.straitstimes.com/business/hyflux-founder-olivia-lum-faces-3-more-charges-independent-director-lee-joo-hai-arrested-and-charged#:~:text=Lum%20was%20first%20charged%20in,the%20Securities%20and%20Futures%20Act.|access-date=2023-05-04|website=www.straitstimes.com}}