Singapore billionaire Peter Lim has made a “significant investment” in UK-based sports car maker McLaren Automotive, the automaker said.

Lim, who earned the nickname “Remisier King” in the city-state, has joined McLaren Automotive’s board with immediate effect, Reuters reported.

Forbes Asia recently ranked him number eight on Singapore’s rich list, with an estimated fortune of US$1.8bn built mainly from investments.

“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.

The company said demand for its new McLaren sports car, the MP4-12C, is strong with retailers in the Asia Pacific region confirming orders that account for around 18 months of production.