spot as Asia's Businessman of the Year in January 2001 by Fortune Magazine. At age 45, he became the youngest billionaire in Singapore. He was also the first person to be named Singapore's Businessman of the Year twice, in 1992 and 1997. In 2002, he was named Person of the Year by the Singapore Computer Society in recognition of his contribution to the IT industry. Sim was considered to be one of the most famous entrepreneurs of Singapore, and formerly chaired Singapore's Technopreneurship 21 Private Sector Committee. In 1999, Sim released a book entitled Chaotic Thoughts From The Old Millennium, in which he coined and popularised the term "No U-turn syndrome" to describe the stereotypical Singaporean mindset of requiring permission from higher authorities before taking any action. Personal life Sim had given contrarian advice to budding entrepreneurs, one of which is to not get married. He explained that when one gets married and has family, he or she would have family commitments and be less able to take risks. He added that being a bachelor allowed him to take more risks, which resulted in extraordinary results for him. Sim died on 4 January 2023. Acquaintances did not notice any difference before his death; his family said that he "passed away peacefully." References External links Creative Technology, "ZEN Patent" Press Release, "Creative Announces Q3 FY06 Financial Results" Google Finance, Creative Technology Ltd Biography and Image Gallery of Sim Wong Hoo 1955 births 2023 deaths 20th-century Singaporean businesspeople Singaporean inventors Singaporean people of Hokkien descent Ngee Ann Polytechnic alumni Recipients of the Bintang Bakti Masyarakat 21st-century Singaporean businesspeople Singaporean business executives Singaporean billionaires 20th-century inventors 21st-century inventors People of British Singapore