VALENCIA - Singaporean billionaire Peter Lim, who owns Spanish La Liga club Valencia, has given his first video interview.

Famously media shy, Mr Lim reviewed his first year as an owner, spoke about his long-term goals for the club, explained the reasons for appointing Gary Neville as the new manager, and wished fans a Merry Christmas in a 10-minute video posted on the club's website on Wednesday (Dec 23) evening.

He said: "In the first year, I think what made me happiest is that the financial stability of the club is very, very clear. The system is there. I think we are still on the way, but I think definitely this is our biggest achievement.

"We have stabilised the situation with the banks and with all the creditors, and the cashflow position of the club. And I think the best thing we did was to be able financially to put the club in the position to compete at a high level."

Outlining his goals for Valencia, currently ninth in La Liga, Mr Lim stressed that his priority is to bring stability to the club, to balance its books as well as keep the team competitive.

"Of course, my long-term goal for this club is put ourselves in a position where we can compete at a very high level every year, without stressing the system," he said.

On Dec 2, former Manchester United right-back Gary Neville, a friend of Mr Lim's, was appointed as the club's new manager after Nuno Espirito Santo resigned. The Singaporean was keen to point out it was a football decision.

He explained: "I picked Gary not because he is a good friend; Gary is a good coach, who happened to be a friend. I think that has to be very clear to everyone.

"I look at him, he has got the potential in him, I knew him for a while and his football knowledge is tremendous."