A RAGS-to-riches story about an Eastleigh boy who went on to become founding chairman of the Hong Kong Stock Exchange now has a lasting memento in the railway town.

A green plaque adorns the wall of a terraced house in Eastleigh High Street commemorating it as the birthplace of Noel Croucher whose determination and endeavour enabled him to rise from poverty to a status of wealth and importance in the former colony.

The British businessman, who died in 1980, operated in Hong Kong for over 70 years and was reckoned to be the richest man east of Suez.

But his start in life was much more modest.

He was born on December 24, 1891, and was the son of railwayman Rowland Croucher who had married Flossie Stockley of Leigh Road, Eastleigh.

Sadly, Rowland died when his son was barely 18 months old. A second marriage to an Army captain saw Noel's mother and two other children move to Hong Kong. But his stepfather disappeared during a pig hunting expedition and, at the age of 15 or 16, Noel was left as the head of the household.

Having received no education, he worked as a croupier in a casino at Macau, but his career took off while working as a dogsbody in a firm of stockbrokers after offering sound advice to Sir Paul Chater during a chance meeting.

Eastleigh historian Gordon Cox arranged for the plaque to be installed on the house in High Street - formerly known as 6 Wickham Villas - and Mr Croucher's son, Richard, travelled from London to perform the unveiling ceremony.

Known as Hong Kong's quiet philanthropist, Noel resolved to use his fortune to fund the Croucher Foundation - the proceeds of which would be devoted to helping talented students of modest means have a university education.

In turn, his son Richard set up a fund in association with the Gemini Foundation to provide two scholarships to be awarded to students - one male, one female - of Eastleigh's Barton Peveril College to enable them to follow courses at Southampton University. The scholarship scheme is now in its fourth year.

Richard Croucher told the Daily Echo he thought his father would have been "appalled" at the thought of a plaque marking his birthplace. "He talked very little of his childhood. There were lots of things we only learned about after he died. He kept the past a very closed book," he added.

But John Packenham-Walsh, who is finance director of private bankers Hampshire Trust and whose family owns the High Street house, said: "In this country we too often lose our heritage.

"It's great when people who have done good things are remembered for them. I am very much behind this."

Principal of Barton Peveril College Godfrey Glyn told Richard Croucher: "It is a great honour to be associated with this - you have given this wonderful gift to the students of the college."