Hin leong owner. SINGAPORE – The dramatic downfall of...

  • Hin leong owner. SINGAPORE – The dramatic downfall of fabled oil trading giant Hin Leong in 2020, which sent shockwaves through the oil community and was followed by four years of intense legal battles in the Lim founded Hin Leong Trading in 1963 at age 20 with a single truck delivering diesel to fishermen and small rural power producers. Hin Leong’s founder, Lim Oon Kuin, and his two children were declared bankrupt on Dec 19, the electronic government gazette published on Dec 27 showed. , a ship owner linked to troubled Singapore oil trader Hin Leong and its founder’s family, has been placed under interim judicial management, The Business Times reported SINGAPORE: The founder of collapsed oil trading firm Hin Leong Trading, who is accused of instigating forgery and cheating a bank in a US$111. His two children, Lim Huey Ching and Lim Chee Meng, both directors of the company, have also been issued with a bankruptcy order, according to a government gazette. Read more from Reuters. 7 million (S$148. Better known in the oil Oct 24, 2025 · SINGAPORE: The founder of failed oil trading firm Hin Leong Trading, 83-year-old Lim Oon Kuin, mounted an appeal against his conviction in a criminal case on Friday (Oct 24). But above all, it shows that Mr Lim was willing to bet, and bet big, in the loosely regulated and opaque HIN Leong’s founder Lim Oon Kuin and his two children were declared bankrupt last week, the electronic government gazette published on Friday (Dec 27) showed. He is separately facing a civil suit The collapse of Singapore s largest homegrown oil trader Hin Leong, and its sister company Ocean Tankers, removed one of the biggest regional suppliers of marine bunker fuel, gasoline and gasoil from ONCE a giant in Singapore’s oil trading industry, the collapse of Hin Leong Trading (HLT) exposed a web of fraud, forgery and financial mismanagement. SINGAPORE - The wife of convicted Hin Leong Trading founder Lim Oon Kuin has quietly put up for sale her good class bungalow (GCB) in Queen Astrid Park for $100 million. ) Ltd. 7 million OK Lim was still the "big boss" of oil trader Hin Leong and had instructed employees to prepare documents with the intent to deceive HSBC, a judge found. The 999-year leasehold ONCE a giant in Singapore’s oil trading industry, the collapse of Hin Leong Trading (HLT) unveiled a web of fraud, forgery and financial mismanagement. The name of the founder of Hin Leong Trading Pte and his children Lim Huey They filed the application on behalf of Ocean Tankers and Hin Leong Trading. Lim, and his two children approached its conclusion with the trio agreeing to pay USD 3. Hin Leong collapsed in 2020 after revealing it had suffered huge undisclosed losses, leading to court-appointed judicial managers unravelling… Jan 7, 2025 · ONCE a giant in Singapore’s oil trading industry, the collapse of Hin Leong Trading (HLT) exposed a web of fraud, forgery and financial mismanagement. 5 billion to liquidators and top creditor HSBC. Singapore's High Court on Monday approved an application to wind up collapsed oil trading firm Hin Leong Trading Pte Ltd, marking the end of what was once one of Asia's top oil traders, three The collapse of Hin Leong Trading in 2020 led to a mass sell-off of the Lim family’s assets, including a large fleet of tankers, an oil storage terminal in Singapore and private luxury homes. He grew the business to become one of Singapore's largest independent oil traders. 1, IMO 9140619? Who is the ship manager, ISM manager, P&I Club, Classification Society, Contact Details? The 81-year-old founder of collapsed oil trading firm Hin Leong Trading Pte Ltd went on trial in Singapore on Tuesday accused of forgery and cheating HSBC out of $111. Hin Leong Trading was a commodity trading corporation [1] registered and headquartered in Singapore that was founded in 1963 by Lim Oon Kuin. SINGAPORE - Six residential properties in Singapore and three in Australia belonging to the Lim family behind insolvent Hin Leong Trading are among assets frozen by the High Court to recoup US$3. The rise and fall of Hin Leong is a tale of humble beginnings, business acumen, and luck. The decision follows allegations of concealing massive losses at Hin Leong. SINGAPORE (THE BUSINESS TIMES) - Running out of luck with creditors and facing mounting distress, Singapore's giant oil trader Hin Leong Trading (HLT) - and its sister company Ocean Tankers The 82-year-old Lim had founded Hin Leong Trading Pte, and his daughter and son are directors of the company. REUTERS/Edgar Su Singapore Big Four law firm Drew & Napier has successfully represented liquidators in securing a $3. Our strong regional presence is built on a synergized approach which involves: • oil trading • terminalling and storage • bunker supply • lubricants and greases Further, on March 20 and 23, 2020, Ms Soh allegedly sent e-mails to HSBC in support of another discounting application concerning a purported sale of oil by Hin Leong to Unipec, for which Unipec The application, filed on Jan 15 by Hin Leong’s court-appointed liquidators from PwC, follows a landmark 2024 civil judgement in which Hin Leong founder Lim Oon Kuin – better known as OK Lim – and his children were ordered to pay US$3. and his children Lim Huey Lim, who is also known as OK Lim, founded Hin Leong Trading in 1963 at a young age of 20. OCBC files to appoint judicial managers to another related entity XiHe Holdings, a giant fleet SINGAPORE - The High Court has given the green light for the winding up of Hin Leong Trading, marking the end of the road for the collapsed oil trading giant after nearly a year of restructuring (Bloomberg) – A Singapore court has sentenced oil tycoon Lim Oon Kuin to 17-and-half years in jail for cheating HSBC Holdings and instigating forgery, in a case that has shaken the city-state’s commodity-trading community. | 2,265 followers on LinkedIn. 5 years' jail over a cheating case involving at least S$150 million. 5 billion) to the SINGAPORE: Lim Oon Kuin, the elderly founder of collapsed oil trading firm Hin Leong Trading, was on Monday (Nov 18) sentenced to 17-and-a-half years in jail in a cheating case involving at least A Singapore court has approved a freeze on up to $3. Xihe Holdings (Pte) Ltd. The 82-year-old founder of Hin Leong Trading, who has appeared for court SINGAPORE (BLOOMBERG) - The troubles facing Singapore oil trading firm Hin Leong deepen as the police have started investigating the company. SINGAPORE – In a surprising twist, Hin Leong founder Lim Oon Kuin and his two children, Evan Lim Chee Meng and Lim Huey Ching, have agreed to pay US$3. PricewaterhouseCoopers (PwC), the court-appointed judicial managers of Singapore oil firm Hin Leong Trading (Pte) Ltd, has placed a notice in local media for the sale of an "independent bunker The founder of collapsed Singaporean oil trading firm Hin Leong Trading Pte Ltd was sentenced to 17-1/2 years in prison on Monday for cheating global bank HSBC and abetting forgery, local media It appears Hin Leong can’t catch a break. 7 million) case, will testify in his Stung by the collapse of Asia's top independent oil trading firm, some global banks have teamed up to seek the personal assets of the family behind Hin Leong Trading, which has left creditors on Who is the owner of HIN LEONG NO. Established in Singapore in 1963, Hin Leong is an integrated downstream energy group offering a comprehensive and efficient mix of resources to the global market. Dec 27, 2024 · SINGAPORE – Hin Leong’s founder, Lim Oon Kuin, and his two children were declared bankrupt on Dec 19, the electronic government gazette published on Dec 27 showed. 7 million. SINGAPORE – The blame game continued on the final day of a 62-day criminal trial of Hin Leong founder Lim Oon Kuin. Hin Leong Trading (HLT) totters on liquidity crunch after oil's historic crash caused by the pandemic and a price war between oil giants. 5 billion (S$4. SINGAPORE: Hin Leong founder Lim Oon Kuin, 82, will be assessed by a medical officer in prison if he fails in his appeal against his conviction over three charges of cheating and forgery, and a LIM Oon Kuin, better known as OK Lim, has taken the stand for 11 days to testify in his own criminal trial. 5 billion judgment Hin Leong, the distressed Singapore oil trader that has admitted to $800m of undisclosed losses, is seeking to appoint PwC as an independent manager to run the business as it pursues a debt Stung by the collapse of Asia's top independent oil trading firm, some global banks have teamed up to seek the personal assets of the family behind Hin Leong Trading, which has left creditors on . HLT is placed under JM. Here’s how it all went south for the once-iconic oil trader and… SINGAPORE - The judicial managers (JMs) of insolvent Hin Leong Trading have scored a legal victory in the High Court to freeze the Lim family's assets worldwide in their bid to recoup US$3. 5 billion in alleged debt and US$90 million in dividends. The 50-day trial involving Founder of Hin Leong Trading, Lim Oon Kuin, also known as O. Founder of collapsed oil trading firm Hin Leong Trading Pte Ltd, Lim Oon Kuin, better known as O. Hin Leong is an integrated downstream energy group offering a comprehensive and efficient mix of resources to the global market. 5 Hin Leong founder Lim Oon Kuin, his son Evan Lim and daughter Lim Huey Ching have declared bankruptcy, according to a notice published in Singapore’s government gazette. The downfall of Hin Leong Trading, one of the biggest and most secretive forces in the world of physical fuel-oil trading, shows the depth of the fallout from the dramatic drop in oil prices. Lim, who is better Nov 18, 2024 · Lim Oon Kuin, 82, who is the founder of collapsed oil trading firm Hin Leong Trading, was sentenced to 17. LIM Oon Kuin, a former oil tycoon and founder of collapsed oil trader Hin Leong Trading, was on Friday (May 10) convicted of three criminal charges after a trial that ran more than 60 days in the State Courts. Lim and his sister are directors of both companies. The case thus takes a dramatic turn, reveals a court document WPO is in possession of. Two charges against the 82-year-old former billionaire pertained to cheating HSBC, and the SembCorp Cogen buys fuel from Hin Leong and maintains a stockpile at Hin Leong’s Universal Terminal. Singapore's High Court on Monday approved an application to wind up collapsed oil trading firm Hin Leong Trading Pte Ltd, marking the end of what was once one of Asia's top oil traders, three SINGAPORE - A third good class bungalow (GCB) belonging to convicted Hin Leong founder Lim Oon Kuin has been put up for sale for $43 million, just seven months after his bungalow in the prime The Hin Leong scandal rocked the Singapore trading community earlier this year, topping many earlier bankruptcies in the commodities space in terms of financial losses. [2] Nov 18, 2024 · The founder of commodity trader Hin Leong has been sentenced to more than 17 years in prison for his role as “mastermind” of a trade finance fraud scheme that sent shockwaves through the trade finance sector. 5 billion of assets of the family behind collapsed Hin Leong Trading Pte Ltd, boosting the prospect of debt recovery from the former oil trading Hin Leong had suffered about US$808 million in losses from futures and swaps from 2010 to 2020, with the losses allegedly concealed by overstating profits by US$2. K. Better known in the oil trading industry as OK Lim, the 82-year-old, his 57-year-old daughter Lim Huey Ching and 54-year-old son Lim Chee Former oil tycoon Lim Oon Kuin and his children, Lim Huey Ching and Evan Lim Chee Meng, have been declared bankrupt. Three of these charges have proceeded to trial. 5 years’ imprisonment for three charges concerning the cheating of Hongkong and Shanghai Banking Corporation Limited (“HSBC”) into disbursing funds of USD 111,683,939 relating to two fraudulent discounting applications. Former tycoon Lim Oon Kuin has been declared bankrupt in Singapore, following the collapse of his oil trading empire. 1 billion in the same period. Among questions raised is whether he or his former personal assistant Serene THE BUSINESS TIMES Hin Leong - Find Hin Leong News & Headlines, insight and analysis in Singapore, Asia-Pacific & global markets news at The Business Times. With a strong regional presence established in Singapore since 1963, we provide a synergized approach that includes oil trading, terminalling and storage, bunker supply, lubricants and greases manufacturing, inland In a highly unusual statement, Lim Chee Meng reveals that his father, the owner of crisis-stricken oil trading group Hin Leong Trading, hid losses totaling USD 800 million. 7 billion) judgment against them was formalised in September. On Tuesday (May 12), Ocean Tankers, a subsidiary of the scandal-plagued Hin Leong Trading had reportedly filed for judicial management. The actions are the latest in a series stemming from the collapse earlier this year of Hin Leong and Ocean Tankers, both of which were placed under court-appointed supervisors. Read more at The Business Times. The probe, which the Singapore Police Force confirmed The Ban Hin Leong Group suggested that one of the contractors, Yongnam Holdings, purchase a floor, and that it set off the value of its work against the sale price of the floor. Founder Lim Oon Kuin – better known as OK Lim – was declared a bankrupt and also jailed 17 years. OK Lim, as he is also Dec 31, 2024 · THE founder of the now-collapsed Singapore -based oil trader Hin Leong, Lim Oon Kuin, has been declared bankrupt. According to a On 18 November 2024, Lim Oon Kuin (“Lim”), founder of Hin Leong Trading (Pte) Ltd (“Hin Leong”) was sentenced to a total of 17. 5 billion to the liquidators of the Singapore-based defunct oil trading company Hin Leong Trading, according to The Straits Times on Tuesday (1 October). Lim, arrives at the State Courts in Singapore April 30, 2021. Get the insights delivered to your inbox. One of Singapore's largest independent oil traders, the firm collapsed in 2020 amid allegations of $800 million in undisclosed losses. Hin Leong Trading (Pte. The founder of fallen oil trader Hin Leong was charged with 130 counts of forgery and/or cheating. Citing “national security” reasons, SembCogen, in an email on April 15, asked Hin Leong to consolidate its stockpile of 110,000 cubic metres of fuel worth $94 million into three dedicated storage tanks and prevent commingling with fuel [SINGAPORE] Stung by the collapse of Asia's top independent oil trading firm, some global banks have teamed up to seek the personal assets of the family behind Hin Leong Trading, which has left credit Read more at The Business Times. The liquidators of Hin Leong are seeking a court order to force Lim Oon Kuin (above), his son and his daughter to repay US$3. A US$3. 5 SINGAPORE: Prosecutors are seeking 20 years' jail for the founder of collapsed oil trading firm Hin Leong Trading Lim Oon Kuin, for cheating a bank and abetting forgery involving US$111. The name of the founder of Hin Leong Trading Pte. 3j8az, rhiq, be3s, okht, kxsub, dhvx, h7nr2h, bwajt, dtla, uuwes,