Legal

Court of Appeal: Hin Leong, Lim family claim ‘without any factual or legal basis’

The Lims were appealing against an earlier order to return USD 19.02 million they had transferred from Ocean Tankers, a sister company of Hin Leong.

Published

5 years ago

October 29, 2021

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The Court of Appeal of the Republic of Singapore on Thursday (28 October) dismissed the case of the founder of Hin Leong Trading, Lim Oon Kuin, and his two children, according to The StraitsTimes.

The Lims were further ordered by the two-judge Court of Appeal to pay legal cost amounting USD 42,000 to the judicial managers on indemnity basis due to unreasonable conduct, amongst others.

The Lims were appealing against an order to return USD 19.02 million (SGD 25.6 million) they had transferred from Ocean Tankers, a sister company of collapsed oil trading giant Hin Leong.

The justices on Thursday described the Lim family’s attempt as an ill-advised attempt to seek a different outcome.

“The Lims’ arguments, with respect, were simply without any factual or legal basis, given the fact that they were simply irreconcilable with the contemporaneous documents placed before the court,”according to the court.

The court said Lims’ hired expert witnesses providing reasons regarding Ocean Tankers need to be considered solvent at a specific time.

“Apart from disregarding the admissions made in affidavits by the Lims, it can hardly be doubted that this has resulted in further unnecessary litigation that has tended to obfuscate rather than to illuminate,”it states.

The lawsuit was centred on two payments from Ocean Tankers to bank transactions relating to the Lims’ before the company filed for judicial management last year.

On 3 April last year, payment transaction was made through a joint account by Lim and his daughter while a 13 April transaction was paid to his personal account. These two payments made last year from Ocean Tankers approved by the two siblings were uncovered by the judicial managers.

A summary judgement was applied by the judicial managers asking the high court to rule in their favor without a full trial.

The Lim family explained that Ocean Tankers was either insolvent or close to insolvency at the time the payments were made.

The high court stated the Lims, as directors of Ocean Tankers, owed fiduciary duties to take into account the interests of its creditors to ensure that its assets were not dissipated or exploited for their own benefit.

Earlier developments regarding Ocean Tankers can be found below:

Photo credit: Manifold Times
Published: 29 October, 2021

Winding up

Singapore: Annual general meetings scheduled for Xihe Holdings subsidiaries

Annual general meetings will be held from 1 to 2 September for An Hui Shipping, Nan Chiau Maritime and Nan Yi Maritime to receive updates on firms’ liquidation, according to notices.

Published

7 hours ago

August 17, 2026

Admin

Several notices were published on the Government Gazette on Friday (14 August) regarding the annual general meetings to be held from 1 to 2 September for Xihe Holdings subsidiaries An Hui Shipping Pte Ltd, Nan Chiau Maritime and Nan Yi Maritime Pte Ltd.

Annual general meetings for An Hui Shipping are to be held on 1 September at the following times:

For the company and creditors: 3pm

Annual general meeting for Nan Chiau Maritime is to be held on 1 September at the following time:

For the company and creditors: 2pm

Annual general meeting for Nan Yi Maritime is to be held on 2 September at the following time:

For the company and creditors: 2pm

The agenda for all the meetings are:

To receive an update on the liquidation.
To receive an account of the Liquidators’ acts and dealings, and of the conduct of the winding up.

The following are the details of the liquidator:

Ho May Kee
Liquidator
c/o 8 Marina View
#40-04/05 Asia Square Tower 1
Singapore 018960

Photo credit: Benjamin Child
Published: 17 August, 2026

Legal

Singapore police arrest eight over alleged illegal MGO transaction off Tuas

SPF says preliminary investigations found that crew members of a Singapore-registered tugboat misappropriated MGO worth about SGD 10,570 without their company’s knowledge and sold it illegally.

Published

3 days ago

August 14, 2026

Admin

Singapore police arrest eight over alleged illegal MGO transaction off Tuas

The Singapore Police Force (SPF) on Thursday (13 August) said it has arrested eight men, aged between 25 and 54, for their suspected involvement in an illegal transaction of Marine Gas Oil (MGO).

On 13 August 2026 at about 1.05am, officers from the Police Coast Guard (PCG) conducted a check on a Singapore-registered tugboat in the waters off Tuas and discovered that eight crew members were possibly involved in the illegal transaction of MGO.

“Preliminary investigations revealed that the crew members of the tugboats misappropriated MGO valued at about SGD 10,570 (USD 8,258), without their company’s knowledge,” SPF said in a statement.

“The MGO was sold illegally for their personal financial gain.”

The eight crew members will be charged in court on 14 August 2026 with the offence of theft by servant of property in possession of master under Section 381 of the Penal Code 1871 If convicted, they shall be punished with an imprisonment term that may extend to seven years and shall also be liable to fine.

“The Police take a serious view of illegal transaction of MGO in Singapore Territorial Waters and will continue to conduct enforcement and security checks to prevent, deter and detect such illicit activities in Singapore waters,” SPF added.

Photo credit: Singapore Police Force
Published: 14 August, 2026

Winding up

Singapore: Liquidators of East Marine Pte Ltd issues notice of annual meeting

Annual meeting of the company and its creditors will be held at 8 Wilkie Road, #03-08 Wilkie Edge, Singapore 228095 via audio-visual conference on 20 August at 11am.

Published

5 days ago

August 12, 2026

Admin

A notice of annual meeting was issued by liquidators of East Marine Pte Ltd, which is in creditor’s voluntary liquidation, on the Government Gazette on Friday (7 August).

According to the notice, the annual meeting of the company and its creditors will be held at 8 Wilkie Road, #03-08 Wilkie Edge, Singapore 228095 via audio-visual conference on 20 August at 11am.

The purpose of the meeting is to have an account laid before the meeting showing the acts and dealings of the liquidators and the conduct of the winding up in the preceding year.

The following are the details of the liquidators:

Ng Kian Kiat
Yap Hui Li
Liquidators
c/o 8 Wilkie Road
#03-08 Wilkie Edge
Singapore 228095

Photo credit: steve pb from Pixabay
Published: 12 August, 2026