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Goldsland Holdings moves in to secure US $22 million from Vermont UM Bunkering

Singapore High Court recently held an ‘Examination of Judgement’ session to determine available assets to satisfy the judgment debt, learns Manifold Times.
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7 years ago

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The High Court of the Republic of Singapore has held an ‘Examination of Judgement’ session between creditor Goldsland Holdings Company Limited [Plaintiff] and Vermont UM Bunkering Pte Ltd [Defendant] over a US $22.44 million claim, learns Manifold Times.

The recent ‘Examination of Judgement’ session in the week ended 13 January, held to determine what assets are available to satisfy to pay off a debt, is a follow up from an earlier judgement by the court on 23 March, 2018.

“No appearance having been entered by the Defendant herein, it is this day adjudged that the Defendants do pay the Plaintiff: USD22,443,995.61 and costs fixed at the sum of S$2,300,” said the earlier judgement.

Goldsland Holdings, the Hong Kong based creditor, is engaged in the businesses of bunker supply, biodiesel, overseas mining, bulk trade and property leasing, according to the legal documents.

“From time to time between the periods from 2010 to 2016, the Defendant would request the Plaintiff to provide financial assistance in respect of the Defendant’s bunkering transactions with its suppliers,” it stated.

“The Defendant would request the Plaintiff to make payment directly to the Defendant’s bunkering suppliers, for bunkers which were supplied to the Defendant.

“Pursuant to the Defendant’s requests, the Plaintiff would transfer the monies directly to the Defendant’s suppliers and make payment for and on behalf of the Defendant.

“As at 17 July 2017, the total loan amounts that were owed by the Defendant to the Plaintiff was in the sum of USD 22,443,995.61.”

Vermont UM Bunkering had its bunker supplier and bunker craft operator licence revoked by the Maritime and Port Authority of Singapore (MPA) on 28 April, 2016.

On 16 November 2017, Vermont UM Bunkering’s two directors and one former bunker manager were charged in court with 150 counts of engaging in a conspiracy to cheat customers.

The group dishonestly induced clients to make excess payments totalling over $8 million.

Vermont UM Bunkering (UEN: 200920025G) is still registered as a ‘live company’ according to the Accounting and Corporate Regulatory Authority (ACRA) during a Wednesday (16 January) check by Manifold Times.

In April 2018, Malayan Banking Berhad was seeking to liquidate a total US $38.3 million under Mortgagee’s Claim from Vermont UM Bunkering affiliated firm Vermont UM Shipping.

Related: Singapore: Four bunker tankers arrested
Related: Bank seeks $38 million from arrested Singapore bunker tankers

Photo credit: Manifold Times
Published: 16 January, 2019
 

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Winding up

Singapore: Final meeting scheduled for Tiger LNG Shipping Pte Ltd

Meeting will be held on 29 June at 190 Middle Road #17-05 Fortune Centre Singapore 188979 to hear any explanation that may be given by the liquidator, according to Government Gazette notice.
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2 days ago

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June 2, 2026

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RESIZED Jo_Johnston from Pixabay

The final meeting for Tiger LNG Shipping Pte Ltd has been scheduled to take place on 29 June, according to the company’s liquidators on a notice posted on Friday (29 May) on the Government Gazette.

The meetings will be held at 10.30am at 190 Middle Road #17-05 Fortune Centre Singapore 188979. 

The meeting is being held for the purpose of having an account laid before the meeting showing the manner in which the winding up has been conducted and the property of the company disposed of, and of hearing any explanation that may be given by the liquidator.

The following are the details of the liquidator:

LUM CHI LUP BENNY
c/o 190 Middle Road
#17-05 Fortune Centre
Singapore 188979

 

Photo credit: Jo_Johnston from Pixabay
Published: 2 June, 2026

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Winding up

Singapore: Annual general meetings scheduled for Xin Guang Shipping and An Xing Shipping

Annual general meeting of the company and creditors for An Xing Shipping and Xin Guang Shipping will be held by electronic means on 11 June and 12 June respectively.

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1 week ago

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May 28, 2026

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Several notices were published on the Government Gazette on Tuesday (26 May) regarding the annual general meetings of the companies and creditors to be held electronically from 5 to 6 May for Xin Guang Shipping Pte Ltd and An Xing Shipping Pte Ltd. 

Annual general meeting for Xin Guang Shipping are to be held on 12 June at the following times:

  • Annual general meeting of the Company at 2pm
  • Annual general meeting of the creditors of the Company at 3pm

Annual general meeting for An Xing Shipping are to be held on 11 June at the following times:

  • Annual general meeting of the Company at 2pm
  • Annual general meeting of the creditors of the Company at 3pm

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: 28 May, 2026

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Winding up

Singapore: Notice of intended dividend issued for Xihe Capital Pte Ltd

Xihe Capital Pte Ltd and its subsidiaries are owned by the Lim family, who are also the owners of the embattled Hin Leong Trading.
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1 week ago

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May 25, 2026

By

RESIZED Drew Beamer

A notice to declare the intended dividend of Xihe Capital Pte Ltd to its creditors has been posted on the Government Gazette on Wednesday (15 April).

Xihe Capital Pte Ltd and its subsidiaries are owned by the Lim family, who are also the owners of the embattled Hin Leong Trading.

The following are the details of the notice of intended dividend:

Name of Company : XIHE CAPITAL (PTE.) LTD. (IN CREDITORS’ VOLUNTARY LIQUIDATION)

Unique Entity No. / Registration No. : 201727410K

Address of Registered Office : 10 ANSON ROAD, #10-10, INTERNATIONAL PLAZA SINGAPORE 079903

Last Day for Receiving Proofs : 5 June 2026

Name of Liquidator : TAM CHEE CHONG

Address : c/o 10 ANSON ROAD, #10-10, INTERNATIONAL PLAZA SINGAPORE 079903

 

Photo credit: Drew Beamer
Published: 25 May, 2026

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