Legal

Winson Group wins ICC backing in dispute against banks over credit for Hin Leong Trading

The company is seeking legal action against Standard Chartered Bank and OCBC over unpaid letters of credit issued in relation to Hin Leong trades, reports Reuters.

Published

6 years ago

September 16, 2020

Admin

Editor’s note [21 August 2023]: Article edited to reflect use of correct debt currency; SGD 30.4 million changed to USD 30.4 million.

Singapore-based oil trading firm Winson Group has apparently won the backing of the International Chamber of Commerce (ICC) against Standard Chartered Bank (Singapore) and Oversea-Chinese Banking Corp (OCBC) over Hin Leong Trading (HLT) related disputes, reports Reuters.

The company’s claims at the ICC were allegedly under its Documentary Instruments Dispute Resolution Expertise (DOCDEX), a dispute resolution procedure specifically designed for trade finance.

Favourable DOCDEX decisions are non-binding unless parties, in this case – OCBC and Standard Chartered Bank have all agreed.

Nevertheless, Winson Group purportedly believes this will bolster its claims in court against the two banks.

Winson Group took legal action in June against Standard Chartered Bank over an unpaid letter of credit worth USD 30.4 million issued for a diesel cargo it sold to HLT.

Court documents purportedly showed that Winson Group obtained a letter of credit from Standard Chartered in early April when it sold a cargo of ultra-low sulphur diesel to HLT.

Subsequently, when the letter of credit was due in May, the bank did not honour the payments and therefore Winson Group took action to seek damages, costs and interest from the bank.

Similarly, the company is taking action against OCBC bank for refusing to honour a letter of credit worth USD 30.4 million issued to Winson Group over a diesel trade with financially troubled Hin Leong Trading.

Photo credit: aditya-chinchure
Published: 16 September, 2020

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

Winding up

Singapore: Annual and final meetings to be held for Asia-Pacific Shipyard Pte Ltd

Annual meeting and the final 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 9 September.

Published

5 days ago

August 12, 2026

Admin

A notice of annual meeting and final meeting was issued by liquidators of Asia-Pacific Shipyard Pte Ltd, which is in creditor’s voluntary liquidation, on the Government Gazette on Friday (7 August).

According to the notice, the annual meeting and the final 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 9 September.

The annual meeting will be held at 2pm while the final meeting will be held at 3pm.

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 and the manner in which the winding up has been conducted and the property of the company has been disposed of and hearing any explanation that may be given by the liquidators.

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: Drew Beamer
Published: 12 August, 2026