The 79-year-old former oil tycoon has been diagnosed with acute and chronic sinusitis, which will require surgery. - Reuters
SINGAPORE (The Straits Times/ANN): Hin Leong Trading founder Lim Oon Kuin did not show up in State Courts on Thursday morning (April 29) to face 23 new charges of forgery-related offences as he had obtained a medical certificate stating he was unfit to attend court.
As a result, Lim could not be tendered the new charges for a third time on account of his health issues.
The 79-year-old former oil tycoon - better known as O.K. Lim - was deemed unfit to attend court by his doctor as he has been diagnosed with acute and chronic sinusitis, which will require surgery.
Lim Oon Kuin, founder of oil trader Hin Leong Trading. - ST FILE
SINGAPORE (Bloomberg): Hin Leong Trading, under judicial managers from PricewaterhouseCoopers (PwC), has made an application to freeze assets, shares and funds held by its founder Lim Oon Kuin and his two children as efforts to recoup US$3.5 billion of debt from the collapsed oil trader continue.
PwC is seeking to block the sale of any private properties and removal of assets from the city state, among other measures, court filings show.
The application was motivated by a real risk of asset dissipation, even as its judicial managers made progress with the sale of assets such as Universal Terminal.