Of late, a number of local celebrities such as Jeanette Aw, Chew Chor Meng, and Ben Yeo have set up new F&B businesses despite the ongoing pandemic. Joining the slew of home cooks and home bakers is 34-year-old actress Rebecca Lim, who has started selling homemade sourdough bread with her brother Daniel, 35. However, don't expect them to.
High Court approves move to freeze Hin Leong s founder s assets: Liquidators Toggle share menu
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High Court approves move to freeze Hin Leong s founder s assets: Liquidators
Hin Leong Trading s founder Lim Oon Kuin arrives at the State Courts, in Singapore on Apr 30, 2021. (File photo: REUTERS/Edgar Su)
24 May 2021 11:54AM Share this content
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SINGAPORE: The High Court has accepted a request to freeze up to US$3.5 billion (S$4.7 billion) of worldwide assets of Lim Oon Kuin and his two children following the collapse of Lim s oil trading firm Hin Leong Trading, the company s liquidators told creditors in an email reviewed by Reuters.
Asia PacificLim family s global assets on radar after Singapore court move
Anshuman DagaJessica Jaganathan
4 minute read
Founder of collapsed oil trading firm Hin Leong Trading Pte Ltd, Lim Oon Kuin, better known as O.K. Lim, arrives at the State Courts in Singapore April 30, 2021. REUTERS/Edgar Su
A Singapore court has approved a freeze on up to $3.5 billion of assets of the family behind collapsed Hin Leong Trading Pte Ltd, boosting the prospect of debt recovery from the former oil trading empire that counts some of the world s biggest banks among its creditors.
Hin Leong was wound up in March after failing in a year-long effort to restructure more than $3 billion in debts after the COVID-19-led oil crash laid bare huge losses. Founder Lim Oon Kuin admitted in a court document last year to directing the company not to disclose hundreds of millions of dollars in losses over several years. read more