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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.
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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.

Related: Winson Group seeks SGD 30.4 million from Standard Chartered over HLT related trade
Related: Winson Group seeks SGD 30.4 million from OCBC over credit pull in Hin Leong trade
Related: Winson Group and ZenRock Commodities reassure fiscal stability despite Hin Leong fiasco


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

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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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Resized benjamin child

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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Published

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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