Business

Xihe Holdings liquidators request scheme creditors to submit proof of debt

Deadline to submit a proof of debt for parties claiming to be creditors of the company is scheduled to take place on 31 December 2021 before 5:00 pm.

Published

5 years ago

December 9, 2021

Admin

The deadline to submit a proof of debt (POD) for parties claiming to be creditors of Xihe Holdings (Pte) Ltd (Judicial Managers Appointed) is scheduled to take place on 31 December before 5:00 pm, according to a Wednesday (8 December) notice posted on the Government Gazette.

The copies of the Scheme Document have been sent:

by registered post as is appropriate to the scheme creditors for whom the company has an address, which address the Company understands to be the last known address of that scheme creditor; and/or
by electronic mail to the scheme creditor for whom the company has an email address, which email address the company understands to be last known email address of that scheme creditor or any director, employee, agent or representative of that scheme creditor; save that, where there are potential restrictions on sending the scheme document to any overseas jurisdiction, the company shall not send the scheme document to the scheme creditors in such overseas jurisdiction.

The company is requesting scheme creditors to begin submitting their proofs of debt, together with all supporting documents (including but not limited to contracts, invoices, purchase orders, delivery notes etc.). In the circumstances, insofar as claims are made for interest or other such amounts, please submit the calculations and/or any supporting documents which were used to derive the amounts payable.

Additional copies of the scheme document may be obtained by the scheme creditors writing in to [email protected] before collection from the office of the company at 8 Marina View Asia Square Tower 1, #40-04/05 Singapore 018960 during normal business hours on any day (other than a Saturday, Sunday or public holiday) prior to the day appointed for the POD Deadline.

A Scheme Creditor in an overseas jurisdiction may also write to the company at Specified Email Address or Specified Address to request for the Scheme Document to be sent to an address by ordinary post, or via email specified by the Overseas Scheme Creditor, up to seven days prior to the POD Deadline at such Scheme Creditors’ own risk.

If creditors have already submitted their proof of debt, they do not need to do so again, unless they wish to revise it. For the avoidance of doubt, the revised Proof of Debt must be received by the Judicial Managers.

Subject to the adjudication of the claim(s), the Judicial Managers will use the Proof of Debt submitted for the purpose of participating and voting on the Scheme.

Any Scheme Creditor who fails to submit a duly completed Proof of Debt within the period prescribed in the notice will not be allowed to vote (whether in person or by proxy) on the scheme and will not be entitled to any distribution, payments or benefits under the scheme (unless so admitted at the discretion of the Chairman / Scheme Manager) but shall, nonetheless, be bound by the terms of the scheme in the event it becomes effective, and shall have its claim compromised or waived under the terms of the scheme.

Scheme creditors are requested to provide written irrevocable consent to the Scheme on 20 January 2022 at 5:00 pm.

The company will give notice of application for sanction of the Scheme (if the requisite majorities of Scheme Creditors approve the Scheme) and will provide further instructions regarding other information and documents required in connection with the scheme.

Photo credit: Drew Beamer
Published: 9 December, 2021

Legal

Singapore withdraws remaining 127 charges against Hin Leong founder OK Lim

Lim Oon Kuin, also known as OK Lim, was issued a stern warning and a district court granted him a discharge amounting to an acquittal for these charges on 17 July.

Published

17 hours ago

July 21, 2026

Admin

Founder of collapsed oil trader Hin Leong Trading, Lim Oon Kuin, also known as OK Lim, has had the remaining 127 charges against him withdrawn, according to The Straits Times on Monday (20 July).

OK Lim was issued a stern warning and a district court granted him a discharge amounting to an acquittal for these charges, including those for cheating, on 17 July. The discharge means Lim cannot be prosecuted again for the same offences.

Lim, 84, is currently serving a 13½-year prison sentence after the High Court reduced his original 17½-year jail term in March 2026. He was convicted in 2024 on two cheating charges and one count of abetting forgery in a case prosecutors described as one of Singapore’s most serious trade finance frauds.

Lim was convicted in May 2024 of two charges of cheating the Hongkong and Shanghai Banking Corporation (HSBC) and one count of abetting forgery that proceeded to trial out of a total of 130 criminal charges.

He was first charged in court on 14 August 2020, and was subsequently handed further charges in court on 25 September 2020, 30 April 2021 and 24 June 2021 for his role in perpetuating fraud on various financial institutions.

A total of 130 charges were eventually brought against him for cheating and forgery-related offences.

Photo credit: Sora Shimazaki
Published: 21 July, 2026

Winding up

Singapore: Coastal Logistics Pte Ltd to be wound up voluntarily

Coastal Logistics was reportedly affiliated with troubled Singapore bunker player Coastal Oil (Singapore) Pte Ltd.

Published

18 hours ago

July 21, 2026

Admin

Several resolutions for Coastal Logistics Pte Ltd were made during an extraordinary general meeting held on 14 July, according to a notice in the Government Gazette on Friday (4 July).

The following resolutions were duly passed during the meeting:

As Special Resolution

That it has been proved to the satisfaction of the meeting that the Company cannot by reason of its liabilities continue its business and accordingly the Company be wound up voluntarily pursuant to Section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018 (No. 40 of 2018);

As Ordinary Resolutions

that Mr. Wong Pheng Cheong Martin and Ms. Koay May Yee, both care of FTI Consulting (Singapore) Pte Ltd, One Raffles Quay, #27-10 South Tower, Singapore 048583 be appointed as the joint and several Liquidators of the Company for the purpose of such winding up; and
that the Liquidators be at liberty to open, maintain and operate any bank account(s) or account(s) for monies received by them as Liquidators with such bank(s) as they deem fit; and
that a Committee of Inspection will not be formed.

Manifold Times previously reported Nicholas James Gronow, director of Heng Tong Fuels & Shipping and Coastal Logistics, filed statutory declarations for both companies stating the firms cannot continue their businesses due to liabilities.

Both companies were reportedly affiliated with troubled Singapore bunker player Coastal Oil (Singapore) Pte Ltd.

In 2019, several vessels owned by both firms entered the sale & purchase (S&P) market in Singapore.

Photo credit: Drew Beamer
Published: 21 July, 2026

LNG Bunkering

PIL’s LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on LNG and low-sulphur fuel oil that helps reduce our greenhouse gas emissions.

Published

18 hours ago

July 21, 2026

Admin

PIL's LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

Singapore-based Pacific International Lines Pte Ltd on Monday (20 July) said its first 13,000 TEU LNG dual-fuel container vessel, Kota Elok, recently made her maiden call to Singapore on 15 July.

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on liquefied natural gas (LNG) and low-sulphur fuel oil that helps reduce our greenhouse gas emissions.

The vessel also incorporated energy-saving features and digital technologies to reduce fuel consumption and enhance operational performance, as well as a bow windshield to improve aerodynamics, contributing to improved fuel efficiency and lower emissions over the course of long-haul voyages.

“Following Singapore, Kota Elok will continue her voyage on our East Coast Service 1 (ES1) route to South America, calling at ports in Brazil, Uruguay, and Argentina before returning to Asia,” the company said in a social media post.

Kota Elok also became PIL’s first vessel to receive Lloyd’s Register certification for compliance with the IACS UR E26 and UR E27 cyber security requirements.

Developed by the International Association of Classification Societies (IACS), UR E26 and UR E27 are mandatory cyber resilience requirements for newbuild vessels contracted from 1 July 2024.

Photo credit: Pacific International Lines
Published: 21 July, 2026