Legal

Goldsland Holdings moves in to secure US $22 million from Vermont UM Bunkering

Singapore High Court recently held an ‘Examination of Judgement’ session to determine available assets to satisfy the judgment debt, learns Manifold Times.

Published

8 years ago

January 16, 2019

Admin

The High Court of the Republic of Singapore has held an ‘Examination of Judgement’ session between creditor Goldsland Holdings Company Limited [Plaintiff] and Vermont UM Bunkering Pte Ltd [Defendant] over a US $22.44 million claim, learns Manifold Times.

The recent ‘Examination of Judgement’ session in the week ended 13 January, held to determine what assets are available to satisfy to pay off a debt, is a follow up from an earlier judgement by the court on 23 March, 2018.

“No appearance having been entered by the Defendant herein, it is this day adjudged that the Defendants do pay the Plaintiff: USD22,443,995.61 and costs fixed at the sum of S$2,300,” said the earlier judgement.

Goldsland Holdings, the Hong Kong based creditor, is engaged in the businesses of bunker supply, biodiesel, overseas mining, bulk trade and property leasing, according to the legal documents.

“From time to time between the periods from 2010 to 2016, the Defendant would request the Plaintiff to provide financial assistance in respect of the Defendant’s bunkering transactions with its suppliers,” it stated.

“The Defendant would request the Plaintiff to make payment directly to the Defendant’s bunkering suppliers, for bunkers which were supplied to the Defendant.

“Pursuant to the Defendant’s requests, the Plaintiff would transfer the monies directly to the Defendant’s suppliers and make payment for and on behalf of the Defendant.

“As at 17 July 2017, the total loan amounts that were owed by the Defendant to the Plaintiff was in the sum of USD 22,443,995.61.”

Vermont UM Bunkering had its bunker supplier and bunker craft operator licence revoked by the Maritime and Port Authority of Singapore (MPA) on 28 April, 2016.

On 16 November 2017, Vermont UM Bunkering’s two directors and one former bunker manager were charged in court with 150 counts of engaging in a conspiracy to cheat customers.

The group dishonestly induced clients to make excess payments totalling over $8 million.

Vermont UM Bunkering (UEN: 200920025G) is still registered as a ‘live company’ according to the Accounting and Corporate Regulatory Authority (ACRA) during a Wednesday (16 January) check by Manifold Times.

In April 2018, Malayan Banking Berhad was seeking to liquidate a total US $38.3 million under Mortgagee’s Claim from Vermont UM Bunkering affiliated firm Vermont UM Shipping.

Photo credit: Manifold Times
Published: 16 January, 2019

Winding up

Singapore: Annual general meetings scheduled for Xihe Holdings subsidiaries

Annual general meetings will be held from 1 to 2 September for An Hui Shipping, Nan Chiau Maritime and Nan Yi Maritime to receive updates on firms’ liquidation, according to notices.

Published

19 hours ago

August 17, 2026

Admin

Several notices were published on the Government Gazette on Friday (14 August) regarding the annual general meetings to be held from 1 to 2 September for Xihe Holdings subsidiaries An Hui Shipping Pte Ltd, Nan Chiau Maritime and Nan Yi Maritime Pte Ltd.

Annual general meetings for An Hui Shipping are to be held on 1 September at the following times:

For the company and creditors: 3pm

Annual general meeting for Nan Chiau Maritime is to be held on 1 September at the following time:

For the company and creditors: 2pm

Annual general meeting for Nan Yi Maritime is to be held on 2 September at the following time:

For the company and creditors: 2pm

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: 17 August, 2026

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

4 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

6 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