High Court of Singapore issues winding up order against Yuantai Fuel Trading Pte Ltd

The High Court of Singapore issued a winding up order to Yuantai Fuel Trading Pte Ltd on 13 February, according to a Wednesday (25 February) notice on the Government Gazette.

The winding up application was filed by Singapore-based defunct oil trading company Hin Leong Trading Pte Ltd on 15 January. 

The winding up order also included the following names and address of liquidators:

Mr Lai Seng Kwoon
Reliance 3P Advisory Pte. Ltd.
7500A Beach Road, #05-303/304, The Plaza
Singapore 199591

All creditors of the abovenamed company should file their proof of debt with the liquidator who will be administering all affairs of the company.

According to SGP Business website, Yuantai Fuel Trading’s principal activity is the wholesale of fuels and related products. 

According to a report by The Business Times in November 2023, Yuentai Fuel Trading was mentioned during Hin Leong founder Lim Oon Kuin’s cross examination over his role in the company. 

Prosecutors questioned if Lim had handled Hin Leong’s trades with two companies, Yuantai Fuel Trading and Daxin Marine, in 2018 and 2019 to which Lim replied that he was only involved in oil deals that were “going to certain places”. 

Manifold Times previously reported the 50-day trial involving Lim, also known as OK Lim, and his two children approached its conclusion with the trio agreeing to pay USD 3.5 billion to the liquidators of Hin Leong Trading.

In November 2024, Lim, also known as OK Lim, was sentenced to 17 years and six months in jail on three charges of cheating and forgery at the State Courts of Singapore after a lengthy trial. 

Related: Singapore’s collapsed oil firm Hin Leong Trading files bid to wind up Yuantai Fuel Trading

Photo credit: Manifold Times
Published: 26 February, 2026