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Malaysia: Straits Energy Resources subsidiary inks Mou for reforestation project

Multi-year reforestation project is aimed at restoring degraded forest areas in the Setiu Wetlands State Park, one of the largest natural wetlands in the East Coast region of Peninsular Malaysia.
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283Malaysia: Straits Energy Resources subsidiary inks Mou for reforestation project

Malaysia-listed Straits Energy Resources (SER) on Sunday (10 December) said its subsidiary Benua Hijau has signed a Memorandum of Understanding (MoU) with the Management Council Of Terengganu State Parks (MPTN) and the Setiu Land Office, for a reforestation project. 

SER is principally engaged in oil trading and fuel bunkering services, ship management, port operation and management, inland transportation and investment holding activities. 

Manifold Times recently reported SER entering into a conditional shares sale and purchase agreement with its subsidiary Tumpuan Megah Development for the proposed acquisition of Straits Marine Fuels & Energy (SMF) shares, representing 33% of the equity interest in SMF.

The multi-year reforestation project is aimed at restoring degraded forest areas in the Setiu Wetlands State Park, one of the largest natural wetlands in the East Coast region of Peninsular Malaysia.

Dato’ Sri Ron Ho Kam Choy, Managing Director of Straits Energy Resources Berhad, said: “Firstly, I would like to thank Yayasan DiRaja Sultan Mizan for opening the door for this ESG collaboration with MPTN, to kick-start this project. We are thrilled to sign this MoU with MPTN and the Setiu Land Office for this large-scale reforestation project that will be spearheaded by our CSR and ESG-focused subsidiary, Benua Hijau.”

“This ESG initiative involves taking important action on the ground, which will give us a high level of involvement and visibility into our projects and help us ensure we make a quantifiable positive impact. In line with this, Benua Hijau will be involved in physical ground work at Setiu Wetlands, releasing MPTN’s resources that can now be deployed to other important areas.”

“We view this project as a critical step towards not only restoring the natural beauty of the Setiu Wetlands, but also contributing to the global fight against climate change. In addition, the reforestation of Tasik Berombak will unlock valuable economic opportunities, through the production of sustainable forest resources, ecotourism, and a local cottage industry. This, in turn, will create job opportunities for locals from the surrounding community.”

“We would like to thank MPTN and the Setiu Land Office for this opportunity to make a meaningful impact, which aligns with our long-term values and commitment to building an environmentally, economically and socially sustainable business. We look forward to making this a truly win-win collaboration.”

Benua Hijau, a 51%-owned unit of Straits, is focused on the development and execution of environmental and social sustainability initiatives.

As part of this reforestation project, Benua Hijau plans to plant 100,000 Pokok Gelam (melaleuca) trees across a land area of 200 acres, the equivalent of 113 soccer fields. The reforestation activities, which will take place over five years, will be focused on a designated area surrounding Tasik Berombak within Setiu Wetlands. Tasik Berombak is one of the largest freshwater lakes and Gelam ecosystems in Malaysia’s East Coast region.  

Benua Hijau will coordinate activities across this designated area, including the physical planting of the trees and community engagement activities. Benua Hijau will also invest in the setting up of a dedicated nursery and research center to prepare Gelam saplings and study the Gelam ecosystem and value chain. 

Related: Malaysia: Straits Energy Resources makes move for SMF to become wholly-owned direct subsidiary 

Photo credit: Straits Energy Resources
Published: 12 December, 2023

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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.

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July 21, 2026

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RESIZED Sora Shimazaki on Pexels

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.

Related: Singapore: Hin Leong Founder OK Lim gets jail term slashed to 13.5 years

 

Photo credit: Sora Shimazaki
Published: 21 July, 2026

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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.

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July 21, 2026

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RESIZED Drew Beamer

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.

Related: Singapore: Director declares Heng Tong Fuels & Shipping’s inability to continue business
Related: Heng Tong Fuels & Shipping in court over DBS Bank bunker tanker loan
Related: Singapore: Bunker tanker “Coastal Neptune” arrested
Related: Heng Tong Fuels & Shipping, Coastal Logistics tankers enter S&P market

 

Photo credit: Drew Beamer
Published: 21 July, 2026

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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.

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July 21, 2026

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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

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