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Singapore: Lawyers of OK Lim and daughter accuse former PA of lying in her testimony

Lawyers of Hin Leong Trading (Pte) Ltd founder Lim Oon Kuin and his daughter Lim Huey Ching accused former personal assistant Serene Seng of exaggerating and lying in her testimony in a civil trial.

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Singapore High Court

The lawyers of Hin Leong Trading (Pte) Ltd founder Lim Oon Kuin and his daughter Lim Huey Ching on Thursday (8 February) accused former personal assistant Serene Seng of exaggerating and lying in her testimony in a civil trial, according to The Business Times.

Davinder Singh Chambers represented Lim Oon Kuin, also known as OK Lim, and a team from Advocatus Law represented his daughter.

According to the report, Seng was among those called to the stand as witnesses in the civil trial in which PwC liquidators and HSBC are suing Lim, his two children and Seng for a total of USD 3.5 billion (SGD 4.7 billion). The liquidators have filed a separate case from HSBC, but the hearings are being conducted jointly in the High Court.

Davinder Singh questioned Seng through a series of excerpts from former Hin Leong employees. One of them was that the former employees said in their testimonies that they “did not have any work dealings” with OK Lim and met him only “probably occasionally”. However, Seng had said that OK Lim had always been involved in the operations of the group and made all its operational decisions. 

Seng disagreed when Singh suggested that she had “exaggerated” her evidence about OK Lim supervising everyone in an attempt to implicate him after she was unable to comment on the statements from the other employees.

Christopher Anand Daniel of Advocatus Law, lawyer of OK Lim’s daughter Lim Huey Ching, focused on the differences between Seng’s affidavits filed during the criminal proceedings and her statement to PwC recorded on 30 September, 2020. 

Daniel said Seng had given “quite graphic evidence” during the criminal proceedings of how Lim Huey Ching had flagged a problem with the payment for a contract to sell oil to China Aviation Oil (Singapore) – with a slew of intricate details. But her statement to PwC regarding this conversation was missing the details. 

The civil trial resumes on 13 February, when lawyers representing the liquidators will resume calling their witnesses to the stand.  

An extensive coverage by Singapore bunkering publication Manifold Times regarding the fall of Hin Leong can be found below:

Related: Former PA to Hin Leong Trading Founder refutes OK Lim’s claim on his role in firm
Related: Founder OK Lim grilled by prosecutors on his involvement at Hin Leong Trading
Related: Singapore: Hin Leong Trading Founder testifies for the first time in his own defence
Related: Singapore: Hin Leong Trading Founder to testify in USD 111.7 mil cheating, forgery case
Related: Singapore: O.K. Lim, children faces liquidators and HSBC in USD 3.5 bil civil lawsuit
Related: Former PA to Hin Leong Trading Founder found lying in CAD investigations
Related: Singapore: Hin Leong Trading Founder goes to trial for cheating, forgery charges
Related: Hin Leong Trading Founder faces additional 105 cheating, forgery charges in court
Related: Ocean Tankers judicial managers progressing to liquidate firm after expiry of court order
Related: Singapore: Hin Leong Trading Director charged with obstructing course of justice
Related: Court of Appeal: Hin Leong, Lim family claim ‘without any factual or legal basis’
Related: Singapore: High Court dismisses UniCredit Bank USD 37 million claim against Glencore over Hin Leong transaction
Related: Singapore: Hin Leong takes Deloitte to court over alleged auditing failures
Related: Hin Leong Trading Founder OK Lim facing 23 new forgery-related charges at State Courts
Related: Application to wind up Hin Leong Trading subsidiary, Hin Leong Marine approved
Related: Singapore High Court approves Hin Leong Trading wind up order application
Related: Hin Leong Trading liquidates a third of its fleet to recover USD 3.5 billion debt
Related: Lim family aims to wind up Hin Leong Trading subsidiary, Hin Leong Marine
Related: Judicial Managers of Hin Leong Trading Pte Ltd file for winding up order
Related: Hin Leong judicial managers to hold meeting of creditors to discuss fees incurred
Related: Lim family files application to wind up Hin Leong Trading subsidiary, Hin Leong Marine
Related: First creditors meeting of Ocean Tankers to be held in early January 2021
Related: Bank of China takes legal action against BP Plc and Lim family to recover $312.9 million
Related: OBS to wind up operations; creditor list alleges estimated USD 42 million debt
Related: Ocean Tankers publishes notice for creditors to prove any debts or claims for publication
Related: Hin Leong Trading founder denies allegations of forgery put forward by HSBC
Related: Singapore: Xihe Holdings and subsidiaries to be placed under judicial management
Related: HSBC takes Lim family and Hin Leong employee to court to recover USD 85.3 million
Related: Da An Shipping Pte Ltd passes winding-up resolution and publishes notice to creditors
Related: Xihe Capital and subsidiaries, Nan Guang Maritime to undergo voluntary liquidation
Related: MPA: Ocean Bunkering Services licenses suspended ‘until further notice’ and not revoked
Related: Ocean Bunkering Services bunker claims against ASL Marine & Offshore heads to arbitration
Related: Ocean Tankers to return most ships to owners to reduce $540,000 a day cash burn
Related: Singapore: Ocean Bunkering Services license suspended until further notice
Related: PwC publishes ‘investment opportunity’ for Singapore independent bunker fuel supplier
Related: Hin Leong founder O.K. Lim hit with second charge of abatement in forgery
Related: Hin Leong judicial managers and legal firms could rack up SGD 17.3 million in fees
Related: Winson Group wins ICC backing in dispute against banks over credit for Hin Leong Trading
Related: O.K. Lim and two children sued for USD 3.5billion; receiver appointed for 3 Xihe ships
Related: Managers of Ocean Tankers looking to recover USD 19 million from Lim family
Related: Argus Media: Singapore’s Hin Leong founder charged with forgery
Related: Xihe Holdings placed under IJM as OCBC reverses decision for ‘consensual restructuring’
Related: Xihe replaces Directors, forms new management team to chart fresh course for Group
Related: Hin Leong Trading lawyers publish application to fulfill requirements for hearing to proceed
Related: Ocean Tankers legal team publishes application to be placed under judicial management
Related: Judicial management applications for Hin Leong Trading and Ocean Tankers delayed
Related: Lim family to inhibit law firm Rajah & Tann from representing troubled HLT & OTPL
Related: OCBC files for Xihe Holdings to be placed under judicial management
Related: Judicial managers of Ocean Tankers discover discrepancies and fraud in exposure claims
Related: Judicial managers of Ocean Tankers to present restructuring proposals to owners
Related: PwC probes uncover mass grave of financial skeletons and alleged fraud within HLT
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: Ocean Tankers: Notice to prove debt or claim published by interim judicial managers
Related: ‘Reasonable prospects’ to keep Ocean Tankers as a going concern, states Director
Related: Singapore: Ocean Tankers, a separate entity of Hin Leong, seeking judicial management
Related: Singapore High Court concedes interim judicial management to Hin Leong Trading
Related: Sembcorp commences legal proceedings against Hin Leong Trading over gasoil cargo
Related: Sembcorp Cogen aborts gasoil supply and storage contract with Hin Leong Trading
Related: Report: Sinopec expresses interest in Hin Leong Trading stake of Universal Terminal
Related: Report: Hin Leong Trading appoints PwC as interim judicial manager
Related: Singapore’s Police Force commence investigations into Hin Leong Trading
Related: Report: Hin Leong Trading founder gave instructions to hide USD 800 million losses
Related: Singapore: Ocean Bunkering Services to discontinue marine fuel deliveries
Related: Hin Leong in debt restructuring exercise; Ocean Tankers a separate entity, says CEO
Related: Report: Hin Leong Trading finances under scrutiny, amid credit pull from two banks

 

Photo credit: Manifold Times
Published: 13 February, 2024

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Winding up

Singapore: Annual general meetings scheduled for Xihe Holdings subsidiary

Annual general meetings will be held on 26 April for Xin Bo Shipping to receive an update on firm’s liquidation, according to Government Gazette notice.

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RESIZED Jo_Johnston from Pixabay

A notice was published on the Government Gazette on Thursday (11 April) regarding the annual general meetings to be held on 26 April for Xihe Holdings subsidiary Xin Bo Shipping (Pte) Ltd.

Annual general meetings for Xin Bo Shipping are to be held at the following times:

For the company: 2pm
For the creditors: 3pm

The agenda for all the meetings are:

  1. To receive an update on the liquidation.
  2. 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

Xihe Holdings Pte Ltd and its subsidiaries are owned by the Lim family, who are also the owners of the embattled Hin Leong Trading.

Related: Singapore: Xihe Holdings subsidiaries Xin Bo Shipping, An Guang Shipping to be wound up
Related: Singapore: Creditors to file debt claims for Xin Bo Shipping by 14 June
Related: Xihe Holdings subsidiary Xin Bo Shipping placed under judicial management
Related: JMs of An Guang Shipping and other Xihe subsidiaries call for creditors meeting

 

Photo credit: Jo_Johnston from Pixabay
Published: 12 April 2024

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Crime

Malaysia: MMEA seizes tugboat and tanker lorry for illegal fuel transfer

MMEA successfully apprehended a Myanmar national who was captain of ship and four crew members comprising two Indonesians, one Myanmar national and a local citizen, as well as a tanker lorry driver.

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Malaysia: MMEA seizes tugboat and tanker lorry for illegal fuel transfer

The Tawau Malaysian Maritime Enforcement Agency (MMEA) on Tuesday (9 April) detained a tugboat and a tanker lorry that were found to be carrying out an illegal fuel transfer in the waters of Tanjung Batu, Tawau.

MMEA Tawau Zone Director Shahrizan Raman said patrol boats received information from Tawau Maritime Zone intelligence unit regarding the operation at Komsa Tanjung Batu jetty at around 2.10 am.

Patrol boats that arrived at the scene found a tanker lorry on the jetty transferring about 10,000 litres of fuel to a tugboat.

Malaysia: MMEA seizes tugboat and tanker lorry for illegal fuel transfer

During the raid, MMEA successfully apprehended a Myanmar national who was the ship captain and four crew members comprising two Indonesians, one Myanmar national and a local citizen. The tanker lorry driver, a local, was also arrested in the operation.

All suspects were men and aged 32 to 57 years. MMEA added an inspection of their documents found no authorisation permits related to the fuel transfer activity.

MMEA said the boat and tanker lorry were seized with their fuel cargo before being escorted to the Tawau Maritime Zone Jetty for further investigation.

Malaysia: MMEA seizes tugboat and tanker lorry for illegal fuel transfer

The value of the seized items and fuel was estimated to be almost MYR 250,000.

This case is being investigated under the Customs Act 1967, Control of Supplies Act 1961 and Petroleum Development Act 1974. 

 

Photo credit: Malaysian Maritime Enforcement Agency
Published: 15 April 2024

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Winding up

Singapore: White Flag Ventures XXXIII to undergo voluntary wind up

A liquidator was appointed for the company at an extraordinary general meeting held on 28 March, according to Government Government notice.

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RESIZED Drew Beamer

Several resolutions for White Flag Ventures XXXIII Pte Ltd were made during an extraordinary meeting held on 28 March, according to a post in the Government Gazette on Thursday (4 April).

The meeting was held at 10 Collyer Quay, #29-01/05 Ocean Financial Centre, Singapore 049315.

The duly passed resolutions were:

As Special Resolutions

  • That the Company be wound up voluntarily pursuant to Section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018.That pursuant to Sections 177(1)(a) and 177(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018, the Liquidator be and is hereby authorised to exercise any or all of the powers given to a Liquidator by Sections 144(1)(b), (c), (d), (e), (f), (g) and 144(2) of the Insolvency, Restructuring and Dissolution Act 2018.
  • That the appointed Liquidator be and is hereby authorised to divide all or such part of the surplus assets of the Company as he shall think fit among the shareholders of the Company in specie or otherwise, in accordance with their existing rights and interests.

As Ordinary Resolutions

  • That Mr Ng Hoe Kiat Keith c/o 7500A Beach Road, #05-303/304 The Plaza, Singapore 199591 be and is hereby appointed as Liquidator for the purpose of winding-up.
  • That the remuneration of the Liquidator be based on his normal scale of professional fees plus disbursements and that the Liquidator’s fees be paid out of the assets of the Company.

 

Photo credit: Drew Beamer
Published: 9 April 2024

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