Legal

Singapore: New Regal Marine sued by CV Star Formula at High Court

Letter of demand was sent to New Regal Marine on 29 June 2018 claiming outstanding balance of SGD 701,900, but request was unanswered, alleges CV Star Formula.

Published

7 years ago

August 16, 2019

Admin

Editor: The following article is related to an earlier claim by New Regal Marine Pte Ltd against Martin Chua at the High Court of the Republic of Singapore here.

Batam-based oil trading company CV Star Formula has engaged in a claim against Singapore-based vessel owner, operator and oil trading firm New Regal Marine Pte Ltd at the High Court of the Republic of Singapore in the week ended 11 August.

In June 2019, CV Star Formula filed a claim at the court seeking repayment of approximately SGD 701,900 of debt allegedly owed by New Regal Marine, according to legal documents obtained by Manifold Times.

The statement of claim contained particulars of oil products invoices allegedly made to New Regal Marine, totalling SGD 4.14 million over 24 transactions during 2014.

The term of agreement was New Regal Marine, “would make payment of the invoices in cash and upon delivery of the invoices”, it stated.

According to CV Star Formula, New Regal Marine had already made payment of approximately SGD 3.4 million, leaving an outstanding balance of SGD 701,900 to date.

It added that a letter of demand was sent to New Regal Marine earlier on 29 June 2018, asking for the outstanding balance, but the request was unanswered.

In its reply on July 2019, New Regal Marine denied any contractual dealings with CV Star Formula and claimed that it dealt directly with Martin Chua and/or David Chua as principals instead.

New Regal Marine said that it did not respond to an earlier claim made by CV Star Formula on 29 June 2018 as it allegedly had no contractual dealings with the Indonesian firm.

The Singapore company maintained its position to claim total of SGD 600,000 from Martin Chua in a separate transaction for the purchase of 1,500 metric tonnes (mt) of petrol.

Martin Chua is a director of several bunkering firms in the Republic, including Star Formula Pte Ltd.

Photo credit: Manifold Times
Published: 16 August, 2019

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

16 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

16 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

Winding up

Singapore: Liquidator of Nan Shan Maritime Pte Ltd issues notice of dividend

Third interim dividend to admitted unsecured claims of Nan Shan Maritime is payable from 15 July, according to Government Gazette notice.

Published

6 days ago

July 16, 2026

Admin

A notice of dividend for Nan Shan Maritime Pte Ltd, which is currently in creditors’ voluntary liquidation, was published on the Government Gazette on Wednesday (15 July).

The following are the details of the notice:

Name of Company : Nan Shan Maritime (Pte.) Ltd.(In Creditors’ Voluntary Liquidation)
Unique Entity No. / Registration No. : 201701967H
Address of Registered Office : 10 Anson Road, #10-10, International Plaza, Singapore 079903
Amount per centum : 5.00 Per Centum of all admitted unsecured, claims
First and Final or Otherwise : Third Interim
When Payable : 15 July 2026
Where Payable : Entitlements will be made by way of cheque.

Photo credit: Drew Beamer
Published: 16 July, 2026