Former tycoon Lim Oon Kuin, founder of Hin Leong Trading, was declared bankrupt after his oil empire’s collapse amid fraud allegations and a USD 3.59 billion settlement.
Lim Oon Kuin, the founder of Singapore-based oil trading company Hin Leong Trading Pte., has been officially declared bankrupt. Known as “OK Lim,” the 82-year-old once helmed a successful oil trading empire that collapsed in 2020 during the Covid-19 pandemic. The downfall followed a sharp drop in oil prices, revealing significant financial troubles within the company.
The bankruptcy order, issued on December 19, also extends to Lim’s children, Lim Huey Ching and Lim Chee Meng, who served as directors at Hin Leong. The details of the bankruptcy were published in the…
