(Bloomberg) — Former tycoon Lim Oon Kuin has been declared bankrupt in Singapore, following the collapse of his oil trading empire. 

The name of the founder of Hin Leong Trading Pte. and his children Lim Huey Ching and Lim Chee Meng were listed as having been issued a bankruptcy order on Dec. 19, the  government gazette showed. The younger Lims were both directors at the company. 

Leow Quek Shiong and Seah Roh Lin of BDO Advisory Pte. Ltd. are the trustees, according to the gazette.

At its peak, Hin Leong traded a range of oil products, made lubricants and operated loading terminals and storage facilities. But the downfall of the man widely known as OK Lim came in 2020, as Covid—19 sent oil prices into freefall. 

Hin Leong was…

Zedify, the UK’s largest electric freight bike delivery network, has gone into administration, resulting in the loss of over 100 jobs.

Zedify, founded in 2015, provides zero-emission last-mile logistics services to businesses such as high-street stores, package carriers, and independent businesses.

The investment came after Zedify received a £5 million funding round in March 2023 from the same investors, including Barclays Sustainable Impact Capital and Mercia, which enabled the company to grow from 113 to 209 people and sign sponsors such as Hello Fresh, Selfridges and Veja.

However, despite increased demand for sustainable delivery services, the company was unable to secure enough finance to continue operations. As a result, on…

February 4, 2025 | 12:00am

MANILA, Philippines — State-run Government Service Insurance System (GSIS) has introduced a loan buyout program that allows government employees to consolidate their debts at significantly lower interest rates, providing much-needed financial relief for state workers.

Under the MPL Max program, qualified members can borrow up to 19 times their salary or P5 million, whichever is lower, with interest rates as low as six percent and repayment terms extending up to 10 years.

The program eliminates surcharges on existing GSIS loans, waives service fees and includes free…

A struggling Gateshead tech firm is hoping to be rescued after it received several offers for its trading subsidiary and assets.

Listed Zytronic also confirmed that managing director Mark Cambridge, who has been in post since 2006 and served the company for the past 25 years, has stepped down as planned.

Zytronic said late last year that it was considering several options including solvent liquidation or a sale following a strategic review.

A manufacturer of touch overlay sensors for interactive displays dating back to the 1940s, Zytronic appointed a new chair last year in a bid to turn around its fortunes after sales failed to recover to pre-COVID levels.

The company’s technology – manufactured in three factories in Blaydon…