Singapore Oil Mogul Declared Bankrupt After Empire Collapsed

Lim agreed to pay about $3.59 billion; said he lacked funds
Hin Leong ran into trouble in 2020 when oil price slumped

Lim Oon Kuin leaves the State Courts following a sentencing hearing in Singapore on Nov. 18.Photographer: Ore Huiying/Bloomberg

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Weilun Soon

December 28, 2024 at 4:39 AM UTC

Updated on

December 28, 2024 at 12:31 PM UTC

This article is for subscribers only.

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.