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More charges filed against Hin Leong founder OK Lim

More charges filed against Hin Leong founder OK Lim

Hin Leong Trading's founder Lim Oon Kuin arrives at the State Courts, in Singapore on Apr 30, 2021. (File photo: REUTERS/Edgar Su)

SINGAPORE: Another 23 charges were filed in court on Friday (Apr 30) against Lim Oon Kuin, the founder of collapsed oil trading firm Hin Leong Trading.

Singapore police last year charged the 79-year-old former oil tycoon, better known as OK Lim, with two counts of abetment of forgery for the purpose of cheating.

Lim turned up in court on Friday after three previous attempts by the prosecution to get him to appear in court for the additional charges to be read out to him.

Wearing a black cap, brown jacket, light-coloured shirt and black pants, the frail-looking Lim arrived in a van and had to be supported into a wheelchair. His head hung down most of the time and he did not respond to any questions posed by a Reuters reporter before he left the court.

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READ: Third of Hin Leong founder's ships sold to repay debt: Sources​​​​​​​

The prosecutor told the court that the prosecution needs another six weeks for further investigation. The next court hearing is scheduled for Jun 24.

Owned by OK Lim and his children Evan Lim and Lim Huey Ching, Hin Leong was set up in 1973 and was once one of Asia's top oil traders. 

The company failed in a year-long effort to restructure about US$3.5 billion in debt after the COVID-19-led oil crash laid bare huge losses.

Lim admitted in a court document last year to directing the firm not to disclose hundreds of millions of dollars in losses over several years.

Source: Reuters/ga


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