Sembcorp Cogen settles with Hin Leong founder Lim for US$50.9m

It will lodge a claim with the bankruptcy trustees of the Lims after the settlement approval.

Sembcorp Industries' subsidiary, Sembcorp Cogen, has settled with Hin Leong Trading (HLT) founder Lim Oon Kuin and two family members for US$50.9m.

In a bourse filing, Sembcorp said its subsidiary accepted the settlement offer and entered a consent order.

In April 2020, Sembcorp Cogen filed a suit against Lim over gasoil it acquired from HTL and stored with Universal Terminals.

After the court approves the settlement, Sembcorp Cogen will lodge a claim for US$50.9m with the bankruptcy trustees of the Lims.

Meanwhile, Sembcorp Cogen will still pursue its claims against UT, regardless of the settlement.

Follow the link for more news on

Sembcorp Industries

Also Read

Mooreast subsidiary, NTOU sign MoU for marine energy research

Surbana Jurong and Hyundai partner to develop Small Modular Reactors

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit

Top News

Secondhand furniture gains traction as Singaporeans embrace circular economy practices

Singaporeans saved 21,970 tonnes of carbon emissions by purchasing secondhand furniture.

Healthcare

Institution of Engineers sets up new board to promote faster chartership registration

The board will also promote upskilling for engineering professionals.

Building & Engineering

Changi Airport Group boosts logistics capacity with new Nexus One facility

It will house two tenants including Expeditors.

Transport & Logistics

MoM underscores tripartite efforts to safeguard workers following Dyson layoffs

The ministry urges companies to work with unions.

HR & Education

Exclusives

Lorem Ipsum Singapore Business Review

The text to display in the title bar of a visitor's web browser when they view this page. This meta tag may also be used as the title of the page when a visitor bookmarks or favorites this page, or as the page title in a search engine result. It is common to append 'Singapore Business Review' to the end of this, so the site's name is automatically added. It is recommended that the title is no greater than 55 - 65 characters long, including spaces.The text to display in the title bar of a visitor's web browser when they view this page. This meta tag may also be used as the title of the page when a visitor bookmarks or favorites this page, or as the page title in a search engine result. It is common to append 'Singapore Business Review' to the end of this, so the site's name is automatically added. It is recommended that the title is no greater than 55 - 65 characters long, including spaces.

19 hours ago

Secondhand furniture gains traction as Singaporeans embrace circular economy practices

Singaporeans saved 21,970 tonnes of carbon emissions by purchasing secondhand furniture.

Healthcare

Lorem Ipsum 2