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

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia