A notice in the Government Gazette was published on Friday (6 March) by the liquidator of Yuantai Fuel Trading Pte Ltd stating that the company is being wound up voluntarily and urged for creditors to send in their details.
Creditors are required on or before 6 April 2026 to send in their names and addresses and the particulars of their debts or claims and the names and addresses of their solicitors (if any) to the liquidator at 7500A Beach Road, #05-303/304 The Plaza, Singapore 199591.
If required, creditors are to come in and prove their debts or claims or in default will be excluded from the benefit of any distribution made before such proof.
The liquidator mentioned in the notice is Lai Seng Kwoon.
According to SGP Business website, Yuantai Fuel Trading’s principal activity is the wholesale of fuels and related products.
Manifold Times previously reported the High Court of Singapore issuing a winding up order to Yuantai Fuel Trading Pte Ltd on 13 February.
The winding up application was filed by Singapore-based defunct oil trading company Hin Leong Trading Pte Ltd on 15 January.
According to a report by The Business Times in November 2023, Yuentai Fuel Trading was mentioned during Hin Leong founder Lim Oon Kuin’s cross examination over his role in the company.
Prosecutors questioned if Lim had handled Hin Leong’s trades with two companies, Yuantai Fuel Trading and Daxin Marine, in 2018 and 2019 to which Lim replied that he was only involved in oil deals that were “going to certain places”.
Manifold Times previously reported the 50-day trial involving Lim, also known as OK Lim, and his two children approached its conclusion with the trio agreeing to pay USD 3.5 billion to the liquidators of Hin Leong Trading.
In November 2024, Lim, also known as OK Lim, was sentenced to 17 years and six months in jail on three charges of cheating and forgery at the State Courts of Singapore after a lengthy trial.
Recently, Singapore’s High Court reduced his prison sentence by four years to 13.5 years.
Related: High Court of Singapore issues winding up order against Yuantai Fuel Trading Pte Ltd
Related: Singapore’s collapsed oil firm Hin Leong Trading files bid to wind up Yuantai Fuel Trading
Photo credit: steve pb from Pixabay
Published: 9 March, 2026
