Singapore oil tycoon Lim Enqiang announced bankruptcy

According to the Singapore government’s electronic version of the constitution report, the bankruptcy order against Lim Eng Keong, the founder of Prosperous Trading Company, and his children Lim Huey Ching and Lim Chee Meng, has taken effect on December 19, 2024. Both of Lim Eng Keong’s children are directors of the company. In November this year, Lim Eng Keong, the oil tycoon and founder of Prosperous Group in Singapore, was sentenced to 17 and a half years in prison for deceiving HSBC Holdings in a case and instigating the forgery of documents. It is understood that Lim Eng Keong and his children agreed in September to pay HSBC $3.6 billion in another civil case involving their company’s liquidators and creditors, and have applied for bankruptcy.