Naiise EXPOSED: owe vendor payments for years, never pay employee's salaries/CPF on time, Dennis Tay and wife lead lavish lifestyles

[count dracula]

I predict these two human scum will be knocked down by a bus shortly.

 

[mojito]

So they evaded taxes for 5 years? And IRAS did nothing?

No profit how to pay tax?

 

[Voldermort]

no profit can keep opening new stores? Hmmm

 

[Hypocrite-The]

How can employer don't pay CPF? N how they get away with it? The authorities are very strict on this. N how long did the supplier gave them credit n not being paid? I know when I am not paid by due date. The credit line stops till outstanding is settled. Any new purchases etc is cash only.

 

[Scrooball (clone)]

no profit can keep opening new stores? Hmmm

Use other people's monies.... can la.

If u are like this fucker, you can even run your company for DECADES

Former oil tycoon and Hin Leong founder O.K. Lim facing 23 more forgery-related charges

The 23 charges against Mr Lim Oon Kuin are expected to be tendered at the next court mention on April 8, 2021.PHOTO: ST FILE

Grace Leong
Senior Business Correspondent

• PUBLISHED
  MAR 29, 2021, 6:11 PM SGT

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SINGAPORE - Another 23 charges of forgery-related offences are expected to be tendered against embattled Hin Leong Trading founder Lim Oon Kuin, prosecutors told the court on Monday (March 29) afternoon.

The new charges could not be tendered on Monday against the 78-year-old former oil tycoon - better known as O.K. Lim - as the Commercial Affairs Department (CAD) could not complete recording the cautioned statements as Lim had said he was unwell, Deputy Public Prosecutor Navin Naidu told the court.
Cautioned statements are made by the defendant in his defence at the time the charges are presented to him.

The 23 charges are expected to be tendered at the next court mention on April 8.

"Between now and April 8, there should be sufficient time for all cautioned statements to be administered prior to the rendering of the 23 charges via video link," he added.
Lim's defence lawyer told the court that his client has "no objections to appearing by way of video link from the Police Cantonment Complex for the mention".

His $3 million court bail was extended on Monday.
Mr Lim was hit with two counts of abetment of forgery for the purpose of cheating in August and September last year. Lim was accused of instigating a Hin Leong employee to forge an e-mail and another document in order to obtain more than US$56 million (S$77 million) in trade financing, according to the police.
Abetment of forgery for the purpose of cheating carries a jail term of up to 10 years and a fine.

Lim was accused of instigating Mr Freddy Tan Jie Ren, a contracts executive of Hin Leong, to forge an e-mail purportedly sent by Hin Leong to China Aviation Oil (Singapore) Corporation on Feb 26 relating to a sale.

Lim is accused of instructing Mr Tan to write the e-mail's subject header as "CAO - Sale of gasoil 10PPM sulphur".
The e-mail, along with a forged inter-tank transfer certificate mentioned in the first charge brought against Lim in August 2020, was intended to be used to secure more than US$56 million in trade financing, the police said.

The first charge alleged that Lim had instigated Mr Tan to make an inter-tank transfer certificate using UT Singapore Services' letterhead.
The document stated that Hin Leong transferred 1.05 million barrels of gasoil to China Aviation Oil on March 18.
It was then allegedly used to secure the trade financing, the police said.

MORE ON THIS TOPIC
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Jurong Port buys 41% stake in Universal Terminal from collapsed oil trader Hin Leong's Lim family
After the two charges were brought against the elder Lim, HSBC, Hin Leong's largest creditor with about US$600 million owing, took legal action against the Lim family and a Hin Leong employee as the fake CAO cargo sale is also the subject of the bank's suit.

HSBC alleged that the defendants "fraudulently deceived" it into lending Hin Leong US$111.7 million by signing forged invoices that were submitted to obtain discount financing last year. But, in his defence papers, the elder Lim denied the allegations.

Separately, a High Court hearing is scheduled on April 5 of an application by PricewaterhouseCoopers judicial managers to freeze the assets, shares and funds held by the family in a bid to recoup US$3.5 billion (S$4.7 billion) of debt from the collapsed oil trader.
Hin Leong collapsed last year after the oil price plunge triggered a default that exposed years of hidden losses and alleged fraud by the Lim family. Shipping arm Ocean Tankers filed for judicial management last May, and in August, the court approved OCBC's application against Lim family-owned Xihe Holdings and subsidiaries. Hin Leong was wound up earlier this month.

 

[count dracula]

no profit can keep opening new stores? Hmmm

Najib will tell you its called......magic.

 

[covertbriar]

Magic will land you behind bars

 

[count dracula]

Wrong again. Magic will see Najib disappearing even when in jail, just like nissan's Carlos Ghosn.

 

[KuanTi01]

Owe $ Pay $ ! Scammers especially must not be let off too lightly. Pity the long list of smaller creditors.

 

[EunoiaJAYCEE]

The article also stated they received govt grants.....wtf is PAP sleeping or what?

Prob sleeping.

 

[covertbriar]

I predict these two human scum will be knocked down by a bus shortly.

Evil people live to a ripe age. Loong is a fine example.

 

[Voldermort]

Pinky got cancer twice right?

 

[congo9]

The banks can kiss their 3 billion goodbye.

 

[covertbriar]

simi 3 billion?

 

[CPTMiller]

no profit can keep opening new stores? Hmmm

Why not??
As long they find willing loan eg. Local banks.
Many SME is actually borrowing non stop to fund operation costs. As long they pay the monthly minimum to banks and nothing will happen.
Supplier dare not take actions against them fearing no future business too.
In the end SME bosses drive big car

 

[micromachine]

sad harsh truths, so fucked up

 

[Hypocrite-The]

Why not??
As long they find willing loan eg. Local banks.
Many SME is actually borrowing non stop to fund operation costs. As long they pay the monthly minimum to banks and nothing will happen.
Supplier dare not take actions against them fearing no future business too.
In the end SME bosses drive big car

If the supplier is happy to continue supplying despite outstanding bills. Don't comprain when bad debts bear fruit

 

[CPTMiller]

If the supplier is happy to continue supplying despite outstanding bills. Don't comprain when bad debts bear fruit

Same logic you continues vote for Loong.
Don't complaining.