Lim Oon Kuin, founder of Hin Leong, along with his children, will pay $3.5bn to liquidators and HSBC following the collapse of the Singapore oil trader. The agreement, reached in Singapore High Court, includes interest and costs, with the family members named in the consent judgements. The 82-year-old former tycoon, known as OK Lim, faces financial repercussions for the company’s demise.
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COE quota to increase by 2.6% for August to October
The Land Transport Authority (LTA) of Singapore announced a 2.6% increase in the supply of Certificates of Entitlement (COEs) for the period from August to October, raising the total to 18,701. Bidding under this new quota will commence on August 4, with significant increases in Category E and adjustments based on vehicle deregistrations and population changes anticipated. Want More Context? 🔎
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