The Business Times
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Xihe seeks to restructure business amid OCBC's judicial management application

Sharanya Pillai

Sharanya Pillai

Published Thu, Jul 30, 2020 · 09:50 PM

    Singapore

    OIL tanker shipowner Xihe Group, which is linked to the Lim family of troubled oil trader Hin Leong, plans to embark on a "consensual restructuring" with its lenders and sell some of its vessels, the company said in a press statement on Thursday.

    Xihe's statement comes ahead of a Singapore High Court hearing on Aug 13, where Hin Leong creditor OCBC Bank seeks to bring Xihe and four of its vessel-owning units under judicial management.

    Hin LeongDebt restructuringOCBCShipping

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