Former oil tycoon OK Lim granted jail term cut in US$111.7 million case appeal

[SINGAPORE] The High Court dismissed an appeal by Lim Oon Kuin, better known as OK Lim, against his conviction on Wednesday (Mar 4), but allowed an appeal to his sentence, reducing Lim’s original jail term by four years.

Lim, the 84-year-old founder of defunct oil trading company Hin Leong, was handed a term of 13.5 years. Justice Hoo Sheau Peng said the original jail term of 17.5 years was “crushing” even with the usual one-third remission.

Justice Hoo rejected submissions by the defence, led by Senior Counsel Davinder Singh, that judicial mercy should be exercised in this case, with reference to the case of Mr Ong Beng Seng.

She said that the comparison drawn by the defense was “misguided” and that Lim’s case was not an exceptional one to warrant judicial mercy as Ong’s case was. The police have noted his fall risk and will make the necessary arrangements for him in jail, said Justice Hoo.

The former oil tycoon listened to proceedings in a wheelchair with his eyes shut and a Mandarin interpreter beside him.

Justice Hoo granted four weeks’ adjournment for Lim to consider the written judgment and for a medical appointment following a fall in December 2025. The defense said the fall resulted in a contusion on his forehead and a deep cut above his eye.

The lawyer added that Lim now has difficulty focusing visually, chronic back pain and experiences sweating while eating.

Justice Hoo extended Lim’s S$2 million bail, guaranteed by his wife, and ordered him to surrender at the State Courts on April 1.

After a district court trial, Lim was found to have cheated HSBC into disbursing US$111.7 million (S$145 million) to Hin Leong based on two fabricated oil sale contracts.

He was also found to have instructed a former employee to forge documents for one of the fake contracts. Lim’s daughter, Lim Huey Ching, is currently on trial for obstructing justice.