Parties have agreed to the settlement without admission of liability for the Lims, reads the release.
Sembcorp Cogen, a wholly-owned subsidiary of Sembcorp Industries (SGX:U96
) , has accepted an offer to settle and has entered a consent order for US$50.9 million ($65.5 million) from Lim Oon Kuin and two other members of the Lim family, according to an Oct 1 release.
On April 22, 2020, the group announced that Sembcorp Cogen had terminated a gasoil supply and storage agreement with Hin Leong Trading and had commenced legal proceedings to assert its ownership of gasoil reserves stored by Universal Terminals, an affiliate of Hin Leong Trading.
