Tycoon OK Lim and his family are set to hand over management of the company founded in 1963 to PricewaterhouseCoopers LLP, deepening the demise of an empire Lim built into one of Singapore’s most powerful oil traders.
Hin Leong Trading (Pte) Ltd., saddled with almost $4 billion in debt, plans to shift management of the company away from its founding family to the accounting firm while preparing to withdraw an application for court protection from creditors, according to people familiar with the matter.
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