Singapore oil tycoon OK Lim lists Tanglin Hill GCB for S$43M amid legal issues

SINGAPORE: Singaporean oil tycoon Lim Oon Kuin, also known as OK Lim, has recently listed another of his prestigious Good Class Bungalows (GCB) for sale amidst ongoing legal issues.

The property on Tanglin Hill is on the market with an asking price of S$43 million.

Singapore Business Review reported that Knight Frank, a prominent real estate agency, has recently launched the sales campaign for this five-bedroom mansion.

Situated on a plot spanning 15,636 square feet of land, the house covers 8,110 square feet and includes 5+1 bedrooms, spacious living and dining areas, a swimming pool, gardens, and a large car porch.

It’s positioned in an exclusive cul-de-sac near Tanglin Road, conveniently close to Napier and Orchard Boulevard MRT stations.

Lim’s decision to sell comes on the heels of his recent legal troubles. He was convicted last month on charges related to cheating and forgery, involving a significant sum exceeding US$111.7 million (approximately S$151.3 million).

These charges stem from issues surrounding his former oil trading firm, Hin Leong Trading, causing a major stir in the industry.

This isn’t Lim’s first GCB to hit the market. Last year, he listed another property at 20 Third Avenue for S$30 million, which equated to over S$2,058 per square foot.

The tender for the Tanglin Hill property is scheduled to close on Friday, July 19, 2024, at 3:00 pm. The guide price of S$43 million translates to approximately S$2,750 per square foot. /TISG

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