Singapore Nozomii vending business collapse leaves 40 investors facing over RM12m in losses

More than 40 investors in Singapore’s Nozomii Vending vending machine business are facing potential losses of up to S$4 million (RM12.6 million) after their business owner, Lim Jian Bin, was declared bankrupt last month. Lim, who claimed to be a successful entrepreneur with investments in various properties and vending machines, had promised investors annual returns of up to 10% over four years.

One investor, Kevin Lin, invested S$484,300 (RM1.53 million) in Nozomii Vending, including S$291,322 (RM920,000) in loans. Prior to the bankruptcy, payments were made on time but slowed in February and eventually stopped when Lim became bankrupt. Lin, who had been promised about S$196,000 (RM620,000), received some recovery through a debt recovery agency but still owes about S$100,000 (RM316,000).

The Straits Times reported that more than 40 investors collectively put up around S$4 million (RM12.6 million) in Nozomii Vending and related investments. Police investigations are ongoing, and Lim has expressed remorse in messages to affected investors. Corporate investigations expert Reshmi Khurana advised investors to conduct thorough due diligence beyond superficial appearances.