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

SINGAPORE, Aug 16 — More than 40 investors in a Singapore vending-machine business are facing losses of up to S$4 million (RM12.6 million) after its owner was declared bankrupt last month, following promises of annual returns of up to 10 per cent.

Lim Jian Bin, who marketed himself as a successful entrepreneur with investments in hundreds of vending machines and commercial properties, was declared bankrupt on July 14, The Straits Times reported today.

Among those affected is financial adviser Kevin Lin, 43, who invested S$484,300 (RM1.53 million) in Nozomii Vending from 2023, including S$291,322 (RM920,000) borrowed through bank loans.

Under one agreement, Lin was promised annual returns of 10 per cent over four years, while another investment involving industrial property offered 5 per cent a year for three years.

Lin said the payments initially arrived on time before slowing from February this year and eventually stopping.

He was still owed about S$196,000 (RM620,000) when Lim became bankrupt, although a debt recovery agency helped him recover S$100,000 (RM316,000) shortly before the bankruptcy order.

Lin said he had initially been confident in the investment because Lim appeared successful and trustworthy.

“And this is Singapore, where can you run?” he told The Straits Times.

Facebook screengrab from Nozomii Vending shows founder Lim Jian Bin, also known as Takeshi Lim, who started Nozomii Vending in 2021 after working as a private vehicle driver, was declared a bankrupt in July 2026, with at least 40 investors in his business stuck with losses amounting to millions of dollars. 

Other investors reported similar experiences, with one saying he invested S$100,000 (RM316,000) in the vending business and separately lent Lim S$150,000 (RM474,000).

Checks by The Straits Times found more than 40 investors had put up as much as S$4 million (RM12.6 million) through arrangements involving Nozomii Vending and related investments.

Police confirmed they had received several reports and said investigations are ongoing.

Lim sent some investors WhatsApp messages after being declared bankrupt, apologising for their losses and saying he had faced harassment and business sabotage before the business failed.

“I apologise for all the trouble, pain and loss that you had to go through because of my failure. I’m ashamed and guilty at the same time facing you,” he said in one message seen by The Straits Times.

Checks showed Lim was a shareholder in eight businesses involved in areas including vending machines, health supplements, management consultancy and machinery rental.

Lim Jian Bin (standing), also known as Takeshi Lim, holds a class for his Singapore-based vending machine business on January 5, 2025 before the venture collapsed a year later. — Picture from Facebook/Nozomii Vending

When The Straits Times visited Nozomii Vending’s premises in Admiralty, the unit was locked and a notice at the entrance stated that Lim and another individual connected to the business owed creditors S$50,000 (RM158,000).

Corporate investigations expert Reshmi Khurana said investors should look beyond appearances and conduct deeper checks on a person’s business track record and advisers.

“It has to go beyond just surface-level due diligence of what car is someone driving,” she said.

Lawyers said a bankruptcy order triggers a moratorium preventing individual creditors from pursuing separate legal action to enforce judgments, with control of the bankrupt’s assets passing to the official assignee or a private trustee.

The Straits Times said it had tried to contact Lim but was unable to get a response.