You should always use water-based asian paints for indoor surfaces. This is true even when covering up a surface previously painted with oil-based paint. The only exception to this rule would be if the surface beneath the oil-based paint is water-soluble, since the water used in latex paint can lead to a softening of the surface, which in turn could lead to peeling. Using multiple coats of oil-based paint can usually protect the surface, but before you go ahead and take the risk, first do a test in which you paint a small area with the water-based asian paints. Wait a couple of hours and if there is no peeling, you should be okay to go ahead with the full job.
When using water-based asian paints, also be sure to test for whether the chalk from the previous paint job has been removed. To do this, paint a smaller area of the surface just as in the test above, only this time use two coats. And instead of waiting a few hours, you’ll have to wait a couple of days. After two or three days use a paperclip to scratch a line through the paint, then stick some clear tape over the line and quickly remove it. Check the tape for paint specks. If more than a handful of paint specks are stuck to the tape, which means the paint isn’t bonding strongly. This means you’re going to need to do either one of two things. You’ll have to make sure you thoroughly clean off the chalked paint. Or you’ll need to switch to alkyd paint. Alkyd paints do a better job of covering up chalk.