WebbHin Leong Trading, the oil trader founded by one of Singapore’s richest men, has filed for bankruptcy protection as it seeks to restructure debts of almost $4bn. Webb18 maj 2024 · As the dust settles following its phone call with its bankers about a debt moratorium, it revealed the scale of the scandal to the disbelief of many trade bankers in the industry. Hin Leong racked up US$3.6b of debt owed collectively to 23 banks, with more than US$598m owed to its largest lender HSBC.
‘Massive’ Forgery Helped Hide $3 Billion Hole in …
Webb24 apr. 2024 · The Singapore police this week launched an investigation into Hin Leong after founder Lim Oon Kuin said he had directed the company’s finance department not to disclose $800m of losses... Webb20 apr. 2024 · File Photo: REUTERS/Tim Wimborne/Files. Fabled Singapore oil trader Hin Leong hid about $800 million in losses racked up in futures trading on the orders of its founder Lim Oon Kuin, suggesting a ... noza tec christmas outdoor
Hin Leong scandal adds tarnish to fading Singapore brand
Webb6 okt. 2024 · Banks have tightened credit to the sector, in part due to troubles at Singapore-based Hin Leong Trading Pte Ltd, formerly one of Asia's largest fuel traders. Some banks, like ABN Amro ABNd.AS... Webb24 juni 2024 · 35 of these charges relate to Lim Oon Kuin allegedly deceiving eight financial institutions into providing accounts receivable financing, amounting to about US$1.2 billion, to Hin Leong on the basis that Hin Leong had loaded oil onto particular vessels pursuant to contracts for the sale of oil by Hin Leong to BP Singapore Pte Ltd … WebbIn fact, Hin Leong had suffered $800m in futures trading losses it had not disclosed in its accounts. But Mr Lim was not finished. The septuagenarian Chinese immigrant then … niftyimages pricing