Hin leong trading scandal
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 ... Webb19 apr. 2024 · SINGAPORE (Reuters) - The founder and director of Singapore oil-trading company Hin Leong Trading Pte Ltd (HLT) directed the firm not to disclose hundreds of millions of dollars in losses...
Hin leong trading scandal
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WebbHin Leong, one of Asia's largest oil traders, was placed under judicial management in April after banks demanded repayment of loans as oil prices crashed amid the coronavirus … WebbOnce one of Asia's top oil traders, Hin Leong collapsed last year after the oil price plunge triggered a default that exposed years of hidden losses and alleged fraud by its founder …
WebbThe company owed some $3.85 billion to 23 lenders, the biggest of which being HSBC which held $600 million of Hin Leong's debt. [6] Singapore's three largest banks also faced significant debt exposure to Hin Leong; UOB was owed $100 million, whereas OCBC and DBS Bank had exposures of $200 million and $290 million respectively. [7] Webb8 okt. 2024 · Companies: Hin Leong Trading Pte Ltd, Ocean Tankers (Pte) Ltd., Xihe Holdings Pte Ltd and four of Xihe’s special purpose vehicles. Base: Singapore.
WebbFounder of scandal-hit Singapore oil trader faces 105 new charges Hin Leong collapse has left banks facing potential losses of hundreds of millions of dollars Lim Oon Kuin, … 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 …
Webb2 apr. 2024 · Hin Leong failed in a year-long effort to restructure about $3.5 billion in debts after the COVID-19-led oil crash laid bare huge losses. Founder Lim Oon Kuin admitted in a court document last... iucn great blue wallWebb6 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... network defenders fresno caWebbHin Leong founder O.K. Lim handed 23 more charges, turns up in court after 3 no-shows O.K. Lim (in wheelchair) arriving in court on Friday morning with his lawyer Mr Navin … iucn insightsWebbHin Leong was wound up in March after failing in a year-long effort to restructure more than $3 billion in debts after the COVID-19-led oil crash laid bare huge losses. iucn cat newsiucn bald eagleWebb24 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... network design and management syllabusWebb19 aug. 2024 · Hin Leong, one of Asia's largest oil traders, was placed under judicial management in April after banks demanded repayment of loans as oil prices crashed amid the coronavirus pandemic - a... network defence and forensic countermeasures