Hin leong trading scandal

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August undefined, 2024

Webb22 apr. 2024 · Singapore’s police has launched a probe into Hin Leong after billionaire founder Lim Oon Kuin said he had directed the company’s finance department not to disclose $800m of losses sustained in... Webb24 juni 2024 · June 24, 2024 6:08 am ET. Text. A distressed energy-trading company overstated its assets by more than $3 billion using “routine and pervasive” forgery, while its founder oversaw years of ...

Singapore adds 23 charges against founder of oil trader Hin Leong

Webb25 juni 2024 · Hin Leong posted a net profit of $78 million against total liabilities and equity of $4.56 billion for the period ended October 31. However, investigations revealed that the firm's total... 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... how to get to marine fort

Hin Leong scandal adds tarnish to fading Singapore brand

WebbHin Leong scandal adds tarnish to fading Singapore brand Disgraced oil trader covered up $800m in losses One of the world's top private oil traders, the collapse of Hin Leong … WebbHin Leong, which means “prosperity" in Chinese, sought protection from its creditors in Singapore on April 17. Having spent decades keeping the inner workings of his … 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. john shellard anu

Commodity trading blow-ups dent Singapore’s reputation

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WebbItaly's UniCredit SpA CRDI.MI has sued Hin Leong and Glencore GLEN.L over a letter of credit, one of several the Singapore oil trader sought from lenders for oil purchases but … 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... how to get to marietas islandsWebbThe investigators found that Hin Leong's true assets amounted to just $257 million, or a mere 7% of the $3.5 billion it had in liabilities back then, mostly to loans from banks, … how to get to marine fort g 1

"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 ... " - Hin leong trading scandal

Hin leong trading scandal

Analysis: Hin Leong’s “vicious cycle” of trade finance fraud

Webb19 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... WebbSingapore’s police has launched a probe into Hin Leong after billionaire founder Lim Oon Kuin said he had directed the company’s finance department not to disclose $800m of …

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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... 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 …

WebbHin Leong Trading (HLT) totters on liquidity crunch after oil's historic crash caused by the pandemic and a price war between oil giants. April 2024: Company founder OK Lim … WebbFollowing the fallout from Hin Leong’s collapse, another oil trading company ZenRock Commodities Trading Pte Ltd. was raided by Singapore police last Friday (May 8). This …

Webb24 maj 2024 · Founder of collapsed oil trading firm Hin Leong Trading Pte Ltd, Lim Oon Kuin, better known as O.K. Lim, arrives at the State Courts in Singapore April 30, 2024. WebbHin Leong, one of Asia's largest oil traders, was wound up in March after failing to restructure some $4 billion in debt following a crash in the oil price during the …

WebbHin 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 …

WebbHin 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. how to get to marina barrageWebb19 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... john shellenberger obituaryWebbFounder 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, … how to get to marine fort gpoWebbAs the first signs emerge of enforcement action linked to disgraced Singapore oil trader Hin Leong, court documents have revealed the extent to which the company had … john shell associates columbia scWebb9 mars 2024 · Hin Leong Trading (HLT) totters on liquidity crunch after oil's historic crash caused by the pandemic and a price war between oil giants. April 2024: Company founder OK Lim files for six-month debt moratorium to give HLT "breathing space" to work out some US$4b of debt owed to over 20 banks. john sheldon racing driverWebb24 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 … how to get to marinefordWebb8 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. how to get to marine fort g-1 gpo