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MAS tells banks not to pull lines on oil players here 'indiscriminately'

The Edge Singapore
The Edge Singapore4/21/2020 11:01 PM GMT+08  • 2 min read
MAS tells banks not to pull lines on oil players here 'indiscriminately'
Banks are deened well capitalised and diversified in their exposures to these sectors
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SINGAPORE (Apr 21): The Monetary Authority of Singapore has told banks here not to “de-risk indiscriminately” from the bunkering and oil trading sectors.

Hin Leong Trading, a major oil trading and bunkering provider, is seeking protection from creditors.

It has some U$800 million in undeclared losses, and the police have commenced investigations.

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