Hin Leong

Oil

SocGen shuts trade commodity finance unit in Singapore after Hin Leong collapse

Societe Generale SA is closing its trade commodity finance unit in Singapore after the collapse of Hin Leong Trading (Pte) Ltd.

Blockchain

Can blockchain tech prevent another Hin Leong?

Already buffeted by ferocious storms from the Covid-19 pandemic, Singapore’s financial landscape was thrown into further disarray in April following a financial scandal at leading oil trader firm H

Global Economy

Briefs

Quoteworthy: “It’s not like we had a fight.

Company in the news

Documents forged on a “massive scale” at Hin Leong to hide losses

SINGAPORE (June 24): Hin Leong, the oil trading giant that is now under interim judicial management, has fabricated documents on a “massive scale” to conceal losses of some US$800 million chalked u

BANKS

Covid-19, oil price collapse to hit banks’ earnings as HSBC’s results show

SINGAPORE (April 30): When Hin Leong Trading filed for court protection on April 17, it emerged, in affidavits by its owner Lim Oon Kuin and his son Lim Chee Meng, that the local oil trader owed 23

Oil

Hin Leong collapse tarnishes Singapore’s oil trading haven reputation

(Apr 28): Singapore has long touted itself as the ideal home for a commodity trading house, with low taxes, light regulation and a view of one of the world’s busiest shipping channels.

Company in the news

Standard Chartered hit by bad loans including Hin Leong

(Apr 27): Problem loans at some of Standard Chartered Plc’s large clients may top $600 million as a string of corporate scandals coincides with woes at firms hit by the

Property

Caveat for Lim’s Second Avenue GCB lodged

SINGAPORE (Apr 24): A Good Class Bungalow (GCB) sitting on a 19,989 sq ft, freehold site on Second Avenue, just off Bukit Timah Road, changed hands for $27 million ($1,351 psf), according to a cave

Crude Oil

Why did Hin Leong collapse?

SINGAPORE (Apr 24): Nick Leeson, the trader who blew up Barings Bank in 1995, was fond of Harry’s Bar in Boat Quay. He used to sample the cocktails to take the sting out of the day.

Hin Leong bankruptcy may cause local NPLs to rise

SINGAPORE (Apr 24): Hin Leong Trading, an unlisted oil trading company that last reported a turnover of US$20 billion ($28.5 bil-lion), has had its credit lines from the banks frozen.

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