Hin leong trading scandal
Web24 giu 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 (“BP”) and Unipec … Web24 mag 2024 · SINGAPORE, May 24 (Reuters) - A Singapore court has approved a freeze on up to $3.5 billion of assets of the family behind collapsed Hin Leong Trading Pte Ltd, boosting the prospect of debt...
Hin leong trading scandal
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Web19 ago 2024 · As 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 … Web6 ott 2024 · Italy'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 …
Web20 apr 2024 · Singapore oil trader Hin Leong Trading hid about US$800 million in losses racked up in futures trading, suggesting a much bigger hole in its finances than thought. Web21 apr 2024 · The rise and fall of Hin Leong is a tale of humble beginnings, business acumen, and luck. But above all, it shows that Lim Oon Kuin, a keen poker player, was …
Web24 giu 2024 · Key Points. Singapore’s Hin Leong Trading has no future as an independent company after it “grossly overstated” the value of its assets by at least $3 billion, according to a preliminary ... WebThe ongoing Hin Leong scandal highlights the dangers of a lack of oversight and under-reporting necessitating the need for tech solutions that perform these functions in real time. Hin Leong Trading company is one of the largest independent commodities traders and oil suppliers in Singapore and in fact the world.
Web25 giu 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...
Web29 dic 2024 · Banks tried to recover loans from Lim’s company, Hin Leong Trading Pte, triggering one of the biggest scandals in the oil industry this century. Lim’s empire collapsed, owing $3.5 billion to ... how does the air freight workWeb25 giu 2024 · Hin Leong Trading was just named in a major $3 billion oil trading scandal. The revelation of the extent of corporate malfeasance has rocked Singapore's bustling … photo trimaran courseWeb18 apr 2024 · US oil prices plummet, Singapore oil trader scandal Hin Leong, which means “prosperity” in Chinese, was founded in 1963 and has grown into one of the biggest … how does the air bag system work in a carWeb5 apr 2024 · Apr 5, 2024, 7:20 AM SGT. SINGAPORE (REUTERS) - Stung by the collapse of Asia's top independent oil trading firm, some global banks have teamed up to seek … photo tricks software free downloadWeb2 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 … how does the air force payWeb9 mar 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. how does the airbag workWeb29 apr 2024 · Fitch Ratings-Hong Kong/Singapore-29 April 2024: The collapse of Singapore-based oil trader Hin Leong Trading amid revelations of USD800 million in undisclosed losses again illustrates how tougher economic times can reveal governance failures, and leave creditors of the affected companies exposed to potential losses, says Fitch Ratings. how does the air force reserve work