Web18 mag 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. 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 ...
Singapore adds 23 charges against founder of oil trader Hin Leong
Web25 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 … 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. minimum wage in ontario canada
Ocean Bunkering Set for Liquidation Following Hin Leong Scandal
Web30 apr 2024 · SINGAPORE - After three no-shows in State Courts to face 23 new charges of forgery-related offences, Hin Leong Trading founder Lim Oon Kuin finally showed up on Friday morning (April 30) in a ... WebThe 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] Web2 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... minimum wage in ontario april 2023