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Hin Leong Trading (Pte) Ltd, giant oil trading house gian lận báo cáo tài chính: giấu lỗ $800tr từ giao dịch dầu...
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the son of the legendary founder (người sáng lập huyền thoại) of Hin Leong said the Singapore oil trader hid about $800 million in losses racked up in futures trading, suggesting a much bigger hole in the company’s finances than thought, according to people with knowledge of the matter.

The downfall of Hin Leong Trading (Pte) Ltd., one of the biggest and most secretive forces in the world of physical fuel-oil trading, shows the depth of the fallout from the dramatic drop in oil prices so far this year as a consequence of the Saudi-Russia price war and the coronavirus pandemic.

...Banks have a combined exposure of at least US$3 billion (S$4.25 billion) to Singapore's Hin Leong Trading and are in talks with the privately held oil trader over how to shore up its finances amid concerns over its liquidity,

The group of lenders including HSBC Holdings, DBS Group Holdings and OCBC Bank, held a virtual meeting with the trader and its advisers on Tuesday (April 14), according to the people, who asked not to be identified because they're not authorised to speak publicly. As many as 10 banks are involved, according to one of the people. HSBC has the biggest exposure, at about US$600 million, they said.
Tags: finance

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