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Hin Leong Bust Latest to Mar Singapore’s Oil Trading Haven (1)

April 28, 2020, 6:55 AM

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.

That hard-earned reputation is now taking a hit after a spate of financial scandals and failures, culminating in the dramatic demise of Hin Leong Trading Pte, the fabled marine fuel trader that has confessed to hiding about $800 million in losses and selling off oil inventories that were backstopping loans.

Just weeks before Hin Leong’s failure, Agritrade International Pte, whose businesses span palm oil and coal mining, collapsed ...



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