How One of Asia’s Biggest Oil Empires Collapsed


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How One of Asia’s Biggest Oil Empires Collapsed



Hin Leong was one of the most powerful and secretive names in Asia’s oil trading industry. But an epic gamble by its founder Lim Oon Kuin left the Singaporean company badly exposed, eventually leading to its collapse.

#Singapore #Oil #Storylines

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24 Comments

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  1. as a singaporean it’s embarrassing that this was the worst bloomberg quicktake video I’ve ever seen

    random shots of the buildings with 2 interviews, 1 guy could barely speak english… wtf

  2. CIMB Group Holdings Bhd is believed to be the Malaysian bank which has significant exposure to the troubled oil trader Hin Leong Trading that owes almost US$4 billion to more than 20 banks, including DBS Group Holdings Ltd, HSBC Holdings Plc and Standard Chartered Plc.

    Market talk has it that CIMB’s exposure to Hin Leong is to the tune of US$120 million to US$130 million. This will mean an exposure of more than RM500 million in its loan book.

  3. Both Serene and Alfred is wrong in stating that OK Lim's company lost money as a result of betting position during pandemics. In fact, court document shows they started losing money since the 2015 at the height of the oil price collapse. They only became aware when they read in the newspaper that banks are starting to pull credit. So what investigative journalism has both Serene and Alfred done?

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