SINGAPORE (April 21): The Monetary Authority of Singapore has told banks here not to “de-risk indiscriminately” from the bunkering and oil trading sectors.
Hin Leong Trading, a major oil trading and bunkering provider, is seeking protection from creditors.
It has some U$800 million in undeclared losses, and the police have commenced investigations.
As at April 9, the company carries a debt of...(click on link for full story on theedgesingapore.com)